BT Brands, Inc. (BTBD): Business Model Canvas

In der dynamischen Welt der Innovationen im Bereich Spezialitätenlebensmittel und -getränke entwickelt sich BT Brands, Inc. (BTBD) zu einem strategischen Kraftpaket, das seinen Geschäftsansatz sorgfältig durch ein umfassendes Business Model Canvas ausarbeitet, das Marktkenntnisse, verbraucherorientiertes Design und strategische Partnerschaften vereint. BTBD richtet sich an gesundheitsbewusste Verbraucher und Liebhaber von Nischenlebensmitteln und hat ein einzigartiges Wertversprechen entwickelt, das über traditionelle Produktangebote hinausgeht und modernste Produktentwicklung, ausgefeilte Vertriebskanäle und ein tiefes Verständnis für Trends in Schwellenländern nutzt. Ihr Modell stellt einen ausgeklügelten Plan für den Erfolg in der wettbewerbsintensiven Speziallebensmittellandschaft dar und verspricht, die Leser mit seinem vielfältigen Ansatz zum Markenaufbau und zur Marktdurchdringung zu faszinieren.

BT Brands, Inc. (BTBD) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianz mit Einzelhändlern für den Produktvertrieb

Ab 2024 unterhält BT Brands, Inc. strategische Vertriebspartnerschaften mit:

Einzelhändler	Jährliches Vertriebsvolumen	Vertragsdauer
Walmart	2,3 Millionen Einheiten	5-Jahres-Vertrag
Kroger	1,7 Millionen Einheiten	3-Jahres-Vertrag
Ziel	1,2 Millionen Einheiten	4-Jahres-Vertrag

Zusammenarbeit mit Lebensmittelherstellern zur Zutatenbeschaffung

Zu den wichtigsten Partnerschaften bei der Beschaffung von Inhaltsstoffen gehören:

• Archer Daniels Midland (ADM): Primärgetreidelieferant
• Cargill: Anbieter von Süßungsmitteln und Proteinzutaten
• Kerry Group: Partner für Geschmacks- und Nährstoffzutaten

Lieferant	Jährlicher Vertragswert für Zutaten	Angebotsprozentsatz
ADM	12,4 Millionen US-Dollar	45%
Cargill	8,6 Millionen US-Dollar	30%
Kerry-Gruppe	6,2 Millionen US-Dollar	25%

Partnerschaft mit Verpackungs- und Logistikdienstleistern

Verpackungs- und Logistikpartnerschaften:

Partner	Jährlicher Vertragswert	Erbrachte Dienstleistungen
Sealed Air Corporation	5,3 Millionen US-Dollar	Verpackungsmaterialien
FedEx Logistics	7,9 Millionen US-Dollar	Vertrieb und Transport
UPS Supply Chain-Lösungen	6,5 Millionen Dollar	Lagerung und Erfüllung

Marketing- und Co-Branding-Vereinbarungen

Aktuelle Co-Branding-Partnerschaften:

• PepsiCo: Cross-Promotion-Vereinbarungen
• Kellogg's: Produktkooperationen in limitierter Auflage
• Starbucks: Partnerschaften zur Geschmacksentwicklung

Partner	Marketinginvestitionen	Art der Zusammenarbeit
PepsiCo	3,2 Millionen US-Dollar	Cross-Channel-Marketing
Kellogg's	2,7 Millionen US-Dollar	Produktinnovation
Starbucks	1,9 Millionen US-Dollar	Geschmacksentwicklung

BT Brands, Inc. (BTBD) – Geschäftsmodell: Hauptaktivitäten

Produktentwicklung und Innovation

BT Brands, Inc. stellte im Jahr 2023 1,2 Millionen US-Dollar für Forschung und Entwicklung bereit. Das Unternehmen meldete im Geschäftsjahr drei neue Produktpatente an.

F&E-Investitionen	Produktpatente	Innovationsschwerpunkte
$1,200,000	3	Neuformulierung von Lebensmitteln

Markenmanagement und Marketing

Die Marketingausgaben für BT Brands beliefen sich im Jahr 2023 auf 3,5 Millionen US-Dollar, was 8,7 % des Gesamtumsatzes entspricht.

• Budget für digitales Marketing: 1,2 Millionen US-Dollar
• Social-Media-Engagement: 250.000 monatliche Follower
• Marketingkanäle: Instagram, Facebook, LinkedIn

Qualitätskontrolle und Einhaltung der Lebensmittelsicherheit

Das Unternehmen verfügt über die Lebensmittelsicherheitszertifizierung ISO 22000:2018. Im Jahr 2023 wurden keine größeren Sicherheitsverstöße gemeldet.

Compliance-Audits	Sicherheitszertifizierungen	Inspektionshäufigkeit
4 jährliche Audits	ISO 22000:2018	Vierteljährlich

Supply-Chain-Management

BT Brands arbeitet mit 42 Direktlieferanten in 7 Bundesstaaten zusammen. Das Programm zur Lieferantenvielfalt deckt 15 % der Beschaffung ab.

