Estimating Data When Exact Figures Aren't Available

Despite our best efforts, there are instances where exact figures are not publicly available, particularly for private companies. In these cases, we employ several estimation techniques:

1. Imputed Revenue Calculation

   • When exact revenue figures aren't available, we calculate an imputed revenue.

   • This is done by multiplying the average sales per location by the number of US stores.

   • If average sales per location aren't available, we conduct research using reputable databases and sites, and estimate based on comparable companies in the same segment and price point.

2. Store Count Estimation

   • For private companies that don't disclose store counts, we use a combination of press releases, news articles, and industry reports to estimate the number of locations.

   • We regularly update these estimates as new information becomes available.

3. Average Check Size Estimation

   • When not provided in financial reports, we estimate average check size through a detailed analysis of menu prices and typical ordering patterns.

   • This process involves reviewing current menus and analyzing consumer behavior to determine the most accurate average check size:

     • We developed a spending profile for each restaurant type, taking into account whether it's a quick-service establishment where customers generally purchase a drink and meal, or a sit-down restaurant where they might order an appetizer, main course, and dessert—or just one of these options—to estimate the average check size.

4. Comparative Analysis

   • We often use data points from similar companies in the same market segment as comparison points for when we estimate figures for private companies.

5. Historical Data Trending

   • For companies with some historical data available, we use trend analysis to project current figures when recent data is unavailable.

   • This method takes into account past growth rates and industry trends.