{"product_id":"gtim-vrio-analysis","title":"Good Times Restaurants Inc. (GTIM): VRIO Analysis [Mar-2026 Updated]","description":"\u003cbr\u003e\u003cp\u003eUnlock the secrets to Good Times Restaurants Inc. (GTIM)'s market success! This VRIO analysis distills the company's core resources and capabilities down to their fundamental competitive potential - are they truly Valuable, Rare, Inimitable, and Organized for sustained advantage? Read on immediately to uncover the definitive answer that shapes Good Times Restaurants Inc. (GTIM)'s future performance.\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eGood Times Restaurants Inc. (GTIM) - VRIO Analysis: Core Capability 1: Dual-Brand Operating Model\n\u003c\/h2\u003e\n\u003cp\u003eYou’re looking at how Good Times Restaurants Inc. (GTIM)'s strategy of running both Bad Daddy's Burger Bar and Good Times Burgers \u0026amp; Frozen Custard actually stacks up against the competition. The dual-brand approach is meant to spread risk, but the fiscal 2025 numbers show it’s a double-edged sword right now.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eValue: Diversifies revenue risk across the quick-service (Good Times) and fast-casual (Bad Daddy's) segments, which showed different sales trends in fiscal 2025.\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eThe idea here is solid: if one concept hits a rough patch, the other might carry the load. In fiscal 2025, we saw this play out in stark relief. For the first quarter ended December 31, 2024, Bad Daddy's same-store sales (SSS) were up 1.5%, while Good Times SSS were flat - unchanged. But by the third quarter ended July 1, 2025, the picture flipped and darkened; Bad Daddy's SSS fell 1.4%, and Good Times SSS plummeted 9.0% for the quarter. To be fair, the year-to-date SSS for Q3 showed Bad Daddy's at -1.2% and Good Times at -4.4%, showing the diversification benefit is currently muted by broad-based sales pressure. This model is valuable only if both brands can consistently deliver positive or stable results.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eRarity: Having two distinct, established regional concepts (40 Bad Daddy's and 30 Good Times locations) is uncommon for a company this size.\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eIt’s rare for a company with a market capitalization around $20.75 million (as of Q2 2025) to successfully manage two materially different concepts - one fast-casual, one quick-service - at this scale. You’re looking at a portfolio of roughly 40 Bad Daddy's and 30 Good Times locations, which is a unique footprint in the regional restaurant landscape. Most peers focus their capital and management attention on scaling one concept, not balancing two distinct operational and marketing strategies simultaneously.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eImitability: The established operational history and customer base for both brands are difficult to replicate quickly.\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eYou can’t just buy a playbook and replicate the customer loyalty built over years. Replicating the Bad Daddy's chef-driven menu and high-energy atmosphere, or the Good Times drive-thru efficiency and established local following, takes significant time and capital investment. What this estimate hides, though, is the difficulty in replicating the current management learning curve across both brands, which seems to be causing the mixed fiscal 2025 results.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eOrganization: Management is actively working to improve efficiency across both brands, though performance is currently mixed.\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eGTIM is organized to support both, but the execution is clearly under strain. In Q3 2025, management hired a new Senior Director of Marketing to address sales declines and launched a new campaign for Good Times. This shows they recognize the need for focused strategy. However, the fact that Q2 2025 saw a net loss of $0.6 million and Q3 saw a net income of $1.5 million suggests the organizational alignment isn't yet fully optimized to translate strategy into consistent profit, despite good cost controls at Bad Daddy's in Q3.\u003c\/p\u003e\n\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage: Temporary (The mixed same-store sales performance in fiscal 2025 suggests the model isn't fully optimized yet).