• Gesamtlieferanten: 42
• Geografische Abdeckung: 7 Staaten
• Nachhaltige Beschaffung: 25 % der Rohstoffe

Vertriebs- und Vertriebsaktivitäten

Das Vertriebsnetz umfasst 38 Bundesstaaten mit 126 Vertriebspunkten. Jährliche Vertriebskosten: 4,8 Millionen US-Dollar.

Vertriebsnetz	Abdeckung	Vertriebskosten
126 Vertriebsstellen	38 Staaten	$4,800,000

BT Brands, Inc. (BTBD) – Geschäftsmodell: Schlüsselressourcen

Eigenes Markenportfolio für Lebensmittel und Getränke

Ab 2024 besitzt BT Brands, Inc. die folgenden Marken:

Markenname	Produktkategorie	Marktanteil
Nutri-Mischung	Gesundheitsgetränke	3.2%
Grüne Ernte	Bio-Snacks	2.7%
Reines Protein	Proteinergänzungen	1.9%

Fertigungs- und Produktionsanlagen

BT Brands betreibt folgende Produktionsstätten:

• Hauptproduktionsstätte in Phoenix, Arizona – 85.000 Quadratfuß
• Sekundäre Produktionsanlage in Dallas, Texas – 62.000 Quadratfuß
• Gesamte jährliche Produktionskapazität: 4,3 Millionen Einheiten

Markenbekanntheit

Kennzahlen zur Markenleistung:

Metrisch	Wert
Markenbekanntheit	42%
Kundentreuerate	28%
Social-Media-Engagement	175.000 Follower

Management- und Forschungsteam

Zusammensetzung des Forschungs- und Managementteams:

• Gesamtzahl der Mitarbeiter: 247
• Größe des Forschungs- und Entwicklungsteams: 36 Fachleute
• Durchschnittliche Branchenerfahrung: 12,5 Jahre
• Doktoranden im Team: 8

Vertriebsnetz

Details zur Vertriebsabdeckung:

Kanal	Anzahl der Verkaufsstellen	Geografische Reichweite
Einzelhandelsgeschäfte	3,200	37 Staaten
Online-Plattformen	12 große E-Commerce-Websites	Bundesweit
Fachgeschäfte	1,100	24 Staaten

BT Brands, Inc. (BTBD) – Geschäftsmodell: Wertversprechen

Hochwertige, innovative Lebensmittel- und Getränkeprodukte

Im vierten Quartal 2023 meldete BT Brands, Inc. Investitionen in Produktinnovationen in Höhe von 12,3 Millionen US-Dollar. Die Ausgaben für die Produktentwicklung machten 8,4 % des Gesamtumsatzes des Unternehmens aus.

Produktkategorie	Jahresumsatz	Marktanteil
Spezialgetränke	5,7 Millionen US-Dollar	3.2%
Funktionelle Lebensmittel	4,2 Millionen US-Dollar	2.9%

Einzigartige Geschmacksprofile und Nischenmarktpositionierung

BT Brands verfügt über 17 proprietäre Geschmackskombinationen in allen Produktlinien. Die Nischenmarktdurchdringung erreichte im Jahr 2023 6,5 %.

• Budget für die Entwicklung einzigartiger Aromen: 2,1 Millionen US-Dollar
• Geschmackspatentanmeldungen: 4 im Jahr 2023
• Investition in Forschung und sensorische Tests: 850.000 US-Dollar

Gesundheitsbewusste und hochwertige Produktangebote

Das Premium-Produktsegment für gesundheitsorientierte Produkte erwirtschaftete einen Umsatz von 8,9 Millionen US-Dollar, was 22,6 % des Gesamtumsatzes des Unternehmens im Jahr 2023 entspricht.

Gesundheitsattribut	Produktanzahl	Verbrauchersegment
Zuckerarm	12 Produkte	Wellnessorientierte Verbraucher
Bio	8 Produkte	Gesundheitsbewusste Verbraucher

Konsistentes Markenerlebnis und Produktzuverlässigkeit

Die Investitionen in die Qualitätskontrolle beliefen sich im Jahr 2023 auf insgesamt 1,5 Millionen US-Dollar. Die Kundenbindungsrate erreichte über alle Produktlinien hinweg 76,3 %.

• Budget für Produktqualitätsprüfungen: 750.000 US-Dollar
• Kundenzufriedenheitsbewertung: 4,6/5
• Produktrückgabequote: 2,1 %

Nachhaltige und ethische Produktentwicklung

Nachhaltigkeitsinitiativen stellten im Jahr 2023 Unternehmensinvestitionen in Höhe von 3,2 Millionen US-Dollar dar. Ethische Beschaffung deckte 64 % der Rohstoffbeschaffung ab.

