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DALLAS -- There will be 30 7-Eleven locations added to the more than 185 existing locations on New York's Long Island in 2008, as part of parent company Seven & I Holdings' $2.4 billion investment in its U.S. arm, the Long Island Business Journal reported, citing Tariq Kahn, president of the Rockville Centre, N.Y.-based National Coalition of Associations of 7-Eleven Franchisees.
This plan is joined by 7-Eleven's divesture project for its more than 1,000 company-operated U.S. stores, Margaret Chabris, 7-Eleven public relations and marketing director, told the Journal. The conversion to franchises has already occurred in the West and the South, the report stated.
"The company believes this is the way to go," Chabris told the paper. "With a franchise system you have store operators that have a financial investment in the business, and we find they are usually more involved with their communities."
Meanwhile, the company also launched a program to convert existing operators to the 7-Eleven brand. The Business Conversion Program began in the spring of 2005, and calls for a remodel and new equipment installed by 7-Eleven and leased to the franchisee.
In the last two years, 37 conversion franchises have opened, with 28 of them opening this year. Two have opened in the Bronx, N.Y., and some locations on Long Island have been targeted for conversions, according to Chabris.