FamilyMart: A convenient success

By Anita Devasahayam

FAMILYMART opened its first 24-hour convenience store in 1998 in the eastern edge of Seoul at Songpa district. Within five years, the convenience chain that competed with big players such as 7-11 and LG-25, triumphed by adding another 1499 stores across the country. It emerged on top of the pile and remains profitable. FamilyMart

It can be argued that household goods and perishables are proven money-spinners for strategically placed stores as a FamilyMart typically location are populated suburbs filled with apartment blocks and housing complexes. FamilyMart remains a strong contender to other convenience store chain operators with its winning combination of wise business decisions, tech-savvy set-up and good relationship with franchisees.

FamilyMart believes that its franchise system became so successful because its owners nurtured relationships with its franchisees, says its Information Systems Department manager Sang Shin Park.

Read more

Tags