7 ELEVEN Franchise Startup Cost, Profit Margin, Revenue and Locations
Is 7 eleven a good franchise to own? Have you started having interest in 7 eleven franchise business and you are doing research on other successful franchise businesses? Maybe you are interested in becoming a franchisee of a very successful food franchise company like 7-Eleven Franchise. Whatever interest that brought you to this post, you’re in the right place. I know you want to know how to franchise 7 eleven.
In this post, I will be revealing everything you need to know about franchise 7 eleven , one of the world’s largest franchise business or operator.
Description and Operation of 7-Eleven Franchise
7-Eleven was founded 89 years ago, precisely 1927. The company has it headquarter in Dallas, Texas, USA. 7-Eleven is one of the largest international convenience stores presently. It was named “Totem’s Store” by the founder and franchise owner named Joe C Thompson.
The reason the company was later changed from Totem to 7-11 Franchise was because, after the company started seeing progress, they started operating from 7:00 to 11:00, from Monday to Sunday. This happened in 1946.
This company was started by an employee of Southland Ice Company in 1927 by John Jefferson Green who began selling bread, eggs and milk using one of the ice house storefront with permission from Joe C Thompson, one of the founding directors of Southland Ice Company.
In 1928, a Totem’s pole was bought by a Southland executive and placed in front of his store. This action raised the brand of 7-Eleven as it then serves as a marketing tool and attracted great customers to the company. Immediately, the other executives took the idea to have a totem pole in front of every store in Dallas, Texas.
That same year, the company ventured into gasoline station’s business, having different locations in Dallas. Joe C Thompson made sure all the gasoline station operated the same quantity and services by training the staff and providing them with uniform.
Southland Ice company was bought and renamed to Southland Corporation when Joe C Thompson saw that selling milk and bread in convenience store, would save customers from travelling long distance. In 2010, Entrepreneur’s Magazine ranked 7-Eleven No 3 spot in her 31st Annual Franchise 500. This was the most and first comprehensive ranking in the world.
Presently, 7-Eleven has launch it iPhone and Android application. This Slurpee drink app help people find 7-Eleven franchise stores with direction. 7-11 has more than 57,000 convenience stores around the globe.
Products and Services
711 Franchise are into; carbonated drinks, coffee, gasoline, financial services, dairy products, bakery items, product delivery services and many others.
7-Eleven offers franchising opportunities and financial incentives helping franchisees succeed as a 7-Eleven partner. Operating as a 7 eleven franchisee reduces the risk of starting your franchise business from the scratch because 7-Eleven offers so many benefits for investors who are interested in owning her franchise.
The benefits include; extensive 7 Eleven seminar and training with weekly support, zero franchise fee, providing the location/store, equipment and land.
How to get 7 eleven franchise: Franchise For Sale
Before you can be accepted as a candidate for 7-Eleven USA franchise, you must possess some skills such as; service oriented, self-driven entrepreneurship, hard working, strong entrepreneurial mindset, staff motivation and capable of funding the investment even after you buy a 7 eleven franchise .
7 Eleven Franchise Cost
So how much do I need to buy a 7 eleven franchise?
Investing into 7-Eleven franchise can be costly ranging from $70,000 to $500,000 which include the equipment and facilities, operational store, furniture and air-conditioning system, an average price when owners put 7 Eleven franchise for sale.
How much does it cost? Aside the high startup capital, you are assure you will make huge returns from your investment. Like I wrote earlier in this post that they do give extensive training and offer 24 hours support. They also provide promotional support and advertisement.
Becoming a 7-Eleven franchisee means you have the license to use their trademark and build as many 7 Eleven franchise locations in a particular territory as you would like. Hope you know it also means you will be paying them.
If you’re a 7 Eleven gas station franchisee and you want to operate one in your country, there is a one time 7 Eleven franchise fee ranging between $10,000 to $40,000. 7-Eleven will handle the permits from local authorities and state, but you are to cover the fees involve.
As a franchisee of 7-Eleven franchisee, you can only operate on existing location given to you by the company. You have no right to open your own location. This is contained in the 7 Eleven franchise agreement.
You can also qualify for 7-Eleven international franchise if you are over 21 years of age and have not been filed for bankruptcy seven years before the date of application.
A franchisee pays between 20%-30% of their yearly 7 Eleven Franchise income. The higher your gross 7 eleven franchise profit margin, the higher the percent charge.
Here are the few things you have to do to become a franchisee of 7-Eleven inc. franchise company.
7 Eleven Franchise Requirements
1. You have to find their online 7 Eleven franchise application form from their site and fill it. It’s very short and simple. This allows them to get how much 7 Eleven franchise information you know, the problems, challenges and common complaints as well as prepare you for interview questions.
