Good Times & Bad Daddy’s Announce New Restaurants & Its First Franchisee

  Good Times & Bad Daddy’s Announce New Restaurants & Its First Franchisee

Business Wire

GOLDEN, Colo. -- May 29, 2013

Good Times Restaurants Inc. (Nasdaq: GTIM) today announced that Bad Daddy’s
Franchise Development LLC (“BDFD”) has agreements for three new Bad Daddy’s
Burger Bar restaurants that will be developed in North Carolina and South
Carolina. Good Times owns 48% of BDFD and said that two of the restaurants
will be developed by Bad Daddy’s International, LLC, the majority owner of
BDFD, in Raleigh and Winston-Salem, North Carolina and the third will be
developed by CPR Burgers, LLC in Greenville, South Carolina as BDFD’s first
franchisee.

Commenting on the new restaurants, Boyd Hoback, CEO of Good Times and BDFD
said, “We are excited to have our first Bad Daddy’s Burger Bar franchisee in
the fold as we continue to refine and build what we believe are best-in-class
operating systems and a platform for accelerated franchise growth later this
year. Frank Scibelli and Dennis Thompson are continuing to build restaurants
in North Carolina and we will do the same in Colorado, which will give us a
good platform to support franchise growth in key markets across the country.
Our goal is to maintain a compelling concept that can continue to deliver
industry-leading unit economics for experienced, multi-unit franchisees as we
grow. We anticipate announcing the signing of our first Colorado sites soon.”

Bad Daddy’s Burger Bar is a full-service, upscale, “small box” restaurant
concept operating mostly in inline locations featuring a chef-driven menu of
gourmet signature burgers, chopped salads, appetizers and sandwiches with a
full bar and a focus on a selection of craft microbrew beers in a high energy
atmosphere that appeals to a broad consumer base. Bad Daddy’s has received
both local and national accolades for the quality and originality of its food
and was most recently named a top 25 burger in the U.S. by USA Today. There
are four restaurants currently open and a fifth in the Charlotte airport
operated by HMS Host.

Bad Daddy’s International, LLC is owned and operated by Dennis Thompson and
Frank Scibelli. Mr. Thompson is the developer of multiple restaurant concepts
having developed and taken public or sold Lone Star Steakhouse, Bailey’s
Sports Grille and Firebird’s Wood Fired Grill. The Bad Daddy’s Burger Bar
Concept was created by Mr. Scibelli, who has also produced multiple
award-winning restaurant concepts including Mama Ricotta’s, Midwood Smokehouse
and Paco’s Tacos & Tequila.

Good Times is a regional chain of quick service restaurants located primarily
in Colorado providing a menu of high quality all natural hamburgers, 100% all
natural tenderloin sandwiches, fresh frozen custard, fresh cut fries, fresh
lemonades and other unique offerings. Good Times currently operates and
franchises 39 restaurants.

This press release contains forward-looking statements within the meaning of
federal securities laws. The words “intend,” “may,” “believe,” “will,”
“should,” “anticipate,” “expect,” “seek” and similar expressions are intended
to identify forward-looking statements. These statements involve known and
unknown risks, which may cause Good Times’ actual results to differ materially
from results expressed or implied by the forward-looking statements. These
risks include such factors as the uncertain nature of current restaurant
development plans and the ability to implement those plans, delays in
developing and opening new restaurants because of weather, local permitting or
other reasons, increased competition, cost increases or shortages in raw food
products, and other matters discussed under the “Risk Factors” section of Good
Times’ Annual Report on Form 10-K for the fiscal year ended September 30, 2012
filed with the SEC. Although Good Times may from time to time voluntarily
update its forward-looking statements, it disclaims any commitment to do so
except as required by securities laws.

Contact:

Good Times Restaurants Inc.
INVESTOR RELATIONS CONTACTS:
Boyd E. Hoback, 303-384-1411
President and CEO
or
Christi Pennington, 303-384-1440
Executive Assistant