7-Eleven owner Toshifumi Suzuki may be 80 years old, but he doesn’t plan to slow down anytime soon.
Suzuki is planning to expand 7-Eleven in the United States. When Suzuki bought the franchise from former owner Southland in 1991 there were 7,300 stores in North America. Since then Suzuki has increased that amount to 8,500, reports Bloomberg.
“Our U.S. business has entered the growth stage,” Suzuki told Bloomberg. “We will raise the quality of stores,”
There are 15,218 7-Eleven stores in Japan, which bring in $8,000 a day as compared to the $4,500 brought in by American stores. Suzuki insist that he can’t just copy the formula for his Japanese stores to succeed in America. Instead Suzuki wants his U.S. branches to try and appeal to American consumers, reports Bloomberg.
The 7-Eleven expansion comes at the same time that Dunkin Brands’ (DNKN) Dunkin’ Donuts and The Pantry (PTRY) are expanding their businesses.