Founders Of Postnet Form New Parent Holding Company And Aquire Printwear Xpress

Thursday, February 15, 2007

The co-founders of PostNet International Franchise Corporation, Steven Greenbaum, president and CEO, and Brian Spindel, executive vice-president and COO, have formed Global Franchise Ventures, Inc. to serve as the holding company for PostNet and their recent acquisition, PrintWear Xpress. The acquisition of Green Bay, Wisc.-based PrintWear Xpress took place on January 24, 2007. PrintWear Xpress is an emerging brand in the screen-printing, embroidery, heat transfer and personalized gifts and promotional products industry. The company caters to many different types of customers including businesses, organizations, schools, churches, clubs and event sponsors and general consumers. Founded in 2004, PrintWear Xpress began franchising a year later and opened seven locations in four states during 2005/2006. If there's one thing Greenbaum and Spindel know, it's how to grow and support a franchise business. Founded in 1993, PostNet is the largest and fastest growing privately held company in the printing and document, retail shipping and business services industries. With over 900 locations world-wide, PostNet has established a unique marketplace position as a suburban middle-ground between Kinko's and The UPS Store (formerly Mail Boxes Etc.) type concepts: closer � in the neighborhood, easier to shop, with the products and services currently in high demand by consumers, small business owners and home �based business operators.

Greenbaum, who will serve as the Chair of the International Franchise Association in 2008, plans to grow both PostNet and PrintWear Xpress simultaneously. "I love franchising," Greenbaum says. "There's nothing like putting someone in business for themselves, and when Brian and I came across this business-to-business consumer friendly concept (like PostNet), we were excited at the prospect of buying it and growing it. There are many synergies between PostNet and PrintWear Xpress." The total investment for a PostNet franchise including working capital is in the range of approximately $175,000 to $197,000 as opposed to a $120,000 to 140,000 investment in a PrintWear Express. Plans are to have 300 PrintWear Xpress locations up and running by the end of 2012.

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