What was the total of other expenses for Lees Famous Recipe?
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): | ||||||||
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 69)
What This Means (2025 FDD)
According to the 2025 FDD, the financial statements for Lees Famous Recipe include details on "Occupancy and other operating expenses" for company-operated restaurants. These expenses are broken down by specific locations. For instance, LFRC Ocala had $618,442 in occupancy and other operating expenses, while LFRC Lima had $643,922. LFRC Springfield reported $1,530,311, LFRC Mt. Sterling had $315,620, LFRC Ft. Wayne had $250,271 and LFRC Sanford had $14,224. The total for all of Lee's 4-Wall LLC locations was $3,372,790.
Additionally, the FDD provides a separate breakout for LFRC Ocala and LFRC Lima individually, showing occupancy and other operating expenses of $22,657 and $54,392, respectively, which sum to the $77,049 reported for Lee's 4-Wall LLC. This level of detail can help a prospective franchisee understand the range of these expenses across different company-operated locations.
It is important to note that these figures pertain specifically to company-operated restaurants and may not directly translate to franchised locations. Factors such as local market conditions, lease agreements, and operational efficiencies can significantly impact these expenses for individual franchisees. A prospective franchisee should inquire about the typical range of these expenses for franchised locations and understand the factors that can influence them.