FamilyMart launches Phl franchise program

MANILA, Philippines - Japanese convenience store chain FamilyMart Co. Ltd. which has just launched its franchise program here, aims to franchise the bulk or 70 percent of its 500 targeted stores by 2018.

Philippine FamilyMart CVS Inc. general manager Eduardo Paredes Jr. told reporters during the firm’s Franchising Launch, the aim is to have the  bulk or about 70 percent of the store network accounted for by franchisees in the next five years.

 “I think we’re open to having more franchise stores…because of the response of the business community,” he said.

FamilyMart which aims to have 500 stores in the country by 2018, has decided to offer franchising to expand its footprint and cater to the demand for convenience stores here.

Philippine FamilyMart CVS president Anton Huang noted that there is room to expand in the country which could sustain 10,000 convenience stores based on studies conducted by the firm.

At present, there are only about 2,000 convenience stores spread throughout the country, offering opportunities for the firm.

FamilyMart which entered the Philippine market last year, currently has 65 stores located in Metro Manila, and is on track to have a total of 100 stores by the end of the year.

Any interested entrepreneur who is at least 25 years old and a college graduate, capable of funding the investment through personal capacity or financing from a banking institution, is welcome to join FamilyMart.

Parties interested in having FamilyMart franchise would be required to invest between P4 and P8 million to cover the operational rights, leasehold improvements, equipment, franchise fee as well as initial merchandise inventory and contingency fee.