\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eRight now, the advantage is temporary, leaning toward parity. While the structure is rare, the inconsistent sales performance - like the -9.0% Good Times SSS in Q3 2025 - shows that the organization isn't consistently extracting superior value from this structure. If they can stabilize and grow both brands concurrently, it becomes a sustained advantage; until then, it’s just a complex structure that competitors can watch and learn from without immediate threat. Here’s the quick math on the SSS volatility:\u003c\/p\u003e\n\u003ctable border=\"1\"\u003e\n  \u003ctr\u003e\n    \u003ctd\u003eBrand\u003c\/td\u003e\n    \u003ctd\u003eQ1 FY2025 SSS\u003c\/td\u003e\n    \u003ctd\u003eQ2 FY2025 SSS\u003c\/td\u003e\n    \u003ctd\u003eQ3 FY2025 SSS\u003c\/td\u003e\n  \u003c\/tr\u003e\n  \u003ctr\u003e\n    \u003ctd\u003eBad Daddy's Burger Bar\u003c\/td\u003e\n    \u003ctd\u003e\u003cstrong\u003e+1.5%\u003c\/strong\u003e\u003c\/td\u003e\n    \u003ctd\u003e\u003cstrong\u003e-3.7%\u003c\/strong\u003e\u003c\/td\u003e\n    \u003ctd\u003e\u003cstrong\u003e-1.4%\u003c\/strong\u003e\u003c\/td\u003e\n  \u003c\/tr\u003e\n  \u003ctr\u003e\n    \u003ctd\u003eGood Times Burgers\u003c\/td\u003e\n    \u003ctd\u003e\u003cstrong\u003e0.0%\u003c\/strong\u003e\u003c\/td\u003e\n    \u003ctd\u003e\u003cstrong\u003e-3.6%\u003c\/strong\u003e\u003c\/td\u003e\n    \u003ctd\u003e\u003cstrong\u003e-9.0%\u003c\/strong\u003e\u003c\/td\u003e\n  \u003c\/tr\u003e\n\u003c\/table\u003e\n\u003cp\u003eFinance: draft 13-week cash view by Friday.\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eGood Times Restaurants Inc. (GTIM) - VRIO Analysis: Core Capability 2: Bad Daddy's High Unit-Level Profitability Controls\n\u003c\/h2\u003e\n\u003cp\u003eThe following table presents key financial highlights for Good Times Restaurants Inc. for the fiscal third quarter ended July 1, 2025, providing context for the Bad Daddy's unit-level performance.\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eBad Daddy's Brand Context\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRestaurant-Level Operating Profit Margin (Stipulated)\u003c\/td\u003e\n\u003ctd\u003eBad Daddy's Unit Economics Anchor\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e14.4%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSame Store Sales (Company-Owned)\u003c\/td\u003e\n\u003ctd\u003eDecrease Compared to Fiscal 2024 Q3\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e-1.4%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Revenues\u003c\/td\u003e\n\u003ctd\u003eCompany-Wide for the Quarter\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$37.0 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet Income Attributable to Common Shareholders\u003c\/td\u003e\n\u003ctd\u003eCompany-Wide for the Quarter\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$1.5 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAdjusted EBITDA (Non-GAAP)\u003c\/td\u003e\n\u003ctd\u003eCompany-Wide for the Quarter\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$2.2 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003ch3 id=\"value\"\u003eValue\u003c\/h3\u003e\n\u003cp\u003eThe Bad Daddy's brand consistently delivered strong unit economics, like a \u003cstrong\u003e14.4%\u003c\/strong\u003e Restaurant-Level Operating Profit margin in Q3 fiscal 2025, providing a crucial cash flow anchor. Total Revenues for the fiscal third quarter of 2025 were \u003cstrong\u003e$37.0 million\u003c\/strong\u003e, with company-owned Bad Daddy's restaurants showing a same-store sales decrease of \u003cstrong\u003e1.4%\u003c\/strong\u003e compared to the fiscal 2024 third quarter.\u003c\/p\u003e\n\u003ch3 id=\"rarity\"\u003eRarity\u003c\/h3\u003e\n\u003cp\u003eAchieving high margins despite sales dips of \u003cstrong\u003e1.4%\u003c\/strong\u003e for Bad Daddy's same-store sales and a \u003cstrong\u003e9.0%\u003c\/strong\u003e decrease for the Good Times brand, alongside commodity inflation pressures, is rare in the current competitive landscape.\u003c\/p\u003e\n\u003ch3 id=\"imitability\"\u003eImitability\u003c\/h3\u003e\n\u003cp\u003eThis stems from embedded operational efficiencies, labor productivity gains, and menu engineering that competitors can't instantly copy. Margins at Bad Daddy's improved in the fiscal 2025 first quarter due to \u003cstrong\u003eincreased labor productivity\u003c\/strong\u003e and \u003cstrong\u003ebetter food and beverage cost driven by sequentially lower beef costs, and menu engineering efforts\u003c\/strong\u003e.\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eIncreased labor productivity.\u003c\/li\u003e\n\u003cli\u003eBetter food and beverage cost management.\u003c\/li\u003e\n\u003cli\u003eMenu engineering efforts.\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch3 id=\"organization\"\u003eOrganization\u003c\/h3\u003e\n\u003cp\u003eManagement is focused on maintaining these good controls at Bad Daddy's while addressing cost issues at Good Times. The CEO noted that bottom line results were strengthened by \u003cstrong\u003egood controls at the Bad Daddy's brand\u003c\/strong\u003e and \u003cstrong\u003ereductions in general and administrative costs\u003c\/strong\u003e in Q3 fiscal 2025.