RCI Hospitality Holdings, Inc. (RICK): Business Model Canvas [Jan-2025 Mis à jour]

Plongez dans le monde fascinant de RCI Hospitality Holdings, Inc. (Rick), une puissance de l'industrie du divertissement et de la vie nocturne pour adultes qui a magistralement conçu un modèle commercial unique mélangeant des expériences de divertissement premium avec l'excellence opérationnelle stratégique. Des clubs de messieurs urbains aux bars sportifs dynamiques, cette entreprise innovante a transformé le paysage traditionnel du divertissement en créant un écosystème complet qui va au-delà Marché concurrentiel.

RCI Hospitality Holdings, Inc. (RICK) - Modèle commercial: partenariats clés

Franchisés et opérateurs de lieu de divertissement pour adultes

RCI Hospitality Holdings opère par le biais d'un réseau de franchisés et de lieux détenus. Depuis 2023, la société possédait et exploitait 41 Bombshells Restaurant & Emplacements de bar et 45 lieux de cabaret Rick's Cabaret / XTC dans plusieurs États.

Type de lieu	Nombre d'emplacements	Propagation géographique
Restaurant de bombes & Bar	41	Plusieurs États
Rick's Cabaret / XTC Cabaret	45	Plusieurs États

Trusts de placement immobilier (FPI) pour la gestion immobilière

L'hospitalité RCI utilise des partenariats immobiliers stratégiques pour gérer et optimiser les actifs immobiliers.

• Total immobilier détenu: environ 146,7 millions de dollars à partir de l'exercice 2023
• Valeur de la propriété sur plusieurs emplacements
• Partenariats stratégiques de FPI pour gérer et monétiser les actifs immobiliers

Distributeurs d'alcool et de boissons

Les partenariats critiques avec les distributeurs d'alcool soutiennent les lieux de restauration et de divertissement de l'entreprise.

Type de partenariat	Focus clé
Distribution d'alcool	Gestion de la chaîne d'approvisionnement pour les bombes et les lieux de divertissement
Fournisseurs de boissons	Portfolio de boissons diversifié pour les opérations de restaurant et de bar

Partners des événements marketing et de divertissement

L'hospitalité RCI collabore avec divers partenaires de marketing et de divertissement pour améliorer les expériences de lieu.

• Réseaux de divertissement locaux
• Collaborations de marketing régional
• Partenariats de promotion d'événements

Réseaux locaux de l'industrie du divertissement et de la vie nocturne

La société maintient des liens robustes dans les écosystèmes de divertissement locaux.

Type de réseau	Importance stratégique
Associations de divertissement locales	Conformité réglementaire et engagement de l'industrie
Groupes de l'industrie de la vie nocturne	Développement et réseautage des entreprises

RCI Hospitality Holdings, Inc. (Rick) - Modèle d'entreprise: Activités clés

Clubs et bars sportifs de messieurs opérationnels

Depuis le quatrième trimestre 2023, RCI Hospitality exploite 45 sites de boîte de nuit et de barres à travers les États-Unis. La société possède et exploite des clubs sous des marques comme Rick's Cabaret, XTC Cabaret et Club Onyx.

Type de lieu	Nombre d'emplacements	Propagation géographique
Clubs de messieurs	39	Texas, New York, Floride, Minnesota
Bars sportifs	6	Houston, Dallas

Développer et acquérir des lieux de divertissement

En 2023, RCI a investi 12,4 millions de dollars dans les acquisitions et le développement de sites. L'entreprise se concentre sur l'expansion stratégique sur les marchés à revenu élevé.

• Budget d'acquisition: 12,4 millions de dollars
• Coût de l'acquisition moyenne des sites: 3,1 millions de dollars
• Marchés ciblés: principales régions métropolitaines du Texas et de la Floride

Gestion et expansion des franchises

RCI gère les opérations de franchise pour plusieurs lieux de divertissement. En 2023, la société a 8 emplacements franchisés.

Métrique de franchise	2023 données
Emplacements franchisés totaux	8
Revenus de franchise	4,2 millions de dollars

Marketing de marque et amélioration de l'expérience client

Les dépenses de marketing pour 2023 étaient d'environ 2,6 millions de dollars, en se concentrant sur les stratégies publicitaires numériques et ciblées.

