NAF NAF MIDDLE EASTERN GRILL

Data Based On: Financial performance representations for Net Sales are based on 32 NAF NAF Restaurants (16 affiliate-owned, 16 franchisee-owned) open for at least 52 consecutive weeks in Fiscal Year 2024. EBITDAR data for profit estimation is based on 16 company-owned restaurants open for 52 consecutive weeks in Fiscal Year 2024.

* Franchisee average gross revenue is $855,032 (from Page 3). Company-owned EBITDAR data was used to estimate a profit range for franchisees. The company-owned EBITDAR margin ranged from approximately 18.08% (calculated as lowest company unit EBITDAR $177,072 / lowest company unit Net Sales $979,174) to approximately 31.17% (calculated as highest company unit EBITDAR $484,218 / highest company unit Net Sales $1,553,238) (data from Page 5). Franchisee additional expenses (Royalty, Local Marketing, Brand Fund, Annual Tech Fee) average $103,504 and median $105,472 (from Page 7). Best guess profit low: (Franchisee Average Gross Revenue * Low EBITDAR Margin) - Median Additional Franchisee Expenses = ($855,032 * 0.180838) - $105,472 = $49,150.39. Best guess profit high: (Franchisee Average Gross Revenue * High EBITDAR Margin) - Average Additional Franchisee Expenses = ($855,032 * 0.311747) - $103,504 = $163,050.05. This profit estimate is before interest, taxes, depreciation, and amortization.