Street Mart planning
30 franchised stores
Starting in gas stations, followed by
Street Mart, a chain of convenience stores, opened its first outlet last week, in the Hypco Station, in Nahr el Mot, North Metn.
The concept is owned by Adel Bou Habib & Partners, subsidiary of Adel Bou Habib & Co, which is active in the oil and gas sector. The chain’s concept was conceived by entrepreneur Wissam Bou Habib.
The chain took one year of planning and preparation. “We launched the store in a gas station that we own,” Bou Habib said. It cost $20,000 in shelving and decoration investment, not including the products.
Street Mart is planning 30 outlets. They will be mainly tackling gas stations and high-density residential neighborhoods. “We are looking forward to develop our brand across the local market, but still searching for the good opportunities.”
The concept will be franchised through young entrepreneurs. “The business requires very little investment, low overhead, no warehousing or stocking, and does not require any direct contact with products suppliers as we will provide the needed items.”
The franchise will be provided at a very low investment. Bou Habib will benefit from a three percent royalty on each outlet’s sales.
The store offers a varied selection of FMCG products, including an assortment of local and international alcoholic beverages. Bou Habib said that Street Mart is unlike most convenience stores found in gas stations which limit themselves to necessities that drivers seek while washing the car or fueling it. These would include small snacks, cold beverages, tissue paper, and others. “This would give us a competitive edge.” Products will cost almost the same as those in supermarkets.
Date Posted: Nov 19, 2014