Three C-store Companies Take Spots on Top Franchises List
NATIONAL REPORT — Three high-performing convenience store retailers appeared on the 2024 Franchise Times Top 400 list, putting them among the top leaders in franchise retail as a whole — not just the c-store channel.
7-Eleven Inc. and Circle K appeared in the top 10 at No. 2 and No. 9, respectively, while ampm made ranked at No. 56.
The exclusive annual list ranks the largest U.S.-based franchise systems by global systemwide sales. The project is the result of a five-month research and reporting effort that leads to the most credible and objective franchise ranking available, according to the publication.
7-Eleven again trailed McDonald's with $97.9 billion in annual sales in 2023, up 4.7% from the previous year, and 82,755 units, down 1.6%. Circle K saw growth in both annual sales ($17.7 billion, up 5.2%) and units (13,734 units, up 12.8%).
ampm saw $1.67 billion in annual sales, just barely down 0.1% from last year, while unit growth increased 1.2% to 1,020 units.
The 200 largest franchise brands within the Top 400 list saw total sales grow to $707.1 billion globally last year, up from $666.9 billion in 2022. Nearly all categories saw sales growth, with real estate and business services as the only exceptions. Meanwhile, foodservice had a strong year despite high inflation earlier in 2023.
"Restaurant brands collectively generated $457.2 billion in sales for 2023, up 8.3% from the $422 billion in 2022," wrote Matthew Liedke, senior writer for the Franchise Times. "The category's ongoing growth was reflected at the top of the ranking, with seven of the top 10 brands being restaurants, and all holding on to their rankings from last year. This was despite the inflation rate for food away from home starting 2023 at 8.2%, though it fell to 5.2% by year's end."
Irving-based 7-Eleven Inc. operates, franchises and/or licenses more than 13,000 stores in the United States and Canada. In addition to 7-Eleven stores, the retailer operates and franchises Speedway, Stripes, Laredo Taco Co., and Raise the Roost Chicken and Biscuits locations.
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Laval-based Couche-Tard is a global leader in convenience and mobility, operating in 31 countries and territories with more than 16,700 stores, of which approximately 13,100 offer road transportation fuel. With its well-known Couche-Tard and Circle K banners, it is one of the largest independent convenience store operators in the United States.
The first ampm store opened in southern California in 1978. Today, there are more than 1,000 convenience stores throughout the West Coast, serving more than 3,500 different products. The brand is wholly owned by bp.