Reis & Irvy’s Announces 90-day Sales In Excess Of 100,000 Cups Of Frozen Yogurt From Its Recent Field Results
In the last 90 days, the company has sold over 100,000 cups at an average price of $4.61 per cup, worth an estimated $461,000 in receipts for its franchisees.
SAN DIEGO, - Dec. 19, 2018 // GLOBE NEWSWIRE // - Generation Next Franchise Brands (OTCBB – VEND) announced today results from its field sales designed to improve overall kiosk performance, determine consumer pricing habits and identify the best performing location categories.
The company is pleased to announce that it can report the following:
- Cups sold for an average of $4.61 exceeding initial franchise expectations;
- Hospitals, Museums, Malls, Family Fun Centers, High Schools and Universities were the best performing location categories;
- The month’s top five performing kiosks were located in cold weather climates suggesting sales performance is non-seasonal;
- Thermal hardware and software upgrades resulted in higher week over week average sales per unit;
- The recent and successful introduction of promotional code software resulted in an increase in repeat customers; and
- 61% of transactions were made with debit/credit cards versus cash.
“We are encouraged by the increased productivity and strong sales across multiple location categories resulting from the improved design of this kiosk,” said Nick Yates, CEO of Generation Next Franchise Brands. “After a challenging initial rollout that required us to make multiple design enhancements and software upgrades, the company has achieved over 100,000 vends in a 90-day period. We feel well positioned to get back on-track in 2019.”
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 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 an earnings statement and 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.
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, 2018, 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.
SOURCE Generation NEXT Franchise Brands, Inc.