What was the general and administrative expense for F R C R E ing Ste t. r within Lees Famous Recipe?
Lees_Famous_Recipe Franchise · 2025 FDDAnswer from 2025 FDD Document
Before Income Taxes | (291,4: | 53) | 3,058,094 | | 1,888,349 | | 42,571 | | 2,284,639 | | (326,572) | | (6,960,138) | | (304,510) | | Income Tax Benefit | | | | | - | | | | (141) | _ | | | | | (141) | | Net Income (Loss) | $ (291,4 | 53) $ | 3,058,094 | $ | 1,888,349 | $ | 42,571 | $ | 2,284,498 | $ | (326,572) | $ | (6,960,138) | $ | (304,651) |
ARTEMIS RESTAURANT CORP. CONSOLIDATING STATEMENT OF OPERATIONS LFR CHICKEN, LLC FROM MAY 6, 2021 (INCEPTION) TO DECEMBER 31, 2021
| Revenue: | LFR Chicken | Lee's Distribution | Lee's Franchisor | Lee's 4-Wall LLC | Elimination | LFR Chicken, LLC Total |
|---|---|---|---|---|---|---|
| Proprietary product revenue | $ 307,210 | $ 6,070,247 | $ - | $ - | $ - | $ 6,377,457 |
| Royalties | - | - | 540,737 | - | - | 540,737 |
| Franchise, license, and development fees | - | - | 7,500 | - | - | 7,500 |
| Sales by company-operated restaurants | - | - | - | 1,508,102 | - | 1,508,102 |
| Total revenue | 307,210 | 6,070,247 | 548,237 | 1,508,102 | - | 8,433,796 |
| Cost of Sales: | ||||||
| Proprietary products | 4,368 | 4,518,874 | - | - | - | 4,523,242 |
| Company-operated restaurant expenses - | ||||||
| Food and paper | - | - | - | 554,031 | - | 554,031 |
| Payroll | - | - | - | 425,501 | - | 425,501 |
| Occupancy and other operating expenses | - | - | - | 77,049 | - | 77,049 |
| Total cost of sales | 4,368 | 4,518,874 | - | 1,056,581 | - | 5,579,823 |
| Gross profit | 302,842 | 1,551,373 | 548,237 | 451,521 | - | 2,853,973 |
| General and Administrative Expenses | 2,326,438 | 1,129 | 15,826 | 455,174 | - | 2,798,567 |
| Operating income (loss) | (2,023,596) | 1,550,244 | 532,411 | (3,653) | - | 55,406 |
| Other Income (Expenses): | ||||||
| Administrative service income | 102,890 | - | - | - | - | 102,890 |
| Earnings in subsidiaries | 2,088,387 | - | - | - | (2,088,387) | - |
| Miscellaneous income | 31,972 | - | 253 | 9,132 | - | 41,357 |
| Interest expense | (313,577) | - | - | - | - | (313,577) |
| Total other income (expenses), net | 1,909,672 | - | 253 | 9,132 | (2,088,387) | (169,330) |
| Income (Loss) Before Income Taxes | (113,924) | 1,550,244 | 532,664 | 5,479 | (2,088,387) | (113,924) |
| Income Tax Benefit | - | - | - | - | - | - |
| Net Income (Loss) | $ (113,924) | $ 1,550,244 | $ 532,664 | $ 5,479 | $ (2,088,387) | $ (113,924) |
ARTEMIS RESTAURANT CORP. CONSOLIDATING STATEMENT OF OPERATIONS LEE'S 4-WALL, LLC YEAR ENDED DECEMBER 31, 2023
| | LFRC Ocala | LFRC Lima | LFRC Springfield | LFRC Mt. Sterling | LFRC Ft.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 69)
What This Means (2025 FDD)
According to the 2025 Lees Famous Recipe FDD, the provided excerpts do not contain the specific general and administrative expenses for "F R C R E ing Ste t. r". However, the financial statements do provide general and administrative expenses for several entities within the Lees Famous Recipe system. For example, LFR Chicken's general and administrative expenses were $2,326,438, Lee's Distribution's were $1,129, Lee's Franchisor's were $15,826, and Lee's 4-Wall LLC's were $455,174. The total general and administrative expenses for LFR Chicken, LLC was $2,798,567.
Additionally, the FDD provides a breakdown of revenue, cost of sales, gross profit, and general and administrative expenses for LFRC Ocala and LFRC Lima. LFRC Ocala had general and administrative expenses of $84,988, while LFRC Lima had $370,186.
To obtain the specific figure for "F R C R E ing Ste t. r", a prospective franchisee should directly request this information from the franchisor. Understanding these expenses is crucial for assessing the financial health and operational efficiency of specific entities within the Lees Famous Recipe system.