would like to highlight Giggles N' Hugs, Inc.
), a first-of-its-kind, award-winning family restaurant and play space that combines organic gourmet food with the play elements for children in a 2500-square-foot play space in the middle of the restaurant. The concept is similar to Chuck E. Cheese, but offers a unique healthier, high-end version for health conscious parents and families. Parents eat and relax while the kids have an incredible time playing in the custom-made play area with giant climbers, dragons, castles, pirate ships slides and swings and a multitude of other toys.
In the company’s news,
Giggles N’ Hugs, Inc. (OTCQB: GIGL) frequently has its eye on smart, continuous growth. Over the course of the last year, the company streamlined its operations, markedly improved its margins and increased year-over-year sales. This year, Giggles N’ Hugs intends to build on its 2015 achievements by taking advantage of even more opportunities to invest in its growth.
Giggles N’ Hugs occupies a desirable position in the restaurant world. It is the first restaurant operator to bring together high-end, organic food with active, cutting-edge play and entertainment for children. It owns and operates one restaurant in the Westfield Mall in Century City, another in the Westfield Topanga shopping center in Woodland Hills, and a third in the Glendale Galleria in Glendale, California. Due to their proximity to Hollywood, the Giggles N’ Hugs restaurants count among their clientele many of America’s celebrity kids and parents, including Dennis Quaid, Mark Wahlberg, Ben Affleck and Jennifer Garner, Sarah Michelle Gellar and Ellen Pompeo. Owing to their location, these restaurants have a remarkable ability to generate foot traffic.
Likewise, the experience that Giggles N’ Hugs offers in each of its restaurants is a hard-to-resist draw. Every location offers an upscale, adult- and kid-friendly atmosphere with a dedicated, custom-made 2,000 square-foot play area that children aged 10 and younger tend to love. All-day activities (e.g. karaoke and face painting) and nightly entertainment (e.g. magic and puppet shows) are included in the company’s offerings. Plus, families that wish to host special occasions for their kids can hire Giggles N’ Hugs to throw one of its popular themed parties in their homes or at one of the company-owned restaurants.
Giggles N’ Hugs’ three locations are said to be three of the many reasons for the company’s success – and investing in more locations seems to be a great path going forward. A short while ago, the company engaged Chardan Capital, an investment bank, in its growth efforts. Giggles N’ Hugs tasked the bank with seeking out and raising capital, so it could expand to additional locations throughout the U.S.
A second, major growth initiative that the company is considering is the launch of a vast franchising program. Over the years, Giggles N’ Hugs has received numerous inquiries from interested parties looking to replicate its concept and success around the world. It has caught the eye of several of the nation’s largest mall landlords, including Westfield Corp. (OTC: WEFIF), which has offered its entire portfolio of malls for Giggles N’ Hugs to consider for its future locations. Westfield, in particular, is also offering the company a tenant allowance that would noticeably cut opening and rent costs, a very attractive proposition.
In building on recent achievements and promising opportunities, Giggles N’ Hugs seems well-placed to execute its 2016 growth initiatives.
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