Good Times Restaurants operates two burger-focused restaurant brands. Bad Daddy's Burger Bar is a full-service casual dining concept built around premium, customizable burgers using 1855 Black Angus beef, scratch-made toppings, and a full bar. With an average check of ~$38, Bad Daddy's targets upper-income suburban and urban customers, primarily in end-cap shopping center locations across seven states, with the heaviest concentration in the Southeast U.S. Good Times Burgers & Frozen Custard is a drive-thru QSR concept focused on all-natural, antibiotic-free beef and chicken burgers and fresh frozen custard, competing on product quality versus traditional fast food. Good Times operates almost entirely in Colorado. Both brands are predominantly company-owned, with a minimal franchised footprint. Restaurant-level economics are driven by food costs (running ~30-32% of sales, with ground beef the key commodity), labor (~34-37% of sales), and largely fixed occupancy costs, making profitability sensitive to same-store sales trends. Bad Daddy's alcohol sales (~12% of system-wide sales) provide a margin benefit that management actively promotes. The company's growth strategy centers on selective Bad Daddy's unit expansion in the Southeast, funded from operating cash flow with a ~20%+ return hurdle on new units. Good Times is not in active expansion mode. Beyond organic investment, Good Times Restaurants has been returning capital via share repurchases.