02 Apr Investing in People
David Li, Vice President, Twin Point Capital
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Hello from your new Flix Entertainment partners at Twin Point! As you may have heard, Flix and Twin Point Capital recently teamed up to accelerate Flix’s goal to be the premier cinema dining concept in the country. At Twin Point, we have tremendous confidence in Flix and believe that with continued hard work and know-how on the part of Flix team members, together with our capital and experience, the sky is the limit!
We know many of you are not familiar with us and we’re sure you have many questions about who we are and what our investment in Flix means to all who work at or with Flix Brewhouse. Hopefully we can answer a lot of those questions today.
Who We Are and How We Do it
Twin Point and its principals have been investing in media and entertainment businesses for over 20 years. We have created many innovative, market-leading companies that have achieved enormous success and created thousands of new jobs.
Our mission is to find great businesses, in attractive industries, with the best management teams. We use a highly rigorous and selective investment process (ask the Flix management team about it). We examine all aspects of every business we consider partnering with, identifying every “award winning beer” and “every chewed-up piece of gum under the seat” before we make an investment. We are pleased to report that Flix passed the test with flying colors (really good beer and no chewing gum to report)!
Why We Like Flix
Beyond the beer and cleanliness, here’s how we see it:
Vision: Flix is a unique concept. It is much more than just cinema dining. What separates Flix from other movie theaters (including other dine-in cinemas) is its commitment to providing excellence across the entirety of its stores. And it is not just a garden-variety commitment. It is a belief system. Our goal is to work with Flix to build the finest theaters, in great locations, with the best people. Flix’s “religion” of great food, superior service and award-winning, high quality craft beer results in an entertainment experience that is impossible to find anywhere else in the world (unless you B.Y.O.B. – not typically allowed).
Guest-First Culture — In today’s technology-enabled world, a feature length movie can be viewed from the comfort of home by pushing a button. People today expect more from their out-of-home entertainment. They want a great experience that cannot be reproduced at home and superior service. Flix delivers in this regard. We talked to Flix guests and found that they are deeply loyal and highly satisfied with the company’s offerings. Flix is more than a night at the movies and more than a restaurant – it is a premium entertainment experience at a great value. Guest satisfaction at Flix is second to none and we are excited to support this great team as it in turn supports our highly appreciated and valued guests.
Team: We have a saying at Twin Point, “Without our employees, the only thing we would own is a bunch of used equipment.” No matter how much money we put into 4k projectors, fancy lights and sound, and state-of-the-art kitchens, the ultimate asset of each business we invest in, is its management and employees. From the start, we’ve been thoroughly impressed by the Flix team. We learned that “Flixians” are incredibly capable, dedicated, and passionate about the company and its customers.
What Happens Next?
Once we make an investment that is where the fun begins. Twin Point works closely with our management teams, providing them with:
Funds – our investment will allow Flix to potentially expand into dozens new locations in the United States, maybe beyond.
Counsel – we have been “around the block” many times. Our companies have an outstanding track record of providing superb products and world-class customer service. In fact, a few of our companies have won JD Powers awards for outstanding service.
Family and Culture – Twin Point works hard with its family of companies to ensure that they are great places to work and that every member of the team is respected and appreciated. Best ideas always win in our culture!
What we ask of Flix team members going forward is that they continue to bleed Flix gold, put Guests First, be passionate each and every day and, most importantly, have fun. The team culture at Flix is infectious and guests really do sense and appreciate the difference. Also, we don’t think that good ideas are the exclusive domain of management and their stuffy boards. Our experience is that in great organizations, the best ideas come from everywhere. If you have a good idea, we want you to share it!
The Road Ahead
We’re tremendously excited to be a part of the Flix journey and are looking forward to launching three new stores this year and ramping up to even more new stores in the years to come. Together, we know that Flix will further establish itself as the gold standard in cinema dining and will delight its guests (and investors) for years to come.
For those of you who work at or with Flix, we thank you all in advance for your contribution to our collective future success.
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