Good Times Restaurants Inc. (GTIM): history, ownership, mission, how it works & makes money

A Brief History of Good Times Restaurants Inc. (GTIM)

Founding and Early Years

Good Times Restaurants Inc. (GTIM) was established in 1987 in Colorado. The company specifically focused on providing customers with a unique dining experience centered around quality burgers and shakes. The first restaurant opened in the Denver area.

Public Offering and Expansion

In 1992, Good Times Restaurants Inc. went public, trading under the ticker symbol GTIM. The initial public offering aimed to fund expansion efforts. The company experienced rapid growth during the 1990s, with the number of locations increasing to over 20 by the end of the decade.

Financial Performance and Challenges

By 2000, Good Times reported annual revenues of approximately $14 million. However, the early 2000s brought operational challenges, leading to store closures and restructuring efforts. In 2002, GTIM closed three underperforming locations, resulting in a significant loss of approximately $1.3 million.

Management Changes and Rebranding

In 2005, a new management team was put in place to revitalize the brand. The company undertook a rebranding initiative, focusing on healthier menu options. This shift included the introduction of items such as buffalo chicken wraps and salads.

Recent Growth and Strategic Developments

As of 2021, Good Times reported a significant turnaround, with revenues reaching approximately $22 million. The company opened two additional locations in Colorado, bringing the total to 34 restaurants. The stock price saw impressive growth, rising from about $1.50 in early 2020 to over $5.50 by the end of 2021.

Financial Highlights

Menu Innovations and Customer Engagement

The company continued to evolve its menu with the introduction of plant-based options in 2019. This move aimed at attracting a wider demographic, particularly health-conscious consumers. Customer engagement through social media platforms increased, leading to a broader brand reach.

Impact of COVID-19

The COVID-19 pandemic in 2020 posed significant challenges for Good Times. However, the company adapted by enhancing its drive-thru services and implementing safety protocols. Revenue in 2020 was reported at approximately $19 million, showcasing resilience amidst the crisis.

Future Outlook

With plans for further expansion within the Colorado region, the company aims to increase its market share. As of 2023, Good Times Restaurants' strategic focus includes leveraging technology for improved customer service and operational efficiency.

Current Market Position

As of October 2023, Good Times Restaurants Inc. operates approximately 37 locations throughout Colorado. The ongoing commitment to quality and innovation continues to play a crucial role in the company's growth strategy.

A Who Owns Good Times Restaurants Inc. (GTIM)

Current Ownership Structure

As of the latest filings for the fiscal year ending 2023, Good Times Restaurants Inc. (GTIM) has a varied ownership structure. The company is publicly traded under the ticker symbol GTIM. The following table details the major shareholders and their respective ownership percentages.

Board of Directors

The governance of Good Times Restaurants Inc. is overseen by a Board of Directors comprising various professionals. The following table outlines the current members and their respective roles.

Recent Financial Performance

Good Times Restaurants Inc. has shown notable financial performance metrics as of the end of the fiscal year 2023. Below is the financial performance summary.

Future Ownership Considerations

As Good Times Restaurants Inc. continues to evolve, potential shifts in ownership and governance are subject to investor activities and market conditions. Monitoring key stakeholders and trends in the industry could provide insights into future ownership dynamics.

Good Times Restaurants Inc. (GTIM) Mission Statement

Company Overview

Good Times Restaurants Inc. operates in the fast-casual dining segment, primarily offering burgers, chicken, and other classic American fare. The company also focuses on providing high-quality, fresh ingredients in its menu items. As of 2023, GTIM operates a number of locations primarily in Colorado, with future expansion plans under consideration.

Mission Statement

The mission of Good Times Restaurants Inc. is to provide customers with a superior dining experience through exceptional service and high-quality food. The company seeks to create an inviting atmosphere that focuses on the satisfaction of its patrons, encouraging repeat visits and brand loyalty.

Core Values

• Quality: Commitment to fresh and high-quality ingredients.
• Service: Delivering exceptional customer experiences.
• Community: Building relationships within the communities served.
• Innovation: Continuously improving menu options and dining experiences.

Financial Performance

For the fiscal year ended September 30, 2022, Good Times Restaurants Inc. reported the following financial figures:

Goals and Objectives

Good Times Restaurants Inc. aims to achieve the following objectives in line with its mission statement:

• Expand the number of restaurant locations from 30 to 50 by the year 2025.
• Increase annual revenue by 10% year-over-year through new menu items and promotions.
• Enhance customer service training programs to improve customer satisfaction ratings.
• Promote sustainability by implementing eco-friendly practices in all restaurants.