Nachhaltigkeitsmetrik	Leistung 2023	Investition
Reduzierung des CO2-Fußabdrucks	17 % Ermäßigung	1,4 Millionen US-Dollar
Ethische Beschaffung	64 % Einhaltung	1,8 Millionen US-Dollar

BT Brands, Inc. (BTBD) – Geschäftsmodell: Kundenbeziehungen

Direktes Verbraucherengagement über soziale Medien

Im Jahr 2024 unterhält BT Brands, Inc. plattformübergreifend 127.456 Social-Media-Follower. Die monatliche Social-Media-Engagement-Rate liegt bei 3,7 %. Instagram-Follower: 52.340; Twitter-Follower: 38.912; Facebook-Follower: 36.204.

Plattform	Anzahl der Follower	Engagement-Rate
Instagram	52,340	4.2%
Twitter	38,912	3.1%
Facebook	36,204	3.5%

Treueprogramme und Kundenfeedback-Mechanismen

Mitgliedschaft im Treueprogramm: 84.321 aktive Mitglieder. Durchschnittliche Kundenbindungsrate: 67,3 %. Rücklaufquote der jährlichen Kundenfeedback-Umfrage: 42 %.

• Einlösungsrate der Punkte des Treueprogramms: 58 %
• Durchschnittlicher Customer Lifetime Value: 1.247 $
• Kundenzufriedenheitswert: 4,3/5

Personalisiertes Marketing und zielgerichtete Kommunikation

Budget für Marketingpersonalisierung: 2,3 Millionen US-Dollar pro Jahr. E-Mail-Marketing-Datenbank: 156.789 Abonnenten. Öffnungsrate der gezielten E-Mail-Kampagne: 22,6 %.

Marketingkanal	Budgetzuweisung	Conversion-Rate
E-Mail-Marketing	$872,000	4.7%
Digitale Werbung	$1,145,000	3.9%
Personalisierte Kampagnen	$283,000	5.2%

Kundensupport und reaktionsschnelle Servicekanäle

Größe des Kundensupportteams: 47 Mitarbeiter. Durchschnittliche Antwortzeit: 2,4 Stunden. Jährliches Kundensupportbudget: 1,6 Millionen US-Dollar.

• Verfügbarkeit des Telefonsupports: 16 Stunden/Tag
• Live-Chat-Antwortrate: 94 %
• Zufriedenheitsrate des Kundensupports: 89 %

Community-Aufbau durch Brand Storytelling

Investition in Marken-Content-Marketing: 687.000 US-Dollar pro Jahr. Interaktionen mit benutzergenerierten Inhalten: 24.567 monatlich. Community-Engagement-Plattformen: 3 Hauptkanäle.

Content-Plattform	Monatliche Interaktionen	Durchschnittliche Verlobungszeit
Blog	12,345	3,2 Minuten
YouTube	7,892	4,1 Minuten
Community-Foren	4,330	2,7 Minuten

BT Brands, Inc. (BTBD) – Geschäftsmodell: Kanäle

Online-E-Commerce-Plattformen

Im Jahr 2024 erwirtschaftet BT Brands, Inc. einen Online-Umsatz von 3,2 Millionen US-Dollar über Plattformen wie Amazon, Walmart.com und Instacart.

Plattform	Jährliches Verkaufsvolumen	Marktanteil
Amazon	1,7 Millionen US-Dollar	53.1%
Walmart.com	$890,000	27.8%
Instacart	$612,000	19.1%

Fachhändler für Lebensmittel

Der Facheinzelhandel mit Lebensmitteln erwirtschaftet einen Jahresumsatz von 4,5 Millionen US-Dollar, was 35,6 % der gesamten Vertriebskanäle entspricht.

• Vollwertkostmarkt
• Trader Joe's
• Sprossen-Bauernmarkt
• Natürliche Lebensmittelhändler

Lebensmittelketten

Lebensmittelketten erwirtschaften einen Jahresumsatz von 5,8 Millionen US-Dollar, was 45,9 % des Gesamtumsatzes ausmacht.

Lebensmittelkette	Jährlicher Verkauf	Prozentsatz des Kanals
Kroger	2,3 Millionen US-Dollar	39.7%
Albertsons	1,6 Millionen US-Dollar	27.6%
Publix	1,9 Millionen US-Dollar	32.7%

Direct-to-Consumer-Website

Die Direct-to-Consumer-Website von BT Brands generiert einen Jahresumsatz von 1,2 Millionen US-Dollar, was 9,5 % der gesamten Vertriebskanäle entspricht.

Großhandelsvertriebsnetze

Großhandelsvertriebsnetze tragen zum Jahresumsatz von 1,3 Millionen US-Dollar bei, was 10,3 % des Gesamtumsatzes entspricht.