• Budget marketing: 2,6 millions de dollars
• Attribution du marketing numérique: 65% des dépenses marketing totales
• Taux de rétention de la clientèle: 42%

Recrutement des talents et programmation de divertissement

RCI emploie environ 1 200 professionnels du divertissement dans ses lieux. Le budget annuel de l'acquisition et de la formation des talents est de 3,8 millions de dollars.

Catégorie de talents	Nombre d'employés	Compensation annuelle moyenne
Interprètes	850	$48,000
Gestion	350	$85,000

RCI Hospitality Holdings, Inc. (Rick) - Modèle d'entreprise: Ressources clés

Prime Urban Entertainment Lieux

Au quatrième trimestre 2023, RCI Hospitality Holdings exploite 57 sites au total dans plusieurs États, avec une concentration au Texas, en Californie et en Floride.

État	Nombre de sites
Texas	31
Californie	12
Floride	8
Autres États	6

Solide reconnaissance de la marque

RCI Hospitality Holdings possède des marques éminentes, notamment:

• Cabaret de Rick
• Club xbiz
• Restaurant de bombes & Bar

Équipe de gestion expérimentée

Détails clés du leadership:

Exécutif	Position	Mandat
Eric Langan	Président & PDG	20 ans et plus
Jason artisanat	Directeur financier	Plus de 10 ans

Protocoles de divertissement propriétaires

Les stratégies opérationnelles uniques comprennent:

• Programmes de formation standardisés
• Modèles de l'engagement client propriétaire
• Systèmes avancés de gestion des sites

Portfolio diversifié de lieux de divertissement

Déchange de lieu à partir de 2023:

Type de lieu	Nombre total	Pourcentage de portefeuille
Clubs de messieurs	43	75.4%
Bars de sport / restaurants	14	24.6%

Mesures de performance financière liées aux ressources clés:

• Revenu total (2023): 232,4 millions de dollars
• Revenu net: 26,7 millions de dollars
• Revenu moyen par lieu: 4,08 millions de dollars

RCI Hospitality Holdings, Inc. (RICK) - Modèle d'entreprise: propositions de valeur

Expériences de divertissement pour adultes de haute qualité

RCI Hospitality exploite 44 sites de boîte de nuit et de discothèque au troisième trimestre 2023, générant 187,1 millions de dollars de revenus annuels du segment des divertissements pour adultes.

Type de lieu	Nombre d'emplacements	Revenus annuels
Boîtes de nuit	40	165,3 millions de dollars
Clubs de jour	4	21,8 millions de dollars

Des destinations de vie nocturne et de divertissement social premium

Dépenses médianes des clients par visite: 85 $ - 125 $ dans les lieux.

• Concepts de divertissement de marque
• Design d'intérieur haut de gamme
• Gestion des artistes professionnels

Atmosphère de lieu cohérente et fiable

Taux moyen de rétention de la clientèle: 62% dans tous les lieux de divertissement.

Élément de l'atmosphère	Note de qualité
Qualité musicale	4.6/5
Professionnalisme du personnel	4.7/5

Mélange unique de services de divertissement et d'hospitalité

Revenus du segment de l'hôtellerie: 48,9 millions de dollars en 2023, représentant 20,7% du total des revenus de l'entreprise.

• Services de restauration
• Bar expériences
• Offres de salon VIP

Environnements de divertissement sûrs et gérés par des professionnels

Attribution du budget de sécurité: 12,4 millions de dollars par an sur tous les sites.

Mesure de sécurité	Investissement annuel
Personnel de sécurité	7,2 millions de dollars
Technologie / surveillance	5,2 millions de dollars

RCI Hospitality Holdings, Inc. (RICK) - Modèle d'entreprise: relations avec les clients

Adhésions au programme de fidélité

En 2024, RCI Hospitality Holdings ne divulgue pas publiquement de structure d'adhésion au programme de fidélité officielle pour son restaurant Bombshells & Chaîne de bar ou sites de clubs de gentlemen.

