Paper Warehouse, Inc. operates a chain of retail stores, specializing in party supplies and paper goods. As of January 31, 2003, the company owned 86 stores in the states of Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, Oklahoma, and Wisconsin under the names, ‘Paper Warehouse’ and ‘Party Universe’. As of that date, the company had 50 franchises. It operates a Web site under the name, ‘PartySmart.com’. In addition, it sells paper warehouse franchises through its wholly owned subsidiary, Paper Warehouse Franchising, Inc. In its 8,500 square foot prototype store, the company offers approximately 12,000 everyday items, in addition to...