Aiming to tap more business growth prospects in various regional markets in the country, world-renowned convenience store chain giant 7-Eleven announces its aggressive expansion campaign with the opening of 412 new stores across the country this year.
Banking on the Philippines’s continued performance as one of the countries with highest growth in Asia, Philippine Seven Corp. (PSC), the listed local franchise holder of 7-Eleven, is optimistic the positive outlook will lead to the achievement of its expansion goal in 2017. The company is set to open a total of 262 stores in Luzon, 138 of which will be opening soon in Metro Manila and 124 outlets in provincial areas. Another 150 branches will be opening in the Visayas and Mindanao.
According to PSC Business Development Unit Head Francis Medina, the move shows 7-Eleven’s firm stand to maintain undisputed leadership in terms of market share in highly competed territories. PSC is eyeing to penetrate new territories, and is aggressively seeking franchise partners in these areas. Offered in flexible options, potential partners can avail of Regular New Store Franchise (open a new 7-Eleven store) or Property Conversion (convert an established business or property into a 7-Eleven franchise).
7-Eleven’s franchise package offers suitable franchise partners a unique opportunity to benefit from a proven system and ongoing support. Apart from one-month preparatory training, partners are lent with assistance, especially at the first crucial stages of operational transition, from supervising, basic Human Resources coaching, to sales monitoring.
In line with the expansion is the rolling out of the new store of the future designs wherein the concepts will vary and depend on the store’s locations and cluster.
According to PSC Finance Department Head Lawrence de Leon, this year’s expansion program will cost the PSC P4 billion. Last year PSC has allotted P3.5 billion for capital spending, up from P3 billion in 2015, to fund new store openings, store renovations and equipment acquisitions.
“7-Eleven’s increased budget is a timely development that not only defensively secures our foothold in the country, but one that will also pave the way for more job creations and provide businesses in the areas, benefiting the people where the stores will be built,” de Leon said.
Increased marketing activities and improvisations in the product and service portfolio also account for 7-Eleven’s continued growth. PSC’s major partnership deals with prominent groups like Caltex-Chevron and LTS Supermarkets Inc. also resulted in a broadened, more profitable and competitive franchise retail format for 7-Eleven.
In light of rising market competition from new and incumbent players, PSC is very much confident it will remain the most trusted franchise business of choice among potential Filipino partners, and the solo leader in the convenience store category.
Medina added PSC is expecting to end the year with 2,347 stores nationwide compared to last year’s figure of 1,996—an 18-percent increase in nationwide count.