7-Eleven opens a more affordable franchise package
Philippine Seven Corp. (PSC), the exclusive local licensor of global C-store chain 7-Eleven, has opened a more affordable franchise package in a bid to increase its presence nationwide.
“This year’s plan for Visayas and Mindanao is to open 75 percent franchise stores. Also, we have formulated a new franchise offer, the FC3, which is a lower investment compared to our existing franchise package,” said Francis Medina, Business Development Unit Head.
“From P3.5 to P5-million investment, we came up with the new franchise package which is around less than half a million,” he added.
Via the FC3 package, the company is now targeting to have a franchise ratio from 54 percent to 60 percent.
As of now, the company’s FC ratio is still more than half of its total stores.
“As of 2017, we already started converting some of our company-owned stores to franchise-owned. This year, we are planning to fully launch the FC3 to the public and we 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,” Medina said.
With a C-store fleet now pegged at 2,285, PSC is now targeting to open 375 new stores in various strategic locations this fiscal year.