Existing 7-Eleven store managers were the first invited to apply for a 7-Eleven franchise and many have taken advantage of the opportunity. The offer is now available to the public.
"7-Eleven's movement to convert its company-operated stores offers [image-nocss] an opportunity for people in the community to franchise their own business using an established, successful system supported by a world-class retailer," said Desi Desormeaux, 7-Eleven franchise sales manager for Virginia, Washington, D.C., Maryland and North Carolina.
Dallas-based 7-Eleven provides the land, building, equipment and a turnkey operation for its franchisees. The average upfront, total investment for a 7-Eleven franchise is between $175,000 and $250,000, although this amount may vary significantly by store and region of the country. This investment is based on the store's actual sales history and includes the store's inventory, supplies, business licenses, permits, bonds, cash register fund as well as a franchise fee, the amount of which may vary depending on the store's location.
"7-Eleven offers a proven business model and well-recognized brand," said Desormeaux. "Ours is an entry-level franchise that provides a variety of services for a new business operator. Franchisees have a vested interest in knowing their customers and communities and are in the best position to understand and respond to their local retail needs, which builds customer loyalty and sales."
Unlike other franchise models that take a percentage of sales, 7-Eleven shares in the store's merchandise gross profits.
Separately, 7-Eleven also is expanding through its Business Conversion Program (BCP), where independent business owners interested in converting their retail operation to a 7-Eleven store can apply to qualify. BCP provides many similar benefits as 7-Eleven's traditional, individual-store franchise model, while allowing an independent store operator with at least 1,800 square feet of selling space the opportunity to own or lease his store site. Upon agreement, 7-Eleven installs proprietary equipment and assists in converting the store to a 7-Eleven-branded location. (Click here for previous CSP Daily News coverage of the BCP.)
Dennis Lane, 34-year 7-Eleven store franchisee and chairman of the National Coalition of Associations of 7-Eleven Stores, said, "The power of a 7-Eleven franchise over other convenience store franchise options is that it is one of the most recognizable and strongest trademarks and brand names in the world. 7-Eleven originated the convenience store concept, and has the infrastructure, tools, technical support and everything necessary to support the franchisee."
7-Eleven operates, franchises or licenses more than 7,500 7-Eleven stores in North America. Globally, 7-Eleven operates, franchises or licenses more than 34,800 stores in 17 countries. During 2007, 7-Eleven stores worldwide generated total sales of more than $46.6 billion.
Click herefor previous coverage. Also click here.
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