<DOCUMENT>
<TYPE>10QSB
<SEQUENCE>1
<FILENAME>form10qsb38504_5-11.txt
<TEXT>

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                                Washington, D.C.
                                   FORM 10-QSB

(x)  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

For the period ended        March 31, 2001
                    ----------------------------------------

                                       OR

(_)  TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR  15(d)  OF THE  SECURITIES
     EXCHANGE OF 1934


For the transition period from                      to
                               -------------------------------------------

Commission File Number                     I-6836
                      --------------------------------------------

                          Flanigan's Enterprises, Inc.
       ------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

         Florida                                           59-0877638
-------------------------------------------------------------------------------
(State or other jurisdiction of                        (I.R.S. Employer
 incorporation or organization)                        Identification No.)

5059 N.E. 18th Avenue, Fort Lauderdale, Florida               33334
-------------------------------------------------------------------------------
  (Address of principal executive offices)                  (Zip Code)

Registrant's telephone number, including area code, (954) 377-1961
                                                   ---------------

               2841 Cypress Creek Road, Fort Lauderdale, FL 33309
      (Former name, address and fiscal year, if changed from last report)

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months and (2) has been the subject to such filing requirements
for the past 90 days. Yes X No __

Indicate  the number of shares  outstanding  of each of the  issuers  classes of
Common Stock as of the latest practicable date 1,922,478


                                   - Page 1 -


<PAGE>


                  FLANIGAN'S ENTERPRISES, INC. AND SUBSIDIARIES
                  ---------------------------------------------

                              INDEX TO FORM 10-QSB

                                 MARCH 31, 2001


PART I.  FINANCIAL INFORMATION
         ---------------------

      1. UNAUDITED CONDENSED FINANCIAL STATEMENTS

         Consolidated  Summary of Earnings -- For the Thirteen  Weeks and Twenty
         six ended March 31, 2001 and April 1, 2000

         Consolidated Balance Sheets -- As of March 31, 2001 and
         September 30, 2000

         Consolidated  Statements  of Cash Flows for the Twenty Six Weeks  ended
         March 31, 2001 and April 1, 2000.

         Notes to Consolidated Financial Statements


      2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
         CONDITION AND RESULTS OF OPERATIONS


PART II. OTHER INFORMATION AND SIGNATURES
         --------------------------------


         6. Exhibits and Reports on Form 8-K
            (a) Exhibits
            (b) Reports on Form 8-K


                                   - Page 2 -


<PAGE>


                          FLANIGAN'S ENTERPRISES, INC.
                          ----------------------------
                   UNAUDITED CONSOLIDATED SUMMARY OF EARNINGS
                   ------------------------------------------
                     (In Thousands Except Per Share Amounts)


                                Thirteen Weeks    Twenty Six Weeks
                                    Ended              Ended
                              Mar. 31     Apr. 1  Mar. 31   Apr. 1
                               2001        2000     2001     2000
                              -------     ------  -------   ------
REVENUES:
 Restaurant food sales      $ 3,279     $ 3,040   $ 6,122  $ 5,714
 Restaurant bar sales           780         754     1,488    1,462
 Package good sales           2,351       2,273     4,924    4,924
 Franchise related revenues     320         223       604      432
 Owners fee                       95          68       158      105
 Joint venture income           165         200       320      291
 Other operating income         119          25       148       53
                              -----       -----    ------   ------
                              7,109       6,583    13,764   12,981
                              -----       -----    ------   ------
COSTS AND EXPENSES:
 Cost of merchandise sold
  restaurant and bar          1,515       1,363      2,812   2,520
 Cost of merchandise sold
  package goods               1,671       1,677     3,600    3,656
 Payroll and related costs    1,690       1,827     3,441    3,342
 Occupancy costs                258         241       489      526
 Selling, general and
  administrative expenses     1,188         805     1,992    1,698
                              -----       -----    ------   ------
                              6,322       5,913    12,334   11,742
                              -----       -----    ------   ------
   Income from operations       787         670     1,430    1,239
                              -----       -----    ------   ------

OTHER INCOME (EXPENSE):
 Interest expense on obligations
  under capital leases          (12)        (13)       (23)    (23)
 Interest expense on long term
  debt and damages payable      (39)        (31)       (73)    (51)
 Abandoned fixed assets         (37)          -       (60)       -
 Interest income                 14          14        24       30
 Recognition of deferred gains    1           1         2        2
 Other, net                       -          23        (2)      30
                              -----       -----     -----    -----
                                (73)         (6)     (132)     (12)
                              -----       -----     -----    -----

 Income before taxes            714         664     1,298    1,227



                                   - Page 3 -


<PAGE>

                  FLANIGAN'S ENTERPRISES, INC. AND SUBSIDIARIES
                  ---------------------------------------------
                   UNAUDITED CONSOLIDATED SUMMARY OF EARNINGS
                   ------------------------------------------
                     (In Thousands Except Per Share Amounts)


