SAN DIEGO, May 07, 2018 (GLOBE NEWSWIRE) -- Generation NEXT Franchise Brands, Inc. (OTCBB:VEND) announced today that it has completed and secured its fourth international licensing agreement within the territory of Australia. The agreement represents approximately $18 million in robot sales from a minimum 500 robots being placed throughout the territory over the next five years. The company will be licensing its robotic frozen yogurt vending technology and franchise concept, Reis & Irvy’s, to an international business and marketing development specialist with heavy roots in the Australian marketplace.
Late last year, Generation NEXT Franchise Brands launched its international licensing program for the Reis & Irvy’s franchise concept, which itself was launched within the United States in April of 2016. The model allows prospects who are interested in replicating the Reis & Irvy’s model in the U.S., an opportunity to secure an international market exclusively, by purchasing (either for resale or operation) a minimum number of vending robots over a specified period of time.
The high-tech robotic vending machines, which will dispense servings of frozen yogurt, ice cream and sorbet, 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 over 235 franchisees representing approximately 1,100 pending robot installations aggregating approximately $45 million. Furthermore, the Company has contract commitments for an additional 2,300 robots aggregating approximately $88 million.
At the reigns of the Australia initiative will be Troy and Michelle Bingham, who will become ambassadors for the Reis & Irvy’s brand and its expansion within the new market. Together the couple is armed with extensive experience in international business development and global management consulting across the areas of franchising, tourism, modular housing, distribution channels, sporting organizations, customer loyalty, payment and incentive programs. Formerly an accountant with the prestigious firm of Price Waterhouse, Mr. Bingham studied extensively within the US, earning a Bachelor of Science from Gannon University in Pennsylvania, as well as an MBA in International Marketing and Management from Toledo University in Ohio. With an eye for global opportunities, the Bingham’s were looking for a venture that they could not only grow but expand in the future.
“We were looking for a business that could generate annuity income, require minimal time and staff once set up, and was in a sector that we knew we could grow over the next 10-15 years,” said Troy Bingham. “The patented robotics, seamless payment, marketing interactivity, and cloud-based reporting on the supply chain ticked all the boxes. More importantly, the energy, passion and support from the Generation NEXT team to grow a quality brand and product was very exciting to us. We see frozen yogurt as just the first of many other robotic and technology solutions to come.”
Nick Yates, Chairman for Generation NEXT Franchise Brands, was thrilled at the expansion into yet another global market for the revolutionary Froyo Robot…and one very close to home.
“Being an Australian native myself, I am familiar with the similarities between our market here in the U.S. and the market down under,” said Yates, who oversees Generation NEXT’s business ventures from its headquarters in San Diego, California. “The market in Australia loves frozen yogurt and has seen steady growth in consumption over the last five years. We believe our product will find a way to disrupt the retail sector and Troy and Michelle know exactly how to ensure that it happens, which will allow our emerging brand, Reis & Irvy’s, to continue its growth around the globe.”
In addition to its continued expansion into key international markets, Reis & Irvy’s has also strengthened its foundation and offerings by teaming up with some of the world’s largest manufacturing and logistics partners, including Dannon YoCream (www.yocream.com), Stoelting Food Service (www.stoelting.com), who created the very first soft-serve machine for Dairy Queen, and Pitney Bowes (www.pitneybowes.com), who will provide the installation and national servicing. Each of these partners will be making themselves available in Australia and will offer the exact same assortment of services to our new licensees.
For more information on Generation NEXT Franchise Brands (www.gennextbrands.com) or their family of brands, including the revolutionary Reis & Irvy’s frozen yogurt robots, please visit www.reisandirvys.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.
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: 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 kiosk, 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.
About Reis & Irvy’s, Inc.
Reis & Irvy’s, Inc. is a subsidiary franchise concept of Generation NEXT Franchise Brands, Inc. (OTCB:VEND). Launched in early 2016, the revolutionary Reis & Irvy’s Froyo Robot vending machine serves seven different flavors of frozen yogurt, ice cream, sorbets and gelato’s, 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.
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 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.
Media Contact:
Lisa Delaney 949-500-6752
info@gennextbrands.com
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