BAB, Inc. Announces Franchise in Development for New Concept
DEERFIELD, Ill. - June 3, 2013 - (BUSINESS WIRE) - BAB, Inc. (OTCBB: BABB), announced the launch of BAB’s first SweetDuet Frozen Yogurt & Gourmet Muffins® unit, now under development in Kalamazoo, Michigan. Victoria Enterprises, Inc., a Big Apple Bagels franchisee since 2008, is the first franchisee for BAB’s new brand which pairs the popular self-serve frozen yogurt concept with BAB’s exclusive My Favorite Muffin® proprietary gourmet muffins and muffin gift baskets, accompanied by a breakfast selection which includes a fresh yogurt and oatmeal bar, hot breakfast sandwiches and BAB’s Brewster’s® Coffee. States Doug Victoria, owner of Victoria Enterprises, Inc., “My team and I are tremendously proud and excited to work with our Franchisor on the first SweetDuet franchise. We believe the multiple product offerings differentiate SweetDuet from the other frozen yogurt concepts and gives this brand staying power. We know the opportunity presented in our unit will excite potential new franchisees.”
Michael W. Evans, President and CEO of BAB said, “As we develop SweetDuet, our focus on the Big Apple Bagels and My Favorite Muffin franchise concepts will continue with renewed vigor. We expect there to be certain synergies and practices with the new concept that will benefit all our brands. We have spent the earlier part of the year working on all the elements necessary to build a new brand, from trademark registrations and franchise disclosure approvals to prototype design and product sourcing. This process is costly, as was demonstrated in our First Quarter results which were down compared to the same quarter of 2012.” Evans, who is the Company’s largest shareholder, went on to say, “That is why, effective immediately we are implementing a 19% reduction in executive compensation compared to the previous fiscal year. Our management team is taking voluntary salary reductions intended to help offset our development costs, which reflects the level of our personal commitment to the new concept, our franchisees and our stockholders.”
About BAB, Inc.
BAB, Inc. franchises and licenses Big Apple Bagels®, My Favorite Muffin® SweetDuet Frozen Yogurt & Gourmet Muffins® and Brewster’s® Coffee. The Company’s stock is traded on the OTCBB under the symbol BABB and its web site can be visited at www.babcorp.com.
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.
Michael K. Murtaugh
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