USA Global Business Services unit sets quarterly growth record
Global Business Services, Inc.’s (OTCBB:GBSS) subsidiary, Postal Connections of America (PCA), a rapidly growing franchise network of postal and business services stores, reports record unit growth with 17 opened or sold franchises in the second quarter, ending December 31. The subsidiary also expanded its Area Franchise network with the sale of the five-county Chicago Area.
“Our store growth has picked up momentum,” said Ken Sully, President of Postal Connections. “We’ve increased our network size by 25% in just the last quarter and now we have Area Franchisees in seven major markets across the country.” Area Franchisees own large territories and provide a local presence for helping to sell new stores, develop future locations and extend operations support to individual franchise owners.
“Rapid store growth also is bringing our company strong increases in monthly royalty revenues,” Sully said. “During our second quarter, we had a 21% jump in royalties over the same holiday period of a year ago and for calendar 2003 our royalty income increased 29% over 2002,” he added.
Postal Connections of America has 60 locations open or sold across the country with Area Franchisees in seven major markets. Stores provide shipping, packaging, copying, mail receiving and other services needed by small office/home office businesses and busy consumers offering them convenience and is 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.
