Innovation and growth are priorities for Valparaiso, Indiana-based Family Express Corp. The chain of 81 stores is committed to the convenience-retail model, planning a $100-million expansion in the near future.
“It goes without saying that we feel comfortable with the future of the industry,” said Gus Olympidis, president and CEO of Family Express. “Our primary concern moving forward is sourcing certain components, such as electrical switchgear panels and tanks, and not about the wellness of the industry.”
He said they are in the process of exploring modularized methods of constructing its 6,000-square-foot masonry building, to accelerate the development schedule. “This doesn’t mean that we are oblivious to the expected decline of the cigarette category or the impact of CAFE [corporate average fuel economy] standards on future fuel volumes,” Olympidis said. “We simply feel well positioned to grow and prosper. Especially, since our company has been debt-free for the last three years.”
Family Express ranked No. 84 in this year’s Top 202 list with 81 locations.
The chain is moving rapidly to add kitchens in most of its stores. Last year, its same-store proprietary foodservice, Cravins-To-Order, grew by 39%. By the end of the year, the chain is expected to meet its goal of having half as many car washes as they do stores. Additionally, they report strong results from overlaying car wash subscriptions through personalized loyalty initiatives and mobile wallet technologies.
Family Express unveiled a new contemporary prototype ahead of its ambitious expansion plans. For the last three decades, the company’s exterior architecture was characterized by a classical, colonial look. The new prototype has a contemporary flair, and it is esthetically more inviting to a younger demographic, the company says.
“The new prototype is challenging a successful tradition. Very much like sending one of your children to college, though you miss them, you know it will guarantee a better future,” Olympidis said. “The contemporary feel of the new look is more inviting to a younger consumer, and it is transitioning our brand to the future ahead of major expansion to new-to-industry stores.”
The new store design will feature a major focus on foodservice and a separate counter for traditional sales. The typical Family Express store offers indoor and outdoor seating, a state-of-the-art car wash utilizing the latest mobile wallet technology and a pet wash.
Family Express said it would develop over 20 new-to-industry sites that will be serviced by its central distribution facility in Valparaiso, Indiana. “Our company has been debt-free for a number of years, even though our past capex has been uncharacteristically aggressive,” Olympidis said. “We feel empowered by our lack of leverage and our liquidity, as our channel is navigating through an ever-increasing interest rate environment.”
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