What were the operating losses for Lees Famous Recipe's LF RC RE Springfield?
Lees_Famous_Recipe Franchise · 2025 FDDAnswer from 2025 FDD Document
On April 12, 2022, the Company acquired certain fixed assets from Far From Famous, LLC. The goodwill of approximately $600,000 arising from the acquisition consists largely of future earnings potential. The Company paid approximately $8,500,000 for the acquisition.
LFRC SSB, LFRC Springfield RE, LFRC RE Mt.
Sterling were organized in 2022, to hold the real estate assets for the Company-owned and operated restaurants.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 69)
What This Means (2025 FDD)
According to the 2025 Lees Famous Recipe FDD, information regarding the operating losses for LFRC Springfield RE is not explicitly detailed. However, the document does provide some financial context regarding LFRC Springfield, LLC. Note 10 mentions that on April 12, 2022, the company acquired certain fixed assets from Far From Famous, LLC, for approximately $8,500,000, with goodwill of approximately $600,000 arising from the acquisition.
Additionally, the FDD lists LFRC Springfield RE, LLC as being organized in 2022 to hold the real estate assets for Company-owned and operated restaurants. This suggests that LFRC Springfield RE is primarily involved in managing the real estate associated with a Lees Famous Recipe location. The financial performance of this entity is not broken out separately in the provided excerpts.
Given the lack of specific operating loss information for LFRC Springfield RE in the FDD excerpts, a prospective franchisee should directly inquire with Lees Famous Recipe's franchisor for detailed financial statements related to this entity. Understanding the financial performance of company-owned real estate entities could provide valuable insights into the overall financial health and stability of the franchise system.