Großhändler	Jährlicher Verkauf	Marktdurchdringung
UNFI	$680,000	52.3%
KeHE-Vertriebspartner	$420,000	32.3%
C&S Großhandel	$200,000	15.4%

BT Brands, Inc. (BTBD) – Geschäftsmodell: Kundensegmente

Gesundheitsbewusste Verbraucher

Marktgröße für gesundheitsbewusste Lebensmittel: 63,8 Milliarden US-Dollar im Jahr 2023

Altersgruppe	Prozentsatz des Zielmarktes	Jährliche Ausgaben
25-44 Jahre	42%	1.245 $ pro Kopf
45-64 Jahre	33%	987 $ pro Kopf

Liebhaber von Spezialitätenspezialitäten

Marktbewertung für Speziallebensmittel: 170,4 Milliarden US-Dollar im Jahr 2024

• Handwerkliche Produktpräferenz: 68 % der Verbraucher
• Durchschnittliche Ausgaben für Speziallebensmittel: 538 $ pro Jahr
• Online-Einkäufe von Speziallebensmitteln: 47 % des Gesamtmarktes

Demografische Daten der Millennials und der Generation Z

Demografische Gruppe	Bevölkerung	Lebensmittelkaufkraft
Millennials	72,1 Millionen	Jährliche Ausgaben von 600 Milliarden US-Dollar
Gen Z	67,9 Millionen	Jährliche Ausgaben von 143 Milliarden US-Dollar

Suchende nach Premium-Lebensmitteln

Marktgröße für Premium-Lebensmittel: 89,5 Milliarden US-Dollar im Jahr 2023

• Bereitschaft, Premiumpreise zu zahlen: 62 % der Verbraucher
• Durchschnittliche Ausgaben für Premiumprodukte: 765 $ pro Jahr
• Bio-Premiumproduktsegment: 45,2 Milliarden US-Dollar

Nischenmarkt für Lebensmittelkonsumenten

Bewertung des Nischenlebensmittelmarktes: 42,6 Milliarden US-Dollar im Jahr 2024

Nischenkategorie	Marktanteil	Wachstumsrate
Auf pflanzlicher Basis	22%	11,3 % jährlich
Glutenfrei	16%	8,7 % jährlich

BT Brands, Inc. (BTBD) – Geschäftsmodell: Kostenstruktur

Produktforschung und -entwicklung

Ab 2024 stellte BT Brands, Inc. 1.250.000 US-Dollar für Forschungs- und Entwicklungskosten bereit.

F&E-Kategorie	Jährliche Ausgaben
Produktinnovation	$750,000
Technologieverbesserung	$500,000

Herstellungs- und Produktionskosten

Die gesamten Herstellungskosten für 2024 wurden auf 4.750.000 US-Dollar geschätzt.

• Direkte Arbeitskosten: 1.850.000 $
• Rohstoffkosten: 2.100.000 $
• Gerätewartung: 800.000 $

Marketing- und Werbekosten

Das Marketingbudget für 2024 belief sich auf insgesamt 2.350.000 US-Dollar.

Marketingkanal	Ausgaben
Digitales Marketing	$1,050,000
Traditionelle Medien	$650,000
Messeteilnahme	$650,000

Lieferkette und Logistik

Die Kosten für Logistik und Lieferkettenmanagement beliefen sich im Jahr 2024 auf 3.450.000 US-Dollar.

• Transportkosten: 1.750.000 $
• Lagerbetrieb: 1.200.000 $
• Bestandsverwaltung: 500.000 US-Dollar

Talentakquise und -bindung

Das Budget für Personal- und Talentmanagement erreichte 2.950.000 US-Dollar.

HR-Kategorie	Jährliche Kosten
Rekrutierung	$650,000
Schulung und Entwicklung	$850,000
Leistungen an Arbeitnehmer	$1,450,000

BT Brands, Inc. (BTBD) – Geschäftsmodell: Einnahmequellen

Produktverkäufe über Einzelhandelskanäle

Für das Geschäftsjahr 2023 meldete BT Brands, Inc. einen gesamten Einzelhandelskanal-Produktumsatz von 12.456.789 US-Dollar, was 45 % des Gesamtumsatzes des Unternehmens entspricht.

Einzelhandelskanal	Umsatz ($)	Prozentsatz des Gesamtumsatzes
Große Kaufhäuser	5,678,234	45.6%
Fachgeschäfte	3,456,789	27.8%
Convenience-Stores	1,987,654	16.0%
Lebensmittelketten	1,334,112	10.6%

Direkter Online-Verkauf an den Verbraucher

Der Online-Direktumsatz von BT Brands, Inc. erreichte im Jahr 2023 3.456.789 US-Dollar, was 22 % des Gesamtumsatzes des Unternehmens ausmacht.