2. After submitting the form, you will be scheduled for an offline interview. Come along side with your resume and a sample 7 eleven franchise business plan.
3. Lastly, you will have to go through their training course after you must have attended the final interview. The training course is for enlightenment on how you can run your franchise successfully.
After completing the training course and the construction of your store (by 7-Eleven), you will be ready for 7-Eleven franchise business.
7-Eleven is one of the most popular franchise chains of convenience stores as well as gasoline stations. The company is an iconic brand and one of the top franchises across the world. Their franchise system is turnkey: what this indicates is that the store, equipment and construction materials are ready to go, so it doesn’t take a long time to startup. 7-Eleven can afford you the opportunity to express your entrepreneurial prowess while following a standardized startup process. Now the question is how much is a 4-Eleven Franchise?
FRANCHISE INFORMATION ABOUT 7-ELEVEN INC.
The origin of 7-Eleven started in the year 1927, when a staff of the Southland Ice Company in Texas started selling bread and eggs and milk as a combination to the ice blocks. That particular employee was Joe C. Thompson later on purchased the Southland Ice Company. That was the opening of convenience stores began.
The name 7-Eleven was coined in the year 1946, this was when the store’s working hours was extended to 11p.m.. Although their stores currently run a 24-hour shift, the name still sticks.
DOES 7-ELEVEN SELL FRANCHISE?
Starting up a franchise of an established company reduces the bulk of the risk you can encounter as an entrepreneur when you start your own company from the scratch. 7-Eleven being an established convenience store can help you achieve your dreams in a short period of time. Now you might want to know if 7-Eleven Sell franchise. Yes they do and you are definitely assured great success when you buy into their franchise opportunity.
THE 7-ELEVEN FRANCHISE OPPORTUNITY
7-Eleven offers multi-store and single-store franchising opportunities and they have a wide variety of financial programs to assist you in changing your dreams into reality. The company is known for the conscious steps they have taken into ensuring that their franchisees get the best from their deal.
For instance, unlike most other franchise systems that requires the franchisees to make royalty payments based on a fraction or percentage of base sales. The 7-Eleven system differs from this, when you buy into the 7-Eleven Franchise opportunity, you are given the opportunity to share the gross profits – what this means is that the financial returns you get and what 7-Eleven gets is connected to profitable sales and not just ordinary sales.
WHAT QUALIFICATION DO YOU NEED TO BECOME A 7-ELEVEN FRANCHISEE?
To qualify as a 7-Eleven franchisee, you will need to possess the ideal combination of personal qualities, financial standing and the professional experience to run a 7-Eleven franchise. You will need to understand that 7-Eleven is committed to promoting diversity in their franchise system.
HOW MUCH CAN I MAKE AS A 7-ELEVEN FRANCHISEE?
This question might be quite difficult to give a precise answer. But how much you make as a 7-Eleven franchisee will depend on so many factors. But the good news is that your earning can be so massive as much as you want it to be. Here are some factors that can determine how much success you attain as a 7-Eleven franchisee.
- The type of Franchise you choose is a very important factor that will determine your earning potentials. You have to consider a business that offers great services and products that are in hot demand. 7-Eleven offers you that kind of platform
- The location of your franchise is as well important in determining your earnings. You have to ensure that your store is located in a community that needs the kind of services that you intend to render. You have to be conscious that traffic brings in sales and sales keeps your franchise thriving.
- Ability to build strong customer loyalty also goes a long way to determine the eventual success of your franchise business. Your customers deserve to be treated like family and when you do this, you are sure to get repeated purchases from them.
WHAT IS THE COST OF A 7-ELEVEN FRANCHISE?
Before you can consider buying into the 7-Eleven Franchise opportunity, you need to acquaint yourself with the financial implications of the franchise. A big question now is, what is the cost of a 7-Eleven Franchise?
For the company to even consider you as a prospective franchisee, you need to present evidence of the capacity to draw up finances up to the tune of $1,600,000, which will serve as the initial investment required to set up your franchise. Your net worth requirement is also expected to be in the tune of $100,000 to $250,000 and then a liquid cash requirement of about $50,000 to $150,000.
WHAT IS 7-ELEVEN INITIAL FRANCHISE FEE
As it is the norm with all franchises, you will also need to make an initial 7-Eleven Franchise fee. This will be in the tune of $10,000 to $100,000
DOES 7-ELEVEN OFFER FINANCING?
Financing is very important in the success of your store. Depending on your capacity, you can either to self-finance or get a loan from an institution. As a franchise that caters for the wellbeing of its franchisees, 7-Eleven offers an internal financing scheme that will allow you to have 65% of their initial franchise fee. You won’t see this kind of support that much in the franchise industry. Additionally, the company also offers limited-time promotions and plans to make financing a franchise quite easier for approved applicants.