The Agreement Includes the Purchase of 12 Robotic Vending Kiosks Upfront with Commitments to Buy an Additional 6 Units
SAN DIEGO, CA, Sept. 27, 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 franchise agreement for the robot-staffed frozen yogurt and ice cream chain in Little Rock, AR, the capital and most populous city of Arkansas.
Little Rock
The $546,750, exclusive territory deal includes contracts for 12 initial Reis & Irvy’s locations along with an agreement and letter of intent for an additional 6 locations (18 total) throughout the area as part of an agreement that secures the group’s exclusive rights to Little Rock.
Little Rock is a cultural, economic, government, and transportation center within Arkansas and the South. Several cultural institutions are in Little Rock, such as the Arkansas Arts Center, the Arkansas Repertory Theatre and the Arkansas Symphony Orchestra. The city is the headquarters of Dillard's, Windstream Communications, Acxiom, Stephens Inc., University of Arkansas for Medical Sciences, Heifer International and the Clinton Foundation. Other large corporations, such as Dassault Falcon Jet and LM Wind Power have large operations in the city. State government is a large employer, with many offices being in downtown Little Rock.
Doug and Amy Cahill along with Tim Howell have partnered to become Little Rock’s exclusive Reis & Irvy’s franchisees. The Cahills were originally introduced to Reis & Irvy’s by Howell, already a Houston, TX-based Reis & Irvy’s franchisee as well as a lifelong friend and fellow Arkansas native.
Mr. Cahill, who has worked as a financial advisor for Edward Jones for 24 years, and Dr. Cahill, an OB/GYN physician, said they were attracted to the “mostly hands off” nature of the Reis & Irvy’s business, which doesn’t require employees.
Together, the Cahills and Tim Howell decided to become equal partners in an exclusive Reis & Irvy’s franchise in Little Rock. “I felt this was a great way to come together with my lifelong friends and do business in the place where I’m from with a company and product I believe in as an existing franchisee here in Houston,” Howell said.
“The team at Reis & Irvy’s are super friendly people, they have a willingness to teach us what we need to know, in a very Southern, friendly manner, and that’s what we’re used to, having lived in central Arkansas all our lives. Most importantly, we really believe in the revolutionary technology and the quality of the product. Kids really love it, but we see this working almost anywhere, from hospitals to universities and much more. And speaking of kids, our kids couldn’t be more excited about the opportunity Reis & Irvy’s may provide for them one day,” Mr. Cahill said.
“We couldn’t be happier to welcome Doug and Amy to the Reis & Irvy’s family, and to help them bring Reis & Irvy’s to the amazingly friendly, tight knit communities of Little Rock and central Arkansas. Tim, Doug and Amy told our team that more than anything, they are looking forward to putting smiles on peoples’ faces - and we couldn’t agree more!” said Nick Yates, Chairman of Generation Next Franchise Brands.
Reis & Irvy’s: Franchise Expansion Highlights:
Since its debut, Reis & Irvy’s has grown to over 280 franchisees across the U.S. and represents over 1,400 pending robot installations aggregating approximately $60 million, with additional contract commitments for over 3,200 robots worth an estimated $129 million ($189 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 $189 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.
An Industry Disruptor
Generation Next Franchise Brands, Inc. (OTCQB: VEND) is the developer of the world's first fully-automated robotic frozen dessert vending kiosk designed to disrupt brick-and-mortar competitors. Reis & Irvy’s unattended robots eliminate the need for costly rents and employees; significantly reduce food safety concerns; and are capable of operating 24-hours a day.
Reis & Irvy’s-branded signature robot characters of the same name can dispense servings of frozen yogurt, ice cream, gelato and sorbet topped with a selection of six delicious toppings in under 60 seconds. With self-checkout touch screen ordering and payment options, video animation, music and delicious frozen dessert provided exclusively by Dannon, robot vendors meet consumers’ demand for immediate convenience, entertainment and a superior quality product - be it in shopping malls, medical centers and any other high-traffic area.
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.