When people hear the words “convenience store,” 7-Eleven is often the first name that pops into mind. After almost 100 years of service, the brand enjoys significant fame and customer loyalty, and is considered by many to be an American icon.
Many generations of people have fond memories of swinging by 7-Eleven for last-minute meal essentials or something cool to drink. For decades, this well-known franchise has enjoyed the number one spot as the biggest convenience store brand in the world.
Rather than being stuck in the past, however, 7-Eleven has a reputation for innovation and keeping up with changing trends. In 2015, the chain launched numerous branded products designed to compete with popular retail store offerings, from energy drinks to organic snacks. Other recent upgrades include allowing customers to handle banking needs from stores, pay through mobile apps, have products delivered to their homes and earn rewards points online.
The 7-Eleven brand offers turnkey franchising to business owners, handling virtually all arrangements for launching new stores. This includes performing demographics analysis, real estate negotiations, land purchase, building construction, equipment procurement and installation, and other pre-launch needs. After the grand opening, 7-Eleven supplies marketing services, advertising campaigns, online content, PR and advanced software that handles accounting and customer analytics.
The 7-Eleven brand name is well-known and trusted, providing near-instant acceptance in new communities. It has consistently received awards as one of the top retail franchises in the country, such as the number three spot on Forbes’ 2016 Top 20 Franchises to Start list and an appearance in the World's Top 10 Most Innovative Companies in Retail by Fast Company magazine.
The brand’s continued growth is easy to see, with it capturing roughly 28 percent of the U.S. convenience store market. New 7-Eleven stores open around the world at a rate of one every three hours. Franchisees looking to capitalize on the $680 billion that are spent every year worldwide at convenience stores may find this brand’s established reputation and the interest of consumers in fast, easy access to goods advantageous.
U.S. veterans are actively encouraged by 7-Eleven to pursue a relationship with the franchise. Some of the perks offered to service members are a 20 percent discount off the initial franchise fee, financing of up to 65 percent and access to special store financing. In many cases, veterans are not required to have previous entrepreneurial experience, only the desire to run their own business.
For other potential franchisees, having sufficient capital and net worth for the initial investment are important. Management or business experience are generally required, as is having a solid credit rating. A food service background isn’t needed, since 7-Eleven provides significant training for day-to-day operations.
Current store owners may opt for business conversion instead of traditional franchising, transforming an existing store to the 7-Eleven name. This can result in lower initial fees. Anyone interested in owning a 7-Eleven should feel comfortable with the profit-sharing form of franchising, where the brand calculates royalties based on total profits rather than net sales.
Training And Support
Training include three days of intensive classroom and hands-on training at Dallas, TX headquarters, in addition to six to eight weeks of live store training prior to location grand opening.
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