Good Times Announces Opening of Its First Colorado Bad Daddy's Burger Bar Restaurant
Company Expects More in 2014
GOLDEN, Colo. - February 05, 2014 - (BUSINESS WIRE) - Good Times Restaurants Inc. (NASDAQ: GTIM), operator of Good Times Burgers & Frozen Custard, a regional quick service restaurant chain focused on fresh, high quality, all natural products and of Bad Daddy's Burger Bar, a full service, upscale concept today announced that it opened its first Bad Daddy's in Cherry Creek North on Monday, February 3. The Company said it is the first of several Bad Daddy's planned for Colorado.
"We are thrilled to have our first Bad Daddy's up and running in the heart of Cherry Creek North, which is undergoing a massive amount of new retail, office and residential development," said Boyd Hoback, President and CEO. "The trade area is one of the highest income demographic areas in the state and does not have a lot of competition in our price range. Our location is a second generation restaurant space and that always is a different challenge than going into a new space, but we were able to cost effectively convert it to Bad Daddy's. We believe it is ideal for the Bad Daddy's concept and we look forward to being a part of the community for years to come."
The menu of Bad Daddy's Burger Bar, developed by acclaimed restaurateur Frank Scibelli, consists of high quality, handcrafted burgers made from a proprietary blend of chuck and brisket with artisanal cheeses, shrimp, turkey and chicken sandwiches, chopped salads, appetizers, hand cut fries, house made potato chips and hand spun milk shakes. Customers have their choice of 7 different patty options, over 24 fresh toppings, 10 cheeses and other unique flavors. Burger toppings include items such as fresh mozzarella, house-made American cheese, hand breaded applewood smoked bacon, pesto and recipes such as the "Bad Ass Burger," "Mama Ricotta's Burger" and "Emilio's Chicken Sandwich." Chopped Salads include the "Texican Chicken Salad," the "Tree Hugger Salad" as well as create your own options for both burgers and salads.
The Cherry Creek location offers a full bar including award winning Colorado craft microbrews and a great selection of unique cocktails. The 4000 square foot restaurant has 141 seats, including 15 seats at its bar, and is equipped with eight large flat-screen TV's. The decor features a 1970's and 1980's "garage retro" theme with concrete floors, galvanized piping and diamond cut metal and reclaimed barn wood accents. The location has three rollup garage doors opening onto a patio that will be great for summer happy hours and evenings.
The Company also reported that it has one other Bad Daddy's restaurant under development in Northglenn and several other leases in various stages of negotiation for development along the front-range of Colorado. "We've identified 16 trade areas along the front range of Colorado and hope to have 8 to 10 Bad Daddy's open over the next couple of years," said Hoback. "Bad Daddy's has been recognized as having one of the best burgers in the country paired with award winning Colorado craft microbrews and we are excited to bring it to Colorado."
About Good Times Restaurants Inc.
Good Times Restaurants Inc. (GTIM) operates Good Times Burgers & Frozen Custard, a regional chain of quick service restaurants located primarily in Colorado, in its wholly owned subsidiary, Good Times Drive Thru Inc. Good Times provides a menu of high quality all natural hamburgers, 100% all natural chicken tenderloins, fresh frozen custard, fresh cut fries, fresh lemonades and other unique offerings. Good Times currently operates and franchises 37 restaurants.
GTIM will also own and operate Bad Daddy's Burger Bar restaurants through its wholly owned subsidiary, BD of Colorado LLC and will franchise Bad Daddy's Burger Bar restaurants through its 48% ownership of Bad Daddy's Franchise Development LLC. Bad Daddy's Burger Bar is a full service, upscale, "small box" restaurant concept featuring a chef driven menu of gourmet signature burgers, chopped salads, appetizers and sandwiches with a full bar and a focus on a selection of craft microbrew beers in a high energy atmosphere that appeals to a broad consumer base. Bad Daddy's was founded in Charlotte, North Carolina.
Good Times Forward-Looking Statements
This press release contains forward-looking statements within the meaning of federal securities laws. The words "intend," "may," "believe," "will," "should," "anticipate," "expect," "seek" and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, which may cause the Company's actual results to differ materially from results expressed or implied by the forward-looking statements. These risks include such factors as the uncertain nature of current restaurant development plans and the ability to implement those plans, delays in developing and opening new restaurants because of weather, local permitting or other reasons, increased competition, cost increases or shortages in raw food products, and other matters discussed under the "Risk Factors" section of Good Times' Annual Report on Form 10-K for the fiscal year ended September 30, 2013 filed with the SEC. Although Good Times may from time to time voluntarily update its forward-looking statements, it disclaims any commitment to do so except as required by securities laws.
Boyd E. Hoback
Good Times Restaurants Inc.
President and CEO
Good Times Restaurants Inc.
Good Times Restaurants Inc.
Porter, LeVay & Rose