Convenience retailer 7-Eleven has opened a new store in Queensland’s Coolum Beach, and revealed the extent of its expansion plans for the current financial year.
The Coolum Beach store was officially opened on 18 July, one of a number to open in the Sunshine State, which 7-Eleven said is part of its plan to “better serve the needs of Queensland’s booming areas”.
The retailer’s national manager of corporate stores, Marc Costabile, told My Business that 2019–20 will see as many as 30 new stores added to the network nationwide.
“We are continuing to grow, and expect to open up to 30 stores this financial year, in addition to the 29 stores opened last financial year,” he said.
“We have more than 540 fuel stores in our network, and while most of our growth is in fuel sites, we are also opening new traditional non-fuel convenience stores.”
Mr Costabile added that Queensland is a key growth market for the business, where around a third of the new stores will be located.
“We are seeing some great growth in Queensland,” he said.
“We’ve got approximately 189 stores in the state. We expect up to 10 new stores in Queensland opening in the foreseeable future.”
Other areas that 7-Eleven is focusing its expansion include Western Australia as well as several “developing areas” in both Victoria and NSW.
According to Mr Costabile, around 15 per cent of 7-Eleven’s store network are company-owned, with the remainder franchised.
He said that while that proportion is likely to remain stable, “in the majority of cases, new stores are opened and operated as corporate stores while they establish, before they might be available as a franchise opportunity”.
Alongside its expansion plans, 7-Eleven has also rolled out its own branded fuel app.
This app, it said, will let customers “lock in the cheapest fuel price locally available at a 7-Eleven store, and redeem it anytime across the next seven days at any 7-Eleven fuel store in Australia”.
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.
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