Cheers, the convenience store chain under NTUC FairPrice, has embarked on a new franchise programme to boost business growth.
According to FairPrice CEO, Seah Kian Peng, the programme hopes to “accelerate the growth of the Cheers brand” while encouraging entrepreneurship amongst locals.
NTUC targets to franchise 60 to 70% of all Cheers stores over the next three years.
A FairPrice spokesperson also told Marketing that through the initiative, Cheers hopes to inject new ideas and fresh perspectives into the brand. He added that marketing direction will be provided by Cheers to ensure the brand name is not diluted.
However, input from those managing the stores will also be taken into consideration. It is also understood that the franchisees and their stores will also be reviewed regularly.
Additionally, to ensure that franchisees make sound investment decisions, they will be provided with the store’s financial statements and business assessment reports before they select which store they wish to operate.
They will also receive a three-month comprehensive training programme and have the benefit of ongoing support on matters related to running a business such as financial management, service training, HR management, and stock-taking.
The franchise programme is open to Singapore citizens and permanent residents aged 25 years old and above.
Cheers currently has over 130 stores catering to a diverse group and offers customers a wide range of products ranging from basic necessities to bill payment.