\u003c\/p\u003e\n\u003ch3 id=\"competitive-advantage\"\u003eCompetitive Advantage\u003c\/h3\u003e\n\u003cp\u003eSustained (If the cost control processes become institutionalized across the organization).\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eGood Times Restaurants Inc. (GTIM) - VRIO Analysis: Core Capability 3: Good Times All-Natural Ingredient Commitment\n\u003c\/h2\u003e\n\n\u003cp\u003e\u003cstrong\u003eCore Capability 3: Good Times All-Natural Ingredient Commitment\u003c\/strong\u003e\u003c\/p\u003e\n\n\u003cp\u003eValue: Supports a premium positioning for the Good Times brand, centered on \u003cstrong\u003e100%\u003c\/strong\u003e all-natural beef and chicken and fresh frozen custard.\u003c\/p\u003e\n\n\u003cp\u003eRarity: While not unique, maintaining this strict input standard in the value-driven QSR space is a notable differentiator.\u003c\/p\u003e\n\n\u003cp\u003eImitability: The sourcing contracts and the operational rigor required to maintain quality standards are moderately hard to copy.\u003c\/p\u003e\n\n\u003cp\u003eOrganization: Management invested in FY2025 with new cooking procedures and holding standards to defend this quality promise.\u003c\/p\u003e\n\n\u003cp\u003eCompetitive Advantage: Temporary (Cost pressures in fiscal 2025 made it challenging to fully realize the value of this premium input).\u003c\/p\u003e\n\n\u003cp\u003eThe commitment to \u003cstrong\u003e100%\u003c\/strong\u003e all-natural ingredients is evidenced by specific operational and financial metrics, particularly within the Good Times Burgers \u0026amp; Frozen Custard segment:\u003c\/p\u003e\n\n\u003cul\u003e\n\u003cli\u003eOperational improvements included new cooking procedures and holding standards for burger patties during Q1 FY2025.\u003c\/li\u003e\n\u003cli\u003eUpgrades to custard production were also implemented.\u003c\/li\u003e\n\u003cli\u003eThe Good Times brand reported same-store sales of \u003cstrong\u003e-9.0%\u003c\/strong\u003e for the fiscal 2025 third quarter ended July 1, 2025.\u003c\/li\u003e\n\u003cli\u003eThe restaurant-level operating profit margin for the Good Times brand compressed to \u003cstrong\u003e11.2%\u003c\/strong\u003e in Q3 FY2025.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric (Good Times Restaurant Sales)\u003c\/th\u003e\n\u003cth\u003eQ3 FY2025 (Ended July 1, 2025)\u003c\/th\u003e\n\u003cth\u003eQ3 FY2024\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRestaurant Sales\u003c\/td\u003e\n\u003ctd\u003e$10,356 (in thousands)\u003c\/td\u003e\n\u003ctd\u003e$10,415 (in thousands)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFood and Packaging Costs (% of Sales)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e31.5%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e30.5%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePayroll and Benefits Costs (% of Sales)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e34.2%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e32.7%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRestaurant-level Operating Profit (% of Sales)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e11.2%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e16.5%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRestaurant-level Operating Profit Amount\u003c\/td\u003e\n\u003ctd\u003e$1,157 (in thousands)\u003c\/td\u003e\n\u003ctd\u003e$1,723 (in thousands)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\n\u003cp\u003eCost pressures in fiscal 2025 directly impacted the profitability associated with this premium input:\u003c\/p\u003e\n\n\u003cul\u003e\n\u003cli\u003eFood and packaging costs for Good Times were \u003cstrong\u003e31.5%\u003c\/strong\u003e of restaurant sales in Q3 FY2025, up from \u003cstrong\u003e30.5%\u003c\/strong\u003e in Q3 FY2024.\u003c\/li\u003e\n\u003cli\u003eLabor costs for Good Times increased to \u003cstrong\u003e34.2%\u003c\/strong\u003e of restaurant sales in Q3 FY2025, compared to \u003cstrong\u003e32.7%\u003c\/strong\u003e in Q3 FY2024.\u003c\/li\u003e\n\u003cli\u003eThe restaurant-level operating profit for Good Times decreased by $600,000 for the quarter to $1,200,000 in Q3 FY2025.\u003c\/li\u003e\n\u003cli\u003eManagement flagged record-high ground beef prices into Q4.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eGood Times Restaurants Inc. (GTIM) - VRIO Analysis: Core Capability 4: Bad Daddy's Menu Innovation Pipeline\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eCore Capability 4: Bad Daddy's Menu Innovation Pipeline\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e Successful, high-margin product introductions like the smash patty burgers and the seasonal Birria Burger drive traffic and improve margins. Margins at Bad Daddy's improved in the first quarter of fiscal 2025 due to menu engineering efforts.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e The specific execution and popularity of these items provide a current, unique draw for the Bad Daddy's concept. The Birria Burger was reintroduced in the second fiscal quarter of 2025, timed for Cinco de Mayo and National Burger Month.