Tesco convenience subsidiary, One Stop, has opened its 200th franchised outlet at Witham in Essex. Having launched the franchise package at the beginning of 2015, the rate of retailer recruitment, intially much quicker, has slowed to a steadier pace; with an incremental 30 franchise stores expected to be added over the current full financial year, ending February 2020.
Franchise now the key growth element of One Stop
While the One Stop chain remains skewed to company-owned/operated stores, with some 754 units controlled directly, this number is in slight decline, as the business churns its locations to optimise around the best performing sites. In comparison franchise stores are in net growth, progressively shifting the balance within the overall network. With this latest opening, franchise stores now make up 21% of the overall 954 One Stop stores, up from 18% less than a year ago.
One Stop Head of Franchise, John Miller commented:
'This is a real milestone for us at One Stop as we welcome our 200th franchise store to our portfolio of over 950 neighbourhood shops. Over the years we have worked hard to build an outstanding franchise model that allows franchisees to build strong, profitable businesses, with many going on to open multiple sites.'