NEW YORK, July 10, 2018 (GLOBE NEWSWIRE) -- The Wall Street Analyzer recently conducted an interview with Generation Next Franchise Brands’ (OTC:VEND) Chairman Nick Yates, and their CEO Art Budman.
The company’s flagship subsidiary, Reis & Irvy’s, which is a robot staffed frozen yogurt and ice cream vending machine just signed a $21 million master franchise agreement in Atlanta with well known business leader Jennifer Scully’s new company, RoboTreats, LLC. On June 20, 2018, the company announced a business relationship with five-time Major Golf Champion Phil Mickelson and his career-long business manager and business partner Steve Loy as franchisees in San Diego.
Mr. Yates laid out the company’s franchising business model and the opportunity to grow the business, both domestically and internationally, as automation provides a more cost-effective option than traditional brick and mortar.
He also stated the company has about $50 million in deferred revenue, as of the fiscal year ended June 30, 2018, from units they have pre-sold and are now in position to have these units manufactured and installed to recognize the associated revenue.
Mr. Budman added that VEND also collects a 12% recurring revenue royalty once the units are installed, in addition to rebates and software fees.
He also discussed how his background and experience in finance and operations complements Mr. Yates’ sales and marketing background.
Mr. Yates concluded by saying, “We have about $150 million of contracted commitments in one form or another. We are also in the early stages of designing our next vending robot that our patents will protect, allowing us to replicate exactly what we've done here with our frozen yogurt and ice cream product - as far as franchising, licensing and complementing our own corporate operations. So, it's a great time to be a shareholder. The next year will be a lot different to the last and we couldn't be more excited about the fact that we are installing this incredible product.”
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. (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.
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FORWARD LOOKING STATEMENTS
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as VEND or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, such statements in this release that describe the company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, and risk inherent in the operations of a company. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.
Media Contact:
Darren Shuster
Generation NEXT Franchise Brands, Inc.
Phone: (818) 744-1851
Email: darren@popculturepr.com
The Wall Street Analyzer
Juan Costello, Senior Analyst
P: 347-529-5734
jcostello@wallstreetanalyzer.com