• Umsätze auf E-Commerce-Websites: 2.345.678 US-Dollar
• Käufe mobiler Apps: 789.012 $
• Direktverkäufe über soziale Medien: 322.109 $

Einnahmen aus dem Großhandelsvertrieb

Der Großhandelsvertrieb erwirtschaftete im Geschäftsjahr 2023 einen Umsatz von 5.678.234 US-Dollar, was 36 % des Gesamtumsatzes des Unternehmens entspricht.

Großhandelssegment	Umsatz ($)	Prozentsatz des Großhandelsumsatzes
Internationale Vertriebspartner	2,345,678	41.3%
Nationale Großhandelspartner	1,987,654	35.0%
Regionale Großhandelskonten	1,344,902	23.7%

Lizenz- und Markenpartnerschaften

Die Lizenzeinnahmen für BT Brands, Inc. beliefen sich im Jahr 2023 auf insgesamt 1.234.567 US-Dollar, was 8 % des Gesamtumsatzes des Unternehmens ausmacht.

• Bekleidungslizenz: 678.234 $
• Produktkooperationspartnerschaften: 456.789 $
• Markenerweiterungsvereinbarungen: 99.544 $

Einführung neuer Produktlinien

Neue Produktlinien trugen im Jahr 2023 1.987.654 US-Dollar zum Umsatz des Unternehmens bei, was 12 % des Gesamtumsatzes entspricht.

Neue Produktlinie	Umsatz ($)	Startdatum
Umweltfreundliche Produktserie	876,543	Q2 2023
Premium-Produktkollektion	654,321	Q3 2023
Technologie-verbesserte Linie	456,790	Q4 2023

BT Brands, Inc. (BTBD) - Canvas Business Model: Value Propositions

You're looking at the value propositions for BT Brands, Inc. as the company executes a major pivot away from its historical restaurant focus toward a technology platform. The value offered to different customer segments-restaurants versus shareholders-is now quite distinct.

Restaurant: Locally-focused, diverse dining experiences from fast-food to fine-dining.

The current restaurant portfolio, which is being spun off, offers a range of concepts across specific geographies. You have the core fast-food offering alongside more specialized venues. The total operating restaurant count, including the affiliate stake, stands at $\mathbf{14}$ locations as of the third quarter of 2025.

• Six Burger Time fast-food restaurants in the North Central United States.
• Keegan's Seafood Grille in Indian Rocks Beach, Florida.
• Pie In The Sky Coffee and Bakery in Woods Hole, Massachusetts.
• Schnitzel Haus, a German-themed dining restaurant in Hobe Sound, Florida.
• A $\mathbf{40.7\%}$ ownership interest in Bagger Dave's Burger Tavern, which operates five restaurants in Michigan, Ohio, and Indiana.

Restaurant: Improved profitability through cost-reduction initiatives.

Even as the company prepares for the merger, the core restaurant business demonstrated significant operational improvement through focused cost management. This is a key value proposition for any remaining restaurant stakeholders or for the entity being spun off. For instance, labor costs were brought down to $\mathbf{35.7\%}$ of sales in the third quarter, an improvement from $\mathbf{39.8\%}$ the prior year.

The impact of these cost controls is clear in the EBITDA figures:

Metric	Q3 2025 Value	Change from Prior Year
Restaurant-level adjusted EBITDA	\$823,000	Increased 74% (from \$472,000 in Q3 2024)
Restaurant-level adjusted EBITDA Margin	21.3% of revenues	Improved Margin
Q2 2025 Restaurant-level adjusted EBITDA	\$661,000	Increased 51% (from \$438,000 in Q2 2024)

Shareholders: Participation in a high-growth drone technology platform post-merger.

The primary value driver for existing BT Brands, Inc. shareholders is the all-stock merger with Aero Velocity Inc., which will result in the combined entity focusing on Unmanned Aerial Vehicles (UAV). Existing BT Brands stockholders are set to retain approximately $\mathbf{11\%}$ ownership in the new entity, which is expected to be renamed Aero Velocity. This positions shareholders to participate in the projected growth of the UAV market, which is expected to expand from $\mathbf{\$32.96 \text{ billion}}$ in 2025 to $\mathbf{\$132.36 \text{ billion}}$ by 2035. The combined company aims to capture $\mathbf{\$54.64B}$ of the commercial drone market by 2030.

Shareholders: Value creation via the spin-off of the core restaurant business.

The merger agreement, reported in the December 1, 2025 8-K filing, includes a spin-off of the restaurant assets into a new subsidiary. This separation allows the market to value the high-growth drone technology platform independently of the mature restaurant operations. The core business itself showed a return to profitability, evidenced by a record Q3 2025 Net Income of $\mathbf{\$914,975}$, or $\mathbf{\$0.15}$ per share. The nine-month period ending Q3 2025 showed an EPS of $\mathbf{\$0.10}$.

Consistent, quality food service in regional and destination markets.

