Giggles N’ Hugs, Inc. (GIGL) Offers Healthy Foods and Healthy Margins
Giggles N’ Hugs, Inc. (OTCQB: GIGL) has created quite a buzz on the LA celebrity circuit. Sandra Bullock has been seen at one of their restaurants, and so have Heidi Klum, Jessica Alba, Halle Berry, Jennifer Garner, Ben Affleck, Dennis Quaid, Mark Whalberg, Adam Sandler, and the graduate, Dustin Hoffman. They’re there for the good food and great atmosphere for their kids. They’re there for the ambiance, too. All that, and more, can be found at any one of Giggles N’ Hugs’ three locations, but healthy foods and an exuberant atmosphere are not all the company has to offer. Giggles N’ Hugs is serving up margins fat enough to tickle any appetite.
In the company’s latest Quarterly Report 10-Q filing, figures for the nine months to September 27, 2015, reveal some tantalizing details. Net sales for that 9-month period were $2,650,290, but the company’s cost of sales for food and beverage amounted to just $631,603, or about 24 percent of revenues. Those results indicate a very healthy gross profit margin of 76 percent. For fine-dining restaurants, the average is 60 percent, according to CEO and president of National Food Service Advisors, Kevin Moll, as reported on Chron, the website of The Houston Chronicle. It seems the Giggles N’ Hugs team has found the right recipe for success.
Joey Parsi founded Giggles N’ Hugs in 2007. His vision was for an establishment that would cater to the needs of parents as well as their kids. It would be a Chuck E. Cheese for the next generation. Giggles N’ Hugs restaurants offer a variety of healthy foods. Parents can relax and eat while their kids have an adventure in the play areas with giant climbers, dragons, castles, pirate ships, slides, swings and lots of other toys. At Giggles N’ Hugs, there are also nightly shows and concerts which are complemented with activities such as face painting, disco dance parties, karaoke, games, arts and crafts, and much more. Plus, since it knows how to take care of kids, Giggles N’ Hugs will keep yours safe for up to three hours while you shop or go for a meal.
At present, the Giggles N’ Hugs magic can be found at three locations. There’s a Giggles N’ Hugs at Westfield Mall in Century City on Santa Monica Boulevard in Los Angeles. There’s another at Westfield Topanga Shopping Center in Woodland Hills, Canoga Park, and a third in the Glendale Galleria. The company also plans to license the Giggles N’ Hugs brand. Look out for the name on clothes, toys, a frozen food line, and vitamin water for kids.
Harold Geneen, the legendary manager who built ITT into a billion dollar business, liked to compare his management style to cooking, saying, “You have to check the fire, watch the pot, add the right amount of seasoning and dip a finger in to taste the stew.” It’s a job for an expert chef. At Giggles N’ Hugs, there’s no shortage of expert chefs, whether they’re cooking or managing.
Learn more by visiting www.gigglesnhugs.com
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