Nick Yates | |
---|---|
Nationality | Australian |
Known for | Vending entrepreneur, Generation NEXT Franchise Brands |
Website | Official website |
Nick Yates is an Australian vending entrepreneur and businessman who is currently[ when? ] living and doing business in the United States.
On February 8, 2010, Yates formed a vending machine franchise called Fresh Healthy Vending in San Diego. Fresh Healthy Vending has been active in providing healthy vending products to schools, as encouraged by the Healthy, Hunger-Free Kids Act of 2010, [1] which placed a prohibition on high-calorie junk food in school vending machines. [2] In 2010 Fresh Healthy Vending became a publicly traded company trading under the stock symbol VEND. Fresh Healthy Vending was nominated by both Entrepreneur and Inc magazine. [3]
Fresh Healthy Vending failed to disclose Yates' litigation and bankruptcy history in its franchise disclosure documents. As a result, the California Department of Business Oversight revoked Fresh Healthy Vending's ability to sell franchises in California and then ordered the company to offer rescissions to franchisees in that state. [4]
Yates was the chairman of Generation NEXT Franchise Brands, a San Diego-based franchisor whose franchises include Reis & Irvy's, [5] 19 Degrees Frozen Yogurt and Generation NEXT Vending Robots Inc. [6] [7] Nick Yates' Reis & Irvy's frozen yogurt vending machines accept cryptocurrency. [8] Yates resigned from Generation Next in October 2019 [9]
In September 2022 Nick Yates launched 99 Innovations a new robotic soft-serve vending kiosk company. The multi-tiered model allows established vending industry operators, food service companies, and business owners access to robotic soft-serve equipment. [10] [11] [12]
A vending machine is an automated machine that dispenses items such as snacks, beverages, cigarettes, and lottery tickets to consumers after cash, a credit card, or other forms of payment are inserted into the machine or otherwise made. The first modern vending machines were developed in England in the early 1880s and dispensed postcards. Vending machines exist in many countries and, in more recent times, specialized vending machines that provide less common products compared to traditional vending machine items have been created.
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