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10 January 2013

Cheers announces new franchise scheme

-Franchise scheme to encourage entrepreneurship and aid in Cheers' expansion

Cheers, the convenience store chain under NTUC FairPrice, today announced a new franchise programme, at the first franchised Cheers store at Choa Chu Kang. The franchise programme seeks to encourage entrepreneurship and boost business growth in order to provide more convenience and accessibility to customers.

FairPrice CEO, Mr. Seah Kian Peng said, "Cheers has been growing steadily since it was set up 15 years ago. It is now an established outlet with over 130 stores strategically located island wide. With the introduction of this franchise programme, we hope to encourage the spirit of entrepreneurship among Singaporeans and at the same time inject new energy into and accelerate the growth of the Cheers brand. As a home grown chain, Cheers will continue to invest in technologies and training so as to enhance productivity and efficiency. We target to franchise 60 to 70 percent of Cheers stores over the next 3 years."

The franchise programme is open to Singapore citizens and permanent residents aged 25 years old and above. This programme applies to selected existing stores that have been in operation by Cheers for at least a year. The franchisee will receive a three-month comprehensive training programme tailored for either new or experienced entrepreneurs. They will also receive ongoing guidance and support from an experienced team at Cheers in areas such as financial management, service training, HR management and stock-taking.

Franchisees can be assured of a ready supply of products and services which is supported by a robust supply chain management system. All above-the-line and below-the-line marketing efforts will be provided by Cheers. The cost of a franchise store ranges between S$40,000 to S$200,000.

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