GOLDEN Colo. Good Times Restaurants, Inc., parent of the 55-unit Good Times Burgers & Frozen Custard chain, said it has awarded rights to develop as many as 25 stores in the Midwest, starting in Omaha, Neb., and Des Moines, Iowa.
An investment group led by a member of the company’s board will build the stores, which will be operated by Good Times, said president and chief executive Boyd Hoback.
Hoback declined to identify the investors, but said the deal calls for 10 new units with an option to develop another 15 over the next five years in those cities.
The fast-food burger chain also plans to ratchet up franchise operations next year and begin looking for multi-unit operators. Good Times has only one franchised unit in Boise, Idaho, and a handful of franchised units that are co-branded with Cheyenne, Wyo.-based Taco John’s.