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e Competitors can copy the idea of a smash patty, but Bad Daddy's has the refinement and first-mover advantage here. The company noted sequentially lower beef costs and menu engineering efforts contributed to margin improvement.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e The company is expanding the smash patty lineup based on positive results from the first quarter of fiscal 2025. The CEO noted strong momentum at Bad Daddy's and that the product development lineup includes new items beyond the second quarter.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Temporary (Product trends are fleeting, but the ability to innovate is a recurring strength).\u003c\/p\u003e\n\u003cp\u003ePerformance metrics related to Bad Daddy's menu and pricing strategy:\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eQ1 Fiscal 2025 (Ended 12\/31\/2024)\u003c\/th\u003e\n\u003cth\u003eQ2 Fiscal 2025 (Ended 4\/1\/2025)\u003c\/th\u003e\n\u003cth\u003eYear-over-Year Comparison\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSame Store Sales Growth\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e1.5%\u003c\/strong\u003e Increase\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e3.7%\u003c\/strong\u003e Decrease\u003c\/td\u003e\n\u003ctd\u003eQ1 positive, Q2 negative\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRestaurant Level Operating Profit Margin\u003c\/td\u003e\n\u003ctd\u003eImproved\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e13.6%\u003c\/strong\u003e (Matched prior year)\u003c\/td\u003e\n\u003ctd\u003eMargin control noted despite sales pressure\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Restaurant Sales\u003c\/td\u003e\n\u003ctd\u003eNot explicitly stated\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e$24.8 million\u003c\/strong\u003e (Decreased by \u003cstrong\u003e$1.6 million\u003c\/strong\u003e)\u003c\/td\u003e\n\u003ctd\u003eSales decreased in Q2\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAverage Menu Price Increase\u003c\/td\u003e\n\u003ctd\u003eN\/A\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e4.7%\u003c\/strong\u003e Higher than Q2 Fiscal 2024\u003c\/td\u003e\n\u003ctd\u003ePricing offset some cost pressures\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003eSpecific innovation performance data:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eThe company owned, operated, and licensed \u003cstrong\u003e40\u003c\/strong\u003e Bad Daddy's Burger Bar restaurants as of January 2025.\u003c\/li\u003e\n\u003cli\u003eThe new Smash and Stack menu item 'immediately rocketed to the \u003cstrong\u003efourth position\u003c\/strong\u003e in' sales during the second fiscal quarter of 2025.\u003c\/li\u003e\n\u003cli\u003eBad Daddy's Year-to-Date Same Store Sales as of Q2 Fiscal 2025 were \u003cstrong\u003e-1.1%\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eTotal Revenues for Q1 Fiscal 2025 were \u003cstrong\u003e$36.3 million\u003c\/strong\u003e, a \u003cstrong\u003e9.6%\u003c\/strong\u003e increase compared to Q1 Fiscal 2024.\u003c\/li\u003e\n\u003cli\u003eNet Income Attributable to Common Shareholders for Q1 Fiscal 2025 was \u003cstrong\u003e$0.2 million\u003c\/strong\u003e, compared to a net loss in the prior year quarter.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eGood Times Restaurants Inc. (GTIM) - VRIO Analysis: Core Capability 5: Deep Colorado Regional Brand Equity (Good Times)\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eCore Capability 5: Deep Colorado Regional Brand Equity (Good Times)\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003ch\u003eValue\u003c\/h\u003e\u003c\/p\u003e\n\u003cp\u003eStrong local recognition and loyalty, which the company is actively leveraging with the new 'Colorado Native Burgers' campaign. Same store sales for the Good Times brand increased \u003cstrong\u003e0.9%\u003c\/strong\u003e for the second fiscal quarter ended March 26, 2024, demonstrating brand strength despite unfavorable weather. \u003cstrong\u003e5.8%\u003c\/strong\u003e same store sales increase was reported for the Good Times brand for the third fiscal quarter ended June 25, 2024.\u003c\/p\u003e\n\u003cp\u003e\u003ch\u003eRarity\u003c\/h\u003e\u003c\/p\u003e\n\u003cp\u003eDeep, established local roots in a primary operating market like Colorado are hard for national chains to match. The Good Times brand has operated in Colorado since its first location opened in Boulder, Colorado, in \u003cstrong\u003e1987\u003c\/strong\u003e. As of July 2023, the chain operated \u003cstrong\u003e31\u003c\/strong\u003e locations, with \u003cstrong\u003e29\u003c\/strong\u003e in Colorado. As of the Fiscal 2025 third quarter, the company owned, operated, and franchised \u003cstrong\u003e30\u003c\/strong\u003e Good Times Burgers \u0026amp; Frozen Custard restaurants primarily in Colorado.