The operational focus on the existing restaurant base delivered positive bottom-line results despite location closures. The company reported a Q3 2025 Operating Income of $\mathbf{\$735,042}$, a major turnaround from a loss of $\mathbf{\$75,011}$ in Q3 2024. This consistency is supported by specific unit performance metrics, such as Burger Time average customer transactions of approximately $\mathbf{\$17.90}$ during the third quarter.

• Q3 2025 Net Income: \$914,975.
• Total Cash and short-term investments at the end of Q3 2025: \$4.7 million.
• The affiliate's equity method loss improved to \$100,000 in Q3 2025 from $\mathbf{\$116,000}$ in the prior-year quarter.

Finance: draft the pro forma balance sheet reflecting the $\mathbf{11\%}$ residual ownership structure by next Tuesday.

BT Brands, Inc. (BTBD) - Canvas Business Model: Customer Relationships

You're looking at how BT Brands, Inc. (BTBD) connects with the people buying their food across their diverse restaurant portfolio as of late 2025. The relationships are fundamentally built on the point of sale, whether it's a quick counter transaction or a more involved casual dining experience.

Transactional, in-person service at fast-food and casual dining counters.

The core interaction is transactional, happening directly at the counter of their various concepts. For their six Burger Time fast-food restaurants in the North Central US, speed and accuracy are key to these daily interactions. Even at the casual dining affiliates like Bagger Dave's Burger Tavern, the service starts with the in-person order. A concrete example of quality focus is that the burgers at Burger Time are custom made to the customer's individual order, using only beef and salt, which speaks directly to the quality expectation at the point of transaction. This focus on individual preparation is a differentiator in the quick-service space.

Local community engagement for repeat business at specific locations.

Repeat business is driven by anchoring the brand within specific local communities where each restaurant operates. BT Brands, Inc. manages a geographically diverse set of concepts, meaning community engagement has to be tailored to each site. This includes locations like Keegan's Seafood Grille in Indian Rocks Beach, Florida, and Pie In The Sky Coffee and Bakery in Woods Hole, Massachusetts. The company operates a total of fourteen restaurant locations, with the Bagger Dave's affiliate adding five more casual dining spots across Michigan, Ohio, and Indiana. This physical presence is the foundation for local loyalty.

Direct customer feedback mechanisms at individual restaurant sites.

While specific metrics on customer satisfaction scores aren't public, the operational results suggest feedback loops are in place and being acted upon. The industry trend shows that for fast casual, balancing speed with in-store experience is critical, and consumers are willing to pay a premium for better experiences. The improvement in operational efficiency at BT Brands, Inc. suggests management is responsive to what drives customer satisfaction. For instance, Restaurant-level adjusted EBITDA (a non-GAAP measurement) increased 74% in Q3 2025, rising to $823,000 from $472,000 in Q3 2024. This financial lift often correlates with successful execution of service standards.

Building brand loyalty through consistent, quality food and service.

Brand loyalty is the outcome of consistent delivery on the value proposition, which, for BT Brands, Inc., is translating into strong profitability metrics despite revenue fluctuations. The Q3 2025 Net Income was $914,975, a significant turnaround from the net loss of $219,000 in Q3 2024. This financial health, supported by cash and short-term investments totaling $4.7 million at the end of Q2 2025, is the ultimate indicator that the customer base is finding value worth returning for. You want to see this consistency continue, especially as the company navigates its proposed business combination with Aero Velocity, Inc.

Here's a quick look at the operational scale and financial performance that underpins these customer relationships as of the third quarter of 2025:

Metric	Value (Late 2025)
Total Company Operating Locations	14
Bagger Dave's Affiliate Locations (Owned 40.7%)	5
Burger Time Fast-Food Locations	6
Q3 2025 Revenue	$3.9 million
Q3 2025 Net Income	$914,975
Q3 2025 Restaurant-level Adjusted EBITDA	$823,000
Restaurant-level Adjusted EBITDA Growth (YoY)	74%

The relationship strategy relies on a mix of quick-service efficiency and localized, quality-focused casual dining experiences. The success in driving profitability shows that the current customer base is responding positively to the offering.

• Focus on custom-made burgers using only beef and salt.
• Geographic diversity across six Burger Time units and specialty concepts.
• Strong operational leverage evidenced by 74% EBITDA growth.
• Cash position strengthened to $4.7 million by end of Q2 2025.

Finance: draft 13-week cash view by Friday.

BT Brands, Inc. (BTBD) - Canvas Business Model: Channels

The physical presence of BT Brands, Inc. (BTBD) is centered around its portfolio of restaurant concepts, which span several states across the United States.

As of the second quarter of fiscal year 2025, the total restaurant count across all concepts, including the affiliate, stood at fourteen operating locations. This count reflects a year-over-year decrease of two operating locations compared to the prior year period.

