What was the interest expense for RC LF Lima Lees Famous Recipe?
Lees_Famous_Recipe Franchise · 2025 FDDAnswer from 2025 FDD Document
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ARTEMIS RESTAURANT CORP. CONSOLIDATING STATEMENT OF OPERATIONS LEE'S 4-WALL, LLC FROM MAY 6, 2021 (INCEPTION) TO DECEMBER 31, 2021
| LFRC Ocala | LFRC Lima | Elimination | Lee's 4-Wall, LLC Total | |
|---|---|---|---|---|
| Revenue: | ||||
| Sales by company-operated restaurants | $ 452,994 | $ 1,055,108 | $ - | $ 1,508,102 |
| Cost of Sales: | ||||
| Company-operated restaurant expenses - | ||||
| Food and paper | 168,729 | 385,302 | - | 554,031 |
| Payroll | 125,602 | 299,899 | - | 425,501 |
| Occupancy and other operating expenses | 22,657 | 54,392 | - | 77,049 |
| Total cost of sales | 316,988 | 739,593 | - | 1,056,581 |
| Gross profit | 136,006 | 315,515 | - | 451,521 |
| General and Administrative Expenses | 8 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 69)
What This Means (2025 FDD)
According to Lees Famous Recipe's 2025 Franchise Disclosure Document, RC LF Lima, also known as Famous Recipe Fried Chicken of Lima Inc. (FRFC Lima), had no interest expense. The provided financial statement shows a breakdown of revenue, expenses, and income for LFRC Lima. Under the 'Other Income (Expenses)' section, the 'Interest expense' is listed as '-'. This indicates that LFRC Lima did not incur any interest expenses during the reporting period.
For a prospective Lees Famous Recipe franchisee, this information is useful for understanding the financial performance of company-operated restaurants. The absence of interest expense for LFRC Lima could be due to various factors, such as having no debt or financing obligations during that period. It's important to note that this is just one snapshot of a single location's financials and may not be representative of all Lees Famous Recipe restaurants.
It is important to consider that the financial performance of a franchise can vary widely based on location, management, and market conditions. While LFRC Lima had no interest expense, other locations may have different financial profiles. Prospective franchisees should conduct thorough due diligence, including reviewing the financial performance of multiple locations and consulting with financial advisors, to assess the potential profitability and risks associated with investing in a Lees Famous Recipe franchise.
Therefore, while the FDD provides some insight into the financial performance of company-operated stores like the one in Lima, potential franchisees should not rely solely on this information. They should investigate further and consider a range of factors before making an investment decision.