Prime time group, inc. Corners market on convenience in Puerto
Rico!
PRTH, Through Its Affiliate Buys Puerto-Rico-7, Which Is
Exclusive Licensee for 7-Eleven Convenience Stores in Puerto
Rico, Over 300 New Stores Projected!
When talent, track record and timing come together with strong
market demand, the result of all this convergence will be very
convenient indeed for the Commonwealth of Puerto Rico -- and
that is exactly the result Prime Time Group
(www.primetimestores.com) is looking for, both with its recent
purchase of 14 Puerto Rico-7 stores, and most importantly as the
exclusive licensee for 7-Eleven convenience stores throughout
Puerto Rico.
With four million residents and the most vibrant economy in the
Caribbean region, Puerto Rico is a prime investment target for
U.S. investors. When Prime Time Group, Inc., through its
affiliate, bought Puerto Rico-7, it took over their fourteen
7-Eleven stores in the greater San Juan area and announced its
ambitious plans for expansion.
"The Puerto Rican convenience store market is virtually
untapped," said Johnny Ray Arnold, chairman and CEO of Prime
Time Group. "We are now positioned to leverage 7-Eleven's
successful franchise formula with Puerto Rico's dynamic economy
in order to aggressively grow to 300 stores throughout Puerto
Rico."
Arnold's projections, which include growing revenues from an
existing $18 million to over $300 million, are based in part
upon studies conducted by 7-Eleven that found parallels between
demographics in Puerto Rico and the Dallas Metro area, where
7-Eleven has experienced extraordinary success. "With 1,000
people per square mile, Puerto Rico is ten times more densely
populated than the U.S.," said Arnold, adding, "the potential
for growth in the convenience store sector is extraordinary."
With over 25 years of experience in the convenience store
industry, during which he controlled 160 stores in six U.S.
states, Arnold is well positioned to bring 7-Eleven to Puerto
Rico's emerging market. Prime Time Group has divested itself
from all its U.S. holdings in order to devote its resources to
7-Eleven expansion opportunities in the U.S. commonwealth.
Prime Time Group, Inc. has developed a marketing strategy
designed to build 7-Eleven's brand recognition and is building a
central distribution center to cut costs and improve profit
margins. "Our goals are clear cut," said Arnold. "We are focused
on opening new stores while maintaining the history of success,
quality, and customer satisfaction that are the cornerstones of
7-Eleven."
7-Eleven convenience stores outside of the continental U.S. have
a proven track record of success. In 1989, for example, the
Charoen Pokphand Group of Thailand became a 7-Eleven licensee
and has grown to over 2,700 stores that generate $985 million in
annual sales.
With 29,500 stores worldwide, over 10 billion transactions every
year, and per store revenues that are 30 percent higher than the
industry average, the Dallas-based 7-Eleven is the recognized
leader in the highly profitable convenience store industry. The
company has 23,600 licensee-owned and operated stores in the
U.S., its territories, and 15 foreign countries, with a new
7-Eleven franchise opening approximately every four and a half
hours.