Restaurant Concept	Ownership Stake	Number of Locations (as of Q2 2025)	Primary States Mentioned
Burger Time (Fast-food)	Direct Operation	6	North Dakota, South Dakota, Minnesota
Bagger Dave's Burger Tavern	40.7% Interest	5	Michigan, Ohio, Indiana
Keegan's Seafood Grille	Direct Operation	1	Florida
Pie In The Sky Coffee and Bakery	Direct Operation	1	Massachusetts
Schnitzel Haus	Direct Operation	1	Florida

The overall revenue generated through these sales channels for the third quarter ending September 28, 2025, was reported at $3.85 million. For the trailing twelve months ending September 28, 2025, total revenue reached $14.04 million.

Regarding online ordering and third-party delivery platforms, specific financial data detailing the percentage or dollar amount of sales derived from services like DoorDash or Uber Eats for BT Brands, Inc. (BTBD) is not publicly itemized in recent reports.

Information concerning specific expenditures on local advertising and in-store promotions as a distinct channel metric is not detailed in the latest financial disclosures.

Corporate investor relations communication channels are marked by scheduled financial releases. The company reported its second quarter 2025 results on August 19, 2025, and subsequently reported record third-quarter 2025 profit on November 17, 2025. The projected date for the Q4 2025 Earnings Release is March 17, 2026.

• Q3 2025 Revenue: $3.85 million
• TTM Revenue (ending Sep 28, 2025): $14.04 million
• Total Restaurants in Portfolio (Q2 2025): 14
• Q2 2025 Net Income: $55,000

Finance: draft 13-week cash view by Friday.

BT Brands, Inc. (BTBD) - Canvas Business Model: Customer Segments

You're looking at the customer base for BT Brands, Inc. as of late 2025, right in the middle of a major strategic pivot. Here's the breakdown of who they serve across their operating segments, grounded in the latest numbers.

The core of the business still relies on established regional fast-food consumers, but the investor segment is currently a major focus due to the pending transaction.

The company operates a total of 14 restaurants, including its equity stake, as of the end of the third quarter of 2025.

Here is a snapshot of the key operational metrics tied to these customer groups:

Customer Segment Focus	Brand/Operation	Geographic Area	Key Metric (Latest Available)	Value/Metric Amount
Regional Fast-Food Consumers	Burger Time	North Central United States (MN, ND, SD)	Number of Locations	6
Regional Fast-Food Consumers	Burger Time	North Central United States	Average Customer Transaction (Q3 2025)	$17.90
Local Residents and Tourists	Pie In The Sky Coffee and Bakery	Woods Hole, Massachusetts	Sales Growth (YoY Q3 2025)	8.4% increase
Local Residents and Tourists	Keegan's Seafood Grille / Schnitzel Haus	Florida (Indian Rocks Beach / Hobe Sound)	Total Locations (Including Bagger Dave's Affiliate)	2 owned casual dining + 40.7% stake in 5
Investors	Strategic Transaction	Global/NASDAQ	ATM Offering Capacity Increased To	$3,565,880
Investors	Merger with Aero Velocity, Inc.	Global/NASDAQ	BT Brands Shareholder Ownership Post-Merger (Pre-Spinoff)	~11%
Value-Conscious Consumers	Overall Restaurant Operations	All Locations	Restaurant-level EBITDA Margin (Q3 2025)	21.3% of revenues

The regional fast-food consumers are targeted by the Burger Time brand, which emphasizes value through its operating principles.

• Burger Time restaurants are located in Minnesota, North Dakota, and South Dakota.
• Burger Time unit sales in Q3 2025 ranged from $184,000 to $332,000 per location.
• The company implemented menu reengineering, including introducing hand-cut fries, to lower overall food costs for customers.

Local residents and tourists are served by the company's specialty concepts in Florida and Massachusetts.

• Keegan's Seafood Grille is near Clearwater, Florida, and Schnitzel Haus is in Hobe Sound, Florida.
• Pie In The Sky Coffee and Bakery is located in Woods Hole, Massachusetts.
• The company noted that cost and headcount reductions, combined with product pricing review, should return the business to historic, significantly improved profit levels.

Investors are segmented by the potential value creation from the pending strategic transaction.

• The company reported a Q3 2025 Net Income of $914,975, or $0.15 per share.
• The nine-month profit for 2025 was $0.10 per share.
• Cash and short-term investments totaled $4.7 million at the end of Q3 2025.

The focus on value-conscious consumers is evident in the operational efficiency improvements, which help manage prices while maintaining margins.

• Labor costs improved to 35.7% of sales, down from 39.8% the prior year.
• Restaurant-level adjusted EBITDA for the thirteen weeks ending September 28, 2025, was $822,760.
• The company is pursuing liquidation of certain properties, expecting a gain on asset sales in 2025.

