HouseHold Direct Retains iFranchise Group to Develop a National Franchise Program
NEW YORK--(BUSINESS WIRE)--April 24, 2001--HouseHold Direct.com, Inc. (OTCBB: BYIT - news). HouseHold Direct announced today that the Company has retained the iFranchise Group, Inc. to develop the implementation of a national franchise program. Incorporating this program into its operational strategy will enable the Company to accelerate its business plan, in the mission to consolidate the industry of private wholesale buying clubs.
HouseHold Direct plans to create a master shopping network, defined by corporate run acquired clubs in combination with licensed franchise units. The Company anticipates that franchise licensing fees and recurrent membership royalties will substantially enhance its revenue base. By virtue of their streamline footprint, private buying clubs are ideally suited for the franchise model. The industry has successfully tested this model, which accounts today for more than half of its operation.
A division of Siebert & Associates, Inc., iFranchise Group is a coalition of the nation's leading professionals in franchise strategic planning, franchise law, operations training and documentation, franchise marketing and sales, advertising fund management, and development of Internet-based applications for emerging and established franchise companies. The iFranchise policy is to accept a limited number of clients per year and function as a long-term advisor and valuable resource through every stage of franchise development and growth.
The selection of iFranchise Group was based upon the reputations of its principals and their impressive records of achievement. The collective experience of the iFranchise team incorporates decades of relationships with hundreds of the world's most prominent franchisers, including: McDonalds, Ace Hardware, Horizon Pharmacies, Ryder Truck Rental, Allstate Insurance, Lenscrafters, Coldwell Banker, Mobil Oil, Bridgestone/Firestone, Hallmark and Successories, to name a few.
Mr. John Folger, President of HouseHold Direct stated: ``The Company never lost sight of the enormous advantage to implementing a franchise strategy. However, we only recently developed relationships leading us to one of the most successful franchise teams in the country. We look forward to building a program that will enable us to achieve our objectives on a greater scale, ahead of projections, and in a more focused and cost effective manner.''
A detailed profile of iFranchise can be viewed at the corporate web site: www.iFranchise.net.
About HouseHold Direct
The mission of HouseHold Direct is to empower consumers by creating the largest private wholesale shopping network in the world. HouseHold Direct is focused upon becoming the dominant and only publicly traded company to represent the fragmented industry of private wholesale buying clubs. The Company is pursuing a consolidation strategy, which merges the acquisition of choice buying clubs, with a national franchise program. The Company plans to revolutionize the industry by introducing a fully integrated centralized network, supported by an advanced web platform, and driven by recurrent membership fees and franchise royalties. Central to the mission's success is a factory direct pricing model for current brand name merchandise, extensive product information, convenient order fulfillment, quality customer support, and enticing benefit programs. This superior personalized shopping experience will create the compelling incentive for membership, and underscores the company slogan ``live much better for much less''.
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, risk inherent in the company's domestic and international operations, imprecision in estimating product reserves and the company's ability to replace and expand its holdings.
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Contact:
Hartsfield Capital Group, Inc.
Rick Morgan,
Vice President of Mergers and Acquisitions
770-408-9000
or
E-mail: infohhd@HouseHoldDirect.com
Web Site: householddirect.com
or
Investor Relations - SmartStockAdvisor.com
Toll Free: 877-643-8821
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