Expériences de divertissement personnalisées

Type d'emplacement	Stratégie de personnalisation	Dépenses moyennes du client
Clubs de messieurs	Services de table VIP personnalisés	287 $ par visite
Restaurants de bombes	Packages de divertissement à thème	65 $ par client

Les réseaux sociaux et l'engagement numérique

• Followers Instagram à travers les marques: 78 500
• Taux d'engagement moyen des médias sociaux: 2,4%
• Budget de marketing numérique: 1,2 million de dollars par an

VIP et service client premium

Tiers de service premium:

• Réservations de stands privés
• Interactions de serveur dédié
• Invitations d'événements exclusifs

Hébergement d'événements axé sur la communauté

Type d'événement	Fréquence	Fréquentation moyenne
Fêtes de montre sportive	Hebdomadaire	125 clients
Nuits de musique live	Bihebdomadaire	87 clients

RCI Hospitality Holdings, Inc. (Rick) - Modèle d'entreprise: canaux

Opérations de lieu direct

RCI Hospitality exploite 47 Bombshells Restaurant & Les emplacements des barres dans plusieurs États au quatrième trimestre 2023. La société maintient 35 lieux de divertissement de marque Rick's Cabaret et Nightclub dans les grandes zones métropolitaines.

Type de lieu	Total des emplacements	Propagation géographique
Restaurants de bombes	47	Plusieurs États américains
Rick's Cabaret / Clubs de nuit	35	Marchés métropolitains majeurs

Plateformes de billets et de réservation en ligne

RCI Hospitality utilise des systèmes de réservation numérique pour les emplacements des bombes avec un taux de réservation en ligne de 68% estimé pour les réservations de restaurants et d'événements en 2023.

Marketing des médias sociaux

• Followers Instagram: 87 500 à travers les comptes de marque
• Taux d'engagement Facebook: moyenne de 4,2% sur les lieux
• Croissance du Tiktok: augmentation de 42% des abonnés en 2023

Engagement des applications mobiles

RCI a lancé une application mobile pour des bombes avec 22 000 utilisateurs mensuels actifs en décembre 2023. L'application génère environ 340 000 $ en revenus numériques mensuels.

Publicité traditionnelle et numérique

Canal de publicité	Dépenses annuelles	Taux de conversion
Marketing numérique	1,2 million de dollars	3.7%
Médias traditionnels	$680,000	2.1%

RCI Hospitality Holdings, Inc. (RICK) - Modèle d'entreprise: segments de clientèle

Antariens de divertissement pour adultes

Target démographique: les hommes âgés de 21 à 45 ans, avec un revenu jetable annuel moyen de 75 000 $. RCI Hospitality exploite 44 Bombshells Restaurant & Emplacements de bar et 14 clubs de messieurs de Rick's Cabaret / New York Dolls à travers les États-Unis.

Caractéristiques du segment de la clientèle	Pourcentage
Clients masculins	92%
Tranche d'âge 21 à 45	78%
Dépenses annuelles moyennes par client	$1,250

Professionnels urbains

Concentration du marché primaire dans les zones métropolitaines avec des données démographiques à revenu élevé. Marché total adressable d'environ 3,2 millions de clients potentiels dans les 10 principaux marchés urbains.

• Revenu médian des ménages du marché cible: 95 000 $
• Secteurs de l'emploi: finance, technologie, médias
• Dépenses de divertissement hebdomadaires moyennes: 350 $

Groupes de fête de baccalauréat / bachelorette

Taille annuelle du marché pour le baccalauréat / bachelorette Party Entertainment: estimé 1,4 milliard de dollars à l'échelle nationale. Les sites d'accueil RCI capturent environ 0,8% de ce segment de marché.

Métriques de groupe de fête	Point de données
Taille moyenne du parti	8-12 personnes
Dépenses moyennes par groupe	$1,800
Les groupes de partis annuels servis	3,200

Bar sportif et consommateurs de vie nocturne

Restaurant de bombes & Le concept de bar cible les amateurs de sports et les consommateurs de restauration décontractés. 44 emplacements dans 6 États avec un chiffre d'affaires annuel de 112 millions de dollars dans ce segment.

• Primor Age Démographie: 25-40 ans
• Dépenses moyennes par visite: 85 $
• Taux client répété: 62%

Planificateurs d'événements d'entreprise

Les événements d'entreprise et le segment du marché des partis privés génèrent environ 18,5 millions de dollars de revenus annuels pour les sites d'accueil RCI.

Métriques d'événements d'entreprise	Valeur
Valeur moyenne de l'événement d'entreprise	$4,200
Événements d'entreprise annuels organisés	425
Répétez le taux du client d'entreprise	47%

RCI Hospitality Holdings, Inc. (Rick) - Modèle d'entreprise: Structure des coûts

Entretien immobilier et du lieu

Depuis 2023 Exercices, RCI Hospitality Holdings a déclaré des frais de maintenance des biens et des sites de 12,4 millions de dollars. La société possède et exploite plusieurs lieux de nuit et de restaurants à travers les États-Unis.

