7-Eleven Malaysia eyes 200 new stores next year

7-Eleven Malaysia Holdings Bhd is looking to expand the number of the convenience store chain outlets by at least 200 new stores next year. In 2017, 7-Eleven Malaysia opened 126 new stores. Berjaya Corp founder and executive chairman Tan Sri Vincent Tan Chee Yioun said 7-Eleven Malaysia is also looking at increasing the number of franchisees for stores in Malaysia, along with the expansion in the number of outlets.

7-Eleven Malaysia is the largest standalone convenience store chain nationwide with more than 2,250 outlets across the country.

Its wholly owned subsidiary 7-Eleven Malaysia Sdn Bhd today entered into a memorandum of agreement with Pertubuhan Tindakan Pejuang Wanita Dalam Sosial, Ekonomi, Rumahtangga Dan Ilmu (Tiangseri Malaysia) to provide an opportunity to those interested to be franchisees to enter the ecosystem.

Tiangseri is commissioned to recruit and recommend up to 50 potential franchisees to 7-Eleven Malaysia in the next 12 months.

This programme also bodes well with the company’s target of increasing the number of franchisees. The first store under the programme is expected to be opened next month.

7-Eleven Malaysia CEO Colin Harvey said the franchising programme through Tiangseri will see both partners leveraging on each other’s unique strengths and experience in retail and grassroots franchise recruitment.

“We are fully focused on this collaboration as we believe franchising is an integral part of our long-term corporate strategy of giving back to the local community that we operate in, as it will both provide and create important life and management skills in future entrepreneurs as well as providing more job opportunities to our local workforce.”

Harvey noted there are many potential locations for expansion, for instance in Sabah and around the Klang Valley. Meanwhile, Tiangseri president Mastura said the collaboration has already started generating interest from interested parties.

Tiangseri will also be aiding potential franchisees in securing funding at a preferential rate from agencies such as Perbadanan Usahawan Nasional Bhd and Majlis Amanah Rakyat, among others.