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7-Eleven Continues To Convert Most Company Owned Stores To Franchise Operations

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The Tampa Tribune

Published: November 16, 2008

7-Eleven, Inc., the world's largest convenience retailer and ranked among U.S. top franchisors, is continuing its plan to convert the vast majority of its company-operated stores into franchised operations in the U.S. by 2012. The conversion of company-operated stores in some markets began in 2006. Approximately 4,100, or 75 percent, of 7-Eleven, Inc.'s more than 5,600 U.S. stores are now franchised.

According to Dennis Lane, 34-year 7-Eleven store franchisee and chairman of the National Coalition of Associations of 7-Eleven Stores, 7-Eleven is a great option for those considering purchasing a franchise.

"The power of a 7-Eleven franchise over other convenience store franchise options is that it is one of the most recognizable and strongest trademarks and brand names in the world," he said. "7-Eleven originated the convenience store concept, and has the infrastructure, tools, technical support and everything necessary to support the franchisee."

Existing 7-Eleven store managers were the first invited to apply for a 7-Eleven franchise and many have taken advantage of the opportunity. The offer is now available to the public. Those interested in learning more about franchise opportunities can go to 7-Eleven.com, click on the Franchising tab to find information on 7-Eleven's upcoming franchisee opportunity seminars, or they can call 1-800- 255-0711.

"7-Eleven's movement to convert its company-operated stores offers an opportunity for people in the community to franchise their own business using an established, successful system supported by a world-class retailer," said Gary Gray, 7-Eleven franchise regional sales manager for Florida.

7-Eleven provides the land, building, equipment and a turn-key operation for its franchisees. The average up-front, total investment for a 7-Eleven franchise is between $175,000 and $250,000, although this amount may vary significantly by store and region of the country. This investment is based on the store's actual sales history and includes the store's inventory, supplies, business licenses, permits, bonds, cash register fund as well as a franchise fee, the amount of which may vary depending on the store's location.

"7-Eleven offers a proven business model and well-recognized brand," said Gray. "Ours is an entry-level franchise that provides a variety of services for a new business operator. Franchisees have a vested interest in knowing their customers and communities and are in the best position to understand and respond to their local retail needs, which builds customer loyalty and sales."

Unlike other franchise models that take a percent of sales, 7-Eleven shares in the store's merchandise gross profits.

Separately, 7-Eleven also is expanding through its Business Conversion Program (BCP), where independent business owners interested in converting their retail operation to a 7-Eleven store can apply to qualify. BCP provides many similar benefits as 7-Eleven's traditional, individual-store franchise model, while allowing an independent store operator with at least 1,800 square feet of selling space the opportunity to own or lease his store site. Upon agreement, 7-Eleven installs proprietary equipment and assists in converting the store to a 7-Eleven-branded location.

7-Eleven is ranked as the No. 1 U.S. franchise opportunity by Entrepreneur magazine for 2008 and has received similar accolades by other business and trade publications. For 14 consecutive years, 7-Eleven has been listed among Hispanic Magazine's Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics, while Hispanic Trends Magazine included the company among its 2005 "Top Franchises for Hispanics."

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