                                   (Continued)


                               Thirteen Weeks      Twenty Six Weeks
                                   Ended                Ended
                             Mar. 31     Apr. 1   Mar. 31    Apr. 1
                               2001       2000     2001       2000
                             -------     ------   -------    ------

PROVISION FOR INCOME TAXES    $ 130      $  91     $ 278     $ 277
                              -----      -----     -----     -----

   Net Income                 $ 584      $ 573    $1,020     $ 950
                              =====      =====    ======     =====


                                       For The Thirteen Weeks Ended
                                Mar. 31, 2001               Apr. 1, 2000
                       Numerator Denominator   EPS  Numerator Denominator  EPS
                       --------------------------------------------------------
Basic EPS               584,000   1,904,500   $.31   573,000   1,928,949  $ .30
Effective/dilutive
Stock Options                         9,960                      117,031
                       --------------------------------------------------------
Diluted EPS             584,000   1,914,460   $.31   573,000   2,045,980  $ .28
-------------------------------------------------------------------------------


                                       For The Twenty Six Weeks Ended
                                  Mar. 31, 2001               Apr. 1, 2000
                        Numerator  Denominator  EPS  Numerator Denominator  EPS
                        --------------------------------------------------------
Basic EPS               1,020,000   1,882,907  $.54   950,000   1,928,949  $ .49
Effective/dilutive
Stock Options                           4,322                     117,667
                        --------------------------------------------------------
Diluted EPS             1,020,000   1,887,229  $.54   950,000   2,046,616  $ .46
--------------------------------------------------------------------------------

The accompanying notes to consolidated financial statements are an integral part
of these statements.


                                   - Page 4 -

<PAGE>

                  FLANIGAN'S ENTERPRISES, INC. AND SUBSIDIARIES
                  ---------------------------------------------

                          CONSOLIDATED BALANCE SHEETS

                MARCH 31, 2001 (UNAUDITED) and SEPTEMBER 30, 2000
                -------------------------------------------------
                                 (In Thousands)


                                     ASSETS
                                     ------

<TABLE>
<CAPTION>
                                          MARCH 31     SEPTEMBER 30
                                            2001          2000
                                         ---------     -----------
<S>                                       <C>          <C>
 Cash and cash equivalents                $  1,271     $    739
 Notes and mortgages receivable,
  current maturities, net                      162          119
 Due from franchisees                          207          186
 Other receivables                             269          264
 Inventories                                 1,465        1,382
 Prepaid expenses                              368          318
 Deferred tax asset                            411          411
                                          --------     --------

     Total Current Assets                    4,153        3,419
                                          --------     --------

Property and Equipment                       5,516        5,317
                                          --------     --------

Leased Property Under Capital
 Leases, net                                    43           60
                                          --------     --------

Other Assets:
 Liquor licenses, net                          268          271
 Notes and mortgages receivable, net           325          147
 Investments in joint ventures               1,410        1,530
 Deferred tax asset                            251          251
 Other                                         208          214
                                          --------     --------

     Total Other Assets                      2,462        2,413
                                          --------     --------

     Total Assets                         $ 12,174     $ 11,209
                                          ========     ========
</TABLE>


                                   - Page 5 -

<PAGE>


                  FLANIGAN'S ENTERPRISES, INC, AND SUBSIDIARIES
                  ---------------------------------------------

                           CONSOLIDATED BALANCE SHEETS
                           ---------------------------

                MARCH 31, 2001 (UNAUDITED) AND SEPTEMBER 30, 2000
                -------------------------------------------------

                      LIABILITIES AND STOCKHOLDER'S EQUITY
                      ------------------------------------
                                 (In Thousands)

<TABLE>
<CAPTION>
                                             MARCH 31     SEPTEMBER 30
                                               2001           2000
                                           ------------   ------------
Current Liabilities:
<S>                                          <C>            <C>
 Accounts payable and accrued expenses      $  1,683        $ 1,514
 Current portion of long term debt               294            295
 Current obligations under capital leases         38             38
 Current portion of damages payable on
  terminated or rejected leases                  259            289
                                            --------       --------
     Total Current Liabilities                 2,274          2,136
                                            --------       --------

Long Term Debt, Net of Current
  Maturities                                   1,224          1,160
                                            --------       --------

Obligations Under Capital Leases,
 Net of Current Portion                          100            135
                                            --------       --------

Damages Payable On Terminated or Rejected
 Leases, Net of Current Portion                    -            111
                                            --------       --------

Stockholder's Equity:
 Common stock, 5,000,000 shares
  authorized, 4,197,642 shares issued            420            420
 Capital in excess of par value                6,028          6,052
 Retained earnings                             7,354          6,565
 Notes received on sale of common stock         (174)          (181)
 Less: Treasury stock, at cost
  2,301,164 shares at September 30,2000
  2,305,164 shares at March 31, 2001          (5,052)        (5,189)
                                            ---------      --------
     Total Stockholder's Equity                8,576          7,667
                                            ---------      --------

     Total Liabilities and
     Stockholder's Equity                   $ 12,174       $ 11,209
                                            =========      ========
</TABLE>

See notes to consolidated financial statements.


