Tel Aviv's corner grocery market is witnessing the growth of one particular firm: AM-PM. The company currently owns 10 branches in the city center, seven of them 24-hour kiosks, with a further three in minimarket format.
AM-PM plans to open another three branches before the end of the year. Two of these are in the construction stages, while the location of the third has yet to be decided.
Owner Guy Edri said that the company was running full steam ahead, but chose its sites carefully, on the understanding that the location would be suitable for a store open 24 hours a day, 7 days a week.
Edri set up the chain with childhood friend Gal Belinkis and his brother, Ran Belinkis. The company's rapid growth testifies to a successful venture, and market sources estimate that
AM-PM's annual sales started at NIS 14.4 million in 2001, more than doubled to NIS 30 million in 2002, reached NIS 65 million last year and could top NIS 100 million in 2004.
The owners do not intend to rest on their laurels though, with plans to add food delivery services too. They are on the lookout for offices - of which there are plenty in central Tel Aviv - that send out for their food supplies.
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