Buy Seven Eleven Franchise
Disclaimer:The initial franchise fee may vary for each store. The method of computing the franchise fee is fully disclosed in the Franchise Disclosure Document. Franchisees who are selling the franchise interest in their 7-Eleven Store may also seek and additional payment. This is not an offer to sell or solicitation of an offer to buy a franchise. An offer is made by prospectus only. Franchises are not available to residents of North Dakota, South Dakota, Minnesota and Hawaii. *For qualified applicants only. Maximum discount of $50,000. Applicable to the first store you franchise.
buy seven eleven franchise
7-Eleven is the largest petrol and convenience retailer in Australia, based on market share. The company is privately owned by the Withers and Barlow families, who have a license to operate and franchise 7-Eleven stores in Australia from the US based 7-Eleven Inc. The first Australian store was opened in August 1977. Today 7-Eleven operates more than 700 stores in Victoria, New South Wales, the Australian Capital Territory, Queensland and Western Australia.
I became a 7-Eleven franchisee eight years ago with no prior experience of running a business. Over the years the role has helped me to grow into a stronger, more confident and independent woman.
7-Eleven, a convenience store established in 1927, offers aspiring entrepreneurs an opportunity to be a a part of their successful business model by becoming franchisees. They began franchising in the United States in 1964. As of 2010, there are more than 6,800 7-Eleven stores in the U.S. and Canada and more 36,000 stores worldwide. They have a strict set of requirements in place prospective franchisees must follow before being granted a store.
Prospective 7-Eleven franchisees must submit a franchise application. Applications are available on the 7-Eleven website. Before submitting a request for an application, 7-Eleven asks four questions about your age, residency, experience and credit score.
Applicants must be at least 21 years of age to be eligible to become a franchisee for 7-Eleven. In addition to an age requirement, 7-Eleven prefers that their franchisees have retail, management or customer service experience with a company within the United States.
Although 7-Eleven doesn't require applicants to be United States citizens, they do require applicants provide proof that they have permanent residency in the United States. If you cannot provide proof, your application for a 7-Eleven franchise cannot be approved.
If your initial application is accepted, 7-Eleven will contact you to schedule an interview with one of their sales managers. The sales manager will review the 7-Eleven franchise program requirements, as well as The Franchise Disclosure Document. Franchise, an online resource for individuals interested in franchises, cites that there are 23 categories of information franchisers must provide potential franchisees before the final franchise agreement is presented for signing.
Prospective franchisees are required to complete a franchise assessment test and a franchise disclosure test before moving onto the next phase of the application process. Those who pass the assessments can move forward to selecting a store.
The location of a business is important to its success, so 7-Eleven shows prospective franchisees potential locations in their areas. You can visit each available store to get an idea of surrounding businesses and the community.
Whether you own a franchise or build a business from the ground up, business planning is an essential step in the process. 7-Eleven works with prospective franchisees to develop a business plan and a budget for their businesses. With a business plan and budget in place, the next step is a final interview with a manager in your area.
One of the final steps in becoming a 7-Eleven franchise owner signing the franchise agreement. You'll also get guided through the process of applying for necessary licenses and paying franchisee fees.
7-Eleven requires franchisees to pay a one-time initial franchise fee, which may range between $50,000 and $350,000. The fee is based on location and the previous gross profits of the location, if applicable. The initial fee includes a down payment on supplies, inventory, permits, licenses, bonds and startup cash for the register. Additional one-time fees ranging from $10,000 to $40,000 may be added for locations that have gas stations.
Miranda Brookins is a marketing professional who has over seven years of experience in copywriting, direct-response and Web marketing, publications management and business communications. She has a bachelor's degree in business and marketing from Towson University and is working on a master's degree in publications design at University of Baltimore.
Convenience stores have become an integral part of American culture, with the most ubiquitous being 7-Eleven. According to the 2022 NACS/ NielsenIQ Convenience Industry Store Count, 148,026 such stores are operating in the United States. It is no wonder the 7-Eleven franchise leads the industry, offering convenience that goes beyond just snacks and drinks.
