What was the net income (loss) for the Lees Famous Recipe 'Springfield 207 428' 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): | ||||||||
| Miscellaneous income | 11,935 | 9,154 | 26,885 | 5,603 | 17,274 | 443 | - | 71,294 |
| Interest expense | - | - | ´- | - | _ | - | - | |
| Total other income, net | 11,935 | 9,154 | 26,885 | 5,603 | 17,274 |
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 was $586,069. This figure represents the net earnings of the company-operated restaurant in Springfield before considering consolidated adjustments.
This information is valuable for prospective franchisees as it provides insight into the financial performance of a specific company-operated location. While this is just one location, it can serve as a benchmark for potential revenue and expenses. Understanding the revenue, cost of sales (including food, paper, and payroll), and administrative expenses helps potential franchisees assess the potential profitability of a Lees Famous Recipe franchise.
It is important to note that the performance of a single location may not be representative of all locations. Factors such as location, market conditions, and management can significantly impact financial results. Prospective franchisees should conduct thorough due diligence, including reviewing the financial performance of multiple locations and considering their own market conditions, before making an investment decision.