SAN DIEGO, CA - (Marketwired - Nov 21, 2017) - Generation NEXT Franchise Brands, Inc. (OTCQB: VEND) announced today that it has completed an exclusive territory franchise agreement within Philadelphia for its frozen yogurt vending concept, Reis & Irvy's. The Philadelphia agreement and exclusive territory rights will be overseen by current Reis & Irvy's franchisees, Peter and Stuart Shapiro of Robotic Desserts, LLC. The agreement, which contains a minimum of 84 Reis & Irvy's "Froyo Robots" over the next five years will also represent the most units managed by a single franchisee since the brand launched in early April 2016 and represents a total contract value of $4,098,000 for Generation NEXT Franchise Brands (parent to the Reis & Irvy's concept).
The high-tech robotic vending machines, which will dispense servings of frozen yogurt, ice creams and sorbets, topped with six delicious toppings in under 60 seconds, have seen tremendous response from the market. Since its debut, Reis & Irvy's has grown to approximately 200 franchisees within both national and international markets, and represents over 850 pending robot installations. The popularity of the Froyo Robots has expanded exponentially since both current and prospective franchisees were able to view the completed units earlier this month. That excitement is now spilling into the marketplace, sparking interest and demand from entrepreneurs everywhere looking to become part of the newest innovation in on-demand vending robotics.
The Shapiros (brothers in business and both natives to PA) are certainly not newcomers to the Reis & Irvy's concept. In fact, the brothers were one of the first franchises welcomed into the Reis & Irvy's family when the brand was first launched in 2016. Both Peter and his brother Stuart anticipate purchasing a total of 100 (16 ordered and 84 more pending purchase objectives are met) Froyo Robots over the next 5 years, ensuring the Reis & Irvy's brand will have a substantial footprint within the Philly market.
"My brother Stuart and I saw the vision and the potential for this concept since its early debut last year and knew this was the right opportunity for us and for the marketplace here in Philly," said Peter. "We not only wanted to be Reis & Irvy's franchisees, but we wanted to make a much larger splash than just a few robots. Our goal and objective was to inject a fleet of these amazing machines throughout this market and bring visibility and more importantly, accessibility to a consumer market hungry for something unique. We're thrilled to now be putting it in motion."
Robotic Desserts LLC, will serve as an exclusive Franchisee, distributor and operator of Reis & Irvy's Froyo Robots within Philadelphia through the end of 2022. The agreement, if executed fully, is worth approximately $4,098,000 to Generation NEXT Franchise Brands and states that the group will purchase a minimum number of 84 units within the 5-year term and will represent the frozen yogurt/ice cream robot technology within its respective territory using the Reis & Irvy's brand (www.reisandirvys.com).
"These guys are the crème 'de la crème of franchisees, enthusiastic, motivated, hard working and full of initiative," said Nick Yates, Chairman of Generation NEXT Franchise Brands. "We just spent a couple days with both Peter and Stuart in our first franchisee training and they filled the room (along with 20 other franchisees) with so much positive and contagious energy. We are thrilled to have them representing us in Philadelphia exclusively."
For more information on Generation NEXT Franchise Brands or their family of brands, including Reis & Irvy's, please visit www.gennextbrands.com or call toll free 888-902-7558.
This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. No Reis & Irvy's franchises will be sold to any resident of any state until the offering has been exempted from the requirements of, or duly registered in and declared effective by, such state and the required FDD (if any) has been delivered to the prospective franchisee before the sale in compliance with applicable law. Currently, the following states in the United States regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you reside in one of these states, or even if you reside elsewhere, you may have certain rights under applicable franchise laws or regulations.
Generation NEXT Franchise Brands, based in San Diego, California, is a publicly traded company on the OTC Markets trading under the symbol: VEND. Generation NEXT Franchise Brands is parent company to Fresh Healthy Vending LLC, the market's leading healthy-choice vending machine franchise, Reis and Irvy's, Inc., the world's first robotic frozen yogurt vending robot, 19 Degrees, a corporate-focused frozen yogurt robot brand and Generation NEXT Vending Robots, our newly established owner/operator model. The Company has sold over 600 franchises throughout the United States, Canada, Puerto Rico and the Bahamas, and continually looks to partner with like-minded entrepreneurs who share its vision.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among others, statements concerning our future financial performance, including statements regarding our manufacturer's ability to maintain the production schedule for our Froyo Robots and our ability to timely launch delivery of our Froyo Robots. The Company bases these forward-looking statements on its current expectations, estimates and projections about future events and the industry in which it operates using information currently available to it. Actual results could differ materially from those discussed in, or implied by, these forward-looking statements. Forward-looking statements are identified by words such as "believe," "anticipate," "propose," "expect," "intend," "plan," "will," "may," "estimates," variations of such words and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. Factors that could cause actual results to differ from those implied by the forward-looking statements contained in this press release are set forth in our fillings with the Securities and Exchange Commission (SEC), including our most recent Annual Report on Form 10-K for the year ended June 30, 2017, our Quarterly Reports, and our Current Reports on Form 8-K. Be advised that developments subsequent to this press release are likely to cause these statements to become outdated and the Company is under no obligation (and expressly disclaims any such obligation) to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
Generation NEXT Franchise Brands
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