Highlights of Golden Corral’s Item 19 Financial Performance Representations (2013 FDD) – Part 1
Statement of Average Annual Sales of Franchised Golden Corral Restaurants
- The following two tables provide annual sales information for the period December 29, 2011 through January 2, 2013, by building design, for the 338 franchised Restaurants utilizing the GC-10, GC-11S, or GC-11M building designs which had been in operation at least 6 months as of January 2, 2013.
- The results of 7 other franchised Restaurants which utilized one of these 3 Restaurant designs are not included in the tables because the Restaurants had not been in operation for at least 6 months as of January 2, 2013.
- Each table divides the franchised Restaurants into three categories based on ranges of annual sales volume within each category of building design. These categories are identified as the “Top 1/3,” “Middle 1/3,” and “Bottom 1/3.” An overall high and low range for each category of building design also appears.
- Table 1 includes data from 199 franchised Restaurants that were originally constructed using a specialized equipment package and floor plan (“Strata Restaurants”). Table 2 describes the results of these 199 Strata Restaurants.
- Golden Corral has not audited these franchisee-prepared results which have been reported to it by its franchisees, but the franchisor has no reasonable basis to question their reliability.
- These restaurants are located in Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Missouri, Mississippi, Montana, Nebraska, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, and Wisconsin.
- The two tables below do not include the results of franchised Restaurants that do not utilize a GC-10, GC-11S, or GC-11M Restaurant design. There are 17 Restaurants which utilize older and smaller Restaurant design configurations that are no longer being built. There are also two units that utilize the new Pavilion building type.
- The results of those franchised Restaurants that were open for more than six months but fewer than 12 months have been annualized to conform their data to the presentation of the annual results that appear in the two tables.
- The information for franchised Restaurants reflects average annual sales, and does not include the cost of sales, operating expenses, or other costs or expenses that must be deducted from sales in order to determine net income or profit.
GC-11M Building Design