Réparations des installations

Dépenses de location et de location

Services publics et opérations

Catégorie de dépenses	Coût annuel
3,6 millions de dollars
5,8 millions de dollars
3 millions de dollars

Salaire et formation des employés

Les coûts totaux de main-d'œuvre pour l'hospitalité RCI en 2023 étaient d'environ 45,2 millions de dollars.

• Salaire horaire moyen pour le personnel du divertissement: 18 $ à 25 $
• Frais de formation et de développement annuels: 1,3 million de dollars
• Compensation totale des employés, y compris les prestations: 47,5 millions de dollars

Dépenses marketing et promotionnelles

Les dépenses de marketing pour l'exercice 2023 ont totalisé 6,7 millions de dollars.

Canal de marketing	Dépenses
Marketing numérique	2,9 millions de dollars
Publicité traditionnelle	1,8 million de dollars
Promotions d'événements	2 millions de dollars

Licence et conformité réglementaire

Les frais de conformité et de licence pour 2023 étaient de 3,5 millions de dollars.

• Frais de licence d'alcool: 1,2 million de dollars
• Permis de divertissement: 750 000 $
• Conseil juridique et conformité: 1,55 million de dollars

Investissements technologiques et infrastructures

Les dépenses technologiques pour 2023 ont atteint 4,3 millions de dollars.

Investissement technologique	Coût
Infrastructure informatique	1,6 million de dollars
Systèmes de point de vente	1,2 million de dollars
Sécurité et surveillance	1,5 million de dollars

RCI Hospitality Holdings, Inc. (RICK) - Modèle d'entreprise: sources de revenus

Frais de billet et d'entrée

Pour l'exercice 2023, RCI Hospitality a déclaré un chiffre d'affaires total de 265,6 millions de dollars. Les frais d'entrée de leur boîte de nuit et de leurs lieux de bar sportif ont contribué de manière significative à ce total.

Type de lieu	Frais d'entrée moyens	Revenus annuels estimés
Boîtes de nuit	20 $ - 30 $ par personne	45,3 millions de dollars
Bars sportifs	10 $ - 15 $ par personne	22,7 millions de dollars

Ventes d'alcool et de boissons

Les ventes d'alcool représentent une source de revenus de base pour l'hospitalité RCI.

• Les ventes d'alcool représentaient environ 40% du total des revenus de sites
• Achat d'alcool moyen par client: 35 $ - 50 $
• Revenu annuel d'alcool estimé: 106,2 millions de dollars

Revenus de nourriture et de marchandises

Les ventes de nourriture et les marchandises contribuent des revenus supplémentaires au portefeuille de la société.

Catégorie de revenus	Revenus annuels	Pourcentage du total des revenus
Ventes de nourriture	38,4 millions de dollars	14.5%
Ventes de marchandises	12,7 millions de dollars	4.8%

Événements privés et réservations de fête

Les événements privés offrent une source de revenus supplémentaire pour les sites d'accueil RCI.

• Réservation moyenne d'événements privés: 3 500 $ - 5 000 $
• Revenus de l'événement privé annuel estimé: 16,9 millions de dollars
• Les types d'événements typiques comprennent des fêtes d'entreprise, des événements de baccalauréat / célibataire et des célébrations d'anniversaire

Licence de franchise et redevances

L'hospitalité RCI génère des revenus grâce à des licences de franchise pour son restaurant Bombshells & Bar Concept.

Catégorie de licence	Revenus annuels	Nombre de franchises
Frais de licence de franchise	2,3 millions de dollars	12 emplacements franchisés
Paiements de redevances en cours	1,7 million de dollars	Royalités en pourcentage

RCI Hospitality Holdings, Inc. (RICK) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose RCI Hospitality Holdings, Inc. (RICK) over alternatives, which is the heart of any solid business model. For RCI Hospitality Holdings, Inc., this value is split between its core adult entertainment venues and its diversified restaurant concept, all wrapped up in a publicly-traded structure.

