SAN DIEGO, CA, April 11, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Generation NEXT Franchise Brands, Inc. (OTCQB: VEND) announced today that its flagship subsidiary and premium, robotic soft serve franchise, Reis & Irvy’s, sold its 300,000th cup of frozen yogurt on Thursday, April 4th.
In light of this most recent milestone, the company shared some insights into its recent and ongoing efforts to improve key performance indicators (KPIs) for the Reis & Irvy’s kiosk network, particularly Sales per Kiosk, or ‘SPK’ as referred to by the Company, as well as Kiosk Uptime and Availability, or ‘KUA’.
“Our first nine months of operating Reis & Irvy’s robots, from July last year through March this year, have been a wild ride but our company and our ecosystem have been constantly learning along the way,” said Nick Yates, CEO of Generation Next. “I have talked extensively about the improvements made to our technology from the initial alpha units to the current mass production kiosks. During the same time, we have been getting smarter about how to identify the best locations and develop our owner-operators as well.”
In January, just 19 Reis & Irvy’s kiosks operating in the United States completed the entire month (defined as 7 days per week for 4 weeks, or 28 consecutive days) without an issue that affected Uptime or Availability (KUA). By the end of March, that number had more than doubled to 48 kiosks, the company reports. It is also important to note that many locations secured by the company only operate 5-days per week.
The company said that improvements in the crucial KUA metric are the result of hardware upgrades and retrofits of earlier alpha units; newly manufactured robots benefiting from improved engineering and manufacturing changes; as well as recent firmware and software updates that have been released across the Reis & Irvy’s kiosk network.
In addition to uptime and availability (KUA), the Company also continuously monitors Sales Per Kiosk (SPK) and executes initiatives to improve this key metric. Among the same group of locations operating for 28 consecutive days, SPK increased by 13.5% percent, from $2,606 in January to $2,960 in March.