Recent Strategic Initiatives

In 2023, Good Times Restaurants Inc. launched several strategic initiatives aligned with its mission statement:

• Introduction of plant-based menu options to cater to changing consumer tastes.
• Partnership with local suppliers to promote fresh and sustainable ingredients.
• Implementation of a customer feedback program aimed at continually improving the dining experience.

Conclusion

Good Times Restaurants Inc. remains dedicated to its mission of providing a superior dining experience. The company's focus on quality, service, and community aims to strengthen its position in the fast-casual dining industry.

How Good Times Restaurants Inc. (GTIM) Works

Company Overview

Good Times Restaurants Inc. (GTIM) operates a diverse portfolio of fast-casual dining options in the United States, primarily known for its hamburger and ice cream restaurants. As of the end of the fiscal year 2023, GTIM had revenues of approximately $29.4 million.

Business Model

GTIM operates two primary brands: Good Times Burgers & Frozen Custard and Bubba's 33. The company focuses on high-quality ingredients, unique menu offerings, and an engaging customer experience. They utilize a franchise-based model alongside corporate-owned locations.

Financial Performance

In its fiscal year ending September 30, 2023, GTIM reported the following financial metrics:

Locations and Expansion

As of the end of 2023, GTIM operates 35 locations across Colorado and Wyoming. The company plans to expand its footprint with a goal of opening 5 new locations by the end of 2025.

Menu Offerings

GTIM has a diverse menu that focuses on gourmet burgers, chicken sandwiches, salads, and frozen custard. Below are some key items:

• Burgers: 10 unique varieties, including the "Bacon Cheeseburger" and "Veggie Burger"
• Frozen Custard Flavors: 18 rotating flavors
• Salads: 5 options, featuring fresh ingredients
• Soft Drinks: Includes national and local brands

Marketing Strategies

Good Times employs various marketing strategies such as:

• Social Media Campaigns: Engaging users on platforms like Instagram and Facebook
• Local Sponsorships: Partnering with local events and sports teams
• Promotional Offers: Seasonal promotions to attract new customers

Sustainability Practices

GTIM actively engages in sustainability efforts through:

• Using recyclable packaging materials
• Implementing energy-efficient appliances
• Participating in local food sourcing initiatives

Workforce and Employment

As of 2023, GTIM employs approximately 450 individuals across its locations, focusing on creating a supportive work environment and opportunities for career advancement.

Stock Performance

As of October 2023, GTIM's stock was trading at approximately $1.85 per share, with a market capitalization of about $15 million.

Future Outlook

The company aims for a 10% annual growth in revenue, targeting expansion in both existing and new markets, while continually enhancing its menu and customer experience.

How Good Times Restaurants Inc. (GTIM) Makes Money

Revenue Streams

Good Times Restaurants Inc. primarily generates its revenue through various operational channels, predominantly through sales in its restaurants. The key revenue streams include:

• Food and beverage sales
• Franchise royalties
• Merchandising

Restaurant Sales

GTIM operates multiple concepts, including Good Times Burgers & Frozen Custard and Bad Daddy's Burger Bar. In fiscal year 2022, their total revenue was approximately $38.3 million. Breakdown of restaurant sales is as follows:

Franchise Royalties

GTIM has also developed a franchise model, allowing independent operators to run outlets under the company's brand. As of the end of fiscal year 2022, franchise operations contributed approximately $1.2 million in royalties. This represents around 3.13% of total revenue.

Operating Costs

The operational costs are a crucial factor in determining GTIM's profitability. In fiscal year 2022, the major operating expenses included:

• Cost of goods sold (COGS) - $10.1 million
• Labor costs - $14.6 million
• Occupancy costs - $3.4 million
• Other operational expenses - $6.0 million

Marketing Expenses

Marketing plays a vital role in driving traffic to the restaurants. In fiscal year 2022, GTIM allocated approximately $2.0 million to marketing efforts. This investment is aimed at both increasing brand awareness and promoting new menu items.

Profit Margins

The profit margins for GTIM are determined by careful management of both sales and operating expenses. As reported in their 2022 fiscal year, the operating income was approximately $2.2 million, which reflected a 5.73% operating margin.

Future Growth Strategies

To enhance revenue generation, GTIM is focusing on several growth strategies:

• Expansion of Bad Daddy's locations
• Increased focus on online and delivery sales
• Menu diversification to attract a broader customer base
• Exploring additional franchise opportunities

Financial Position

As of the latest financial reports, Good Times Restaurants Inc. holds a total asset value of approximately $12.5 million and total liabilities of $6.8 million, showing a healthy financial position conducive to growth.

Stock Performance

As of October 2023, the stock price of GTIM was approximately $2.50, with a market capitalization of around $20 million.