What were the operating losses for Lees Famous Recipe's LF RC RE Ft. Wayne?
Lees_Famous_Recipe Franchise · 2025 FDDAnswer from 2025 FDD Document
, | | 7 269 ,83 | | 3 255 ,30 | | 2 196 ,22 | 7 130 ,57 | | 56) (31 8,9 | 921 ,68 3 | | Oth er I nco me : Mis cell inc ane ous om e | | 3,5 24 | 2,1 77 | 2,4 49 | | 4,3 84 | | 3,8 35 | | 3,4 58 | 3,1 03 | | - | 22, 930 | | Net Inc e (L ) om oss | $ | 0 258 ,31 | $ 489 40, | $ 051 98, | $ | 1 274 ,22 | $ | 8 259 ,13 | $ | 0 199 ,68 | $ 0 133 ,68 | $ | 56) (31 8,9 | $ 944 ,61 3 |
FOR THE PERIOD ENDED DECEMBER 31, 2023 ARTEMIS RESTAURANT CORP. SCHEDULE OF OPERATIONS BY LOCATION - FT. WAYNE
| Ft. Wayne | Ft. Wayne | Ft. Wayne | Ft. Wayne | Ft. Wayne | Total | |
|---|---|---|---|---|---|---|
| 207548 | 207550 | 207551 | 207009 | Admin | ||
| Revenue: | ||||||
| Sales by company-operated restaurants | $ 1,732,095 | $ 1,665,194 | $ 1,962,702 | $ 1,439,468 | $ 3 | $ 6,799,462 |
| Cost of Sales: | ||||||
| Company-operated restaurant expenses - | ||||||
| Food and paper | 677,579 | 728,709 | 697,023 | 577,934 | 54,951 | 2,736,196 |
| Payroll | 519,197 | 474,630 | 547,892 | 401,005 | (11) | 1,942,713 |
| Occupancy and other operating expenses | 63,869 | 64,269 | 60,303 | 51,664 | 10,166 | 250,271 |
| Total cost of sales | 1,260,645 | 1,267,608 | 1,305,218 | 1,030,603 | 65,106 | 4,929,180 |
| Gross profit (loss) | 471,450 | 397,586 | 657,484 | 408,865 | (65,103) | 1,870,282 |
| General and Administrative Expenses | 180,068 | 179,463 | 136,769 | 142,654 | 211,360 | 850,314 |
| Operating income (loss) | 291,382 | 218,123 | 520,715 | 266,211 | (276,463) | 1,019,968 |
| Other Income: |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 69)
What This Means (2025 FDD)
The 2025 Franchise Disclosure Document for Lees Famous Recipe does not provide specific operating loss information for LFRC Ft. Wayne RE (Real Estate). The document includes financial statements for various company-owned and operated restaurants and related real estate holding companies, but it focuses on revenue, cost of sales, gross profit, general and administrative expenses, and operating income (loss). It does not break out operating losses for the real estate entity, LFRC Ft. Wayne RE.
Instead, the FDD provides financial data for LFRC Ft. Wayne, which operates a restaurant. For this entity, the operating income for the period was $1,019,968. This figure is calculated by subtracting the general and administrative expenses from the gross profit. The document also details the components of the cost of sales, including food and paper, payroll, and occupancy and other operating expenses.
Prospective franchisees should note that the financial performance of company-owned locations may not be indicative of the performance of franchised locations. It is important for potential franchisees to conduct their own due diligence and seek independent financial advice before investing in a Lees Famous Recipe franchise. To obtain information about the real estate entity, LFRC Ft. Wayne RE, a prospective franchisee should consider asking the franchisor directly for specific financial details related to that entity's operations and performance.