Restaurant Franchise Management Firm Posts Loss

ORLANDO-Ultimate Franchise Systems Inc., which owns the Sobik's Sub brand in Florida, reported a second-quarter loss of $726,665 or 2 cents a share, on revenue of $819,849.

By Alex Finkelstein | Updated on August 21, 2000

Ultimate Franchise Systems Inc. is in the red for the second quarter. The restaurant management company posted a loss of $726,665 or 2 cents a share on revenue of $819,849.

The company, based in nearby Longwood, lost $357,623 or 2 cents a diluted share on revenue of $1.2 million in the previous fiscal year.

Company officials attributed the second-quarter decline to the sale of 80% of its holdings in the Mountain Mike’s restaurant chain. Ultimate recently purchased a 100-unit, Tennessee-based hamburger chain that is expected to increase revenue. The company onws the Sobik’s brand in Florida.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

Unlimited access to GlobeSt and other free ALM publications
Access to 15 years of GlobeSt archives
Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
1 free article* every 30 days across the ALM subscription network
Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account? Sign In Now

Dig Deeper

Recommended Stories

11 Banks Throw a $30B Lifeline to First Republic. Expect a Volatile Ride for CRE

Erik Sherman | March 17, 2023

But is it enough to restore confidence and what are the implications for CRE?

New York Community Bank Buys A Third of Signature's Assets

Jack Rogers | March 20, 2023

Forty banks branches convert to Flagstar brand in $2.7B deal brokered by FDIC

Is Now a Good Time to Buy Office? Experts Weigh In

Richard Berger | March 20, 2023

History shows that opportunities now could prove to pay off.

Resource Center

The travel industry experienced a critical disruption with the pandemic. This white paper explores the lingering effects of the pandemic, takes a closer look at evolving traveler behavior, and analyzes what the resulting impacts are on foot traffic and surrounding businesses.

White Paper

Sponsored by Placer Labs Inc.

Navigating a New Normal in Business Travel

The travel industry experienced a critical disruption with the pandemic. This white paper explores the lingering effects of the pandemic, takes a closer look at evolving traveler behavior, and analyzes what the resulting impacts are on foot traffic and surrounding businesses.

Browse More Resources ›

This Q4 retail quarterly index report reveals how economic headwinds impacted key retail CRE categories during the critical holiday shopping season, and what their performance tells us about consumer behavior and brick-and-mortar retail in the year ahead.

Report

Sponsored by Placer Labs Inc.

The Retail Quarterly Index Report

This Q4 retail quarterly index report reveals how economic headwinds impacted key retail CRE categories during the critical holiday shopping season, and what their performance tells us about consumer behavior and brick-and-mortar retail in the year ahead.

Browse More Resources ›

Retailers faced a wide range of challenges in 2022. Yet, these 10 retail brands prove there are many untapped opportunities in the year ahead. Download this whitepaper to learn which top retail CRE brands are poised for big things in 2023.

White Paper

Sponsored by Placer Labs Inc.

10 Top Retail Brands to Watch in 2023

Retailers faced a wide range of challenges in 2022. Yet, these 10 retail brands prove there are many untapped opportunities in the year ahead. Download this whitepaper to learn which top retail CRE brands are poised for big things in 2023.

Browse More Resources ›

GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
Exclusive discounts on ALM and GlobeSt events.
Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now

Copyright © 2023 ALM Global, LLC. All Rights Reserved.