06/10 09:16 The General Store Receives UFOC Approval to Franchise Online
Shopping <GSIC.OB>
The General Store Receives UFOC Approval to Franchise Online Shopping Service in the United States
SEATTLE--(BUSINESS WIRE)--June 10, 1999--The General Store International Corp. (OTC BB:GSIC) announced today that the company has received approval of its UFOC (Uniform Franchise Offering Circular) application to the State of Washington.
The UFOC is a detailed disclosure document required by federal and state regulators prior to the establishment of franchises in the United States.
According to The General Store CEO Glen Easthope, the approval of the UFOC is the single most important component needed for The General Store to rollout across the United States.
As an integral part of Phase II of the company's franchise business strategy, The General Store intends initially to offer Area Franchises throughout Washington State. The approval for Washington State also allows The General Store to sell franchises in 32 of the 50 states immediately without further registration or approval. The first US clone of the original control model will be in Seattle, Bellevue, and the surrounding areas.
A franchise with The General Store allows an individual to purchase a region (neighborhood of 500 homes) or multiple regions (up to 1500 homes) for the exclusive sale and service of home delivery of groceries and other products and services, utilizing The General Store name and online proprietary shopping network.
The Administrator for the State of Washington has formally approved the UFOC filing, which was submitted to the State of Washington Department of Financial Institutions on May 12, 1999. To sell franchises in the United States, in 32 of the 50 states, no formal approval is required from Federal agencies other than the full compliance of the Uniform Franchise Offering Circular. The General Store intends to immediately file the necessary documentation in 12 other States requiring registration, and to file the documents with the remaining 6 states that only require a notice to be filed.
A pioneer in online shopping, The General Store International Corp. provides convenient, competitively priced shopping solutions "online vs. inline." With its unique ordering and distribution system for grocery products, customers can shop from the comfort of their homes through a color print catalog, CD-ROM catalog, telephone, fax or The General Store's soon-to-be-released e-commerce site. All grocery products are delivered to the customer's front door.
The General Store is also developing the proprietary technology CARAT(TM) DVD-TV/PC system, which is an evolution in online shopping for both the general population and over 9 million blind and disabled consumers across North America.
The statements made in this News Release may contain certain forward-looking statements. Actual events of results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.
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Toll Free: 888/252-8288 or 604/669-7511
Email: infogenstore.com
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