Convenience store chain 7-Eleven Inc plans to launch a franchising business in Shanghai next year to accelerate expansion amid keen market competition.
Entering the Shanghai market in 2009, 7-Eleven aimed to open 300 outlets within five years. The chain now operates 100 stores in Shanghai and the franchising business will allow it develop rapidly to reach the target, said Huang Qianli, general manager of the China division at Taiwan’s President Chain Store Corp, the operator of 7-Eleven in Shanghai yesterday.
Huang declined to specify the franchising conditions to run 7-Eleven stores but he revealed that two stores have been operating in Shanghai on a trial franchised basis.
“We’d like to share both profits and risks with our franchisees,” he told reporters. Full post.