Combined with Recent Columbus and Cincinnati Expansion, the Agreement Brings the Total to $17 Million in Master Franchise Contracts in Ohio Alone
SAN DIEGO, CA, Aug. 30, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE - Generation NEXT Franchise Brands, Inc. (OTCQB: VEND) announced today that its flagship subsidiary, Reis & Irvy’s, has signed an exclusive agreement with master franchise rights for the robot-staffed frozen yogurt and ice cream chain in greater Dayton, Ohio, home to nearly one million people. The $3.2 million, exclusive territory deal includes 12 initial Reis & Irvy’s robotic vending robot kiosks along with an agreement and letter of intent for an additional 63 kiosks throughout the metro area as part of an agreement that secures the group’s exclusive rights to the greater Dayton area.
Metro Dayton is home to the University of Dayton, Wright State University, the National Museum of the United States Air Force at Wright-Patterson Air Force Base, the National Aviation Hall of Fame, and Dayton International Airport, which offers service to 21 markets through 10 airlines, serving 2.9 million passengers annually.
Jason Clock, the Dayton master franchisee, was originally attracted to the simplicity of the Reis & Irvy’s business model and the disruptive technology behind the company: “It’s not every day that a business opportunity comes along to get on the ground floor of a truly innovative technology. Once we experienced the Reis and Irvy’s robot in action and tasted a robot-served yogurt for ourselves, we jumped on the opportunity to secure exclusive rights to the Dayton metro area. This technology will be a game changer. With Dayton being a city of innovation for decades, we know it will be a success here. We are truly excited to bring this technology to our hometown.”
An Expanding Footprint in Ohio
Combined with recent exclusive agreements in Cincinnati and Columbus, Generation NEXT Franchise Brands, Inc. has secured $17 million in franchise agreements in Ohio alone:
Greater Cincinnati On August 6th, 2018 the Company announced an $8.5 million, exclusive territory deal that includes contracts for 18 initial Reis & Irvy’s robotic vending kiosks along with an agreement and letter of intent for an additional 182 kiosks (200 total) throughout the metro area as part of an agreement that secures the group’s exclusive rights to the greater Cincinnati area.
According to the federal Bureau of Economic Analysis, Cincinnati is the fastest growing economic power in the Midwestern United States. The region provides a host of premiere location opportunities. Cincinnati is the home to the University of Cincinnati and three major sports franchises, including the Reds (MBL), Bengals (NFL) and FC Cincinnati (MLS in 2019).
Gregg Wilhelm, the Cincinnati master franchisee, was originally attracted to the simplicity of the Reis & Irvy’s business model: “There’s nothing quite like running your own business — it’s simultaneously rewarding, exhilarating and challenging. Reis & Irvys’ innovative franchise concept provides an opportunity to create great cash flow and to almost entirely eliminate overhead; this kind of flexibility is appealing. We are looking forward to a long and prosperous relationship with the folks at Reis & Irvy’s.”
Greater Columbus
On July 17, 2018 the Company announced a $4.2 million, exclusive territory deal covering the greater Columbus metro area. Ohio-based franchisee Ken Green, one of a group of private investors who will operate under the name Reis & Irvy’s Columbus, believes Columbus, the largest city in Ohio, as well as the home of Ohio State University, is the perfect place to launch such a venture: “We originally committed to 12 robots in Columbus, but after seeing the robot in action and tasting the yogurt, we knew we wanted to go bigger. The Reis & Irvy’s robot is a winner in so many ways – fun and entertaining, creative and disruptive, and supported by the partnership of Generation NEXT’s incredible team. Columbus is known as a food service test market and home to many food startups, and we are excited to bring this innovative new concept to our hometown!”
The $4.2 million, exclusive territory deal includes contracts for 18 initial Reis & Irvy’s robotic vending kiosks along with an agreement and letter of intent for an additional 81 kiosks throughout the metro area as part of an agreement that secures the group’s exclusive rights to the greater Columbus area, the fourteenth largest city in the United States, home to 2.1 million people.
Reis & Irvy’s: Franchise Expansion Highlights:
Since its debut, Reis & Irvy’s has grown to over 270 franchisees across the U.S. and represents over 1,375 pending robot installations aggregating approximately $57 million, with additional contract commitments for over 3,150 robots worth an estimated $126 million ($183 million in total) in potential future revenues for Generation NEXT Franchise Brands, Inc. One of the company’s more high-profile franchisees, PGA Championship golfer Phil Mickelson, announced an interest in the company, signing a contract in June to deploy 30 Reis & Irvy’s locations in Southern California.
With $183 million in franchise and licensing contracts, Generation NEXT Franchise Brands, Inc. (OTCQB: VEND) is leading the way with frozen desserts, fully autonomous robotic delivery, visual and audio entertainment, and a unique retail experience. The robots also accept cash, credit cards, Apple Pay and Google Wallet, and the company is working on accepting cryptocurrencies such as Bitcoin for payment in the near future.
For more information, visit the Reis & Irvy’s website at www.reisandirvys.com or call Toll-Free (888) 902-7558. Generation NEXT Website: www.gennextbrands.com
About Generation NEXT Franchise Brands, Inc.
Generation NEXT Franchise Brands, Inc., based in San Diego, California, is a publicly traded company on the OTC Markets trading under the symbol OTCBB:VEND. Generation NEXT Franchise Brands, Inc. is parent company to Reis and Irvy's, Inc and Generation NEXT Vending Robots.
About Reis & Irvy’s, Inc.
Reis & Irvy’s, Inc. is a subsidiary franchise concept of Generation NEXT Franchise Brands, Inc. (VEND). Launched in early 2016, the revolutionary Reis & Irvy’s Vending Robot serves seven different flavors of frozen yogurt, ice cream, sorbets and gelatos, a choice of up to six custom toppings and to customers within 60 seconds or less at the point of sale. The unique franchise opportunity has since established itself as a high-demand product and currently showcases a franchise network both domestically as well as internationally.
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. Cautionary note on forward-looking statements 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 ability to generate revenue and recognize deferred revenue; our ability to timely launch delivery and installation of our frozen yogurt robots; and our ability to grow our franchising and licensing divisions and launch our corporate-owned and direct sales platforms. 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 filings 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.