What was the total revenue for Lees Famous Recipe company-operated restaurants in 2022?
Lees_Famous_Recipe Franchise · 2025 FDDAnswer from 2025 FDD Document
pital | 11,998,011 | 11,998,011 | | Accumulated deficit | (594,697) | (839,693) | | Total stockholders' equity | 11,405,303 | 11,160,307 | | | | | | Total Liabilities and Stockholders' Equity | $ 48,801,487 | $ 48,083,792 |
ARTEMIS RESTAURANT CORP. CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE YEARS AND PERIOD ENDED DECEMBER 31, 2023, 2022 AND 2021
From the period from May 6, 2021 (inception) to December 31,
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Revenue: | |||
| Proprietary product revenue | $ 15,065,201 | $ 13,297,773 | $ 6,377,457 |
| Royalties | 1,191,981 | 1,081,966 | 540,737 |
| Franchise, license, and development fees | 67,273 | 174,335 | 7,500 |
| Sales by company-operated restaurants | 34,149,941 | 21,625,752 | 1,508,102 |
| Total revenue | 50,474,396 | 36,179,826 | 8,433,796 |
| Cost of Sales: | |||
| Proprietary products | 10,942,167 | 9,661,670 | 4,523,242 |
| Company-operated restaurant expenses - | |||
| Food and paper | 13,368,651 | 8,680,056 | 554,031 |
| Payroll | 9,899,246 | 6,136,297 | 425,501 |
| Occupancy and other operating expenses | 1,663,577 | 1,105,550 | 77,049 |
| Total cost of sales | 35,873,641 | 25,583,573 | 5,579,823 |
| Gross profit | 14,600,755 | 10,596,253 | 2,853,973 |
| General and Administrative Expenses | 11,708,829 | 9,679,419 | 3,222,506 |
| Operating income (loss) | 2,891,926 | 916,834 | (368,533) |
| Other Income (Expenses): | |||
| Administrative service inco |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 69)
What This Means (2025 FDD)
According to Lees Famous Recipe's 2025 Franchise Disclosure Document, the total revenue from sales by company-operated restaurants in 2022 was $21,625,752. This figure reflects the revenue generated by restaurants that are owned and operated directly by Lees Famous Recipe, rather than by franchisees.
For a prospective franchisee, this number provides insight into the revenue-generating potential of company-owned stores. While franchisee-owned stores may perform differently, understanding the revenue of company-operated restaurants can help in assessing the overall strength and consumer appeal of the Lees Famous Recipe brand. It also offers a benchmark against which franchisees can compare their own restaurant's performance.
It's important to note that this revenue figure does not represent the profitability of these restaurants, as it does not account for the costs associated with running them. To gain a complete financial picture, a potential franchisee should also consider the expenses associated with these company-operated restaurants, such as food and paper costs, payroll, and occupancy expenses, which are also detailed in the FDD. Reviewing both revenue and expenses will provide a more accurate understanding of the financial performance of Lees Famous Recipe's company-operated locations.