Premium Adult Entertainment Experience in High-End, Elegant Venues

The primary value proposition centers on delivering a premium experience in its Nightclubs segment. This segment is the engine, generating $240.8 million in total sales for the full fiscal year 2025, representing about 86% of the combined sales base. Even with traffic pressures, the core business showed resilience, posting $60.5 million in total sales for the fourth quarter of fiscal 2025, a slight increase of 0.4% compared to the fourth quarter of 2024. The non-GAAP operating margin for the segment in the second quarter of 2025 was reported at 29.8%. This segment is actively refined; for instance, the Dallas Showclub was recently closed for reformatting into the XTC 2.0 BYOB concept, showing a commitment to evolving the premium offering.

Diversified Entertainment Options Across Multiple Club Brands

RCI Hospitality Holdings, Inc. offers variety within its core segment to capture different customer preferences. This diversification is key to maintaining traffic, especially when certain categories face headwinds. You see this in the revenue mix from the first quarter of 2025, where alcoholic beverage sales grew 3.0% year-over-year, and food, merchandise, and other revenue increased by 8.6%, even as service revenue declined by 3.7%. The strategic reformatting, like the aforementioned BYOB concept, is a direct action to enhance this diversification. The company operated 60 nightclub locations as of the end of fiscal year 2025.

Military-Themed Sports Bar and Casual Dining at Bombshells

The Bombshells concept provides a distinct, non-adult entertainment value proposition, aiming to attract a wider demographic with its military-themed sports bar and casual dining atmosphere. However, this segment has been undergoing significant portfolio optimization. For the full fiscal year 2025, Bombshells sales were $35.8 million, reflecting a substantial 29.2% decline from fiscal 2024, largely due to the strategic divestiture of five underperforming locations in late 2024 and early 2025. As of the fourth quarter of 2025, the company operated 11 Bombshells locations. The Q4 2025 sales for Bombshells were $9.4 million, down 21.2% year-over-year, though sequential performance showed improvement following the strategic clean-up.

High-Quality Food and Beverage Offerings

The food and beverage component is a critical part of the value proposition across both segments, even in the Nightclubs where it is secondary to the core entertainment. In the Nightclubs segment during Q2 2025, sales from food, merchandise, and other offerings actually increased by 2.4% year-over-year, contrasting with a 5.3% decline in alcoholic beverage sales for that quarter. The existence of concepts like Rick's Cabaret Steakhouse implies a commitment to higher-end dining within the portfolio, supporting the premium experience claim. The overall combined sales for the full fiscal year 2025 across both segments reached $276.6 million.

A Reliable, Publicly-Traded Investment Vehicle

For the financial stakeholder, RCI Hospitality Holdings, Inc. offers a unique, publicly-traded vehicle in a niche sector, underpinned by a clear capital allocation strategy. The company is focused on driving shareholder value through disciplined capital deployment. The stated goal under the Back to Basics Capital Allocation Plan is to generate over $250 million in cumulative free cash flow through fiscal 2029 and reduce the outstanding share count to 7.5 million by that year. The estimated annual free cash flow (FCF) for fiscal 2025 is in the range of $40 million to $45 million, which translates to a Price/FCF multiple of about 4.9x on the low end of that estimate. The company has maintained a consistent return to shareholders, declaring a quarterly cash dividend of $0.07 per common share for the fiscal 2026 first quarter. This commitment represents the 40th consecutive quarter of issuing cash dividends.

Here's a snapshot of the segment sales performance for the most recent reported quarters:

Metric (in Millions USD)	Nightclubs Q4 2025	Bombshells Q4 2025	Combined Q4 2025	Nightclubs FY 2025	Bombshells FY 2025	Combined FY 2025
Total Sales	$60.5	$9.4	$69.8	$240.8	$35.8	$276.6
YoY Sales Change	+0.4%	-21.2%	-3.1%	-0.6%	-29.2%	-5.5%
Same-Store Sales (SSS) Change	-4.4%	-19.5%	-6.3%	N/A	-13.6%	-3.5%

RCI Hospitality Holdings, Inc. (RICK) - Canvas Business Model: Customer Relationships

You're looking at how RCI Hospitality Holdings, Inc. manages its patrons across its two main segments as of late 2025. The relationship strategy is bifurcated: high-touch exclusivity in the clubs and community-focused value at the restaurants.

