In this FDD Talk post based on Item 19 of T.G.I. Friday’s 2014 FDD, you will find the answers to the following questions:

• What were the details of the 2013 average profit and loss statement for company-owned and joint venture T.G.I. Friday’s units?

• Does T.G.I. Friday’s profit and loss statement contain an item for royalty obligations?

• Does the statement include information for franchised units? If not, why not?

• How many company-owned and joint venture units were excluded from the profit and loss statement, and what were the reasons for their exclusion?

• As of December 30, 2013, what was the average length of time that the company-owned restaurants included in the statement have been open?

• Where are company-owned units typically located?

• What are some of the factors that can have a material impact on sales and expenses?

• How does the franchisor define the following terms:  Sales; Cost of Sales; Gross Profit; Labor Cost; Controllable Operating Expenses; Profit After Controllable Expenses; Management Training Expenses; Marketing Expenses; Rent, Renovation, Taxes, and Common Area Expenses; Other Occupancy Costs; and Restaurant Operating Profit?

• How may restaurants attained or surpassed the average Sales figure? How many restaurants were below the average Sales figure?

• How may restaurants attained or surpassed the average Restaurant Operating Profit figure? How many restaurants were below the average Restaurant Operating Profit figure?

• What are Franchise Chatter’s views on T.G.I. Friday’s most recent financial performance representations?

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