What was the net income (loss) for the Lees Famous Recipe 'Springfield 300 004' 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 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 69)
What This Means (2025 FDD)
According to the 2025 Lees Famous Recipe FDD, the net income for the LFRC Springfield location was $586,069. This figure represents the profit remaining after all revenues and expenses, including the cost of sales, general and administrative expenses, other income and expenses, and income tax expenses, have been accounted for.
This information is based on the operation of a company-owned restaurant. A prospective franchisee can use this information to understand the potential profitability of a Lees Famous Recipe location. However, it is important to consider that the performance of a franchised location may differ due to factors such as management skills, local market conditions, and operating costs.
It is important to note that this data reflects the performance of one specific location (LFRC Springfield) and may not be representative of all Lees Famous Recipe restaurants. A prospective franchisee should conduct thorough due diligence, including reviewing the financial performance of other locations and considering their own individual circumstances, before making an investment decision.