                                   - Page 6 -

<PAGE>


                  FLANIGAN'S ENTERPRISES, INC. AND SUBSIDIARIES
                  ---------------------------------------------

                 UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS
                 ----------------------------------------------

         FOR THE TWENTY SIX WEEKS ENDED MARCH 31, 2001 AND APRIL 1, 2000
         ---------------------------------------------------------------
                                 (In Thousands)


                                          MARCH 31      APRIL 1
                                            2001         2000
                                         ----------    --------

CASH FLOWS FROM OPERATING ACTIVITIES:
  Net income                              $ 1,020      $   950
  Adjustments to reconcile net income
   to net cash provided by operating
   activities:
     Depreciation and amortization of
     property, equipment and capital
     leases                                   361          334
  Amortization of liquor licenses               3            3
  Recognition of deferred gains and
     other deferred income                     (2)          (2)
  Joint venture income                       (320)        (291)
  Loss on abandoned property & equipment       60            -
  Deferred income taxes benefit                 -          112

  Changes in assets and liabilities:
    (Increase) decrease in:
       Notes receivable                       (43)         119
       Inventories                            (83)         (74)
       Prepaid expenses                       (50)         (56)
       Due from franchises                    (21)           -
       Other receivables                       (5)
       Other assets                             6           81
    Increase (decrease) in:
       Accounts payable and accrued
         expenses                             169          (16)
       Due to franchises                       -          (552)
                                            -----        -----
        Net cash provided by operating
        activities                          1,095          608
                                            -----        -----


                                   (continued)

                                   - Page 7 -

<PAGE>

                  FLANIGAN'S ENTERPRISES, INC. AND SUBSIDIARIES
                  ---------------------------------------------

                 UNAUDITED CONSOLIDATED STATEMENT OF CASH FLOWS
                 ----------------------------------------------

         FOR THE TWENTY SIX WEEKS ENDED MARCH 31, 2001 AND APRIL 1, 2000
         ---------------------------------------------------------------
                                 (In Thousands)

                                               March 31     April 1
                                                 2001        2000
                                              -----------  ---------

CASH FLOWS FROM INVESTING ACTIVITIES:
  Additions to notes and mortgages
   receivable                                    (178)          (77)
  Distributions from joint ventures               440           291
  Additions to property and equipment            (551)       (1,571)
  Purchase of treasury stock                      (18)         (166)
  Receipt of rent security for long
   term lease                                     200             -
  Additional investment in joint ventures           -          (188)
                                                -----         -----

         Net cash provided by (used
         in) investing activities                (107)       (1,711)
                                                -----         -----


CASH FLOWS FROM FINANCING ACTIVITIES:
  Increase in long term debt                        -          1,000
  Payments on long term debt                     (137)           (42)
  Payments of obligations under capital
   leases                                         (35)           (37)
  Payment on damages payable on
   terminated or rejected leases                 (141)           (69)
  Exercise of stock option                         81              -
  Payment of cash dividend                       (231)          (215)
  Payment of notes receivable on sale
   of common stock                                  7              -

                                                -----          -----
         Net cash provided by (used
         in financing activities                 (456)           637
                                                -----          -----

NET INCREASE (DECREASE) IN CASH AND
EQUIVALENTS                                       532          (466)

CASH AND EQUIVALENTS, BEGINNING OF YEAR           739         1,752
                                                -----         -----

CASH AND EQUIVALENTS, END OF QUARTER          $ 1,271       $ 1,286
                                               ======         =====


                                   - Page 8 -

<PAGE>

              NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS
              ----------------------------------------------------

                                 MARCH 31, 2001
                                 --------------

(1)  PETITION IN BANKRUPTCY:
     -----------------------

     On  November  5,  1985,  Flanigan's  Enterprises,  Inc.  (Flanigan's),  not
including  any of its  subsidiaries,  filed a  voluntary  petition in the United
States  Bankruptcy  Court  for the  Southern  District  of  Florida  seeking  to
reorganize  under  Chapter 11 of the Federal  Bankruptcy  Code.  In fiscal 1986,
Flanigan's  recorded  damages of  $4,278,000 in claims for losses as a result of
rejected  leases.  Because the damage  payments were to be made over nine years,
the  total  amount  due was  discounted  at a rate  of  9.25%,  Flanigan's  then
effective  borrowing  rate.  During  fiscal  years  1991  and  1992,  Flanigan's
renegotiated  the  payment of this  obligation  to extend into fiscal 2002 which
effectively reduced the discount rate to 3.71%. Certain other bankruptcy related
liabilities  including  excise and property  taxes,  settlements and past rents,
were  fixed as to amount  and have been  paid in full  pursuant  to the terms of
Flanigan's Plan of  Reorganization,  as amended and modified  (Plan).  On May 5,
1987 the Plan was  confirmed by the  Bankruptcy  Court and on December 28, 1987,
Flanigan's was officially discharged from bankruptcy.  All liabilities under the
Plan have been properly  accrued and  classified in the  accompanying  financial
statements.

