What data points are presented for gross Restaurant sales in both Table 1 and Table 2 for Crisp & Green?
Crisp_Green Franchise · 2024 FDDAnswer from 2024 FDD Document
for 12 months or longer as of December 31, 2023.
We report this information in two tables, organized according to how long the Restaurants have been in operation. Table 1 presents gross Restaurant sales information about a subset of all Restaurants that were open and operating during all of calendar year 2023, namely, those Restaurants that have been operating for 24 months or longer as of December 31, 2023. The Restaurants reported in Table 1 include our sole Corporate Restaurant and 14 franchised Restaurants. In Table 2, we report gross Restaurant sales information for all Restaurants that were open and operating for 12 months or longer as of December 31, 2023, which consists of our sole Corporate Restaurant and 28 franchised Restaurants. In both tables, we have presented information on the average, median, high, and low gross Restaurant sales for calendar year 2023.
TABLE 1 – RESTAURANTS THAT HAVE BEEN OPERATING MORE THAN 24 MONTHS AS OF DECEMBER 31, 2023
| Provision | Section in Franchise | Summary | |
|---|---|---|---|
| or Other Agreement | |||
| u. Dispute resolution by arbitration or mediation | Section 18.05 – Franchise Agreement and Section 9 – Area Development Agreement | Except for claims for injunctive relief, we make seek against you, all disputes must be arbitrated in the city closest to our corporate headquarters (currently Wayzata, MN). Subject to applicable state law. | |
| v. Choice of forum | Section 18.07 – Franchise Agreement and Section 9 – Area Development Agreement | Subject to applicable state law, disputes must be arbitrated or litigated in the city closest to our corporate headquarters (currently Wayzata, MN). | |
| w. Choice of law | Section 18.08 – Franchise Agreement and Section 9 – Area Development Agreement | Subject to applicable state law, Minnesota law applies, provided that the Minnesota Franchise Act and other franchise-specific laws and regulations of the State of Minnesota generally do not apply to Restaurants located outside of Minnesota. |
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 57–62)
What This Means (2024 FDD)
According to the 2024 Crisp & Green Franchise Disclosure Document, Item 19 presents financial performance representations based on historical data from calendar year 2023. The data includes gross Restaurant sales from the sole Corporate Restaurant and franchised Restaurants open for the entire year. Gross Restaurant sales are defined as total revenue from the sale of goods, less sales tax, but without excluding discounts, allowances, and returns.
Table 1 focuses on Restaurants open for 24 months or longer as of December 31, 2023, including 1 Corporate Restaurant and 14 franchised Restaurants. For this group, Crisp & Green reports the average, median, high, and low gross Restaurant sales. Specifically, the average gross Restaurant sales for franchised Restaurants is $1,760,761, with a median of $1,883,919. The lowest gross Restaurant sales reported is $972,804, and the highest is $2,846,953. For all Restaurants (including the corporate location), the average is $1,812,565, and the median is $1,971,268.
Table 2 includes all Restaurants open for 12 months or longer as of December 31, 2023, consisting of 1 Corporate Restaurant and 28 franchised Restaurants. The same data points are presented: average, median, high, and low gross Restaurant sales. This provides a broader view of performance across a larger number of locations with a shorter operating history.
The FDD also includes a statement of profit and loss for the Corporate Restaurant in 2023, detailing gross Restaurant sales of $2,537,832, along with various expenses and net profit figures. This data is also reflected in the "Corporate" and "All Restaurants" columns in Tables 1 and 2, offering a benchmark for potential franchisee performance while also noting that individual results may vary.