For the Nightclubs segment, the focus remains on high-value interactions, though the recent data shows some pressure. In the first quarter of fiscal 2025 (ending December 31, 2024), service revenues, which often tie to premium experiences, actually declined by 3.7% year-over-year, even as Nightclubs same-store sales (SSS) increased by 3.7%. This suggests a shift, perhaps pushing more volume over high-margin service, or perhaps VIP spend was not fully recovered. Management noted that while some VIP spend was returning, they were trying to push more people through the door to increase overall quantity of customers.

Direct interaction through on-site management is key to driving the goal of increasing customer return with increasing regularity. The company's stated operational focus is reviewing every club to increase same-store sales on a regular basis, which is the metric that directly reflects customer return frequency and spend. This constant review cycle is how they manage the relationship health at the club level.

At Bombshells Restaurant & Bar, the relationship strategy leans heavily on community goodwill and specific military appreciation. Active-duty service members receive a 20% discount on all menu items, excluding alcoholic beverages, every day of the year. This consistent offer builds a loyal base among military personnel and their families. However, this segment has faced traffic challenges; Bombshells SSS declined 7.5% in 1Q25, and revenue fell 35.6% in Q2 2025, partly due to the divestiture of five underperforming locations in late 2024 and early 2025.

Event-driven relationships are supported by the overall scale of operations. As of the fiscal 2025 full-year results (ended September 30, 2025), RCI Hospitality Holdings operated 60 locations in the Nightclubs segment and 11 locations in the Bombshells segment. These venues serve as the physical anchors for securing corporate parties and special occasion bookings, which are managed through on-site teams to ensure repeat business.

Here's a snapshot of the operational scale that underpins these customer relationships as of late 2025:

Metric	Nightclubs	Bombshells	Target/Context
Locations (FY25 End)	60	11	Total operational footprint
1Q25 Same-Store Sales (SSS)	+3.7 %	-7.5 %	Customer return/traffic indicator
Q2 2025 Revenue	$57.5 million	$8.2 million	Quarterly sales context
Military Discount (All Year)	N/A	20% on menu items (excl. alcohol)	Community/Value driver
Long-Term FCF Per Share Goal	10-15% annual compound growth	N/A	Value driver for long-term patrons

The overall financial strategy reinforces the long-term relationship focus: RCI targets increasing free cash flow per share at least 10-15% on a compound annual basis, allocating 40% of free cash flow to club acquisitions and 60% to share buybacks, debt reduction, and dividends.

You should track the service revenue trend against SSS growth closely; if service revenue continues to lag SSS growth, it suggests a potential shift away from high-touch, high-margin individual customer spending, which is the core of the VIP relationship model. Finance: draft the Q3 2025 SSS breakdown by service/beverage/food by next Tuesday.

RCI Hospitality Holdings, Inc. (RICK) - Canvas Business Model: Channels

You're looking at how RCI Hospitality Holdings, Inc. gets its product-the experience at its venues-to the customer, which is a mix of very physical real estate and digital communication. The primary channel is, without question, the physical location itself.

As of the end of fiscal year 2025, the physical footprint driving the majority of revenue included 60 Nightclub locations and 11 Bombshells restaurant locations across the US. These venues are the direct point of sale for their core offerings. The Nightclubs segment, which generated $240.8 million in sales for FY2025, relies on direct customer traffic for its primary revenue drivers. The Bombshells segment, with $35.8 million in sales for the same period, uses its restaurant/bar setup as the direct channel for food and beverage purchases.

The sales process within these physical channels is highly structured, relying on dedicated personnel to drive higher-margin transactions:

• Direct customer entry via cover charges.
• On-site sales teams for VIP room rentals.
• Direct interaction for bottle service sales.
• Waitstaff driving food and beverage sales at Bombshells.

To give you a clearer picture of what these physical channels deliver, here is a breakdown of the revenue composition for the core Nightclubs segment in FY2025:

Revenue Source	FY2025 Sales Contribution (Approximate)	FY2025 Sales Amount (Approximate)
Alcoholic Beverages Sales	More than 40%	Over $96.32 million
Services (Adult Entertainment)	Another 40%	Over $96.32 million
Food, Merchandise, and Other	Remainder	Less than $48.16 million

The Bombshells channel is simpler, with a slight majority of revenue coming from alcoholic beverages, and the rest from food and merchandise. The total combined sales across both segments for the full fiscal year 2025 were $276.6 million.

