Generation Next Inks $5M Reis & Irvy's Master Franchise Agreement In Utah

Posted On: 2/12/2019

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SALT LAKE CITY, UT -- Generation Next Franchise Brands Inc. said it has signed an exclusive franchise agreement for its Reis & Irvy's frozen yogurt and ice cream vending machines in Utah's Salt Lake County and Utah County.
The $5 million exclusive territory contract reportedly includes the upfront purchase of 23 kiosks for $1.15 million along with contract commitments to purchase an additional 77 kiosks (100 in total). Combined, the exclusive territory represents a population of more than 1.6 million people in Utah's largest metro area.
In addition to his new venture as Reis & Irvy's exclusive franchisee for Utah's Salt Lake and Utah counties, Jason Olson is president of a mechanical contracting company.
"More concentrated ownership of Reis & Irvy's robots and franchisees with larger footprints makes a lot of sense to us at the head office. We can work closely with these franchisees and their teams to build long-term relationships with location partners throughout each community they represent," said Generation Next Franchise Brands chief executive Nick Yates. He added that the company's network of some 300 exclusive territory franchisees across the U.S. are entrepreneurs with wide-ranging backgrounds, including engineers, software developers, fund managers, sales and marketing professionals and logistics experts.