Dallas While many retailers are curbing their expansion plans, 7-Eleven is announced its intention to extend its breadth across North America.
Besides its plan to add more than 200 new stores in 2009, the convenience store chain announced it will continue the momentum and further increase its store portfolio over the next several years.
The chain said it plans to fuel growth by establishing freestanding stores, as well as end-cap space in shopping centers, across more urban locations, in light-industrial sites, city residential areas and suburbia. These outlets will result from organic growth, acquisitions and its Business Conversion program, a practice that taps existing independent c-store operators who want to convert to become a part of 7-Eleven’s franchise system.
Typically, 7-Eleven invests an average of $280,000 into these conversions. There are now 110 outlets that have been converted to 7-Eleven stores since the program started in 2006, according to a company statement.
The chain, which operates and franchises more than 6,200 stores in the United States and Canada, opened 170 stores in 2008.