Fresh Healthy Vending International, Inc. announces the successful procurement of 101 location contracts in the month of April (an indicator of machine installs in coming months and corresponding revenue recognition) for its franchise network and corporate-owned operations division.
“As a leader in this progressive industry, we attribute a large portion of our growth to the persistent work of our locations department. Securing schools, community centers, after-school programs and other local businesses give our franchisees the ability and freedom to focus on other aspects of their business and not be burdened with seeking out locations on their own,” said Alex Kennedy, CEO of Fresh Healthy Vending International, Inc., in a prepared statement. “Securing 334 locations so far in 2014 is an outstanding accomplishment and in our view is a lot of what sets us apart from our competition. Our commitment to our franchisees starts with securing many high performing locations quickly so that they can hit the ground running.”
In April, Fresh Healthy Vending also sold three new franchises, as well as upsold machines to three existing franchisees, for a total of 43 machines sold in the month; this after the company recorded its best single month of sales in over two years for March 2014. The 43 new machines, representing approximately $442,750 in sales bookings, will increase the company’s national footprint and increase its ability to recognize additional recurring revenues from royalties on new installations.