(2)  BASIS OF PRESENTATION:
     ----------------------

     The financial information for the periods ended March 31, 2001 and April 1,
2000 are  unaudited.  Financial  information  as of September  30, 2000 has been
derived  from the audited  financial  statements  of the  Company,  but does not
include all disclosures required by generally accepted accounting principles. In
the opinion of  management,  all  adjustments,  consisting  of normal  recurring
adjustments,  necessary for a fair presentation of the financial information for
the periods indicated have been included.  For further information regarding the
Company's  accounting policies,  refer to the Consolidated  Financial Statements
and related notes  included in the  Company's  Annual Report on Form 10- KSB for
the year ended September 30, 2000. Operating results for interim periods are not
necessarily indicative of results to be expected for a full year.

(3) EARNINGS PER SHARE:
    -------------------

     Statements of Financial Accounting Standards ("SFAS") No. 128, Earnings per
share  establishes  standards for computing  and  presenting  earnings per share
("EPS"). This statement requires the presentation of basic and diluted EPS.


                                   - Page 9 -

<PAGE>


     The data on Page 4 shows the amounts used in  computing  earnings per share
and the effects on income and the weighted average number of shares of potential
dilutive common stock.

(3)  RECLASSIFICATION:
     -----------------

     Certain  amounts  in  the  fiscal  2000  financial   statements  have  been
reclassified to conform to the fiscal 2001 presentation.

(4)  FRANCHISE PROGRAM:
     ------------------

    During fiscal year 1995, the Company  completed a franchise  agreement for a
franchisee to operate a restaurant under the "Flanigan's  Seafood Bar and Grill"
servicemark  pursuant to a license from the Company. The franchise agreement was
drafted jointly with existing  franchisees with all  modifications  requested by
the  franchisees  incorporated  therein.  The franchise  agreement  provides the
Company with the ability to maintain a high level of food quality and service at
its  franchised  restaurants,  which are  essential  to a  successful  franchise
operation.  A franchisee  is required to execute a franchise  agreement  for the
balance  of the term of its lease for the  business  premises,  extended  by the
franchisee's continued occupancy of the business premises thereafter, whether by
lease or  ownership.  The  franchise  agreement  provides  for a royalty  to the
Company in an amount of approximately 3% of gross sales,  plus a contribution to
advertising in an amount of between  1-1/2% to 3% of gross sales.  In most cases
the Company does not sublease the  business  premises to the  franchisee  and in
those cases where it does,  the Company  does not receive  rent in excess of the
amount paid by the Company.

     All existing  franchisees  who operate  restaurants  under the  "Flanigan's
Seafood Bar and Grill" or other authorized service marks have executed franchise
agreements.

(5) INVESTMENT IN JOINT VENTURES:
    -----------------------------

    Miami, Florida

    The Company  operates a restaurant in Miami,  Florida under the  "Flanigan's
Seafood Bar and Grill" servicemark pursuant to a limited partnership  agreement.
The  Company  acts as the  general  partner  and  owns a fifty  percent  limited
partnership interest.

    Fort Lauderdale, Florida

    The Company  has a  franchise  agreement  with a limited  partnership  which
operates a restaurant  in Fort  Lauderdale,  Florida.  The Company owns a twenty
five  percent  limited  partnership  interest in the  franchise.  Other  related
parties,  including,  but not limited to,  officers and directors of the Company
and their families are also investors.


                                   - Page 10 -

<PAGE>

    Surfside, Florida

    The Company operates a restaurant in Surfside, Florida under the "Flanigan's
Seafood Bar and Grill" servicemark, pursuant to a limited partnership agreement.
The Company  acts as general  partner and also owns a forty two percent  limited
partnership  interest.  Other related  parties,  including,  but not limited to,
officers and directors of the Company and their families are also investors.

    Kendall, Florida

    During fiscal year 1999, the Company invested in a limited partnership which
constructed and now operates a restaurant under the "Flanigan's  Seafood Bar and
Grill"  servicemark  in  Kendall,  Florida.  Construction  began in 1999 and the
restaurant  opened for  business  in April  2000.  The  Company  acts as general
partner  and also  owns a forty  percent  limited  partnership  interest.  Other
related  parties,  including,  but not limited to officers and  directors of the
Company, and their families are also investors.

    West Miami, Florida

    During the third  quarter of fiscal year 2000,  the Company,  as agent for a
limited  partnership  to be formed,  entered  into a  contract  to  purchase  an
existing  restaurant  location  in West Miami,  Florida to renovate  and operate
under the "Flanigan's  Seafood Bar and Grill"  servicemark.  The funds necessary
for this joint venture will be raised  through a private  offering.  The Company
will act as general partner and also own up to forty percent limited partnership
interest.  The Company received the necessary zoning approvals and variances for
its  contemplated  use on April 19, 2001. It is anticipated that the renovations
will begin during the fourth quarter of fiscal year 2001 and the restaurant will
be open for business by the end of the fiscal year.

