What was the net rent income for Hardees in fiscal year 2024?

According to Hardees's 2025 Franchise Disclosure Document, the net rent income for fiscal year 2024 was $2,956. This figure is derived from the total rent revenue of $97,150, which includes $90,450 in minimum rent revenue and $6,700 in variable lease payments. The total operating lease cost, which includes operating lease cost of $92,340 and variable lease cost of $1,854, was $94,194. The net rent income is calculated by subtracting the total operating lease cost from the total rent revenue.

For a prospective Hardees franchisee, understanding these figures is crucial for assessing the financial health of the company. Net rent income reflects the profitability of Hardees's leasing activities, and changes in these figures from year to year can indicate shifts in the company's real estate strategy or market conditions. A decrease in net rent income, as seen from fiscal year 2024 to fiscal year 2025 ($2,956 to $2,625), could signal increased operating lease costs or decreased rental revenue, which might warrant further investigation.

It's important to note that these figures represent Hardees's overall net rental income and may not directly correlate with the rental expenses a franchisee would incur for their specific location. Franchisees should carefully review their individual lease agreements and consider factors such as location, size, and market conditions when evaluating their potential rental costs. Consulting with a financial advisor is recommended to fully understand the implications of these figures on their investment.