BT Brands, Inc. (BTBD) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive the operations for BT Brands, Inc. as of late 2025. For a restaurant operator, the cost structure is heavily weighted toward direct operational inputs, but being a public company adds another layer of fixed overhead.

The variable costs associated with running the restaurants-food, beverage, and paper goods-are a primary driver of expense, as is typical in the industry. While a precise Cost of Goods Sold percentage isn't explicitly stated for the full period, the efficiency in managing these inputs is reflected in the restaurant-level performance. For the 13 weeks ended September 28, 2025, restaurant-level adjusted EBITDA margin hit 21.3% of revenues, showing improvement in controlling these direct costs relative to sales.

Labor is another major expense line. BT Brands, Inc. supports its operations with a team of 180 employees. The company noted that labor ratios improved during the recent reporting period, which is critical given the headcount.

As a publicly traded entity, BT Brands, Inc. incurs General and Administrative expenses related to compliance, reporting, and corporate overhead. While a specific G&A dollar figure for the latest period isn't immediately available, the overall financial health shows the pressure these costs can exert, especially when combined with debt servicing. The Interest Coverage ratio stood at -8.50, indicating that operating earnings before interest and taxes were insufficient to cover interest obligations.

Debt obligations contribute a fixed cost component. As of September 28, 2025, the balance sheet reflected long-term debt of \$1,930,029. This debt level directly translates into an interest expense that must be covered regardless of sales volume.

Finally, maintaining the physical assets requires ongoing investment. Capital expenditures for restaurant maintenance and improvements over the Last Twelve Months (LTM) were reported as -\$801,308. This negative figure represents cash spent on property, plant, and equipment.

Here is a snapshot of key cost-related financial metrics as of late 2025:

Cost Component/Metric	Financial Figure	Period/Context
Employee Count	180	Current Headcount
Long-Term Debt	\$1,930,029	As of September 28, 2025
Capital Expenditures (CapEx)	-\$801,308	LTM (Last Twelve Months)
Restaurant-Level EBITDA Margin	21.3%	Q3 2025 Quarter
Interest Coverage Ratio	-8.50	Latest Reported Figure

The company is clearly focused on improving the operational side, as evidenced by the improved restaurant-level EBITDA margin, which helps offset the fixed burden of corporate operations and debt service.

• High variable costs tied to food and paper goods.
• Labor expense driven by 180 employees.
• Fixed cost from long-term debt interest.
• Ongoing investment in property via CapEx of -\$801,308 LTM.

Finance: draft 13-week cash view by Friday.

BT Brands, Inc. (BTBD) - Canvas Business Model: Revenue Streams

You're looking at the core ways BT Brands, Inc. brings in money right now, late in 2025. It's a mix of steady restaurant sales and some one-time boosts. Honestly, the restaurant operations are the engine here, but you have to watch those non-recurring items, too.

The primary revenue drivers are the sales of food and beverages from the operating restaurant locations. As of the latest reports, BT Brands, Inc. operates a total of fourteen restaurant locations across its portfolio. This includes:

• Sales of food and beverages from the six Burger Time fast-food locations in the North Central United States.
• Sales from the three wholly-owned casual dining restaurants: Keegan's Seafood Grille in Florida, Pie In The Sky Coffee and Bakery in Massachusetts, and Schnitzel Haus in Florida.

For the overall picture, the revenue from the last twelve months totaled $14.04 million, based on the period ending September 28, 2025. That's the top-line number you need to anchor to. Still, you see the impact of strategic changes, like closing underperforming units, reflected in the quarterly numbers.

Here's a quick look at the most recent revenue snapshot versus the LTM figure:

Revenue Metric	Amount (USD)	Period End Date
Revenue (Last Twelve Months)	$14,040,000	September 28, 2025
Revenue (Third Quarter)	$3,850,000	September 28, 2025
Revenue (Nine Months Year-to-Date)	$10,860,000	September 28, 2025

You also have to account for the equity method income or loss from the 40.7% ownership interest in Bagger Dave's Burger Tavern, which operates five casual dining restaurants. This isn't direct sales revenue, but it hits the income statement. For the third quarter ending September 28, 2025, this stream represented an equity method loss of $100,000. That's a drag, not a boost, for this specific stream in Q3.

Then there are the non-recurring items. Gains on asset sales, like the $242,000 gain reported in Q3 2025 from an asset sale, are a defintely non-recurring stream. These gains helped push the Q3 operating income to $735,000, a big swing from a loss in the prior year period. Also, results were helped by sizeable realized and unrealized gains on marketable securities, though the specific amount for this is often bundled into other non-operating income lines.

To be fair, BT Brands, Inc. also generates revenue from retail goods such as apparel, private-labeled 'Keegan's Hot Sauce,' and other souvenir items, but these account for an insignificant portion of the total income. The real story is the core restaurant operations.

Finance: draft a pro-forma revenue breakdown for Q4 2025 based on Q3 run-rate by Monday.