(6) INCOME TAXES:
    -------------

    Financial  Accounting  Standards  Board  Statement No. 109,  Accounting  for
Income Taxes,  requires  among other things,  recognition of future tax benefits
measured at enacted  rates  attributable  to  deductible  temporary  differences
between  financial  statement and income tax bases of assets and liabilities and
to tax net  operating  loss  carryforwards  and tax  credits to the extent  that
realization of said tax benefits is more likely than not. The deferred tax asset
was $662,000 as of March 31, 2001 and as of September 30, 2000.


                                   - Page 11 -

<PAGE>

(7) COMMITMENTS AND CONTINGENCIES:
    ------------------------------

    Guarantees

    The Company  guarantees various leases for franchisees and locations sold in
prior  years.  Remaining  rental  commitments  required  under these  leases are
approximately  $1,500,000.  In  the  event  of a  default  under  any  of  these
agreements, the Company will have the right to repossess the premises.

    Litigation

    The  Company  is a party to various  litigation  matters  incidental  to its
business. Certain claims, suits and complaints arising in the ordinary course of
business have been filed or are pending against the Company.

    Certain states have "liquor  liability" laws which allow a person injured by
an  "intoxicated  person" to bring a civil suit  against the business (or social
host) who  served  intoxicating  liquors to an  already  "obviously  intoxicated
person",  known as "dram  shop"  claims.  Florida has  restricted  its dram shop
claims by  statute,  permitting  persons  injured by an  "obviously  intoxicated
person" to bring a court  action  only  against  the  business  which had served
alcoholic  beverages  to a minor  or to an  individual  known  to be  habitually
addicted  to alcohol.  The  Company is  generally  self-  insured for  liability
claims,  with major losses partially covered by third-party  insurance carriers.
The extent of this coverage  varies by year.  The Company  currently has no dram
shop  cases  pending.  For  further  discussion  see the  section  headed  Legal
Proceedings  on page 14 of the  Company's  Annual Report on Form 10- KSB for the
fiscal year ended September 30, 2000.

    The Company  accrues for  potential  uninsured  losses based upon  estimates
received from legal counsel and its historical experience, when uninsured claims
are  pending.  Such  accrual is  included in the  "Accounts  payable and accrued
expenses".  See Note 5 in the  Company's  Annual  Report on Form  10-KSB for the
fiscal year ended September 30, 2000.

    During  fiscal year 2000,  the Company  was served with  several  complaints
alleging  violations of the Americans with Disabilities Act, ("ADA"),  at all of
its  locations.   The  lawsuits  included   restaurants  owned  by  the  limited
partnerships  and  franchisees.  The  sudden  influx of  lawsuits  alleging  ADA
violations  was due to the fact it is  likely  that the ADA will be  amended  to
include a provision requiring plaintiffs to provide the potential defendant with
90 days notice of ADA  violations  prior to filing  suit,  during which time the
violations may be corrected.  As of now, the ADA has no notice provision and the
first time the Company  received  notice of any ADA  violations  was when it was
served with a copy of the complaint.


                                   - Page 12 -

<PAGE>

    The Company has retained an ADA expert,  who is in the process of inspecting
all locations,  including the limited  partnerships  and  franchisees,  and will
provide  a  report  setting  forth  the ADA  violations  which  will  need to be
corrected. It is the Company's intent to correct all ADA violations noted by its
ADA expert and then  vigorously  defend the lawsuits  arguing that all locations
are in  compliance.  The cost to correct the ADA  violations  is included in the
budget for capital improvements for fiscal year 2001.

(8) MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
    --------------------------------------------------------------
    RESULTS OF OPERATIONS:
    ----------------------

    The Company owns and/or  operates full service  restaurants,  package liquor
stores and an entertainment oriented club (collectively the "units").The Company
had  interests  in seven  additional  units  which have been  franchised  by the
Company. The table below sets out the changes, if any, in the type and number of
units being operated.
                           Mar. 31   Sep. 30   Apr. 1     Note
                            2001       2000     2000     Numbers
                           -------  --------   ------    -------
Combination package
 and restaurant               4        4         4
Restaurant only               6        6         5       (1)(2)
Package store only            3        4         4       (3)(8)
Clubs                         1        1         1
                           ------   ------     -----

Total Company operated
 units                       14       15        14

Franchised units              7        7         7


Notes:
(1) During the third  quarter of fiscal year 2000,  the Company,  as agent for a
limited  partnership  to be formed,  entered  into a  contract  to  purchase  an
existing restaurant  location in West Miami,  Florida, to renovated an operate a
restaurant under the "Flanigan's Seafood Bar & Grill"  servicemark.  The Company
received its special use and zoning  variance  with Miami Dade County,  Florida,
during the third quarter of fiscal year 2001. The limited partnership will raise
funds to purchase and renovate the business premises. The restaurant is expected
to open for  business by the end of fiscal year 2001 and is not  included in the
table of units.

