Good Times Restaurants Inc. · NASDAQ:GTIM
Good Times Restaurants — Investor Presentation (September 2015)
22 slides from Good Times Restaurants's investor presentation, Sep 10, 2015
Slide 1: Good Times Restaurants Inc. Investor Presentation September 2015
Good Times Restaurants Inc.(Nasdaq Capital Market: GTIM)Investor PresentationSeptember 2015
Slide 2: Disclaimer: Forward-Looking Information
Disclaimer Forward-Looking InformationThis presentation contains forward-looking statements. All statements other than statements of historical facts contained in this presentation may be forward-looking statements. The words “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “inte
Slide 3: Company Highlights
Company Highlights Recent acquisition of high growth platform companyTwo differentiated and complementary concepts Successful refresh and updating of Good Times yielding improved financial resultsStrong momentum Excellent cash-on-cash return modelsSubstantial growth potentialExperienced senior leade
Slide 4: Two Complementary & Differentiated Concepts
Two Complementary & Differentiated Concepts 4 Good Times Restaurants Inc. Only QSR with steroid-free, hormone-free, vegetarian fed, humanely raised beef, chicken and bacon“Fresh, Handcrafted, All Natural” positionOperates and franchises 38 restaurants located primarily in the front-range communities
Slide 5: Bad Daddy's Model
Bad Daddy’s Model 5 Source: SEC Filings, Company Information Good Times Restaurants Inc. Average Sales per Square Foot 2014 Average Cash on Cash Returns
Slide 6: Taking a Better Food Stand
Good Times Restaurants Inc. 6 Taking a Better Food Stand
Slide 7: Good Times - Concept Overview
Good Times - Concept Overview QSR Burger chain founded in Boulder, CO in 198727 Company-owned stores, 11 Franchise stores$1.1m AUV; $1.2m -$1.4m new store model; Projected fiscal 2015 system-wide sales of $40 million$6.50 Average per person check – upper end of national QSR competitorsFree-standing
Slide 8: A Highly Differentiated Concept in QSR
A Highly Differentiated Concept in QSR Multi-dimensional brand refresh initiated 5 years agoThe only “Fresh, All Natural, Handcrafted” brand story at a QSR price pointMade to order quality with QSR speed of serviceRemodeling and reimaging program to upgrade facilitiesNew store model with upscale, fa
Slide 9: Brand Refresh Producing Sales Momentum: 5 Years of Same Store Sales Growth
Brand Refresh Producing Sales Momentum Good Times Restaurants Inc. 9 Adjusted due to construction disruption at two restaurants. 5 Years of Same Store Sales Growth at Good Times Annual SSSG FY 2014 14.6% FY 2013 11.9% FY 2012 3.1% FY 2011 6.2%
Slide 10: Brand Refresh Producing Sales Momentum: 21 Quarters of Same Store Sales Growth
Brand Refresh Producing Sales Momentum Good Times Restaurants Inc. 10 Adjusted due to construction disruption at two restaurants. 21 Quarters of Same Store Sales Growth at Good Times Three-Year Stacked SSSG 3Q15 32.5% 2Q15 33.0% 1Q15 30.5% 4Q14 31.3%
Slide 11: Increasing Sales Has Increased Profits
Increasing Sales Has Increased Profits Good Times Restaurants Inc. 11 Average Unit Sales Volumes Average Restaurant Level Operating Profit Note: Average unit sales volumes are of all restaurants included in the comparable sales base that have been open at least fifteen months.Restaurant Level Operat
Slide 12: Good Times – Projected New Unit Economics
Good Times – Projected New Unit Economics Assumptions:2,100 sq ft dining room, 50 seat designSale/Leaseback with rent @ 7.5% cap rate on total soft costs, land, site and buildingFF&E Investment = $350,000; Preopening Costs = $60,000 expensed in Year 1 Year 2 Estimate Sales $1,200,000 Restaurant Oper
Slide 13: "You brought Cool to the suburbs"
Good Times Restaurants Inc. 13 “You brought Cool to the suburbs”
Slide 14: 14 Good Times Restaurants Inc.
14 Good Times Restaurants Inc.
Slide 15: Bad Daddy's Burger Bar
Bad Daddy’s Burger Bar Full Service, Full Bar Gourmet Burger Concept founded in Charlotte, NC in 2008Thirteen (13) restaurants currently open in NC (8), SC (1), TN (1) and CO (3) in 6 Separate Metropolitan MarketsTTM sales for the 8 company-owned stores open > 1 year = $2.66M 15 Good Times Restauran
Slide 16: Bad Daddy's Burger Bar – Concept Overview
Bad Daddy’s Burger Bar – Concept Overview Upscale restaurant concept featuring a chef driven menu of gourmet signature burgers, chopped salads, appetizers and sandwiches Simple, high quality ingredients executed at a high levelHousemade sauces and dressings“Create Your Own” burgers and saladsBi-week
Slide 17: Bad Daddy's Strong Momentum
Bad Daddy’s Strong Momentum Sales at the two most recent Colorado openings well ahead of the system average Sales at the first Colorado restaurant +19% in latest comparable quarterSales at all units open more than 18 months +9% in latest comparable quarter8-9 additional restaurants planned in FY 201
Slide 18: Bad Daddy's Projected New Unit Economics
Bad Daddy’s Projected New Unit Economics Assumptions:3,600 sq. ft. 125 seat designNon-Colorado labor model (federal tip credit minimum wage)Estimated Cash Investment = $800k to $1m net of landlord contribution Cash preopening costs = $250k-$265k expensed in Year 1 Year 2 Estimate Sales $2,400,000 -
Slide 19: Strong Growth Platform
Strong Growth Platform Good Times growth in Colorado with company-owned storesContinued same store sales growth through menu innovation, remodels and deepening the all natural positioning at Good TimesBad Daddy’s company-owned growth off of a base of 10 company-operated stores at end of 201540-50+%
Slide 20: Highly Experienced Management Team
Highly Experienced Management Team Boyd Hoback – President, CEO40 years in the restaurant business; with Good Times since inceptionImplemented sophisticated operating and management systems across all functional areasScott Lefever – Chief Operating Officer, Good Times35 years in the restaurant busin
Slide 21: Highly Experienced Management Team
Highly Experienced Management Team Scott Somes – Chief Operating OfficerFormer COO of Lonestar Steakhouses from inception (grown to over 200 restaurants)Former Regional VP of large Pizza Hut franchisee managing over 100 restaurantsMike Maloney – Director of Operations, Bad Daddy’s of Colorado Former
Slide 22: The Investment Opportunity
The Investment Opportunity Financial Highlights 21 quarters of SSS growth in Good Times3 year compound SSS growth of 36% in Good TimesTwo proven economic models with attractive returnsBad Daddy’s top tier sales per sq. ft., economic modelStrong balance sheet with limited debt & $15m cash Long Term G
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