Columbus and Oklahoma City are the latest expansion territories that also include Miami, Orange County, Los Angeles and Atlanta
San Diego, CA, July 17, 2018 (GLOBE NEWSWIRE) -- Generation NEXT Franchise Brands, Inc. (OTCQB: VEND) announced today that its flagship subsidiary, Reis & Irvy’s, has signed two agreements with exclusive master franchise rights for the robot-staffed frozen yogurt chain in both Ohio and Oklahoma.
Oklahoma
Kristopher Barlow, convinced of the incredible potential that Reis & Irvy’s disruptive business model presents, has purchased exclusive rights to the Greater Oklahoma City territory. The $5.4 million deal includes contracts for 18 initial Reis & Irvy’s locations along with an agreement and letter of intent for an additional 102 installations throughout the metro area.
The area continues to grow, offering any number of major location opportunities. Oklahoma City is the twenty-seventh largest city in the United States, home to 1.4 million people, the headquarters to Chesapeake Energy Corporation and Devon Energy Corporation, and many corporations with a large presence in the city, including The Hertz Corporation, Farmers Insurance Group, The Boeing Company, American Fidelity Assurance, Cox Communications and others.
“Reis & Irvy’s is an innovative company disrupting a popular market. We are excited to introduce this revolutionary approach of a consumer favorite to the Oklahoma Metro market. The ingenious team at Generation NEXT Franchise Brands, coupled with their cutting-edge technology, robust systems, and extensive market opportunities, will make our partnership a success,” said Barlow. “I’m excited about this partnership and look forward to bringing this opportunity to the thriving Oklahoma Metro area.”
Barlow is an entrepreneurial, results focused, energetic and proven leader with broad experience in upstream Energy & Production (E&P) Supply Chain, Department of Defense (DoD) Contracting with additional experience in Financial Planning and Business Ownership. Actively seeking out investment opportunities that embrace technology, he is currently a partner in a Healthcare Company, SNAP by Salubrious Nurse Practitioners, PLLC that focuses on streamlining the patient experience through integration of software.
“I see the human-less economy taking shape and literally transforming how business is transacted. In order to stay competitive, it simply has to happen,” said Barlow, of Robotic Concepts, LLC. “I’m excited about the concept, I’m excited for Oklahomans and the future ahead. Generation NEXT has a great team in place, they’re all focused on Service before Self and Excellence, two core values dear to me.”
Ohio
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 $4.17 million, exclusive territory deal includes contracts for 18 initial Reis & Irvy’s locations along with an agreement and letter of intent for an additional 81 locations 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 255 franchisees across the U.S. and represents over 1,275 pending robot installations aggregating over $55 million, with additional contract commitments for over 2,900 robots worth an estimated $115 million ($170 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.
For more information, visit the Reis & Irvy’s website at www.reisandirvys.com or call Toll-Free (888) 902-7558.
Generation NEXT Website:
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., the world’s first robotic frozen yogurt vending kiosk, 19 Degrees, a corporate-focused frozen yogurt robot brand and Generation NEXT Vending Robots, its newly established owner/operator model. The Company has sold over 600 franchises throughout the United States, Canada, Australia, Israel, 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. (OTCBB: VEND). Launched in early 2016, the revolutionary Reis & Irvy’s Frozen Yogurt Robot vending machine 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.