(2) During fiscal year 2000, the Company received official notification from the
State  of  Florida,  Department  of  Transportation,  ("DOT"),  that the DOT was
exercising its right of eminent domain to "take" the hotel property upon which a
restaurant, operated by the Company as general partner of a limited partnership,
is located. It is anticipated that the DOT will take title to the hotel property
during the first quarter of fiscal year 2002, at which time the restaurant  will
be forced to close.


                                   - Page 14 -

<PAGE>

(3) During the fourth  quarter of fiscal year 2000,  the Company  entered into a
lease agreement for the operation of a package liquor store in Hialeah, Florida.
The Company  received  approved  zoning during the second quarter of fiscal year
2001 and expects the package  liquor  store to be open for  business  during the
fourth quarter of fiscal year 2001. This package liquor store is not included in
the table of units.

(8) The lease for one (1) package liquor store owned and operated by the Company
in Lake Worth,  Florida expired on December 31, 2000 and the Company elected not
to exercise  its five year  renewal  option to extend the term of the same.  The
store was closed  permanently  as of December 27, 2000.  The Company  realized a
loss of $23,000 as a result of the closing.  During the past five (5) years, the
store has operated at approximately  break even. The Company does not expect the
closing to have a material  effect on the Company.  The package liquor store not
included in the table of units as of March 31, 2001.

Liquidity and Capital Resources

    Cash Flows

     The following  table is a summary of the Company's cash flows for the first
twenty six weeks of fiscal years 2001 and 2000.

                                        Twenty Six Weeks Ended
                                         March 31,    April 1,
                                           2001         2000
                                         ---------    --------
                                           (In Thousands)

Net cash provided by operating
 activities                              $ 1,095      $   608
Net cash used in investing
 activities                                 (107)      (1,711)
Net cash used in financing
 activities                                 (456)         637
                                         --------     -------

Net Increase (Decrease) in Cash
and Cash Equivalents                         532         (466)

Cash and Cash Equivalents, Beginning         739        1,752
                                         -------      -------

Cash and Cash Equivalents, Ending        $ 1,271      $ 1,286
                                         =======      =======

    On February 14, 2001,  the Company  declared a cash dividend of 12 cents per
share payable on March 17, 2001 to shareholders of record on March 1, 2001.


                                   - Page 15 -

<PAGE>

Capital Expenditures

    The Company had additions to fixed assets of $555,000  during the twenty six
weeks ended March 31,  2001 as compared to  $1,571,000  for the twenty six weeks
ended April 1, 2000 and $1,860,000 for the fiscal year ended September 30, 2000.
The  additions  for the first  twenty  six weeks of ended  April 1, 2000 and the
fiscal year ended  September  30, 2000 included the  acquisition  of a two story
office  building in Fort  Lauderdale,  Florida for  $850,000  paid in cash.  The
Company has re-located its corporate  headquarters to this building and plans to
open a package liquor store a portion of the ground floor.

All of the Company's  units  require  periodic  refurbishing  in order to remain
competitive.  During  fiscal  year  1992,  as cash flow  improved,  the  Company
embarked on a refurbishing program which continues through the fiscal year 2001.
The budget for fiscal year 2001, as adjusted, includes $500,000 for this program
and $500,000 to renovate the office building. The Company believes that improved
operations  will  provide the cash to continue  the  refurbishing  program.  The
budget  includes  the  estimated  costs  which  will be  incurred  with  the ADA
lawsuits. The Company has in place a refurbishing plan through the end of fiscal
year 2001.

    Working Capital

    The table below  summarizes the current  assets,  current  liabilities,  and
working capital for the fiscal quarters ended March 31, 2001,  April 1, 2000 and
the fiscal year ended September 30, 2000.

                                    Mar. 31,  Apr. 1,    Sep. 30,
    Item                             2001      2000        2000
    ----                            -------   -------    -------
                                          (In Thousands)

    Current Assets                 $ 4,153   $ 3,508    $ 3,419
    Current Liabilities              2,274     2,360      2,136
    Working Capital                  1,879     1,148      1,283

    In January of fiscal year 2000,  the Company  borrowed the sum of $1,000,000
from Bank of America,  d/b/a Nations Bank. The promissory note earns interest at
prime rate, payable monthly on the outstanding principal balance, with quarterly
payments of principal commencing July 1, 2000 at the rate of $50,000 per quarter
for 8 quarters,  and then at the rate of $75,000 per quarter for 8 quarters,  at
which time any outstanding  principal  balance and all accrued interest shall be
due in full. The promissory note is secured by a security interest in all assets
of the Company,  including  the office  building  purchased by the Company.  The
promissory  note may be  prepaid  at any  time,  in  whole or in part,  with any
prepayments applying against the quarterly payment or payments of principal next
due.


