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Good Times Burgers & Frozen Custard

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Good Times Restaurants Inc.
Good Times Burgers & Frozen Custard
Company typePublic company
Nasdaq: GTIM
Russell Microcap Index component
IndustryRestaurants
PredecessorRound the Corner Restaurants
FoundedRound the Corner Restaurants :
1968; 56 years ago (1968)
Boulder, Colorado, U.S.
Good Times Drive-Thru Burgers:
1987; 37 years ago (1987)
Boulder, Colorado, U.S.
FounderGood Times Drive-Thru Burgers:
Boyd Hoback
Headquarters651 Corporate Circle, Golden, Colorado, United States
Number of locations
35 (2021)
Area served
Colorado and Wyoming
Key people
Ryan Zink (CEO)
Products
RevenueIncrease US$138.122 million (2023[1])
Decrease US$0.963 million (2023[1])
Increase US$11.086 million (2023[1])
Total assetsIncrease US$91.088 million (2023[1])
Total equityIncrease US$32.746 million (2023[1])
Number of employees
2,245 (2023)
Websitegoodtimesburgers.com
Good Times/Taco John's restaurant in Commerce City, Colorado

Good Times Burgers & Frozen Custard is a Golden, Colorado–based fast-food restaurant specializing in premium burgers and frozen custard. As of July 2023, the chain operates 31 locations (29 in Colorado and 2 in Wyoming),[2] down from 38 in 2015.[3][4]

History

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In 1968, Round the Corner Restaurants was started in Boulder, Colorado,[5] and established a chain of gourmet, sit down hamburger restaurants.[6] At its peak, Round the Corner had 30 restaurants in 4 states.[5]

In 1986, Round the Corner formed a company to develop the Good Times drive-through concept.[6] By 1987[7] as Good Times Drive-Thru Burgers, the company opened its first location in Boulder.

Between 1990 and 1993, Round the Corner became a subsidiary of Good Times Restaurants, Inc., and was spun off into a separate company in 1995. Round the Corner filed for bankruptcy in 1996 with Good Times as the only secured creditor.[6] By 2000, the last remaining Round the Corner restaurant, located in Aurora, Colorado, had been sold to an independent operator.[5]

In 2004, Good Times entered into an agreement with Taco John's to experiment with opening co-branded restaurants. This would include performing a complete remodel on the Taco John's building located on South Greeley Highway in Taco John's home city, Cheyenne, Wyoming.[8][9] In 2007, Good Times introduced new Bambino Burgers,[10] slider hamburgers similar to those sold by White Castle.

In 2013, Good Times acquired a 48-percent interest in North Carolina–based franchiser Bad Daddy's Burger Bar, described as a "full service, upscale, 'small box' restaurant concept". The agreement included development rights for franchise locations in the states of Colorado, Arizona, and Kansas.[11] In 2015, Good Times announced it would be acquiring the remaining 52 percent of Bad Daddy's for $21 million.[12]

As of 2023, Good Times' home offices are located in Golden, Colorado.[13] The South Greeley Hwy/Cheyenne location has also long since shifted away from being co-branded as Good Times, and the Taco John's building has even been rebuilt. Both the existing Wyoming Good Times locations (Gillette and Sheridan) are both still co-branded as Taco John's.

Frozen custard

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Flavor of the month

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Good Times has many flavors of frozen custards that rotate depending on the month as well as serving vanilla year round.

Pawbenders

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Good Times also serves Pawbenders, which are frozen treats created for dogs. They contain vanilla Frozen Custard, three Milk Bones, and a Peanut Butter Drizzle.[14] A percentage of the money made from every Pawbender sold goes to support the Dumb Friends League, Freedom Service Dogs of America, and/or the Larimer Humane Society.[15]

See also

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References

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  1. ^ a b c d e "GTIM Financials". Nasdaq. January 30, 2021.
  2. ^ "Find Us | Good Times All Natural Burgers & Frozen Custard". Good Times Burgers Locations. 2023-07-25. Archived from the original on 2023-07-26. Retrieved 2023-07-25.
  3. ^ "Colorado Locations : Good Times Burgers & Frozen Custard". Archived from the original on 2015-06-17. Retrieved 2015-06-16.
  4. ^ "Wyoming Locations : Good Times Burgers & Frozen Custard". Archived from the original on 2015-06-17. Retrieved 2015-06-16.
  5. ^ a b c Wagner, Kyle (24 February 2000). "Survival of the fittest". Westword. Retrieved 16 June 2015.
  6. ^ a b c "Notice of Annual Meeting of Shareholders, February 12, 1998". Good Times. Good Times Restaurants, Inc. Archived from the original on 5 September 2015. Retrieved 16 June 2015.
  7. ^ "About Good Times at its official website". Retrieved 2009-11-05.
  8. ^ "Good Times Announces Plan to Expand Co-Brand Test w/Taco John's". May 10, 2005. Retrieved October 13, 2007.
  9. ^ "Good Times, Taco John's Test Co-Branding". Archived from the original on 2007-10-11. Retrieved 2007-10-14.
  10. ^ "Good Times Introduces New Bambino Burgers, October 2007". Retrieved October 13, 2007.
  11. ^ Pankratz, Howard (April 15, 2013). "Good Times to develop Bad Daddy's Burger Bar in Colorado". Denver Post. Retrieved 16 June 2015.
  12. ^ Wallace, Alicia (28 April 2015). "Good Times paying $21 million for Bad Daddy's Burger Bar operations". Denver Post. Retrieved 16 June 2015.
  13. ^ "About Us | Good Times All Natural Burgers & Frozen Custard". About Us. 2023-07-25. Archived from the original on 2023-07-26. Retrieved 2023-07-25.
  14. ^ "Frozen Custard". Good Times Burgers. Retrieved 2020-02-05.
  15. ^ "Giving Back". Good Times Burgers. Retrieved 2020-02-05.
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