Grow Biz International, Inc. announced that it has completed a Master Franchise Agreement with Duskin Company, Ltd. for the Once Upon A Child(R) concept. The agreement grants Duskin the exclusive right to open corporate and/or franchise stores and sell products under the Once Upon A Child(R) business format in Japan. The agreement provides Duskin with the exclusive right for a period of twenty years. In order to maintain its exclusive right, Duskin must meet a minimum annual development schedule. The schedule requires Duskin to open a minimum of 100 Once Upon A Child(R) stores in Japan over the next ten years. Duskin Company, Ltd. is a franchise company based in Osaka, Japan with worldwide revenues in excess of $3 billion. They currently franchise 24 different franchise concepts and have over 10,000 franchise locations. The company was formed in 1963 and has grown primarily through the development of various franchise concepts in Japan. Grow Biz International, Inc. develops franchises and operates value-oriented retail concepts for stores that buy, sell, trade and consign used and new merchandise. At June 26, 1999, the Company had 1,226 stores in operation and an additional 109 franchises awarded but not open. Of the stores in operation, there were 634 Play It Again Sports(R), 222 Once Upon A Child(R), 228 Computer Renaissance(R), 67 Music Go Round(R), 63 It's About Games(TM), 8 ReTool(TM) and 4 Plato's Closet(R) stores.
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