7 ELEVEN Franchise Startup Cost, Profit & Opportunities
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.
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.
HOW MUCH IS 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.