TSX-V Trading Symbol: FSN
CALGARY, Jan. 23 /CNW/ - FRANCHISE SERVICES OF NORTH AMERICA INC. ("FSNA"
or the "Company") announced today that it has completed the sale of the Orange
County (John Wayne) Airport franchise for the U-Save brand, and that the
franchisee has already begun to accept reservations. The new franchisee has
been in business as an independent for several years and is located directly
across the street from the airport.
The Company is also pleased to announce that it was ranked 285th in
Entrepreneur magazine's Franchise 500 edition for 2008, and was the top ranked
company under the automotive category Rental & Sales.
Bob Barton, the Company's Chief Operating Officer, stated, "We are very
excited about our newest airport location servicing John Wayne (Orange County,
CA) airport. The franchisee, being a local operator for several years, brings
the U-Save family an existing customer base, demonstrated by its immediate
flow of reservations for U-Save rental vehicles.
Being recognized as one of the top franchise companies in America, and
being the highest ranked system in the automotive category, Rental & Sales, is
a true honor and reflects in the growth of the Company over the past year. We
continue to sell both airport and local market franchisees."
FSNA is a publicly traded company listed on the TSX Venture Exchange. The
Company and its subsidiaries own the following brands: U-Save Car & Truck
Rental, U-Save Car Sales, Rent-A-Wreck of Canada, Auto Rental Resource Center
("ARRC"), Xpress Rent A Car and Peakstone Financial Services.
U-Save, together with its subsidiary ARRC, has over 1,100 locations
throughout the United States and is one of North America's largest franchise
car rental companies. Having primarily serviced the local market for the past
25 years, the Company is expanding into the airport market with plans for the
opening of airport locations in the top 30 markets in the United States and
the major airports in Canada. U-Save currently services 28 airport markets in
14 different states. U-Save Car Sales is an expansion of the U-Save brand into
the car sales market, and provides goods and services to car sales operators
looking to affiliate with a national brand.
Practicar Systems Inc. (a wholly owned subsidiary of FSNA) owns the
rights to the Rent-A-Wreck(R) trademark for all of Canada. The Rent-A-Wreck(R)
system operates a network of 53 franchises from coast-to-coast in Canada,
providing a range of vehicle rental, leasing and sales options to its
customers. The Rent-A-Wreck(R) system has been in continuous operation in
Canada since 1976.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: on FSNA or any of its operating subsidiaries
please contact: Alison Tullis, CHF Investor Relations, (416) 868-1079 x 233,
Alison@chfir.com; Robert M. Barton, Chief Operating Officer, FSNA, (601)
713-4333 x 116, email@example.com