Reis & Irvy’s Announces $2.295 Million Franchise Contract Within New Orleans
Generation NEXT Franchise Brands
May. 17, 2018
Contract Purchase of 54 Froyo Robots By Local Business Developer Marks Another Territory Expansion for Innovative Vending Technology Concept
SAN DIEGO, CA, May 17, 2018 (GLOBE NEWSWIRE) -- Reis & Irvy’s, Inc. ( www.reisandirvys.com ), a subsidiary franchise concept of Generation NEXT Franchise Brands, Inc. ( www.gennextbrands.com ) (OTCB: VEND), announced the official signing of a franchise agreement today with Big Easy Robotics LLC. Pursuant to the agreement, the New Orleans-based group will purchase 12 robots for an initial purchase price of $510,000. In order to maintain exclusivity as the sole Reis & Irvy’s franchisee throughout the New Orleans area, Big Easy Robotics must purchase an additional 42 robots within the area over the course of the next three years, which would result in approximately $1.785 million in revenue to Generation NEXT Franchise Brands if all purchase objectives are met.
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 and now have a franchise network that spans the United States, as well as internationally in Israel, Oman, Canada and Australia. This latest agreement with Big Easy Robotics is the fourth exclusive territory appointed with previously announced deals across the country including Los Angeles, Orange County and Miami.
The robotic vending machine serves customers seven delicious flavors of frozen yogurt, ice cream, gelato or sorbet and offers a choice of up to six customized toppings. Each serving is created in under 60 seconds and delivered by a multi-axis robotic arm.
“We see the robotic vending experience as the future in the self-serving industry and we are excited about being part of this cutting-edge technology,” said Jay Meral, of Big Easy Robotics. “We saw the opportunity to be a part of something huge that will change the frozen yogurt industry forever and have the ability to be the first in our area. What really helped with the decision to purchase our franchise was the great team of professionals at Generation NEXT and we are extremely excited to get started and provide state of the art and great tasting products that will truly amaze our customers.”
“Our team has already secured multiple location agreements for our new franchise partners within a variety of categories including hotels, corporates, grocery chains, tourist attractions and malls, so we are off to a good start in a fantastic territory filled with opportunity,” said Nick Yates, Chairman of Generation NEXT Franchise Brands. “These guys know the market, have some great contacts and we know they will represent the Reis & Irvy’s brand maximizing its potential.”
For more information on the revolutionary Froyo Robots or to learn more about how you can own your own Reis & Irvy’s Froyo Robot franchise, visit the Reis & Irvy’s website at www.reisandirvys.com or call toll free 888-902-7558. Follow us on Twitter @Reisnirvys, on Facebook @reisandirvys and on Instagram @reisnirvys.
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.
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