                                   - Page 16 -

<PAGE>


    The Company has made an application  with Bank of America to borrow up to an
additional $1,000,000 which will be secured by a mortgage on the newly renovated
office  building.  The  purpose of the loan is to insure  that the  Company  has
sufficient  funds readily  available for  investment in new  locations,  whether
Company  owned or as an  investment  in a limited  partnership  created for such
purpose.

    The  $207,000  due from  franchisees  represents  monies  used  for  capital
expenditures of the franchised  units.  The Company expects these monies will be
repaid to the Company within the next six months.

    Legal Matters

    See  "Litigation"  on page 13 of this report and Item 1 and Item 3 to Part 1
of the Annual Report on Form 10-KSB for the fiscal year ended September 30, 2000
for a discussion of other legal proceedings resolved in prior years.

Results of Operation

                                    Thirteen Weeks Ended
                                  March 31,            April 1,
                                    2001                2000
                               Amount  Percent     Amount  Percent
                               ---------------     ---------------
                                           (In Thousands)

Restaurant food sales         $ 3,279   51.15       $ 3,040  50.11
Restaurant bar sales              780   12.17          754   12.43
Package goods sales             2,351   36.68        2,273   37.46
                                -------------        -------------
Total sales                     6,410  100.0         6,067  100.0

Franchise related revenues        320                  223
Owners fee                         95                   68
Joint venture income              165                  200
Other operating income            119                   25
                                -----                -----

Total Revenue                 $ 7,109              $ 6,583
                                =====                =====



                                   - Page 17 -



<PAGE>



                                     Twenty Six Weeks Ended
                                  March 31,           April 1,
                                    2001                2000
                                Amount  Percent    Amount  Percent
                                ---------------    ---------------
                                            (In Thousands)

Restaurant food sales         $ 6,122    48.84      $ 5,714  47.22
Restaurant bar sales            1,488    11.87        1,462  12.08
Package good sales              4,924    39.29        4,924  40.70
                               ------    -----        -----  -----

Total sales                    12,534   100.00       12,100 100.00

Franchise related revenues        604                   432
Owners fee                        158                   105
Joint venture income              320                   291
Other operating income            148                    53
                               ------                ------

Total Revenue                $ 13,764              $ 12,981
                               ======                ======

   Restaurant  food sales  represented  51.15% and 48.84% of total  sales in the
thirteen  weeks and  twenty  six  weeks of fiscal  year  2001,  respectively  as
compared  to 50.11% and 47.22% of total sales in the  thirteen  weeks and twenty
six weeks of fiscal year 2000,  respectively.  The increase  reflects the higher
volume of food sales.  The weekly  average of same store  restaurant  food sales
were  $235,357  and  $219,769  for the twenty six weeks ended March 31, 2001 and
April 1, 2000  respectively,  an  increase of 7.1%.  The weekly  average of same
store  restaurant  food sales were $252,105 and $233,758 for the thirteen  weeks
ended March 31, 2001 and April 1, 2000 respectively, an increase of 7.9%.

   Restaurant  bar sales  represented  12.17% and  11.87% of total  sales in the
thirteen  weeks and twenty six weeks of fiscal year 2001,  as compared to 12.43%
and 12.08% of total  sales in the  thirteen  and twenty six weeks of fiscal year
2000,  respectively.  The weekly average of same store restaurant bar sales were
$57,239  and  $56,235 for the twenty six weeks ended March 31, 2001 and April 1,
2000  respectively,  an increase of 1.8%.  The weekly  average of same store bar
sales were $59,985 and $58,035 for the  thirteen  weeks ended March 31, 2001 and
April 1, 2000 respectively, an increase of 3.4%.

   Package  good  sales  represented  36.68%  and  39.29% of total  sales in the
thirteen  weeks and  twenty  six weeks of fiscal  year  2001,  respectively,  as
compared  to 37.46% and 40.70% of total sales in the  thirteen  weeks and twenty
six weeks of fiscal year 2000,  respectively.  The weekly  average of same store
package  good sales were  $181,872  and  $171,139 for the twenty six weeks ended
March 31, 2001 and April 1, 2000  respectively,  an increase of 6.3%. The weekly
average of same store  package  good sales were  $180,903  and  $157,667 for the
thirteen weeks ended March 31, 2001 and April 1, 2000 respectively,  an increase
of 14.7%.


                                   - Page 18 -

<PAGE>

The increase for the thirteen weeks was caused by the New Years holiday  falling
in the second  quarter of fiscal year 2001 as  compared to the first  quarter in
fiscal year 2000.

    The gross  profit  margin for  restaurant  sales was 62.7% and 64.1% for the
thirteen weeks ended March 31, 2001 and April 1, 2000,  respectively.  The gross
profit margin for restaurant  sales was 63.0% and 64.9% for the twenty six weeks
ended March 31, 2001 and April 1, 2000, respectively.  The decrease in the gross
profit margins is attributable to higher food costs.

