BAB, Inc. Announces New Growth Strategy
DEERFIELD, Ill.--(BUSINESS WIRE)--BAB, Inc. (OTCBB:BABB) announced that it has granted its first agreement within the Company's new Development Agent program which was launched to facilitate growth of BAB's franchise concepts, Big Apple Bagels, BABS' Deli, My Favorite Muffin, Big Apple Bagels Xpress and My Favorite Muffin Xpress. The agreement, for development throughout the State of Colorado, is with ABBRA 4, LLC, owned by BAB franchisees Eric Abbott and Mark Rank who have owned and operated two My Favorite Muffin stores in the Denver, Colorado market since 1995.
The Development Agent's duties under the Agreement will include the recruitment of new franchise owners, assistance to franchisees in site selection and store development, and providing franchise owners with ongoing operational support. As compensation, the Development Agent will receive a portion of the franchise fees and royalties collected from the stores they establish in their designated territory.
Anthony Cervini, Director of Development states, "We are very excited to appoint Eric and Mark as our first Development Agents. They have been excellent franchisees for many years and have established a loyal customer base in the Denver market. They have the business acumen and desire to grow our brand in the market, so they are ideal spokespeople for our franchise. We will continue to look for qualified candidates to act as Development Agents to help stimulate growth in different markets throughout the country."
According to Eric Abbott, partner in ABBRA, "We are honored and excited to be entering into this Agreement with a franchise that has been so good to us and for us. Thirteen years ago, we both left corporate jobs with large companies to start our first My Favorite Muffin store in Colorado. It's been a wonderful and rewarding experience, and now we will be able to help provide the same opportunities for others."
BAB, Inc. operates, franchises, and licenses Big Apple Bagels®, My Favorite Muffin® Jacobs Bros. Bagels® and Brewster's® Coffee. The Company's stock is traded on the OTCBB under the symbol BABB.
Certain statements in this press release constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast," "estimate," "project," "intend," "expect," "should," "would," "believe" and similar expressions and all statements which are not historical facts are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause the company's actual results, performance (financial or operating), or achievements to differ from the future results, performance (financial or operating), or achievements expressed or implied by such forward-looking statements. The above factors are more fully discussed in the company's SEC filings.