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Goody Goody was operated by George C. Myers from the 1950's onward. I am not sure how many years the restaurant operated as Goody Goody but it certainly lasted until the 1960's. George passed away in Venice Florida in 2004. I believe Goody Goody was a small franchised chain that operated in those days. There is one or more still operating in Florida for example. This particular one was on White Lake in Whitehall.
The 2019 street view of 212 E Colby shows a Chinese Restaurant (Chen's Chinese and Thai) that could be the original building for Goody Goody. However, that is not right on the lake as Goody Goody is described. 212 W Colby (which actually points you to Thompson St) is closer to the lake but I am not seeing a building that looks like a fit. The Chinese place has the same window layout with the sign in the middle and the same address so I will go with that as being the location for now.