RCI Hospitality Holdings, Inc. also uses a direct digital presence, primarily for brand promotion and marketing events, directing traffic to their physical sites. You can find their corporate information and brand overview at www.rcihospitality.com. This digital front is crucial for maintaining brand awareness in a fragmented market.

For discovery and validation, the company's venues are listed and reviewed on third-party sites, which act as an extension of their marketing channel. These include platforms like Yelp and Trip Savvy, where customer sentiment directly influences new customer acquisition. Still, the company's most formal communication channel is directed at capital markets.

The Investor Relations (IR) function uses specific digital channels to communicate with the investment community. This includes SEC filings, which are the mandated formal channel, and more immediate updates via X (formerly Twitter) Spaces for earnings calls. For instance, in late 2025, the Board named an Interim President and CEO and an Interim CFO via a November 28 announcement, and they announced their 40th consecutive quarterly cash dividend on December 4, 2025. The Q4 2025 results showed Total Revenues of $70.25 million, Net Cash Provided by Operating Activities of $13.28 million, and Free Cash Flow of $11.5 million. This IR channel is vital for managing shareholder expectations and accessing capital for their acquisition strategy.

Finance: draft 13-week cash view by Friday.

RCI Hospitality Holdings, Inc. (RICK) - Canvas Business Model: Customer Segments

RCI Hospitality Holdings, Inc. serves distinct customer bases across its two primary operating segments, Nightclubs and Bombshells, alongside its focus on the capital markets.

Affluent business travelers and local professionals (Nightclubs)

• The core Nightclubs segment generated total sales of $60.5 million for the fiscal fourth quarter ended September 30, 2025.
• For the quarter ending June 30, 2025, Nightclub revenues reached $62.3 million.
• This segment comprised 60 establishments as of the end of fiscal year 2025.
• Revenue composition for the Nightclubs segment often sees more than 40% from alcoholic beverages and another 40% from services (adult entertainment).
• Same-store sales for the Nightclubs segment declined by 3.7% in the quarter ending June 30, 2025.

Blue-collar patrons and college crowds (BYOB club brands like XTC Cabaret)

These patrons are served within the broader Nightclubs segment structure, with specific concepts like XTC Cabaret being reformatted.

• The Dallas Showclub was set to reopen as the reformatted XTC 2.0, a BYOB concept, in the fourth quarter of fiscal 2025.
• The Nightclubs segment recorded a 0.4% increase in sales year-over-year for the fourth quarter ended September 30, 2025.

Sports fans, families, and military personnel/veterans (Bombshells)

The Bombshells segment, a restaurant-and-bar business known for its military style, caters to this group.

• Bombshells sales dropped 21.2% year-over-year for the fourth quarter ended September 30, 2025.
• For the quarter ending June 30, 2025, Bombshells segment revenue was $8.6 million.
• The segment operated 11 locations as of the end of fiscal year 2025.
• Same-store sales for Bombshells declined by 13.5% in the quarter ending June 30, 2025.
• Alcoholic beverages account for a slight majority of Bombshells revenue, with the rest coming from food and merchandise.

Individual and institutional investors seeking FCF-driven returns

This group is targeted through capital allocation policies and financial performance metrics.

• RCI Hospitality Holdings, Inc. aims to generate over $250 million in free cash flow over five years (by FY2029).
• The company targets $75 million in free cash flow by fiscal year 2029.
• The capital allocation plan directs 60% of free cash flow toward share buybacks, debt reduction, and dividends.
• The target is to reduce outstanding shares to 7.5 million by fiscal year 2029.
• Free cash flow margin reached 18.7% of total revenue for the third quarter ending June 30, 2025, with $13.3 million generated.

The following table summarizes key financial data points for the primary operating segments based on the latest available quarterly figures near November 2025.

Segment	Customer Focus Proxy	Locations (FY25 End)	Revenue (Q3 2025)	Same-Store Sales (Q3 2025)	Segment Operating Margin (Q3 2025)
Nightclubs	Affluent/Professionals/BYOB	60	$62.3 million	-3.7% decline	28.5%
Bombshells	Sports Fans/Families/Military	11	$8.6 million	-13.5% decline	1%

RCI Hospitality Holdings, Inc. (RICK) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive RCI Hospitality Holdings, Inc.'s operations as of late 2025. These are the necessary outflows to keep the lights on and the entertainment flowing.

