Good Times Restaurants Announces the Purchase of the Good Times Location in Parker, Colorado

Rhea-AI Summary

Good Times Restaurants (NASDAQ: GTIM) announced the acquisition of a Good Times Burgers & Frozen Custard location in Parker, Colorado on May 22, 2024. The company plans to implement extensive renovations including resurfacing the parking lot, installing a digital menu package and point-of-sale system, updating signage, and refreshing landscaping. Additional exterior upgrades will include new awnings, patio umbrellas, lighting, and paint. Company President Ryan Zink noted the expansion of operating hours and emphasized the importance of continuing the legacy built by the previous franchisee, John Felton, who has been a valuable partner.

Positive

• Acquisition of a new location in Parker, Colorado.
• Plans for extensive renovations including a new digital menu package and point-of-sale system.
• Expansion of operating hours starting from the first day of operations.
• Commitment to improving customer experience with new signage and updated landscaping.
• Positive sentiment towards the previous franchisee, indicating strong business relationships.

Negative

• No financial details of the acquisition were disclosed.
• Potential short-term costs associated with extensive renovations.
• Uncertainty regarding the timeline and completion of renovation projects.

GOLDEN, Colo.--(BUSINESS WIRE)-- Good Times Drive Thru Inc., a subsidiary of Good Times Restaurants Inc. (NASDAQ: GTIM), today announced that on May 22, 2024, it completed its acquisition of the Good Times Burgers & Frozen Custard location in Parker, Colorado from a franchisee.

The restaurant’s parking lot has been resurfaced and restriped, and over the next few months the Company intends to install its digital menu package and point-of-sale system, new signage and updated landscaping. Additionally, the exterior upgrades will include the installation of new awnings, patio umbrellas, lighting and fresh paint.

Ryan Zink, the Company’s President said, “On the first day of operations, we expanded operating hours and over the next few months, we expect to complete our refresh of the restaurant. We are excited to continue what our long-time franchisee John Felton built in Parker. John has been a great partner for many years and has formed strong relationships with his guests. We wish him the very best, and know he will enjoy every moment of this next phase of life.”

About Good Times Restaurants Inc.: Good Times Restaurants Inc., through its wholly owned subsidiaries, owns, operates and franchises 31 Good Times Burgers & Frozen Custard restaurants primarily in Colorado. Good Times is a regional quick-service concept featuring 100% all-natural burgers and chicken sandwiches, signature wild fries, green chili breakfast burritos and fresh frozen custard desserts. The Company also owns, operates and licenses 41 Bad Daddy’s Burger Bar restaurants through its wholly owned subsidiaries. Bad Daddy’s Burger Bar is a full-service “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 beers in a high-energy atmosphere that appeals to a broad consumer base.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240529833260/en/

GOOD TIMES RESTAURANTS INC CONTACTS:

Ryan M. Zink, President and Chief Executive Officer (303) 384-1411

Christi Pennington (303) 384-1440

Source: Good Times Restaurants Inc.

FAQ

What did Good Times Restaurants announce on May 22, 2024?

Good Times Restaurants announced the acquisition of a Good Times Burgers & Frozen Custard location in Parker, Colorado.

What are the renovation plans for the newly acquired GTIM location in Parker, Colorado?

The plans include resurfacing the parking lot, installing a digital menu package and point-of-sale system, updating signage, and refreshing landscaping.

What changes will be made to the exterior of the newly acquired GTIM location?

The exterior upgrades will include new awnings, patio umbrellas, lighting, and fresh paint.

Who was the franchisee of the newly acquired GTIM location?

The franchisee was John Felton, who has been a long-time partner of Good Times Restaurants.

What operational changes occurred on the first day after GTIM's acquisition in Parker, Colorado?

The operating hours were expanded on the first day of operations.