What was the average operating income for Golden Corral restaurants in 2024?
Golden_Corral Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 Average Operating | ||||
|---|---|---|---|---|
| Income (Note 5) | ||||
| $984,254 | 22.47% | $721,972 | 19.43% | |
| Medians: | ||||
| 2024 Median Gross Sales | $4,202,787 | 100% | $3,602,786 | 100% |
| Median Expenses: | ||||
| Median Food Cost | $1,569,807 | 37.35% | $1,406,379 | 39.04% |
| Median Labor Related | ||||
| Expenses | $1,178,315 | 28.04% | $1,031,594 | 28.63% |
| Median Controllable | ||||
| $503,851 | 11.99% | $491,011 | 13.63% | |
| Expenses | ||||
| 2024 Total of Median | ||||
| --- | --- | --- | --- | --- |
| Operating Costs and | ||||
| $3,251,973 | 77.38% | $2,928,984 | 81.30% | |
| Expenses |
Table 1 below provides the average gross sales, selected expenses, and average operating income for fiscal year 2024 (the period January 3, 2024 through January 1, 2025), by building design, for 232 franchised Restaurants utilizing the GC-11S or GC-11M building design. Table 1 excludes 2 GC-11M franchised Restaurants that had been in operation for less than 6 months as of January 1, 2025.
Note 5: Upon information and belief, but without the benefit of any investigation or inquiry by us, average operating income is calculated as Average Gross Sales minus average food cost, average labor-related expenses, and average controllable expenses. To our knowledge, operating income is before deduction of the expenses described in Note 1. The amount of some of your fixed expenses, such as rent or debt service related to land, building and/or equipment, will depend, in part, on your total initial investment. See Item 7 for an estimate of the initial investment for a Restaurant.
Some outlets have sold this amount. Your individual results may differ. There is no assurance that you will sell as much.
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 64–74)
What This Means (2025 FDD)
According to Golden Corral's 2025 Franchise Disclosure Document, the average operating income for franchised GC-11M restaurants in 2024 was $984,254, representing 22.47% of gross sales. For GC-11S restaurants, the average operating income was $721,972, which is 19.43% of gross sales. These figures are based on data from 232 franchised restaurants utilizing the GC-11S or GC-11M building designs, excluding two GC-11M restaurants that had been in operation for less than six months as of January 1, 2025.
It's important to note that operating income is calculated as average gross sales minus average food cost, average labor-related expenses, and average controllable expenses. The FDD clarifies that these figures are before deductions of expenses like rent or debt service related to land, building, and/or equipment. These fixed expenses can vary depending on the franchisee's initial investment.
The FDD also provides median figures for gross sales, food costs, labor-related expenses, and controllable expenses. For GC-11M restaurants, the median gross sales were $4,202,787, while for GC-11S restaurants, they were $3,602,786. Median expenses, including food, labor, and controllable costs, totaled $3,251,973 for GC-11M restaurants and $2,928,984 for GC-11S restaurants. These medians offer a different perspective on typical performance compared to the averages.
Prospective franchisees should be aware that these financial performance representations are historical and that individual results may vary. Golden Corral explicitly states that there is no assurance that a franchisee will achieve the same sales or income levels. The FDD recommends that prospective franchisees conduct their own independent investigation and consult with financial and legal advisors to determine the potential profitability of the franchise.