The chain targets opening 375 new stores this current year
The exclusive local licensor of global C-store chain 7-Eleven, Philippine Seven Corp. (PSC), after opening 318 new stores in 2017, has stepped up its momentum with more strategic franchising initiatives as part of its aggressive expansion plan.
PSC, with a C-store fleet now pegged at 2,285, is targeting to open 375 new stores in various strategic locations this fiscal year, as it embarks for long-term profitability and strong leadership this 2018.
“This year’s plan for Visayas and Mindanao is to open 75% franchise stores. Also, we have formulated a new franchise offer, the FC3, which is a lower investment compared to our existing franchise package. From Php3.5 to Php5 million investment, we came up with the new franchise package which is around less than half a million. Via the FC3 package, the company is targeting to have “a franchise ratio from 54% to 60%.” said Francis Medina, Business Development Unit Head.
Medina added that their FC ratio is still more than half of their total stores. As of 2017, they already started converting some of their company-owned stores to franchise-owned. This year, they are planning to fully launch the FC3 to the public and are expecting a heavy traffic of inquiries from there. The new program requires a full time store operator that will be hands on with store operations. Also, applicants will undergo 3-5 months of operations training.
Consolidated efforts and solid execution of strategies were reasons for the company’s successful finish in 2017. 7-Eleven’s progress in the market is due to increased efficiency and constant elevation of customer shopping experiences through great value product choices and service offerings. The company’s milestone partnership which resulted to a 100th store under Chevron-Caltex station is another accomplishment of the company.
PSC still managed to continue expanding into new territories, study new areas with potential for c-store concept, in spite of the competition with other c-stores opening. In 2017, the company’s focus was on aggressive expansion nationwide.
PSC is confident that, through continuous product innovation and new partnerships, 7-Eleven will continue to attract prospective partners, given the new challenges brought forth by the newly-implemented Tax Reform for Acceleration and Inclusion (TRAIN) law and competition with existing and new C-store market players. PWKD08022018