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Giggles N' Hugs, Inc. (GIGL)

Los Angeles-based Giggles N' Hugs, Inc. (GIGL) is 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 addition to nightly shows and concerts, every 30 minutes Giggles N' Hugs provides an activity such as face painting, disco dance parties, karaoke, games, arts and crafts, and much more. Giggles N' Hugs has been voted the No. 1 family restaurant, No. 1 birthday party place, and the No. 1 indoor play space in all of Los Angeles, and has attracted a star-studded list of customers including Sandra Bullock, Heidi Klum, Jessica Alba, Halle Berry, Jennifer Garner and Ben Affleck, Denis Quaid, Mark Whalberg, Adam Sandler, Dustin Hoffman and many more.

Revenue is derived from several sources, including food and beverage sales, beer and wine, birthday parties (40%), admission and membership fees to play, along with retail sales. These revenue-generating locations are also highly sought-after tenants. The company currently has three locations in the top premier malls around Los Angeles; four of the largest mall owners in the country are giving Giggles N' Hugs up to 75% discounts on rent and providing upward of $700,000 of upfront cash for each location to get Giggles N' Hugs into their malls around the country.

Growth and recognition of this caliber are driven by a very powerful management team. Giggles N' Hugs President John Kaufman was the COO at California Pizza Kitchen when the founders had just two locations. Joined by Giggles N' Hugs' CFO Phillip Gay, who at the time was CFO of California Kitchen, Kaufman grew the company from two to more than 100 locations – at which time it was bought by Pepsi Co. Kaufman was recruited as president of Koo Koo Roo Chicken, one of the fastest growing fast-casual concepts on the west coast, while Gay joined Wolfgang Puck Restaurants group as CFO, eventually becoming the CEO.

Giggles N' Hugs was founded as a truly "kid friendly" establishment catered specifically to the size, interests, and nutrition needs of children. Since opening its first Giggles N' Hugs in 2009, the company has received a steady stream of interest from more than 300 interested parties looking to expand the concept – via franchise or master licenses – in the U.S. as well globally in countries such as Germany, England, Dubai, Russia, Colombia, Australia , Singapore, Turkey, among the many more.

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721 N. Vulcan Ave. Suite 205
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619-664-4780

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Key Investment Highlights
Niche yet Large Targeted Demographic
Strong Support from Mall Establishments
Global Interest for International Expansion

Industry
Industry: Services
Sector: Restaurants
Sub-industry: Family Restaurants

Share Information

Founder, President, & Director - Joey Parsi
Mr. Parsi had a long and successful career as an investment manager and entrepreneur. He had a 20+year career working on Wall Street for Lehman Brothers, Sutro and Company, and Prudential Securities. Mr. Parsi served as an Investment Advisor for Lehman Brothers from 1991 to 1994. From 1994-1996, Mr.Parsi served as Senior Vice President at Sutro and Company, where he managed and oversaw millions of dollars for individual and institutional investors specializing in IPOs and technology equities. He then worked at Prudential Securities between 1996 and 1998 where he oversaw client assets in a number of investments. In 1998, Mr.Parsi opened Barron Chase and was able to expand the company to more than 30 employees. In total, Mr. Parsi and his team raised more than $30 million in funding for nine separate companies, many of which are now publicly traded on the NASDAQ markets. After liquidating the business in 2001 he joined TD Waterhouse, his last position before founding the Company, where he personally managed more than $350 million in assets for clients, and oversaw more than $1 billion in assets in his region.

COO - Sean Richards
Mr. Richards has held various roles in the food and beverage industry. From 2003 to 2008, Mr. Richards served as a Regional Director of Hoodwink, LLC where he was responsible for overseeing the operations of 7 Hooters Restaurants, 1 Casino and 2 bars in Washington and Oregon. From 2008 to 2010 he served as a General Manager of the Pink Taco and the Viper Room of Larry Morton Holdings, LLC, where he was responsible for overseeing the operations of a 400+ seat high-energy Mexican restaurant/bar with annual sales over $9.4 million and a 300 person live music venue on the Sunset Strip. Most recently, Mr. Richards had served as a Sales Associate with Sysco, where he provided sales and consulting services to a multiple of restaurant groups.

Chief Business Development Officer - Philip Gay
Gay brings nearly three decades of industry-related senior executive experience to Giggles N' Hugs. From 2004 to 2010, he served as director, president, and CEO of Grill Concepts, a publicly-traded operator of upscale casual and fine dining restaurants throughout the U.S. Previously he served as chief financial officer for California Pizza Kitchen and Wolfgang Puck Food Company, and he has held various COO and CEO positions at Color Me Mine and Diversified Food Group.

 

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