   The gross  profit  margin for package good stores was 28.9% and 26.2% for the
thirteen weeks ended March 31, 2001 and April 1, 2000,  respectively.  The gross
profit  margin for  package  good  stores was 26.9% and 25.7% for the twenty six
weeks ended March 31, 2001 and April 1, 2000, respectively.

   Franchise  related revenues were $320,000 and $223,000 for the thirteen weeks
ended  March 31,  2001 and April 1, 2000  respectively,  an  increase  of 43.5%.
Franchise  related  revenues were $604,000 and $432,000 for the twenty six weeks
ended March 31, 2001 and April 1, 2000  respectively,  an increase of 39.8%. The
increase is  attributable  to an additional  joint venture being operated by the
Company  during the entire  twenty six weeks and thirteen  weeks ended March 31,
2001,  as  compared  to the twenty six weeks and  thirteen  weeks ended April 1.
Additionally  increased  sales for both the joint  ventures  and the  franchised
stores have contributed for increased franchise related revenues.

   The owners fee was $95,000 and $68,000 for the thirteen weeks ended March 31,
2001 and April 1, 2000  respectively,  an increase of 39.7%.  The owners fee was
$158,000 and $105,000 for the twenty six weeks ended March 31, 2001 and April 1,
2000  respectively,  an increase of 50.1% The  increase is due to the  increased
volume of sales at the club.

   Joint venture  income was $165,000 and $200,000 for the thirteen  weeks ended
March 31,  2001 and April 1,  2000  respectively,  a  decrease  of 17.5%.  Joint
venture  income was  $320,000  and $291,000 for the twenty six weeks ended March
31, 2001 and April 1, 2000 respectively, an increase of 10.0%.

Operating Costs and Expenses

   Operating  costs and expenses were $6,322,000 and $5,913,000 for the thirteen
weeks ended March 31, 2001 and April 1, 2000  respectively,  an increase of 6.9%
Operating costs and expenses were $12,334,000 and $11,742,000 for the twenty six
weeks ended March 31, 2001 and April 1, 2000 respectively, an increase of 5.1%



                                   - Page 19 -

<PAGE>

   Payroll and related costs, which includes workers compensation insurance were
$1,690,000  and $1,827,000 for the thirteen weeks ended March 31, 2001 and April
1, 2001  respectively,  a decrease of 7.5%.  Payroll and  related  costs,  which
includes workers  compensation  insurance were $3,441,000 and $3,342,000 for the
twenty  six weeks  ended  March 31,  2001 and  April 1,  2000  respectively,  an
increase of 3.0%.  Payroll and related costs include the Company's  contribution
to the employee health insurance.

   Occupancy  costs which include  rent,  common area  maintenance,  repairs and
taxes were $258,000 and $241,000 for the thirteen weeks ended March 31, 2001 and
April 1, 2000 respectively,  an increase of 7.1%.  Occupancy costs which include
rent, common area maintenance,  repairs and taxes were $489,000 and $526,000 for
the twenty six weeks  ended  March 31,  2001 and April 1, 2000  respectively,  a
decrease of 7.0%.

   Selling, general and administrative expenses were $1,188,000,000 and $805,000
for the thirteen weeks ended March 31, 2000 and April 1, 2000  respectively,  an
increase of 47.6%. Selling,  general and administrative expenses were $1,992,000
and  $1,698,000  for the twenty six weeks ended March 31, 2001 and April 1, 2000
respectively,  an  increase  of 17.3%.  The  increase  in  selling,  general and
administrative  expenses was  attributable  to a large increase in promotion and
advertising expenses including the Company's television advertising.

Trends

   During the next twelve  months  management  expects  continued  increases  in
restaurant  and package  sales with  increases  in income  from joint  ventures.
Management  also  anticipates a reduced food gross profit margin from restaurant
food sales and moderate increases in other expenses.


                                   - Page 20 -

<PAGE>



PART II. OTHER INFORMATION
--------------------------

Item 6.  Exhibits and Reports on Form 8-K

a. Exhibits - None

b. Reports on Form 8-K - None





                                   - Page 20 -

<PAGE>


                                   SIGNATURES

Pursuant to the  requirements  of the  Securities  and Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned  thereto duly  authorized.  The information  furnished  reflects all
adjustments to the statement of the results for the interim period.


                        FLANIGAN'S ENTERPRISES, INC.


                                    /s/ Joseph G. Flanigan
                        -------------------------------------------------
                           JOSEPH G. FLANIGAN, Chief Executive Officer

Date   5/14/01
    ------------

                                    /s/ Edward A. Doxey
                        -------------------------------------------------
                           EDWARD A. DOXEY, Chief Financial Officer

Date   5/14/01
    ------------





                                   - Page 21 -
</TEXT>
</DOCUMENT>
