What was the net income (loss) for the Lees Famous Recipe 'Springfield 207 407' location?
Lees_Famous_Recipe Franchise · 2025 FDDAnswer from 2025 FDD Document
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| - | - | (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. Wayne | LFRC Sanford | Elimination | Lee's 4-Wall, LLC Total | |
|---|---|---|---|---|---|---|---|---|
| Revenue: | ||||||||
| Sales by company-operated restaurants | $ 4,993,934 | $ 5,410,910 | $ 12,581,413 | $ 4,184,800 | $ 6,799,462 | $ 179,422 | $ - | $ 34,149,941 |
| Cost of Sales: | ||||||||
| Company-operated restaurant expenses - | ||||||||
| Food and paper | 1,895,194 | 2,040,125 | 4,949,389 | 1,692,530 | 2,736,196 | 55,217 | - | 13,368,651 |
| Payroll | 1,426,583 | 1,390,798 | 3,947,304 | 1,111,442 | 1,942,713 | 80,406 | - | 9,899,246 |
| Occupancy and other operating expenses | 618,442 | 643,922 | 1,530,311 | 315,620 | 250,271 | 14,224 | 3,372,790 | |
| Total cost of sales | 3,940,219 | 4,074,845 | 10,427,004 | 3,119,592 | 4,929,180 | 149,847 | - | 26,640,687 |
| Gross profit | 1,053,715 | 1,336,065 | 2,154,409 | 1,065,208 | 1,870,282 | 29,575 | - | 7,509,254 |
| General and Administrative Expenses | 778,909 | 749,165 | 1,595,203 | 489,451 | 850,314 | 27,795 | 4,490,837 | |
| Operating income | 274,806 | 586,900 | 559,206 | 575,757 | 1,019,968 | 1,780 | 3,018,417 | |
| Other Income (Expenses): | ||||||||
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 69)
What This Means (2025 FDD)
According to the 2025 Lees Famous Recipe Franchise Disclosure Document, the net income for the LFRC Springfield location, which appears to correspond to the 'Springfield 207 407' location, was $586,069. This figure represents the net earnings of that specific company-operated restaurant after accounting for all revenues, cost of sales, general and administrative expenses, other income and expenses, and income tax expenses.
This information is crucial for potential franchisees as it provides insight into the financial performance of a company-operated location. While individual franchise performance may vary due to factors like location, management, and local market conditions, understanding the financial results of a similar operation can help franchisees develop realistic financial projections. It's important to note that this is just one location's performance, and prospective franchisees should investigate further to understand the factors that contribute to the Springfield location's success.
It is important for prospective franchisees to compare this net income figure with other financial metrics provided in the FDD, such as revenue, cost of sales, and operating expenses, to gain a comprehensive understanding of the restaurant's profitability. Additionally, they should consider the initial investment required to establish a Lees Famous Recipe franchise and the ongoing royalty and advertising fees to determine the potential return on investment. Speaking with existing franchisees and conducting thorough market research are also essential steps in evaluating the financial viability of a Lees Famous Recipe franchise.