What was the total revenue from franchised Hardees restaurants and other sources for Fiscal Year 2024?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
| Jan | uary 31, 2024 | Jan | uary 31, 2023 | |
|---|---|---|---|---|
| ASSETS | . ' | _ | ||
| Current assets: | ||||
| Cash and cash equivalents | . $ | 130,566 | $ | 107,853 |
| Cash and cash equivalents - restricted | 15,942 | 16,053 | ||
| Accounts receivable, net | 38,438 | 37,541 | ||
| Inventories | 3,029 | 2,999 | ||
| Prepaid expenses | 13,562 | 6,183 | ||
| Other current assets | 80 | 83 | ||
| Total current assets | 201,617 | " | 170,712 | |
| Property and equipment, net | 377,436 | 371,572 | ||
| Operating lease assets | 424,719 | 448,064 | ||
| Goodwill | 539,421 | 540,083 | ||
| Intangible assets, net | 777,538 | 793,030 | ||
| Other assets, net | 40,485 | 29,806 | ||
| Total assets | . $ | 2,361,216 | $ | 2,353,267 |
| LIABILITIES AND EQUITY | ||||
| Current liabilities: | ||||
| Current portion of long-term debt | . $ | 11,800 | $ | 13,700 |
| Current portion of finance leases | 1,515 | 1,268 | ||
| Current portion of operating leases | 79,623 | 85,529 | ||
| Accounts payable | 23,855 | 28,159 | ||
| Other current liabilities. | 71,641 | 66,753 | ||
| Total current liabilities | 188,434 | 195,409 | ||
| Long-term debt, less current portion | 1,108,022 | 1,116,405 | ||
| Finance leases, less current portion | 23,370 | 14,428 | ||
| Operating leases, less current portion | 366,233 | 381,495 | ||
| Deferred income tax liabilities, net | 171,393 | 175,131 | ||
| Other long-term liabilities | 263,631 | 277,497 | ||
| Total liabilities | 2,121,083 | 2,160,365 | ||
| Commitments and contingencies (Notes 8, 9, 10 and 14) | ||||
| Equity: | ||||
| Common stock, $0.01 par value; 100 shares authorized, issued and outstanding as of January 31, 2024 and 2023 | • | _ | _ | |
| Additional paid-in capital | 736,438 | 734,314 | ||
| Accumulated deficit | (495,148) | (540,277) | ||
| Accumulated other comprehensive loss | (1,157) | (1,135) | ||
| Total equity | 240,133 | 192,902 | ||
| Total liabilities and equity | 2,361,216 | $ | 2,353,267 |
CKE RESTAURANTS HOLDINGS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands)
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Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Hardees's 2025 Franchise Disclosure Document, the total revenue from franchised restaurants and other sources for the fiscal year 2024 was $299,954. This figure is part of the overall revenue reported in the company's financial statements. The fiscal year ended January 29, 2024, is referred to as fiscal 2024 or the fiscal year ended January 31, 2024.
This revenue represents the income Hardees receives from its franchisees through royalties, fees, and other sources, as well as any other revenue streams not directly related to company-operated restaurants. For a prospective franchisee, this indicates the financial health and stability of the Hardees franchise system. A higher number suggests a strong network of successful franchises, which can be an attractive factor for new franchisees.
It's important to note that while the revenue from franchised restaurants is significant, it is not the only source of income for Hardees. The company also generates revenue from company-operated restaurants and advertising funds. Understanding the different revenue streams can provide a more comprehensive view of Hardees's financial performance. Prospective franchisees should review the complete financial statements and consult with a financial advisor to fully understand the implications of these figures.
Additionally, the FDD mentions that Hardees's restaurant sales are subject to seasonal fluctuations, with higher sales typically occurring during the spring and summer months. This seasonality could impact the revenue generated from franchised restaurants and should be considered when evaluating the potential profitability of a Hardees franchise.