\u003c\/p\u003e\n\u003cp\u003e\u003ch\u003eImitability\u003c\/h\u003e\u003c\/p\u003e\n\u003cp\u003eThis takes years of local presence and community integration to build; it cannot be bought overnight. The predecessor company, Round the Corner Restaurants, was founded in Boulder, Colorado, in \u003cstrong\u003e1968\u003c\/strong\u003e.\u003c\/p\u003e\n\u003cp\u003e\u003ch\u003eOrganization\u003c\/h\u003e\u003c\/p\u003e\n\u003cp\u003eThe new marketing strategy is specifically designed to capitalize on this heritage. The company announced the launch of a new brand campaign at Good Times entitled \u003cstrong\u003e'Colorado Native Burgers'\u003c\/strong\u003e, which will focus heavily on the company's Colorado roots.\u003c\/p\u003e\n\u003cp\u003e\u003ch\u003eCompetitive Advantage\u003c\/h\u003e\u003c\/p\u003e\n\u003cp\u003eSustained (Local heritage is a powerful, long-term intangible asset). Total Revenues for Good Times Restaurants Inc. in 2024 were \u003cstrong\u003e$142.32 million\u003c\/strong\u003e, an increase of \u003cstrong\u003e3.01%\u003c\/strong\u003e compared to the previous year's $138.16 million.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003cth\u003ePeriod\/Context\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eGood Times Locations (Colorado)\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e29\u003c\/strong\u003e out of \u003cstrong\u003e31\u003c\/strong\u003e total\u003c\/td\u003e\n\u003ctd\u003eAs of July 2023\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGood Times Locations (Colorado)\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e28\u003c\/strong\u003e out of \u003cstrong\u003e30\u003c\/strong\u003e owned, operated, or franchised\u003c\/td\u003e\n\u003ctd\u003eAs of October 2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGood Times Brand Same Store Sales Growth\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e5.8%\u003c\/strong\u003e increase\u003c\/td\u003e\n\u003ctd\u003eFiscal Third Quarter ended June 25, 2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGood Times Brand Same Store Sales Change\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e-9.0%\u003c\/strong\u003e decrease\u003c\/td\u003e\n\u003ctd\u003eFiscal 2025 Third Quarter compared to prior year\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGood Times Brand Same Store Sales Year-to-Date\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e-4.4%\u003c\/strong\u003e decrease\u003c\/td\u003e\n\u003ctd\u003eAs of Fiscal 2025 Third Quarter\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Revenues\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$142.32 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Revenues\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$37.0 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eFiscal 2025 Third Quarter\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003e\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eThe company's Good Times brand features 100% all-natural burgers and chicken sandwiches, signature wild fries, green chili breakfast burritos and fresh frozen custard desserts.\u003c\/li\u003e\n\u003cli\u003eThe Good Times brand delivered positive same store sales of \u003cstrong\u003e0.9%\u003c\/strong\u003e for its second fiscal quarter ended March 26, 2024.\u003c\/li\u003e\n\u003cli\u003eAverage weekly sales for the Good Times brand were \u003cstrong\u003e$27,133\u003c\/strong\u003e for the second fiscal quarter ended March 26, 2024.\u003c\/li\u003e\n\u003cli\u003eAverage weekly sales for the Good Times brand were \u003cstrong\u003e$31,780\u003c\/strong\u003e for the third fiscal quarter ended June 25, 2024.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eGood Times Restaurants Inc. (GTIM) - VRIO Analysis: Core Capability 6: Disciplined Balance Sheet Management\n\u003c\/h2\u003e\n\u003ch\u003e\u003ch\u003eCore Capability 6: Disciplined Balance Sheet Management\n\u003c\/h\u003e\u003c\/h\u003e\n\u003cp\u003e\u003cstrong\u003eValue\u003c\/strong\u003e: Ensures operational continuity and flexibility by prioritizing liquidity over shareholder returns during tough quarters (like the Q2 fiscal 2025 net loss). The company reported a \u003cstrong\u003enet loss\u003c\/strong\u003e attributable to common shareholders of \u003cstrong\u003e\\$0.6 million\u003c\/strong\u003e for the second fiscal quarter of 2025, a reversal from the \u003cstrong\u003e\\$0.6 million net income\u003c\/strong\u003e in the prior year's second quarter.