Worldwide Food Services, Inc. (OTC.PK: WSFVD)
Worldwide Food Services, Inc. will use resources provided by the Government to educate, train, and support veterans and visually handicapped individuals and groups. These programs provide an income stream from food and beverage programs in post offices, courthouses, penitentiaries, and VA hospital facilities, as well as from subsidized rent and equipment for the vending and cafeteria businesses. Previously, comprehensive national sales and purchasing plans to make use of these government programs for these groups did not exist.
Worldwide Food Services, Inc. solved this problem by purchasing a Service Disabled Veteran Owned Business (SDVOB), Eagle View LLC, a base from which to coordinate governmental programs. The Company has also purchased the National Blind Enterprises Co-op, Inc. and the National Blind Brokers Co-op, Inc., which further solidifies WWFS’ position with federal and state officials. The potential for the Company to capitalize on available federal and state supported programs and resources for these groups (funded in part by the federal government) will allow WWFS’ revenues to multiply over the next 10 years.
The company’s goal is to generate revenues from these multi-billion dollar programs, to train and hire (place) veterans and blind persons, and to support their organizations and families through rebates, sponsorships and profits from their own businesses. WWFS will introduce blind and veteran groups and individuals to appropriate government officials and encourage the governmental departments to buy from the very people they aim to serve and support. Through these objectives, the premise behind Worldwide Food Services is to “Buy from Your Own.”
National Blind Enterprises Co-op
Worldwide Food Services, Inc. acquired the National Blind Enterprises Co-op, Inc. to provide competitive pricing and efficient distribution to the 3400+ visually impaired vendors in the United States. Prior to July of 2008, each blind vendor acted as an independent retail entity, with little or no leverage with manufacturers or distributors to obtain beneficial pricing. This situation came about because the federal and state governments, under the 1963 Randolph-Sheppard Act (a Federal law which mandates a priority to visually-impaired persons to operate vending and food service facilities in governmental buildings and on public property) provides the vending machines and the facilities rent free but provides no assistance with purchasing.
For the past 15 years, blind groups operating under the Randolph-Sheppard Act could not consolidate their members under a uniform purchasing program due to political in-fighting between the groups. The National Blind Enterprises Co-op was one of the last groups trying to consolidate a purchasing program and when they joined with Worldwide Food Services , the consolidation became complete due to Worldwide’s relationships with the major vending and food service manufacturers as well as the largest vending and food service distributors. The fact that Worldwide did not have a political agenda and was not under the Randolph-Sheppard umbrella, the blind vendors were very receptive to the Company’s pricing, rebate structure, and customer service initiatives. For the first time, and individual blind vendor had the support of a national purchasing power and had a company to help them resolve problems and address new opportunities.
The co-op serves additional functions for blind vendors, including:
- Training in vending and food service operations
- Creation of jobs via expansion of existing facilities
- Monitor progress of new and current business operators
The Worldwide Food Services’ rebate program provides revenues for the Company and additional income for the blind merchants. Both revenues and profits will increase given the potential for adding new blind vendors, major cafeteria facilities including prisons, military bases and postal distribution centers, and additional services such as “Grab-n-Go’s”. The integration of the National Blind Brokers Co-op with its own product line will also create revenue and profit growth as new items are placed in the Co-op’s food and beverage pipeline. These new items include the Veteran’s Yellow Ribbon labeled merchandise, the Mini Dollar Store vending machines, and the retail merchandising associated with them.
Yellow Ribbon
Worldwide Foods has obtained the rights to use the Veteran’s Yellow Ribbon with the SUPPORT OUR TROOPS inscription. The Company willmarket its Veterans-labeled products through Veteran Canteen Service, which operates cafeterias and retail stores in Veteran Administration (VA) hospitals, as well as PXs and commissaries on military bases. Additionally the company will market the Veteran’s products through its National Blind Enterprises Co-op cafeterias, and vending machines as well as private-sector supermarkets and convenience stores throughout the United States.
The company’s goal is to generate revenues from these multi-billion dollar programs, to train and hire (place) veterans and blind persons, and to support their organizations and families through rebates, sponsorships and profits from their own businesses.
Mini Dollar Stores
For the past year, Worldwide Food Services, Inc. has been laying the foundation for its Mini Dollar Store program. A comprehensive plan is now in place to offer our customers, including the National Blind Enterprises Co-op and their thousands of locations and the Veteran’s Administration with over 500 hospitals and medical centers, incremental sales and profits while at the same time offering consumers the proven value of Dollar Store merchandise.
Many details had to fall in place to create the uniqueness and brand image the Mini Dollar Stores required, including the development of special vending machines and the integration of distributors, suppliers, and vending operators. In addition to a turnkey, national umbrella strategy, 400 of the top dollar store items representing over 70% of total dollar store revenue have been selected.
Once this was accomplished, attention was directed to thousands of potential new outlets and was, in addition to their National Blind Enterprises Co-op and the Veterans Administration base, focused on the following:
- Schools
- Nursing homes
- Airports
- Hospitals
- Corporate buildings
- Convenience stores
The Mini Dollar Store line of products in the vending machines are localized to reflect school preferences for both food and non-food items. The same rationale applies to airports, supermarkets, corporations, post offices, penitentiaries, convenience stores and hospitals.
The expansion potential to other markets such as religious institutions (fund raisers), mobile canteens, and strip malls provides unlimited audiences for their products in a non-vending environment. By achieving national brand status, the Mini Dollar Store’s volume purchasing, manufacturer’s rebates, and machine royalties from vending operators creates a significant revenue stream.
The Dollar Store industry is a multi-billion dollar revenue producer. Representing a new and captive audience created by schools, airports, and hospitals, our Mini Dollar Storea respectable market share. Delivering high demand, value products through current distribution channels will ensure the Mini Dollar Store subsidiary is a major contributor to the success of Worldwide Food Services.
Leadership
Anthony Najjar, COO
James McShane, President, Dir.
Dean Martin, Dir.
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