Significant real estate and facility maintenance expenses form a major part of the structure, especially given the company's strategy around property ownership and divestiture. While the gross profit margin for Q3 2025 was high at 84.81%, this doesn't account for fixed asset costs.

The balance sheet reflects significant asset backing for liabilities. As of the end of the third quarter, approximately 62.2% of the total debt was secured by real estate. The company is actively managing its property portfolio, with plans to divest assets valued around $34 million.

• Properties under contract for sale: combined total of approximately $16.4 million.
• Debt on those properties under contract: $7.3 million.
• Other clubs and non-income producing properties actively marketed: estimated value of $17.4 million.
• Debt on actively marketed properties: $9.0 million.

High cost of goods sold (COGS) for alcoholic beverages and food is a variable cost, though the gross margin remains strong. Looking at the first quarter of fiscal year 2025 (ending December 31, 2024), the COGS was $9.5 million. This represented 13.3% of the total revenues for that quarter, which was an improvement from 14.0% in the prior year period.

Labor costs for entertainers, waitstaff, security, and management are substantial, given the service-intensive nature of the business. For the first quarter of fiscal 2025, salaries and wages saw a decrease of $768,000, which was a 3.6% reduction year-over-year.

Expense Category Detail	Financial Metric	Amount/Percentage	Period Reference
Salaries and Wages Change	Decrease	$768,000	Q1 FY2025 vs Prior Year
Salaries and Wages Change	Percentage Decrease	3.6%	Q1 FY2025 vs Prior Year
Cost of Goods Sold	Amount	$9.5 million	Q1 FY2025
Cost of Goods Sold	As Percentage of Revenue	13.3%	Q1 FY2025

Debt servicing costs on total debt of approximately $241.3 million are a fixed financial obligation. As of June 30, 2025 (Q3 2025), the total debt stood at $241.3 million. The weighted average interest rate on this debt was 6.68% at the end of the third quarter.

Increased corporate overhead due to insurance reserve accruals is a notable non-cash expense impacting reported earnings. Management highlighted challenges with self-insurance due to high insurance costs. Year-to-date (as of Q3 2025 earnings), $9.4 million has been reserved for these non-cash self-insurance actuarial reserves. Selling, general, and administrative (SG&A) expenses increased by $1.0 million in Q1 2025 compared to the prior year.

Here's a quick look at the debt profile as of Q3 2025:

• Total Debt: Approximately $241.3 million.
• Weighted Average Interest Rate: 6.68%.
• Debt Secured by Real Estate: Approximately 62.2%.
• Debt Due in 2025: Just $7.5 million.

RCI Hospitality Holdings, Inc. (RICK) - Canvas Business Model: Revenue Streams

You're looking at the core ways RCI Hospitality Holdings, Inc. (RICK) brings in cash across its two main operating segments as of late 2025. Honestly, the revenue picture is dominated by the Nightclubs, with the Bombshells restaurant concept playing a smaller, strategically evolving role.

The primary revenue streams are detailed below, focusing on the most recent full-year and quarterly figures available.

• Nightclubs segment sales: approximately $240.8 million in FY2025
• Bombshells segment sales: approximately $35.8 million in FY2025
• Sales of alcoholic beverages: approximately 43.26% of Q3 2025 total revenue
• Service revenues (cover charges, dance fees, room rentals): approximately 35.38% of Q3 2025 total revenue
• Other revenues, including ATM commissions and third-party rents

For clarity on the segment sales performance for the full fiscal year 2025, here's a quick look at the top-line numbers:

Revenue Source	FY2025 Total Sales (in Millions)	Year-over-Year Change (FY2025 vs FY2024)
Nightclubs	$240.8	-0.6%
Bombshells	$35.8	-29.2%
Combined Club & Restaurant Sales	$276.6	-5.5%

It's important to note that the Nightclubs segment's revenue mix is heavily weighted toward high-margin items. For instance, in Q3 2025, alcoholic beverage sales within the Nightclubs mix saw a year-over-year change of -3.9%, while service revenue saw a modest increase of +0.3% versus Q3 2024. Service revenues are definitely the highest margin revenue stream for RCI Hospitality Holdings, Inc..

The segment sales figures above exclude non-core operations, which is where you find those other smaller revenue generators like ATM commissions and third-party rents. Finance: draft 13-week cash view by Friday.