MAIL BOXES ETC. RX FOR DISPLACED POSTAL EMPLOYEES
MAIL BOXES ETC. RX FOR DISPLACED POSTAL EMPLOYEES SAN DIEGO, Oct. 6 /PRNewswire/ -- At a time when thousands of
U.S. Postal workers feel they have nothing to look forward to other than collecting severance pay, Mail Boxes Etc. (NASDAQ: MAIL) (MBE) has some surprising good news. Through a program called POSTFRAN, MBE, one of the nation's most successful franchisors, will offer any displaced postal employee an exclusive financing plan for 50 percent of the $22,950 license fee to assist in the purchase of a franchise. MBE will also finance an additional $30,000 for fixtures and equipment, requiring no additional security for collateral. A similar program, VETFRAN, launched 18 months ago by MBE and other franchisors, assisted military veterans in acquiring an MBE franchise.
"MBE wants to assist the approximately 45,000 postal workers whose jobs, according to the Postmaster General, are being eliminated because of down-sizing," says Kenneth C. Sully, MBE's vice president, Franchise Development. "We are offering them affordable financing to buy a franchise they're uniquely qualified to run. An MBE franchise is an excellent way to invest in a business with which they're already familiar." Having knowledge of the business and the industry is what lured other United States Postal Service (USPS) employees to buy their own MBE Centers after leaving the post office. "For a former postal worker, buying an MBE Center is an easy transition into the private sector," says Bob Hanrahan, who bought an MBE Center in Rockland, Mass. three years ago. "I left the post office because I didn't want to deliver mail for the next 25 years. At MBE, there's definitely money to be made; we haven't even touched the tip of the iceberg yet." "Making a go of a small business is the most exciting challenge of my life," says Sally Kepplinger, who owns an MBE Center in Webster, N.Y. "Twenty years of post office experience gave me a definitive advantage over other new franchise owners. That's why I took early retirement, and used the money to buy an MBE franchise." "We see this incentive program as a significant opportunity to enlist a large group of highly-qualified individuals into the private sector," says Sully. "Frankly, we expect it to be enormously successful. After all, who knows the business of renting mailboxes, providing postal services, and shipping better than a former post office employee?" Franchising, he points out, also offers a proven business system with a 95 percent success rate compared to a 35 percent rate for independent businesses cited by the U.S. Department of Commerce. MBE opens one new franchise per business day and is ranked by Entrepreneur magazine as the "No. 7 Fastest Growing Franchise." "There's nothing like the security of owning your own MBE Center," says David Adams, a 19-year USPS veteran who opened his Grand Junction, Colo. MBE Center two years ago. "It sure beats working for others and waiting for your job to be eliminated due to reorganization. As the MBE logo says, 'MBE is the biggest because they do it right.'" Mail Boxes Etc. is a San Diego-based holding company, whose operating subsidiary, Mail Boxes Etc., USA Inc., is the world's largest franchisor of neighborhood service centers specializing in postal, business and communications services with more than 1,700 centers operating throughout the United States. Internationally, Mail Boxes Etc. has master licensees in nine countries: Canada, Germany, Jamaica, France, Mexico, Spain, the United Kingdom, Brazil, and Italy. QUESTION AND ANSWERS ON POSTFRAN -- What is POSTFRAN'S purpose? The POSTFRAN program is designed to assist the thousands of displaced post office employees in buying a franchise. Only those former USPS employees who can verify their displaced status can participate in the program. How is MBE sponsoring this program? MBE is offering all displaced postal employees who qualify under the POSTFRAN program special financing: 1) 50 percent of the franchise fee for 3 years at prime, plus 4 percent; and 2) MBE in-house leasing program up to $30,000 for as long as 96 months What this means is that qualified postal employees can finance approximately $40,000, about 50 percent of the total $80,000 investment. How long is this offer valid? This program goes into effect immediately and will continue through December 1993. How does an interested Post Office employee get started in the process? There are two methods: -- Call MBE's toll-free telephone number, 800-456-0414 and ask for a referral form for POSTFRAN; or -- Stop by any of MBE's 1,700 centers in the United States and ask for a referral form. Be sure to include the name of the program -- POSTFRAN -- on the application.
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|Date:||Oct 6, 1992|
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