BAB, Inc. Announces Franchise in Development for New Concept
BAB, Inc. (OTCBB: BABB), announced the launch of BAB's first SweetDuet Frozen Yogurt & Gourmet Muffins® unit, now under development in Kalamazoo, Michigan.
Michael W. Evans, President and CEO of BAB said, “As we develop SweetDuet, our focus on the Big Apple Bagels and My Favorite Muffin franchise concepts will continue with renewed vigor. We expect there to be certain synergies and practices with the new concept that will benefit all our brands. We have spent the earlier part of the year working on all the elements necessary to build a new brand, from trademark registrations and franchise disclosure approvals to prototype design and product sourcing. This process is costly, as was demonstrated in our First Quarter results which were down compared to the same quarter of 2012.” Evans, who is the Company’s largest shareholder, went on to say, “That is why, effective immediately we are implementing a 19% reduction in executive compensation compared to the previous fiscal year. Our management team is taking voluntary salary reductions intended to help offset our development costs, which reflects the level of our personal commitment to the new concept, our franchisees and our stockholders.”
BAB, Inc. franchises and licenses Big Apple Bagels®, My Favorite Muffin® SweetDuet Frozen Yogurt & Gourmet Muffins® and Brewster’s® Coffee. The Company’s stock is traded on the OTCBB under the symbol BABB.