8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K
                                 CURRENT REPORT


                         Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934



        Date of report (Date of earliest event reported): August 30, 2000



                          Grow Biz International, Inc.
             (Exact Name of Registrant as Specified in Its Charter)


                                    Minnesota
                 (State or Other Jurisdiction of Incorporation)


      000-22012                                        41-1622691
(Commission File Number)                 (I.R.S. Employer Identification Number)


                4200 Dahlberg Drive, Golden Valley, MN 55422-4837
               (Address of Principal Executive Offices) (Zip Code)


                                 (612) 520-8500
              (Registrant's Telephone Number, Including Area Code)



                                 Not Applicable
          (Former Name or Former Address, if Changed Since Last Report)






Item 2.           Acquisition or Disposition of Assets.

          On August 31, 2000, the Company announced that it has completed the
          sale of the Computer Renaissance Franchise system and three Computer
          Renaissance retail stores to Hollis Technologies, LLC of Lakeland
          Florida. A copy of the press release is attached as Exhibit 99.1 of
          this Current Report on Form 8-K.

Item 7.           Financial Statements and Exhibits.

         (c)      Exhibits:

                  99.1     Press Release dated August 31, 2000.


                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                    GROW BIZ INTERNATIONAL, INC



Date:  September 1, 2000            By /s/ John L. Morgan
                                           John L. Morgan,
                                           Chairman and Chief Executive Officer






                                  EXHIBIT INDEX

                                       to

                            August 30, 2000 Form 8-K

                          Grow Biz International, Inc.



Exhibit Number             Exhibit Description


      99.1                 Press Release dated August 31, 2000.

EX-99.1

                                                                   Exhibit 99.1



Contact: John L. Morgan
                  763-520-8500


                              FOR IMMEDIATE RELEASE

                  GROW BIZ INTERNATIONAL INC. COMPLETES SALE OF
                  COMPUTER RENAISSANCE TO HOLLIS TECHNOLOGIES

Minneapolis, MN (August 31, 2000) -- Grow Biz International, Inc. announced
today that it completed the sale of the Computer Renaissance(R) franchise system
and three Computer Renaissance(R) retail stores to Hollis Technologies, LLC of
Lakeland, Florida yesterday for $3 million, of which approximately $1 million
will be held in an escrow account for up to 18 months. In addition, Grow Biz has
entered into a five-year consulting agreement to provide ongoing franchise and
business consulting services to Hollis Technologies.

John L. Morgan, Chief Executive Officer, of Grow Biz said, "Hollis Technologies
has the expertise and strategic vision to take Computer Renaissance(R) to a new
level of success." Hollis Technologies Chief Executive Officer, Jack Hollis,
states, "With the experience in the Computer Renaissance(R) franchise system and
our vision of the business, the employees of Hollis Technologies are looking
forward to building a new Computer Renaissance(R)."

Grow Biz International, Inc. develops franchises which operate value-oriented
retail concepts for stores that buy, sell, trade and consign used and new
merchandise. At June 24, 2000, the Company had 1,103 stores in operation and an
additional 91 franchises awarded but not open. Of the stores in operation, there
were 581 Play It Again Sports(R), 227 Once Upon A Child(R), 190 Computer
Renaissance(R), 78 Music Go Round(R), 14 Retool(R) and 13 Plato's Closet(R)
stores.