7-Eleven Franchise: A Comprehensive Overview
Introduction
7-Eleven is a global convenience store chain with over 68,000 stores in 18 countries. It is the largest convenience store chain in the world by number of stores. 7-Eleven stores offer a wide variety of products and services, including groceries, snacks, drinks, tobacco products, and fuel.
History of 7-Eleven
7-Eleven was founded in 1927 in Dallas, Texas, by Joe C. Thompson. The store was originally called Tote’m Stores and sold ice, milk, bread, and eggs. In 1946, the company changed its name to 7-Eleven because it was open from 7am to 11pm.
7-Eleven began franchising in 1964. The first franchise store was opened in El Paso, Texas. Today, there are over 56,000 7-Eleven franchise stores worldwide.
7-Eleven Franchise Model
The 7-Eleven franchise model is a proven business model that has been successful for over 90 years. Franchisees benefit from the company’s strong brand recognition, extensive marketing support, and proven operating systems.
To become a 7-Eleven franchisee, you must have a minimum net worth of $250,000 and liquid assets of $100,000. You must also have experience in the retail or convenience store industry.
The initial franchise fee for a 7-Eleven store is $40,000. The ongoing royalty fee is 5% of gross sales.
Benefits of Owning a 7-Eleven Franchise
There are many benefits to owning a 7-Eleven franchise, including:
- Strong brand recognition: 7-Eleven is one of the most recognizable brands in the world. This gives franchisees a significant advantage over independent convenience stores.
- Extensive marketing support: 7-Eleven provides franchisees with a comprehensive marketing program that includes national advertising, local marketing, and online marketing.
- Proven operating systems: 7-Eleven has developed a proven operating system that helps franchisees run their businesses efficiently and profitably.
- Training and support: 7-Eleven provides franchisees with comprehensive training and support. This includes training on store operations, marketing, and customer service.
- Exclusive territory: 7-Eleven franchisees are granted an exclusive territory in which to operate their store. This protects franchisees from competition from other 7-Eleven stores.
Conclusion
The 7-Eleven franchise is a proven business model that has been successful for over 90 years. Franchisees benefit from the company’s strong brand recognition, extensive marketing support, and proven operating systems. If you are looking for a franchise opportunity with a high potential for success, then the 7-Eleven franchise is a great option.
