7-Eleven to Convert and Offer 14 Illinois Mother Hubbard's Cupboard Stores for Franchise
MOLINE, Ill. and DALLAS, June 8, 2011 // PRNewswire // -- The Land of Lincoln will soon have more places to get Slurpee® and Big Gulp® drinks when 7-Eleven, Inc. converts 14 northwestern Illinois Mother Hubbard's Cupboard (MHC) stores to 7-Eleven® stores and offer them for franchise.
As part of the company's growth strategy, 7-Eleven purchased these stores in 2010. Currently, there are 360 7-Eleven outlets in the state, 92% of which are franchised.
All 14 MHC stores offer motor fuel service and operate 24 hours a day, seven days a week.
"We plan to remodel these outlets to become 7-Eleven convenience stores and offer the franchising opportunity to people in the community that want to run their own business. 7-Eleven has a proven, successful system along with the support of the world's largest convenience retailer," said Bill Engen, 7-Eleven's east region senior vice president.
7-Eleven is investing in a remodel of these stores, which includes adding new coffee bars, hot foods equipment and its iconic Slurpee beverage with six-barrel machines. The stores already have a roller grill but will receive a second one as part of the conversion program to accommodate the product assortment of Big Bite® hot dogs, Buffalo chicken rollers, and breakfast and other taquitos.
In addition, the stores will introduce their customers to 7-Select, the retailer's private brand of products that meet or beat the quality of name-brand food and beverages on 7-Eleven shelves, but at a price 10 to 20 percent less.
These stores will benefit from 7-Eleven's distribution network that provides fresh food delivery on a daily basis which includes bakery items and hand-prepared sandwiches, salads, cut fruits and vegetables.
"7-Eleven provides an attractive business opportunity," said Engen. "Our franchise model supports the local business owner with infrastructure and consulting which enables them to operate great stores and make product assortment decisions that meet neighborhood needs. Franchisees from the local community are in the best position to know and respond to their local retail needs, which, in turn, builds customer loyalty and sales."
Qualified MHC store managers will be given the opportunity to apply for a 7-Eleven franchise.
7-Eleven provides the land, building, equipment and a turn-key operation for its franchisees. The franchise fee for these stores is based on each MHC store's sales history and whether the facility includes a laundromat. The fee is expected to range from around $60,000 to $460,000 with six of these stores offering laundry services. Other franchisee start-up costs include the store's inventory, supplies, business licenses, permits, bonds and cash register fund.
7-Eleven's franchise model is based on a gross profit split rather than a percent of total sales unlike most franchise companies. This increases the focus on co-prosperity and the franchisee's success because each shares in the profits. More than 5,100 of 7-Eleven, Inc.'s 6,200 U.S. stores are now franchised.
7-Eleven consistently ranks among the top franchise opportunities in the U.S. by numerous business publications. Recent accolades include Forbes magazine's #2 spot on its 2011 list of Top Franchises for the Money, the #4 spot on Entrepreneur magazine's Franchise 500 list for 2009, and #3 in Forbes magazine's Top 20 Franchises to Start. Other honors were the #3 rank among Top 100 Global Franchises by Franchise Direct, GI Jobs magazine's Top 100 Military-Friendly Employers, #2 in Franchise Times' Top 200 Franchise Companies, #6 in the AllBusiness AllStar Franchise ranking and #29 among Top 100 Chains in Food Service. Hispanic Magazine named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics.
7-Eleven has been selected by three diversity publications as a company offering the best career and franchisee opportunities. In addition, Symphony IRI recognized 7-Eleven in its 2009 Shopper-Centric Marketing Innovation program, and 7-Eleven received the 2010 Retailer of the Year from PL Buyer because of the company's private-label brand initiative.
MHC locations that will become 7-Eleven convenience stores include:
2702 Avenue of the Cities Moline
105 West 1st Ave. Coal Valley
412 1st Ave. Colona
1026 16th Ave. / 1027 18th Ave. East Moline
1007 1st St. Silvis
3017 Kennedy Dr. East Moline
1000 78th Ave. West Rock Island
1636 38th St. Rock Island
1700 18th Ave. Rock Island
2930 16th St. Moline
4520 11th St. Rock Island
3718 39th Avenue Dr. Moline
4720 27th St. Moline
3105 175th Ave. Sherrard
For more information about acquiring a 7-Eleven franchise, call 1-800-255-0711 or access the company's web site at 7-Eleven.com under Franchise.
This is not an offer to sell, or solicitation of an offer to buy, a franchise. An offer is made by prospectus only. 7-Eleven, Inc. is an equal opportunity organization.
About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses more than 8,400 7-Eleven® stores in North America. Globally, there are approximately 40,900 7-Eleven stores in 16 countries. During 2010, 7-Eleven stores worldwide generated total sales close to $63 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #2 on Forbes magazine's 2011 list of Top Franchises for the Money; #4 spot on Entrepreneur magazine's Franchise 500 list for 2009 and #3 in Forbes magazine's Top 20 Franchises to Start. Hispanic Magazine named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven received the 2010 Retailer of the Year from PL (Private Label) Buyer because of the company's private-label brand initiative. The company is franchising its stores in the U.S., and is expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com.
SOURCE 7-Eleven, Inc.