What was the reported total of salaries, wages, and other benefits for Hardees in 2024?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
| _ | 2024 | 2023 |
|---|---|---|
| Salaries, wages and other benefits | $ 15,610 | $ 8,802 |
| Income taxes payable | 13,955 | 9,887 |
| Financing method sale-leaseback liability, current portion | 11,287 | 10,170 |
| Accrued interest | 5,663 | 5,934 |
| Gift card and gift certificate liabilities | 4,479 | 4,651 |
| Estimated liability for self-insurance, current portion | 3,545 | 5,813 |
| Deferred franchise and development fees | 3,454 | 3,376 |
| Accrued property taxes | 3,089 | 4,573 |
| State sales tax | 2,017 | 2,288 |
| Utilities | 1,004 | 1,028 |
| Other accrued liabilities | 7,538 | 10,231 |
| Total other current liabilities | $ 71,641 | $ 66,753 |
| _ | 2024 | 2023 |
|---|---|---|
| Financing method sale-leaseback liability, current portion | $ 11,287 | $ 10,170 |
| Accrued interest | 5,663 | 5,933 |
| Deferred franchise and development fees | 3,477 | 3,399 |
| Salaries, wages and other benefits | 3,231 | 3,484 |
| Accrued property taxes | 2,952 | 4,449 |
| State sales tax | 1,938 | 2,229 |
| Utilities | 1,004 | 1,028 |
| Income taxes payable | 545 | 368 |
| Other accrued liabilities | 4,956 | 4,256 |
| Total other current liabilities | $ 35,053 | $ 35,316 |
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Hardees' 2025 Franchise Disclosure Document, there are two different figures for 'Salaries, wages and other benefits' reported for 2024. One table lists the amount as $15,610, while another table shows $3,231. It is important to note that these figures appear in different sections of the financial statements under 'Total other current liabilities'.
It's crucial to understand the context of these figures. The FDD excerpts present different financial tables, and the line items within those tables may represent different aspects of Hardees' overall financial picture. The discrepancy between the two reported figures suggests that they might pertain to different segments of the company's operations or different accounting treatments. For example, one figure might represent accrued liabilities related to salaries and wages, while the other reflects the actual expenses incurred during the fiscal year.
A prospective franchisee should carefully review the complete financial statements in the FDD and seek clarification from Hardees regarding these discrepancies. Understanding the specific components of 'Salaries, wages and other benefits' in each table is essential for making informed investment decisions. It would be prudent to consult with a financial advisor or accountant to fully interpret these figures and their implications for the franchisee's potential profitability and financial obligations.
In addition to clarifying the discrepancies, a potential franchisee should inquire about the factors that influence these costs, such as staffing levels, wage rates, employee benefits packages, and any anticipated changes in these areas. This information will help the franchisee develop realistic financial projections and assess the potential risks and rewards of investing in a Hardees franchise.