Velocity To Run Franchises

Wednesday, September 12, 2007

Velocity Express launched a plan to expand through franchising.

In an effort to save on costs of opening local agencies, the time definite regional carrier is opening a new subsidiary, Velocity Systems Franchising Corporation. The new company will develop franchise agreements with local and regional delivery companies in markets not currently served by Velocity Express, the company said.

"Through our franchise model, Velocity Express can offer our national customers increased geographic coverage and enhanced service offerings by partnering with the best, local and regional delivery companies in a specific market. In turn, by becoming a Velocity franchise operation, our franchisees will have access to opportunities created by our national account sales strategy, which they may not have had access to. This is truly a "home-run" for both of us," said Chairman and CEO Vince Wasik.

The company expects to improve gross margins through reducing capital expenditures to open new markets.

Drew Kronick, the company's executive vice president of business development and supply chain solutions, will also serve as the president of VSFC. "Unlike 3rd party logistics relationships, we will have a much closer bond with our franchisees, who will be certified in the procedures required by Velocity Express's customers," Kronick said.

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