\u003c\/p\u003e\n\u003cp\u003eKey Financial Highlights for Fiscal 2025 Second Quarter:\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eAmount\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Revenues\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e\\$34.28 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet Loss\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e\\$0.6 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEarnings Per Share\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e-\\$0.06\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAdjusted EBITDA\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e\\$1.0 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCash Balance (End of Quarter)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e\\$2.7 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLong-Term Debt\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e\\$2.6 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eShares Repurchased (During Quarter)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e54,835 shares\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003e\u003cstrong\u003eRarity\u003c\/strong\u003e: The explicit decision to pause share repurchases to build cash and repay debt shows a specific, rare financial discipline. The company \u003cstrong\u003erepurchased 54,835 shares\u003c\/strong\u003e during the quarter but then announced the temporary pause of the program.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eImitability\u003c\/strong\u003e: Many peers might be pressured to continue buybacks; this focus on balance sheet strength is a choice. The company is navigating a challenging environment where same-store sales for Bad Daddy's restaurants decreased \u003cstrong\u003e3.7%\u003c\/strong\u003e and Good Times restaurants decreased \u003cstrong\u003e3.6%\u003c\/strong\u003e for the quarter.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization\u003c\/strong\u003e: Capital deployment strategy was clearly redirected in fiscal 2025 toward cash accumulation and debt reduction. CEO Ryan M. Zink stated that cash flow is being redirected toward \u003cstrong\u003ecash accumulation and repayment of debt\u003c\/strong\u003e to maintain balance sheet strength. For context, at the end of fiscal 2021, the company ended with \u003cstrong\u003e\\$8.9 million in cash and no long-term debt\u003c\/strong\u003e. As of Q3 2025, total assets were \u003cstrong\u003e\\$85.75M\u003c\/strong\u003e and total liabilities were \u003cstrong\u003e\\$51.94M\u003c\/strong\u003e.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage\u003c\/strong\u003e: Temporary (This advantage only exists while the company is actively deleveraging or building liquidity).\u003c\/p\u003e\n\n\u003cbr\u003e\u003ch2\u003eGood Times Restaurants Inc. (GTIM) - VRIO Analysis: Core Capability 7: Chef-Driven Menu Development Structure (Bad Daddy's)\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e Supports the full-service concept's ability to command premium pricing through gourmet burgers and specialty items.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e A genuine chef-driven menu structure in the fast-casual space is less common than standardized offerings.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e Requires retaining specific culinary talent and maintaining a more complex kitchen\/prep process.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e This capability underpins the high-energy atmosphere and premium positioning of the Bad Daddy's brand.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Sustained (If the talent and structure supporting this culinary approach are retained).\u003c\/p\u003e\n\u003cp\u003eThe Bad Daddy's Burger Bar concept was started in \u003cstrong\u003e2007\u003c\/strong\u003e in Charlotte, North Carolina by a qualified chef. The brand's estimated Annual Revenue is in the \u003cstrong\u003e$50M - $75M\u003c\/strong\u003e range.\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eMetric\u003c\/td\u003e\n\u003ctd\u003eFiscal Period\/Date\u003c\/td\u003e\n\u003ctd\u003eAmount\/Percentage\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSales of Restaurants Open $\\geq$ 18 Months (Average)\u003c\/td\u003e\n\u003ctd\u003eFiscal 2021\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$2.4 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSame Store Sales Growth (Company-Owned)\u003c\/td\u003e\n\u003ctd\u003eFiscal 2021\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e18.2%\u003c\/strong\u003e increase\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFood and Packaging Costs (% of Restaurant Sales)\u003c\/td\u003e\n\u003ctd\u003eFiscal 2021\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e29.5%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAverage Menu Price Increase (YoY)\u003c\/td\u003e\n\u003ctd\u003eQ2 Fiscal 2025 vs Q2 Fiscal 2024\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e4.7%\u003c\/strong\u003e higher\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRestaurant-Level Operating Profit Margin\u003c\/td\u003e\n\u003ctd\u003eQ2 Fiscal 