Today 7-eleven is one of the largest franchise chains with around 38,000 outlets throughout the world. The company was founded in 1927 and it started franchising in 1964. Today it has around 6,378 U.S franchises, 28,763 overseas franchises and 462 company owned stores.
7 eleven was ranked 3rd in Franchise 500 rank in 2010, 30th in 2009, 1st in 2008 and 4th in 2007. Among the fastest growing franchises, 7 eleven was ranked to be 25th in 2010, 73rd in 2009, 2nd in 2008, and 38th in 2007. It has grown a lot importance among franchisees.
There have been many ups and downs over the years for the 7-eleven business, the worst time was during the 1980’s when they faced a financial downturn. They went bankrupt and were actually saved by one of the franchises.
What does 7 eleven offer?
7-eleven pays serious attention to its customers, operational excellence, growth and shared commitment. 7-eleven believes that its customers should be satisfied in every way and so pays special attention to them.
Today most of the 7 eleven shops are open 24 hours. The 7 eleven franchise process includes many steps; royalty arrangement, making the investment, step by step timeline, and lastly candidate profile.
7-eleven provides its franchisees with a a multitude of support options such as: business consultancy, book keeping and accounting services, merchandising support, advertising support, training to the employees, help with the equipment and property, product distribution, and technology.
There is a separate department in 7 eleven which is dedicated to help the franchisees; a toll free phone line id provided to everyone. They provide help in grand opening of the shops, in safety and security procedures, purchasing cooperatives, Internet use, meetings, newsletter, regional advertising, and in in-house marketing etc.
Currently within the USA 7-eleven is looking for franchises mainly in U.S, in Arizona, Maryland, California, New York, New Jersey, Texas, Virginia, Washington, Ohio, Virginia, Indiana, Florida, Connecticut, Colorado etc.
Costs and Requirements of associated with running a 7-eleven Franchise
- The costs associated with acquiring a franchise are a total investment of $40,500 – $775,300, a franchise fee of $10,000 – $611,600. The ongoing royalty fee varies dependent on the individual franchise; the term of agreement is 15 years which is renewable.
- To qualify for a 7 eleven franchise, you should have a net worth of $ 127,000 and some liquid cash. The individual should have prior retail experience, business experience and customer service skills.
- Rigorous training is provided at the local training center for 6 weeks and around 7- 10 employees are needed to run the franchise successfully.
- The franchisor has around 1000 employees and almost 18 employees in the franchise department. 7 eleven has dedicated the best employees to the franchise department as they believe that the franchise department is the most important department. They can grow expand through out the world through franchising.
In order to contact 7 eleven, the address is One Arts Plaza, 1722 Routh St No 1000, Dallas, Texas 75201. Phone Number: (800) 255 0711