Global Unit Increases Royalty Revenues by 39%
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Franchise Royalties Jump at Postal Connections in First Seven Months Over 2003 Beverly Hills, CA—August 30, 2004—Global Business Services, Inc.'s (OTCBB: GBNS) subsidiary, Postal Connections of America (PCA), a rapidly growing network of franchise postal, business and communication services stores, reports 39.3% increase in royalty collections from franchise units during the first seven months of 2004 over the same period in 2003. The franchiser receives a combination of fixed monthly fees and 4% of gross sales in royalties from franchise stores. "Royalties continue to move up due to maturing of our stores that have been doing business for more than a year and we continue to add new stores at a rapid pace," says Andy Thompson, Vice President, PCA. "We expect to see a steady increase in royalty revenues for months to come since we are adding 20% more stores to our network in 2004," says Thompson. Currently, the PCA retail network consists of 70 franchisee stores open or sold in 21 states. In the first seven months of 2004 PCA collected $101,000 in royalty revenues with first quarter royalties jumping 43.5%, second quarter up 40.8%, and in July, normally a slow month, royalties increased 29% over the same month last year. PCA franchise stores provide shipping, packaging, copying, mail receiving and other services needed by small office/home office businesses and busy consumers offering them convenience and an alternative to the Post Office. Global Business Services, Inc. is headquartered in Beverly Hills, CA, its subsidiary, Postal Connections of America, is based in San Diego, and has been franchising stores since 1999. Forward-looking statements contained herein are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may be materially different. Factors that could cause actual results to differ include activity levels in the securities markets and other risk factors such as the ability of the Company to meet its working capital needs, the ability of the Company to successfully market its goods and services, and other risks detailed in the Company's periodic filings with the Securities and Exchange Commission. ### Source:postalconnections.com |
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