What was the change in inventory for Lees Famous Recipe in 2022?
Lees_Famous_Recipe Franchise · 2025 FDDAnswer from 2025 FDD Document
years beginning after December 15, 2022. The Company adopted the standard on January 1, 2023, and it did not have a material impact on the Company's consolidated financial statements.
Subsequent Events:
Management has evaluated subsequent events through April 30, 2024, which is the date
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 69)
What This Means (2025 FDD)
According to Lees Famous Recipe's 2025 Franchise Disclosure Document, the total inventory for the company in 2022 was $299,504. The inventory is composed of proprietary products, restaurant food, and restaurant paper products.
Specifically, the inventory included $18,778 in proprietary products, $194,227 in restaurant food, and $86,499 in restaurant paper products. These figures provide a snapshot of the resources Lees Famous Recipe had on hand in 2022.
Understanding the composition and total value of inventory can be useful for prospective franchisees. It gives insight into the scale of operations and the types of products necessary to run a Lees Famous Recipe franchise. Monitoring inventory levels and their associated costs is a key aspect of managing a successful franchise.