7-Eleven is one of the leading convenience store in the Philippines today. Operated by Philippine Seven Corporation, 7-11 has the reputation of being the first 24 hours convenience store, 7-11 continually grow from 195 at the end of 2003 and to 253 operating stores now and still growing.
Philippine Seven Corp. (PSC) acquired the license agreement to use the 7-Eleven Convenience Store system in the entire Philippines from Southland Corporation of Dallas, Texas in October 26, 1982,. PSC registered to SEC on 29 November 1982. The incorporators were Jose T. Pardo, Vicente T. Paterno and Francisco R. Sibal. 7-Eleven first corporate office was located at the ninth floor of the Century Tower building in Salcedo Village, Makati City.
On February 15, 1983, the Five-Man Team consisted of Francisco R. Sibal, Executive Vice President; Ramon de Jesus, General Manager; Jose Blanch, Merchandising Manager; Wilfredo Villanueva, Accounting Manager; and Teodoro Wenceslao, Store Operations Manager undergone a five-week in-depth training in their respective fields.
The triggered On August 21, 1983 PSC decided to proceed with the 7-Eleven project even with the steady deterioration of the economy and political situation in the country because of the assassination of Ninoy Aquino at the Manila International Airport.
The company needed fresh capital to build its first two stores. Increased equity contributions from Mr. Jorge L. Araneta and Mr. Ernesto B. Rufino Jr., two outstanding businessmen who were invited to become new shareholders and directors of (PSC) gave the company a big boost.
PSC opened its first 7-Eleven convenience store, located at the corner of EDSA and Kamias Streets in Kamuning, Quezon City, on February 29, 1984, despite the aggravating political and economic adversities. The second 7-Eleven convenience store was opened at President Ave., BF Homes, Parañaque, which was adjacent to the entrance of a posh subdivision, in April 1984.
In 1984 to 1985, Francis R. Sibal was compelled to sell his share in the company and relinquish his responsibilities as executive vice president and managing director because 7-11 continuous to loose money, and they are having a hard time to get secure a loan. Mr. Vicente Paterno replaced him as Managing director, while his responsibility for external affairs was taken over by Mr. Jose T. Pardo.
PSC sought the assistance of a friendly large Philippine organization for additional capital, who later offered a substantial semi equity term loan. With an adequate fund, the company opened its third 7-Eleven convenience store at the corner of Harrison and Libertad Streets in Pasay City in October 1985. Nagtahan Rotonda, at Santa Mesa, Manila branch is the first 7-Eleven Convenience Store built through managements clever leasing scheme where in the lender participates in store profit when an individual store achieves higher than target sales volume.
On May 19, 1988, PSC's sister company, Philippine Seven Properties Corp. (PSPC) was registered with SEC, and its incorporators were Manuel Agustines, Jorge Araneta, Jose Pardo, Vicente Paterno, and Alfredo Ramos. Through acceptance of foreign and corporate investments, PSPC was able to successfully generate additional funds which were used by PSC in the construction of six stores in 1988, and five stores in 1989.
- STUFFED PANDESAL
- PINOY RICE MEAL
- RICE MEAL EXPRESS
- ASIAN RICE MEAL
- SIKSIK MEALS
Philippine Seven Corp. (PSC) awarded "International Master Franchise of the Year" in the recent "2006 Franchise Excellence Awards" held at the Crown Plaza Galleria Manila, for its continued leadership in the Retail Food-Large Scale Category.
The award also recognizes Phil. Seven Corp.’s efforts in building stronger international strategic alliances; strengthening technical support, organizational structures and operating systems; and encouraging overseas Filipino workers and entrepreneurs to invest their money back into the country via a 7-eleven franchise stores.
The annual Franchise Excellence Awards is an event jointly organized by the Philippine Franchise Association, the Department of Trade and Industry, the Philippine Chamber of Commerce and Industry and the Philippine Retailers Association.
- "Documenting Sources from the World Wide Web" About 7-Eleven (Aug. 15, 2007)