SAN DIEGO, CA, April 03, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Generation NEXT Franchise Brands, Inc. (VEND) announced its monthly report for March today. The report is part of a continued effort to keep all Company stakeholders better informed of key operating metrics.
Key highlights and metrics for March:
Booked 25 new Reis & Irvy’s franchise commitments worth $1.5 million in deferred revenue (averaging $167,768 per franchise sale and $56,168 per robot sold).
Recognized revenue of $1.2 million from 31 installations at an average of $38,000 per robot.
Secured 50 new locations for Reis & Irvy’s kiosks - a new single month record for the company; 7 locations were allocated to the robot investment fund - 19 Degrees Corporate Service LLC.
Added 11 units of 19 Degrees Corporate Service which resulted in collecting $173,514 of investment to be used for the purchase and installation of robots.
As of April 1st, 2019 the Company has sold a total of 61 units of 19 Degrees Corporate Service LLC, resulting in $1.2 million invested.
“We are very pleased with the rate in which we are securing new locations and even more pleased with the quality,” said Nick Yates, the CEO and Founder of Generation Next Franchise Brands (VEND). “We are learning quickly what works and what doesn’t and are putting a lot of effort to ensure the franchisees will benefit from the feedback we receive from every installation, no matter the category. April is set up nicely for a combination of significantly higher franchise sales, new locations procured and most importantly increased installations.
We anticipate installing 60 to 70 units during April which will result in recognizing approximately $2.3 million - $2.7 million in revenue for the month.”
