A word of caution to anyone in YTB or contemplating joining YTB. Please do not count the author of that blog as an authority. While he apparently has seen some success with YTB, the fact remains that after 3+ years he has still not made the director level and has not earned a binus in many many months. While I do not know, I find it hard to believe that the senior management of YTB is consulting with this RTA/Rep about the future direction of the business. That notion is ludicrous. Furthermore, if you read the blog over the past few weeks, he has told of his inside information about the news being quiet leading up to the convention. Then admits he was wrong. And then goes to blame the media for seeking out YTB and Lady Liberty as the reason he was wrong. Well, the media "interest" was due to a press release sent out; which we all know is designed to gain--media interest. Other items in the past few weeks have included such claims and fantasies as
Again, I am not the insider he feels he is, but I am not holding my breath on The Coach buying the Steelers, UPS being the sponsor of a convention prop, or Katie Couric reporting live from the YTB Convention.Can you imagine…Coach Tomer, part owner of the Pittsburgh Steelers? Okay, hard to wrap, even for me after all these years of stability in this franchise, but like Cowher in 1992 and now Tomlin who’s now in his sophomore year, I can adapt.....UPS will take advantage of being the “Official Transporter” of Lady Liberty from Lake County to St. Louis with a 3 mile long caravan of 80 UPS trucks the first week in August........There is already word of all three Major networks having press boxes at the Convention along with more than 20,000 Reps and RTA’s.
But onto the press release. I encourage people to read it and make their own determination, but this will show the other side of the coin with a spin less favorable to thoise already in the program.
WOOD RIVER, Ill., July 15 /PRNewswire-FirstCall/ -- YTB International, Inc. (OTC Bulletin Board: YTBLA) ('YTB' or the 'Company'), a provider of Internet-based travel booking services for travel agencies and home-based independent representatives in the United States, Bermuda, the Bahamas, and Canada, today announced that the Company is contemplating the replacement of its referring travel agent ('RTA') business model (not supplementing, replacing) with the implementation of a franchise operating system, potentially in 2009. The Company expects that a franchising model, if adopted, would facilitate the Company's expansion into additional markets (perhaps not travel?) by providing more comprehensive training (this is amusing, but if true, it certainly comes with more cost as the current "training"is all on the backs of the suppliers and their product reviews) and a new proprietary e-commerce platform.
Details regarding price, product offerings and the conversion plan are all under consideration, but the Company anticipates that its existing RTA base would be treated favorably (favorably is a very vague word--favorably to whom?) under its forthcoming proposal. Scott Tomer, Chief Executive Officer of YTB International, Inc. commented, 'We have retained iFranchise of Chicago to consult in the planning and development of the franchise model and are excited about the potential impact on YTB's business.' If a franchising model is adopted, its distribution is expected to be managed by (please note there is no mention of the IMRs--just managed by YTB.com) the current marketing arm of the Company, YourTravelBiz.com, also known as YTB.com
The iFranchise Group brings decades of experience to franchise development and implementation efforts. Their consultants have worked with over 30 Fortune 2000 companies and with 98 of the world's top 200 franchisors as rated by Franchise Times magazine. iFranchise has worked with clients such as Blockbuster Video, Ace Hardware, and McDonald's.
About YTB International
Recognized as the 26th largest seller of travel in the U.S. for travel sales reported in 2007 by Travel Weekly, YTB International, Inc. provides Internet-based travel booking services for home-based independent representatives in the United States, Puerto Rico, the Bahamas, Canada, Bermuda, and the U.S. Virgin Islands.
The Company operates through three subsidiaries: YourTravelBiz.com, Inc., YTB Travel Network, Inc., and REZconnect Technologies, Inc. YourTravelBiz.com focuses on marketing online travel websites through a nationwide network of independent business people, known as 'Reps.' YTB Travel Network establishes and maintains travel vendor relationships, processes travel transactions of online travel agents and affiliates, collects travel commissions and pays sales commissions. Each RTA directs consumers to the YTB Internet-based travel website. The REZconnect Technologies division operates as a travel vendor relationship management company and offers franchises of brick and mortar travel agencies. For more information, visit http://www.ytbi.com/investor.
Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.
SOURCE YTB International, Inc.