7-Eleven franchises and other competitors have been getting hit because of online sales. 7-Eleven is overwhelmingly the largest convenience store in the United States, with around double the stores of the second chain, Alimentation Couche-Tard Inc.
The 7-Eleven company is clearly not just confined to the United States. The country with the most 7-Eleven franchises, even more than the United States, is Japan. Of the roughly 50,000 convenience chains in Japan, just over 20,000 are 7-Eleven franchises.
Of course, cultural differences may drive many consumers to feel differently about stores in different countries. 7-Eleven is said to have almost evolved into a bar overseas, especially in Asian countries. Customers can enter a 7-Eleven franchise store, grab a drink, and head to the streets for a relaxing streetside massage.
Franchise owners should have different expectations everywhere. A franchise of 7-Eleven in the heart of a city could run you close to 3 quarters of a million to get up and running but on average, according to mobile cuisine, the average 7-Eleven franchise does 1.4 million sales a year.
Of course, 1.4 million in sales does not translate to nearly that much in profit. Furthermore, rural 7-Eleven franchise stores would likely drastically bring down this number while their city counterparts could be many times the average.
Gross profit could be high and while it may take some time to recoup your initial total investment, it is clear why the 7-Eleven franchise is only of the biggest and most successful franchising across the globe.
Store managers can work upwards of 90 hours a week to save employment costs or must pay employees to shift work all around the clock. To add to this, the rising cost of employment and the opportunity cost for operators to work many hours at their 7 Eleven store may scare potential franchisees away.
Other convenience establishments such as Wawa, Circle K, and Speedway may be competing with the 7Eleven franchise in certain areas, making it more challenging to profit.
Operating and owning your own business opens you up to tremendous risk in other ways. 7-Eleven was hit hard during the coronavirus pandemic. And franchisees had little opportunity to make money from their stores while almost everything was shutting down.
Their franchisees had long-term lease agreements they could not get out of or needed to pay mortgage and rent. Sunk costs and other fees are present in almost any business. And with something risky like a convenience store, they become even more present.
Owning a franchise or any business or asset has inherent advantages and risks. 7-Elevens are the same. If you are willing to put in work and simultaneously take on risks, it may be a good route to take for financial victory.
Taking alternatives, like investing in a franchise opportunities that suits your passion and interest, can be the best way for you to start your entrepreneurship journey. Speak with a franchise consultant to help you find this type of franchise.
In 2017, a group of 7-Eleven franchise owners sued 7-Eleven alleging their franchise agreements misclassified them as independent contractors in violation of the Massachusetts independent contractor law.
But the lawsuit between 7-Eleven and the franchise owners is not over yet. 7-Eleven has pursued its own claims against the franchise owners and other third-party defendants in the action, including a breach of contract claim, which remain pending.
Franchisors should assess their agreements and relationships to determine whether a legitimate franchise relationship exists and ensure compliance with the ABC test if they want to continue using the independent contractor model.
No matter where you are in the United States, there is a high probability that you have seen a 7-Eleven convenience store. This American multinational chain has satisfied franchise owners for more than 73 years with its sustainable, profitable, and growing business model.
Fransmart is the leading source of updated and detailed information on franchising. We provide potential franchisees with the most up-to-date information on franchising, how to start a franchise, franchise fees, and much more. This post is a complete guide about buying a 7-Eleven franchise taken from their FDD (franchise disclosure document).
The 7-Eleven company has come a long way from just being a convenience store. When The Great 7-Eleven Takeover happened nine years ago, the company was completely different. Before Seven & I Holdings acquired 7-Eleven, it was symbiotic with its franchisees. However, new management and training encouraged the staff to implement an aggressive growth machine that put profits before franchising.
When buying the franchise, you should be aware of different costs and expenses. A 7-Eleven store can vary significantly in price, depending on several factors including location, products sold, and other factors. Depending on the model and location, an average 7-Eleven store can range from $500,000 to $1,000,000. 041b061a72