7-Eleven Franchise Aims To Sign Up 200 Franchisees This Year

March 31, 2010 - PRLog -- 7-Eleven Aims To Sign Up 200 Franchisees This Year


KUALA LUMPUR, (Bernama) -- 7-Eleven Malaysia Sdn Bhd, operator of the 7-Eleven stores in the country, expects to sign up a total of 200 franchisees by year-end, chairman Tan Sri Vincent Tan Chee Yioun said Thursday.

Presently, there are 110 franchisees enrolled under its franchise programme, of which 10 have started running their own 7-Eleven stores, Tan said.

"We expect to sign up 200 7-Eleven franchisees by year-end and eventually grow the number of franchised stores to up to 50 per cent of the total number of stores," he said at the signing of a memorandum of understanding (MoU) between Ambank (M) Bhd and 7-Eleven Malaysia for the 7-Eleven franchisee financing package.

Currently, there are over 1,100 7-Eleven stores nationwide.


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Tan said the company planned to continue expanding its network by increasing its stores to over 2,000 in the next few years.

"Our stores are now largely company-owned but we would like Malaysian entrepreneurs to share in the growth through our franchise programme," he said.

On the MoU, AmBank Group chairman Tan Sri Azman Hashim said the financing package was exclusively made available to potential 7-Eleven franchisees and was to help eligible and qualified candidates to participate in the 7-Eleven franchise programme.

The loan package was to part finance the franchise fee, payment for stocks and security deposit, he said.

"The financing package is flexible with four different plans with the loan amount ranging from RM100,000 to RM175,000 to suit different financing needs of the franchisees," Azman said.

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No collateral was required and the interest rate was competitively priced, he said.

He also said that AmBank had approved franchisee financing to 30 stores located in Selangor, Kuala Lumpur, Penang, Kedah, Negeri Sembilan, Johor and Terengganu.

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