ALEXANDRIA, Va. -- 7-Eleven Inc.'s Virginia region stores have traditionally been a combination of franchise and corporate stores. After offering franchises internally, 7-Eleven will now extend its offer to the public for the first time in Virginia.
By December, 7-Eleven expects to have nearly 500 area franchisees. The retailer, with some 1,000 stores between the Washington, Baltimore and all Virginia metro areas, said that it plans to convert approximately 400 company-operated 7-Eleven stores into franchised stores over the next four to five years, [image-nocss] offering new business opportunities to local residents.
About 100 of these locations are in the northern Virginia area, primarily in Alexandria, Fairfax and Arlington counties; approximately 220 are in the Tidewater area; 60 in greater Richmond and the remaining throughout central and southeast Virginia.
We are offering the opportunity for people in the community to run their own business using a proven, successful system and with the support of the world's largest convenience retailer, said Gary Gray, 7-Eleven franchise sales director for Virginia and neighboring states.
Existing 7-Eleven store managers were the first to be invited to apply for a 7-Eleven franchise, and now the franchise opportunity is open to the public.
Last May, Lynn Chhay's Burtonsville, Md., store became the 200th franchise location with 7-Eleven in the Mid Atlantic area. The Vietnam immigrant, who began her career as a 7-Eleven sales associate in 1990 when she was a Northwestern High School (Adelphi) senior and was promoted to store manager in 1997, felt she had truly achieved the American dream, the company said.
Ron Boyles, a 20-year 7-Eleven employee and a former store manager, became a franchisee a year ago in northern Virginia. As owner and manager of the 7-Eleven store in Centerville, Va., Boyles is ready to buy a second store in Manassas and plans to promote his assistant to manage his current store.
I participated in 7-Eleven's company manager training program, so I appreciate the in-depth process everyone goes through to become a franchise owner, Boyles said. As franchisees, we are encouraged to maintain strong connections to the local community, and we actively support surrounding churches and the nearby daycare center. I'm looking forward to become even more involved.
For years, 7-Eleven has been ranked among the top franchise opportunities in the United States by numerous business publications. Most recently, Entrepreneur named 7-Eleven No. 4 in its 2007 Top 500 Franchise Opportunities. It landed in second place in Franchise Times 2004 annual ranking of top franchises. For 14 consecutive years, 7-Eleven has been listed among Hispanic's Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics, while Hispanic Trends included the company among its 2005 Top Franchises for Hispanics.
7-Eleven provides a proven business opportunity for people around the world, and one that is attainable, said 7-Eleven president and CEO Joe DePinto. As the company focuses on moving more decision-making to the stores, our franchise model gives both the local business owner and our company the opportunity for the greatest success. Franchisees truly have a vested interest in knowing their customers and communities. We believe they are in the best position to understand and respond to their local retail needs, which in turn, builds customer loyalty and sales.
7-Eleven began its active franchise conversion program in 2002 by franchising 130 company-operated stores in Maryland. In 2005, the company started converting its stores in Utah and Colorado. Besides Virginia, 188 stores in Texas are available for franchising. With the franchise approval process requiring from four to six months, Gray estimates that it will take about five years to fully complete the conversion of its Virginia stores to a franchise operation.
More than 3,650 of the 5,600 U.S. 7-Eleven stores are franchised. Of the 800 existing 7-Eleven stores in Virginia, approximately 700 will eventually be franchised. The remaining stores are already franchised, need to have their leases renegotiated or will serve as training stores.
As part of the franchise agreement, 7-Eleven leases the land, building, equipment and provides a turnkey operation for its franchisees. The average range for upfront, total investment for a 7-Eleven franchise in Virginia is between $70,000 and $250,000, depending on the store's gross profits.
Startup costs include the store's opening inventory, supplies, business licenses, permits, bonds, cash register fund and the franchise fee, although the amount may vary significantly depending on the location.
In coming months, 7-Eleven will hold franchise information open houses in the Virginia region to explain the company's franchise system and business model. Those interested in more information about the 7-Eleven franchise opportunity and to receive a franchise application, can call (800) 255-0711.
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