CHICAGO -- As reported in CSP Daily News yesterday, BP has put 43 sites in the Chicago metropolitan area to be re-imaged or developed as ampm franchise convenience stores with BP-branded gas stations.
Franchising these sites as ampm is in line with BP's strategic plans to expand and grow the brand to reach more consumers with its products and services.
Our goal is to build and recruit a franchise network East of Rockies that complements our already distinctive BP brand, said Ben Amante, BP's vice president of franchising in the [image-nocss] United States. We are offering franchise buyers the rare opportunity to purchase a franchise with real estate rights. We also see an opportunity to reflect the diverse communities where we operate by appealing to minority business people looking to franchise in the community. We look forward to building a strong network of franchisees to help us grow our business and deliver our products and services to more consumers.
Of the 43 sites to be branded as ampm franchise stores with BP gasoline stations, 36 are existing BP-branded sites. These 36 include 18 sites that will have c-stores rebranded to ampm prior to closing; eight sites that the buyers will initially operate under current BP branding and complete the conversion and rebranding to ampm after closing; and 10 sites that will require complete redevelopment before opening with the ampm brand; closings for these sites will occur after buyers have obtained all necessary construction permits.
Additionally, BP is offering seven vacant sites for construction by buyers of new ampm retail franchises with BP-branded stations.
In addition to the ampm franchise sites, BP is offering 18 properties (including the seven vacant sites and one of the redevelopment sites described above which are being offered either for franchise or commercial use) for other commercial use, including the potential operation of debranded stations on two of these properties.
With the introduction of ampm in the eastern United States, including in Chicago, Indianapolis and Pittsburgh, BP is leveraging its significant ampm franchising experience and market recognition in the western United States and internationally. There are about 1,000 franchisee-owned or -operated ampm franchise stores in the western United States. Internationally, there are approximately 2,000 ampm stores in Brazil, Japan and Mexico.
While similar, the eastern and western U.S. ampm franchise offers are distinct from one another and subject to separate franchise documentation.
The BP brand is distinctive in the Chicago metro area and the ampm brand is well regarded said Hope Mineo, managing director of Chicago-based NRC Realty Advisors LLC (NRC), which has been retained to coordinate and execute the sale for BP.
She said BP's ampm convenience store has been ranked 51st in Entrepreneur magazine's 28th annual Franchise 500, which measures the financial strength and stability, growth rate, system size and number of years in business of franchises.
The ampm franchise was the only convenience store owned by an integrated oil and gas company to make the list, Mineo said. We are thrilled to continue to assist BP in accelerating the expansion of its ampm brand in Chicago.
The BP sites are being sold through NRC's sealed-bid sale process. The deadline is May 8, 2007. For bid submission guidelines and further information regarding the BP sites, contact NRC at (800) 747-3342, ext. 703, or by visiting www.nrc.com/703.
Prospective franchisees and BP dealers that are interested in submitting bids for Chicago sites are required to attend a complimentary seminar in Chicago on April 17, 2005. Representatives from BP and NRC will host the seminar, which will provide essential information related to BP franchising and fuel supply and the NRC sealed-bid process.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.