New Franchise - if you haven't already visited the Generation Next recently redesigned website, it's referenced at the end of the article: www.gennextbrands.com
Reis & Irvy's, Robot-Staffed Frozen Yogurt and Ice Cream Chain, Inks $3.2 Million Master Franchise Agreement in Dayton, Ohio
BY GlobeNewswire
— 8:08 AM ET 08/30/2018
Combined with Recent Columbus and Cincinnati Expansion, the Agreement Brings the Total to $17 Million in Master Franchise Contracts in Ohio Alone
SAN DIEGO, CA, Aug. 30, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -
Generation NEXT Franchise Brands, Inc. ( VEND) announced today that its flagship subsidiary, Reis & Irvy’s, has signed an exclusive agreement with master franchise rights for the robot-staffed frozen yogurt and ice cream chain in greater Dayton, Ohio, home to nearly one million people. The $3.2 million, exclusive territory deal includes 12 initial Reis & Irvy’s robotic vending robot kiosks along with an agreement and letter of intent for an additional 63 kiosks throughout the metro area as part of an agreement that secures the group’s exclusive rights to the greater Dayton area.
Metro Dayton is home to the University of Dayton, Wright State University, the National Museum of the United States Air Force at Wright-Patterson Air Force Base, the National Aviation Hall of Fame, and Dayton International Airport, which offers service to 21 markets through 10 airlines, serving 2.9 million passengers annually.
Jason Clock, the Dayton master franchisee, was originally attracted to the simplicity of the Reis & Irvy’s business model and the disruptive technology behind the company: “It’s not every day that a business opportunity comes along to get on the ground floor of a truly innovative technology. Once we experienced the Reis and Irvy’s robot in action and tasted a robot-served yogurt for ourselves, we jumped on the opportunity to secure exclusive rights to the Dayton metro area. This technology will be a game changer. With Dayton being a city of innovation for decades, we know it will be a success here. We are truly excited to bring this technology to our hometown.”
An Expanding Footprint in Ohio
Combined with recent exclusive agreements in Cincinnati and Columbus, Generation NEXT Franchise Brands, Inc. ( VEND) has secured $17 million in franchise agreements in Ohio alone:
Greater Cincinnati
On August 6th, 2018 the Company announced an $8.5 million, exclusive territory deal that includes contracts for 18 initial Reis & Irvy’s robotic vending kiosks along with an agreement and letter of intent for an additional 182 kiosks (200 total) throughout the metro area as part of an agreement that secures the group’s exclusive rights to the greater Cincinnati area.
According to the federal Bureau of Economic Analysis, Cincinnati is the fastest growing economic power in the Midwestern United States. The region provides a host of premiere location opportunities. Cincinnati is the home to the University of Cincinnati and three major sports franchises, including the Reds (MBL), Bengals (NFL) and FC Cincinnati (MLS in 2019).
Gregg Wilhelm, the Cincinnati master franchisee, was originally attracted to the simplicity of the Reis & Irvy’s business model: “There’s nothing quite like running your own business — it’s simultaneously rewarding, exhilarating and challenging. Reis & Irvys’ innovative franchise concept provides an opportunity to create great cash flow and to almost entirely eliminate overhead; this kind of flexibility is appealing. We are looking forward to a long and prosperous relationship with the folks at Reis & Irvy’s.”
Greater Columbus
On July 17, 2018 the Company announced a $4.2 million, exclusive territory deal covering the greater Columbus metro area. 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 $4.2 million, exclusive territory deal includes contracts for 18 initial Reis & Irvy’s robotic vending kiosks along with an agreement and letter of intent for an additional 81 kiosks 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 270 franchisees across the U.S. and represents over 1,375 pending robot installations aggregating approximately $57 million, with additional contract commitments for over 3,150 robots worth an estimated $126 million ($183 million in total) in potential future revenues for Generation NEXT Franchise Brands, Inc. ( VEND)
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 $183 million in franchise and licensing contracts, Generation NEXT Franchise Brands, Inc. ( 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.
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