2025\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e13.6%\u003c\/strong\u003e of sales\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Restaurant Sales\u003c\/td\u003e\n\u003ctd\u003eQ2 Fiscal 2025\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$24.8 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSame Store Sales Change (Company-Owned)\u003c\/td\u003e\n\u003ctd\u003eQ3 Fiscal 2025\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e-1.4%\u003c\/strong\u003e decrease\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal Revenues (All Brands)\u003c\/td\u003e\n\u003ctd\u003eQ3 Fiscal 2025\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$37.0 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSame Store Sales Growth (Company-Owned)\u003c\/td\u003e\n\u003ctd\u003eQ3 Fiscal 2022\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e5.3%\u003c\/strong\u003e increase\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAverage Weekly Sales (Company-Owned)\u003c\/td\u003e\n\u003ctd\u003eQ2 Fiscal 2023 ended March 28, 2023\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$52,432\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMenu Price Increase (YoY)\u003c\/td\u003e\n\u003ctd\u003eQ2 Fiscal 2023 ended March 28, 2023\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e3.4%\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003eOperational metrics related to the premium positioning:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eBad Daddy's food and packaging costs were \u003cstrong\u003e29.5%\u003c\/strong\u003e of restaurant sales in fiscal 2021.\u003c\/li\u003e\n\u003cli\u003eBad Daddy's currently operates all company-owned restaurants under a table service \/ full-bar service model.\u003c\/li\u003e\n\u003cli\u003eMargins at Bad Daddy's improved in Q1 Fiscal 2025 due to menu engineering efforts.\u003c\/li\u003e\n\u003cli\u003eThe company stated it had been among the highest-priced high-end burger concepts before the pandemic, but price increases were kept to a minimum, moving them just above the median among that group.\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cbr\u003e\u003ch2\u003eGood Times Restaurants Inc. (GTIM) - VRIO Analysis: Core Capability 8: Agility in Digital Marketing Spend Reallocation\n\u003c\/h2\u003e\n\u003cp\u003e\n\u003ch\u003eValue\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nThe ability to pivot media spending from less effective radio to higher-performing streaming video and connected TV channels. The Q3 FY2025 'Colorado Native Burgers' campaign included streaming video as a component.\n\u003c\/p\u003e\n\u003cp\u003e\n\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003e\nCampaign channels included outdoor, social, and streaming video.\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cp\u003e\n\u003ch\u003eRarity\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nThe speed and data-driven nature of this pivot, informed by Bad Daddy's success, is a current advantage. Bad Daddy's restaurant-level margin was reported at 14.4% in Q3 FY2025.\n\u003c\/p\u003e\n\u003cp\u003e\n\u003ch\u003eImitability\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nThe platforms are accessible, but the internal analytical capability to know where to shift dollars is the real asset.\n\u003c\/p\u003e\n\u003cp\u003e\n\u003ch\u003eOrganization\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nThe new senior marketing leader is tasked with overseeing this entire media mix overhaul. Combined General \u0026amp; Administrative expenses for Q3 FY2025 were $2,200,000, representing 5.9% of total revenues.\n\u003c\/p\u003e\n\u003cp\u003e\n\u003c\/p\u003e\u003cul\u003e\n\u003cli\u003e\nQ3 FY2025 Combined G\u0026amp;A Expenses: $2,200,000\n\u003c\/li\u003e\n\u003cli\u003e\nQ3 FY2025 G\u0026amp;A as a Percentage of Revenues: 5.9%\n\u003c\/li\u003e\n\u003cli\u003e\nQ3 FY2025 Adjusted EBITDA: $2,200,000\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\n\u003cp\u003e\n\u003ch\u003eCompetitive Advantage\u003c\/h\u003e\n\u003c\/p\u003e\n\u003cp\u003e\nTemporary (Competitors will quickly adopt successful digital strategies once they see results).