BJ's restaurant is moving across the country from the west coast, they are starting to appear more and more as one of GCFB's main competitors as GCFB expands out of the midwest.
BJ's and GCFB have very similar menus, and many of the long time posters on here more or less feel GCFB adding pizzas to the menu was in response to BJ's menu.
HOPS is more of a steak house, btw, and the nearest to a GCFB that I know of is in Denver, 8 hours from the Omaha GCFB.
Yep, I'm from Cincy. I can't say that I have heard of Tephseal. I plan on making a road trip to Fort Wayne.
I think your right on about Cincy's market. People here know of micro brew from Hofbrahaus but, I think this restaurant first concept will knock'em dead.
BJRI's strategy I just don't understand.
I think the location in Columbus was just an attempt to put a footprint in central Ohio. A waste of focus and unit imo.
They have skipped NM and are now focusing on Florida. Which could be good but, I'm not sold on this concept in Florida. Plus, There are 3 dead states between Florida and Texas.
There was a HOPS in Maple Grove, Mn less than a mile from GCFB but I think it closed down and now there is no building there at all. I could be mistaken this for another restaurant though.
Here in Cincinnati we only have one real micro brewery that I know of. It's called the Hofbrahaus.
It's not known as a restaurant. More of a gathering place for college students and younger people.
It's located in Newport, KY, Which is on the river across from downtown Cincy.
If I were to pin point at least one location for GCFB. It would be West Chester and/or Mason Ohio. It is about 30mins. North of Downtown and a stones throw away from Dayton, OH.
Over the last decade Cincinati has grown dramatically outside of city limits.
My second location would be somewhere in Northern Kentucky. Most likely the Fort Mitchell and/or Florence area.
I will try and give a detailed description when a location is announced.
Carson Palmer lives in Mason
How can you not believe this? Have you ever been in one of there establishements?
If you take out the start-up cost associated with new store opening the company would be posting nice results. There will be 2 keys to the coming 18 months.
1. Completing the scheduled new stores open.
2. Show positive EPS by 2008.
I've followed the stock for several years now. They have a great concept and high quality food for casual dining. If you've ever visited a store you would see what I'm talking about. I've visited several locations in the Twin Cities and Des Moines. On weekends (F,S,S)after 4:30 PM there is usually a 45-60 wait to be seated...people actually wait too. During lunch hour they have a steady stream of customers. The food is high quality. Service is much better than a typical sit down establishment. They have steadily increased prices over the last two years with no effect on traffic. They have better customer loyality with the Mug Club card. I guess I'm a sucker but the card does drive loyality to the brand becasue I have one. People will pay $20 and not even get a beer in return. The trend of American's is to eat out more than cooking at home. The list goes on...
They have one looming problem which in the next 18 months will be rectified is...thier balance sheet. With a start-up you need to expect this to prove to investors the concept has legs. Go do the math...how much of thier earning today goes to debt service. What would earning be if they quit opening new stores and paid down thier existing debt.
Buy 10,000 shares and forget about them for 3 years. When you come back they will be worth double...minimum.
I would not be suprised to see them bought out by a portfolio resturant company in the next 12-18 months. Mark this post...if the stock doesn't go over $10 by 7/31/2010 reply to the post and I'll buy you a gift certificate and send it to you to get a growler. I'm long
Which part? Being successful in a smaller market, imo, should indicate it will work in a large scale market. Economy of scale or some such- a small customer base (small market) has worked well for GCFB.
Throw a winning formula into a large market and it should work as well there too, if not better. Small markets are generally harder to succeed in-
Remember to discern between a small market and a market devoid of competition. Many of the small market areas already have microbrew/restaurants (google microbrewery for Kansas City, Omaha, Fargo and St. Paul for instance).
GCFB has stood up well against restaurants with a competing format. Let them hit the break-even point with 25 restaurants and the positive #s will be self evident to their success.