What is the reported amount of 'Inventory' for Lees Famous Recipe's LFRC Springfield?
Lees_Famous_Recipe Franchise · 2025 FDDAnswer from 2025 FDD Document
6 | | 2,178,723 | | 42,571 | | 7,517,573 | _ | 4,420,959 | | (18,747,522) | | | | Total equity | _ | 11,056,425 | 4,587,696 | | 2,178,723 | | 42,571 | | 9,308,898 | | 4,420,959 | | (20,538,847) | | 11,056,425 | | Total Liabilities and Equity | $ | 36,871,221 | $ 4,731,250 | $ | 2,181,723 | $ | 42,571 | $ | 13,571,829 | $ | 11,108,958 | $ | (20,538,847) | $ | 47,968,705 |
ARTEMIS RESTAURANT CORP. LEE'S 4-WALL, LLC CONSOLIDATING BALANCE SHEETS DECEMBER 31, 2023
| LFRC Ocala | LFRC Lima | LFRC Springfield | LFRC Mt. Sterling | LFRC Ft. Wayne | LFRC Sanford | Elimination | L | ee's 4-Wall, LLC Total | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets: | 1 0 | |||||||||||||
| Cash and cash equivalents | $ 50,831 | 42,679 | $ | 120,602 | $ | 61,546 | $ | 53,538 | $ (182) | $ | - | $ | 329,014 | |
| Proprietary product sales and allowances receivable | 11,785 | 14,880 | 31,640 | 8,548 | 17,309 | 443 | - | 84,605 | ||||||
| Other receivables | - | - | - | - | - | - | - | - | ||||||
| Intercompany amounts | 17,554 | (3,974) | (41,770) | - | (39,330) | (2,625) | - | (70,145) | ||||||
| Inventory | 38,396 | 37,895 | 105,021 | 26,754 | 66,983 | 11,069 | - | 286,118 | ||||||
| Prepaid expenses | 6,812 | - | - | 2,888 | (76) | - | - | 9,624 | ||||||
| Other current assets | 1,511,799 | 1,762,721 | 2,197,211 | 1,070,067 | 1,248,176 | 66,524 | - | 7,856,498 | ||||||
| Total current assets | 1,637,177 | 1,854,201 | 2,412,704 | 1,169,803 | _ | 1,346,600 | 75,229 | - | 8,495,714 | |||||
| Property and Equipment, net | 120,969 | 686,315 | 804,878 | _ | 91,987 | _ | 411,137 | 3,613 | - | 2,118,899 | ||||
| Other Assets: | ||||||||||||||
| Right of use assets, operating | 1,963,159 | 1,532,459 | 4,786,508 | - | - | - | - | 8,282,126 | ||||||
| Goodwill, net | 1,702,084 | - | 507,211 | 1,566,634 | 69,033 | 274,448 | - | 4,119,410 | ||||||
| Other long term assets | - | - | - | 20,000 | - | - | - | 20,000 | ||||||
| Total other assets | 3,665,243 | 1,532,459 | _ | 5,293,719 | 1,586,634 | _ | 69,033 | 274,448 | - | _ | 12,421,536 | |||
| Total Assets | $ 5,423,389 | $ L | 4,072,975 IABILITIES | $ ANI | 8,511,301 D EQUITY | $ | 2,848,424 | $ | 1,826,770 | 353,290 | $ | - | $ | 23,036,149 |
| Current Liabilities: | ||||||||||||||
| Accounts payable | $ 172,437 | $ | 92,591 | $ | 511,244 | $ | 111,992 | $ | 224,309 | $ 48,327 | $ | - | $ | 1,160,900 |
| Accrued payroll and compensated absences | 25,413 | 18,925 | 56,965 | 18,729 | 33,284 | 7,453 | - | 160,769 | ||||||
| Taxes payable | 29,800 | 3,507 | 17,686 | 41,879 | 50,935 | 7,714 | - | 151,521 | ||||||
| Current portion of operating lease liabilities | 23,435 | 30,506 | 39,008 | - | - | - | - | 92,949 | ||||||
| Current portion of deferred revenue | 9,577 | (11,891) | - | - | - | - | (2,314) | |||||||
| Total current liabilities | 251,085 | 155,106 | 613,012 | 172,600 | 308,528 | 63,494 | - | 1,563,825 | ||||||
| Long-Term Liabilities: | ||||||||||||||
| Operating lease liabilities, less current portion | 1,969,154 | 1,530,490 | _ | 4,805,520 | _ | - | _ | - | 8,305,164 | |||||
| Total liabilities | 2,220,239 | 1,685,596 | 5,418,532 | 172,600 | _ | 308,528 | 63,494 | - | 9,868,989 | |||||
| Equity: | ||||||||||||||
| Additional paid-in capital | - | 12,000 | - | - | - | - | - |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 69)
What This Means (2025 FDD)
According to the 2025 Lees Famous Recipe Franchise Disclosure Document, the reported inventory for LFRC Springfield is $105,021. This figure is part of the consolidated financial statements for Lee's 4-Wall, LLC, which includes several company-operated restaurants. The inventory represents the value of goods and supplies that LFRC Springfield holds for sale or use in its operations.
For a prospective Lees Famous Recipe franchisee, understanding the inventory value is crucial for assessing the financial health and operational efficiency of company-owned stores. While this specific figure pertains to a company-operated store, it can provide a benchmark for franchisees to compare their own inventory management and cost of goods sold. Efficient inventory management is essential for maximizing profitability and minimizing waste in a restaurant business.
It's important to note that this inventory value is as of a specific date (likely December 31, 2024, given the context of the financial statements) and can fluctuate based on various factors, including sales volume, seasonality, and supply chain dynamics. Franchisees should regularly monitor their inventory levels and implement strategies to optimize inventory turnover and reduce carrying costs. Comparing these figures with industry averages and other Lees Famous Recipe locations can further refine their operational strategies.