711 Franchise – 7-Eleven is a global chain of over 58,000 convenience stores operating in 17 countries worldwide. 7-Eleven has been the initial 24/7 convenience store, has been a convenience retailer for over 80 decades, and was a pioneer in the franchise industry for over 40 decades ago. It’s even claimed that the Southland Ice Company started the very initial convenience shop.
As an increasing number of customers kept coming into purchase ice hockey, enterprising employee John Jefferson Green started also selling milk, bread, and eggs after hours, imagining that would reduce the need for clients to travel long distances for basic products. Supply soon fulfilled demand, and a business was born.
Joe Thompson, one of the founding directors of Southland Ice Company, is credited with developing a training program that emphasized the importance of every client receiving the same quality of support in each shop. It might be argued that these were a few of the first Brand Standards ever used in franchising.
The first stores went by the name Tote’m since customers “toted” away from their packages. However, in 1946 the shops’ hours were extended, starting at 7 a.m. and closing at 11 pm, that was unprecedented in the moment, and thus the shops were given a new name to signify that.
As time passes, most 7-Eleven places are now fully 24-hour shops, though they are still called 7-Eleven. The name has stuck, and it has helped develop one of the most well-known brands in the world.
The 7-Eleven franchise is a business system that includes: a permit to use the service mark “7-Eleven”; coaching; continuing advice and assistance on working a store; bookkeeping services; shop stock auditing; financing; merchandising assistance; advertising; and other solutions as described in the disclosure document. There are two types of franchises offered:
- A conventional Person 7-Eleven Store: The franchisor (7-Eleven) accelerates the land, building, and equipment for your shop, and 7-Eleven or an affiliate leases the franchise a completely equipped and stocked 7-Eleven store that is ready to operate. In the 7-Eleven franchise program for traditional individual 7-Eleven stores, just single unit franchises are offered.
- Business Conversion Program (BCP) franchise: The franchise is responsible for obtaining the property and building for a shop site and pays a different royalty than traditional franchisees. The franchisee of a BCP can also be subject to a different disclosure record than the franchisee of a conventional shop.
The Training Plan consists of roughly 300 hours of training in the Store Support Center located in Irving, TX and in a 7-Eleven Training Shop. Successful completion of the Training Program does not guarantee that the franchise will likely be accepted as a franchise. The franchisee should have at least two individuals successfully complete the Training Program within a reasonable time period after taking possession of the store. The franchisor may provide additional training when deemed necessary based on changes in the 7-Eleven System. Franchisees agree to take part, and to require their workers to take part, in any extra training programs that the franchisor makes available about the proper sale of age-restricted products or the selling of different products which are controlled and which could lead to a violation of law if not correctly sold, and any other training programs it designates as needed. Franchisees and their employees must successfully complete all necessary additional training into the franchisor’s complete satisfaction as it may determine in its sole discretion.
Franchisees agree under the franchise agreement to devote their best efforts to the store and also to actively and substantially take part in the actual performance of their franchise. Franchisees further agree to work full time in their store and supervise day-to-day surgeries, and make themselves available to meet with the franchisor at reasonable times, in the franchisor’s request, but if franchisees agree to meet up with the franchisor at least once a week in their shop during reasonable business hours. If a franchise is temporarily out of town or otherwise temporarily unavailable to meet with the franchisor at any moment, the franchisee agrees that the franchisor can meet with the franchisee’s workers to go over the franchisee shop’s business and take some action contemplated or allowed under the franchise agreement. The shop must carry all types of stock specified. Franchisees must carry, use and provide available just the stock and other goods which are consistent with the type, quantity, quality, and variety associated with the 7-Eleven Image and since the franchisor specifies in the franchise agreement. Franchisees must maintain in the store at all times a fair and representative amount of all proprietary goods listed in the franchise agreement or that the franchisor otherwise lists in writing. Franchisees must obey the franchisor’s merchandising and shelf life conditions for new foods.
7-Eleven Franchise Fast Facts
- Total Investment: $37,550 to $1,200,000
- Net Worth: $100,000 to $250,000
- Liquidity: $50,000 to $150,000
- Franchise Free: $10,000 to $1,000,000