Entrepreneurs wanting to jump on the 7-Eleven franchise bandwagon can now access financing from Siam City Bank, Kasikornbank and Siam Commercial Bank.
“We will allow individual investors to select successful outlets from the list of our 7-Eleven stores and turn them into their franchised outlets,” Korsak Chairasamisak, CEO of CP All, the rights holder for Thailand, said yesterday.
“We want to increase the proportion of franchised outlets to about 50 per cent by the end of this year,” he said at the signing of the agreement with the three banks.
Franchised stores make up 49 per cent of the 5,300 7-Elevens in the country and the company wants to take that to 58 per cent of 7,000 stores in 2013.
“We will invest about Bt4 billion this year to open about 500 7-Elevens locally. So far 30-40 have been opened this year,” he said.
The company expects to grow its sales by 10-15 per cent this year from about Bt90 billion last year.
A 7-Eleven serves about 1,200 customers a day on average, or about 6 million people across the country.
Thai central bank steps in to curb baht price’s surge
The baht has risen about 5.6 percent against the US dollar this year, becoming Asia’s best performing currency, putting more pressure on Thailand’s export-driven economy at a time when global demand is cooling
The Bank of Thailand is taking measures to control short-term capital inflows, while continuing to relax restrictions on outflows to cope with the strong baht, according to minutes of a policy meeting last month.(more…)
SCB cuts GDP growth forecast to 3.1%
The EIC has revised downwards its Thai economic expectations in 2019 to 3.1 percent from 3.3 percent, largely as a result of the trade war between the United States and China
Political uncertainty takes toll on Thai growth
The country’s growth rate is projected to fall from 4.1 percent in 2018 to 3.5 percent in 2019, according to the World Bank’s Thailand Economic Monitor, released today.
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