\n\u003c\/p\u003e\n\u003cp\u003e\n\u003c\/p\u003e\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003ctd\u003eMetric\u003c\/td\u003e\n\u003ctd\u003eValue\u003c\/td\u003e\n\u003ctd\u003ePeriod\/Context\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eQ3 FY2025 Revenue\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$37.0M\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eYear over year decline of 2.4%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBad Daddy's Restaurant-Level Margin\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e14.4%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eQ3 FY2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGood Times Restaurant-Level Margin\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e11.2%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eQ3 FY2025\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGood Times Same-Store Sales\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e-9.0%\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003eQ3 FY2025 Year over Year\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\n\n\u003cbr\u003e\u003ch2\u003eGood Times Restaurants Inc. (GTIM) - VRIO Analysis: Core Capability 9: Small-Scale Acquisition and Integration Experience\n\u003c\/h2\u003e\n\u003cp\u003e\u003cstrong\u003eCore Capability 9: Small-Scale Acquisition and Integration Experience\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eValue:\u003c\/strong\u003e Allows for strategic consolidation and control over key markets, as seen with the acquisition of two Good Times restaurants in the Denver area in Q1 fiscal \u003cstrong\u003e2025\u003c\/strong\u003e. The two acquired locations were in Broomfield and Northglenn, Colorado.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eRarity:\u003c\/strong\u003e Having established legal and operational processes for small-scale M\u0026amp;A is not a given for all small public restaurant groups.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eImitability:\u003c\/strong\u003e The process itself is imitable, but the experience of executing it successfully is not.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eOrganization:\u003c\/strong\u003e The company has demonstrated the ability to integrate acquired units into its existing structure, with the two acquired restaurants reopening after two days for new digital menu boards and POS system installation.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eCompetitive Advantage:\u003c\/strong\u003e Temporary (This is only valuable when a suitable acquisition target becomes available).\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eFinance:\u003c\/strong\u003e Draft 13-week cash view by Friday. Total Cash on hand as of Q1 fiscal 2025 end was $3 million.\u003c\/p\u003e\n\u003cp\u003eQ1 Fiscal 2025 Performance Metrics:\u003c\/p\u003e\n\u003ctable\u003e\n\u003cthead\u003e\n\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eBad Daddy's Burger Bar\u003c\/th\u003e\n\u003cth\u003eGood Times Burgers \u0026amp; Frozen Custard\u003c\/th\u003e\n\u003c\/tr\u003e\n\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRestaurant Sales (14 Weeks)\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$26.1 million\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$9,887K\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSame Store Sales Change YoY\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e1.5%\u003c\/strong\u003e increase\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003eUnchanged\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRestaurant-Level Operating Profit\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$3.278M\u003c\/strong\u003e\u003c\/td\u003e\n\u003ctd\u003e\u003cstrong\u003e$0.852M\u003c\/strong\u003e\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRestaurant-Level Operating Margin\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e12.6%\u003c\/strong\u003e of sales\u003c\/td\u003e\n\u003ctd\u003e\n\u003cstrong\u003e8.6%\u003c\/strong\u003e of sales\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cp\u003eKey Financial and Operational Data from Q1 Fiscal 2025:\u003c\/p\u003e\n\u003cul\u003e\n\u003cli\u003eTotal Revenues for the quarter: \u003cstrong\u003e$36.3 million\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eTotal Revenues increase compared to Q1 FY2024: \u003cstrong\u003e9.6%\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eNet Income Attributable to Common Shareholders: \u003cstrong\u003e$0.164M\u003c\/strong\u003e.\u003c\/li\u003e\n\u003cli\u003eDiluted EPS: \u003cstrong\u003e$0.02\u003c\/strong\u003e (versus a loss of \u003cstrong\u003e$(0.05)\u003c\/strong\u003e in Q1 2024).\u003c\/li\u003e\n\u003cli\u003eAdjusted EBITDA: \u003cstrong\u003e$1.209M\u003c\/strong\u003e (up from \u003cstrong\u003e$0.510M\u003c\/strong\u003e in Q1 2024).\u003c\/li\u003e\n\u003cli\u003eCompany-owned Bad Daddy's restaurants open at period end (14 weeks): \u003cstrong\u003e546.0\u003c\/strong\u003e operating weeks.\u003c\/li\u003e\n\u003cli\u003eCompany-owned Good Times restaurants open at period end (14 weeks): \u003cstrong\u003e365.5\u003c\/strong\u003e operating weeks.\u003c\/li\u003e\n\u003c\/ul\u003e","brand":"dcf.fm","offers":[{"title":"Default Title","offer_id":45516177768597,"sku":"gtim-vrio-analysis","price":7.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0630\/5189\/0837\/files\/gtim-vrio-analysis.png?v=1740178722","url":"https:\/\/dcf-model.com\/products\/gtim-vrio-analysis","provider":"AI-Powered Discounted Cash Flow Model Templates","version":"1.0","type":"link"}