DALLAS - June 1, 2015 // PRNewswire // - Time is growing short to apply for 7-Eleven, Inc.'s Zero Franchise Fee Initiative. Between now and June 30, 7-Eleven, Inc. will waive the franchise fee on select U.S. 7-Eleven® stores available for franchise, a savings of up to $80,000.
Approximately 250 eligible stores are located across the country, including greater Charlotte, N.C., where 7-Eleven acquired a significant number of stores in 2012. Other areas where specific Zero Franchise Fee stores are available include Dallas/Fort Worth, Manhattan, Baltimore, Richmond, Va., Portland, Ore., Orlando and Jacksonville, Fla. These stores typically have lower sales volume compared to the national average.
Already, 67 stores have been franchised or are in the approval process. The franchising process can take anywhere from five to seven months.
"We have had great response from aspiring entrepreneurs who saw a chance to go into business for themselves without the upfront expense of the one-time franchise fee," said Greg Franks, vice president of franchising systems. "The Zero Franchise Fee initiative offers the new owner a chance to build a strong customer base and business, while backed by our proprietary systems, processes and ongoing support.
"This limited-time offering presents a great opportunity for individuals to franchise their own business with a major franchise brand, but the clock is ticking," Franks added.
According to Franks, 7-Eleven has added 80 more stores since the Zero Franchise Fee program started in mid-February. "We reviewed our store inventory and, based on candidate interest and initial demand, identified additional stores that we thought would be a good fit for the program," he said.
Over the last four years 7-Eleven has added more than 1,300 units in the U.S. Now that a 7-Eleven customer base has been established at these locations, the company is looking to transition these stores from company to franchise operations.
The convenience retailer is offering these stores to prospective, qualified franchisees as well as existing 7-Eleven franchisees who want to grow their retail business by adding stores. Prospective franchisees for these Zero Franchise Fee stores will undergo the standard 7-Eleven franchise approval process.
Basic 7-Eleven franchisee qualifications include being 21 years or older and a permanent U.S. resident, and having excellent credit and $50,000 in liquid assets. Prospective franchise owners will still be responsible for the costs of licensing, permits and the initial down-payment on inventory, totaling approximately $30,000.
Recognized by numerous business publications as among best franchise opportunities in the U.S. and most recently among the top 20 most valuable global brands, 7-Eleven offers its franchise-owners the strength of its world-renowned brand and a turnkey operation. After extensive training, 7-Eleven franchisees open their doors with a fully-equipped and stocked store with intuitive retail technology, merchandising and advertising support, high-quality national and private-brand products, and some of the world's most recognizable brands like Slurpee® and Big Gulp® drinks.
Because the stores qualifying as Zero Franchise Fee opportunities are considered low volume, they may qualify for additional, limited-time financial support.
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 nearly 10,500 7-Eleven® stores in North America. Globally, there are more than 56,000 7-Eleven stores in 16 countries. During 2013, 7-Eleven stores generated total worldwide sales close to $84.5 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #17 among most valuable global brands, #2 on Franchise Times Top 200 Franchise Companies for 2013; #1 on Entrepreneur magazine's 2014 Top Global Franchise list; #10 spot on Entrepreneur magazine's Franchise 500 list for 2015, and #3 in Forbes magazine's Top 20 Franchises to Start. 7-Eleven is No. 3 on Fast Company magazine's 2013 list of the "World's Top 10 Most Innovative Companies in Retail." 7-Eleven places among Top Veteran-Friendly Companies for 2014 by U.S. Veterans Magazine and is among GI Jobs magazine's Top 100 Military Friendly Employers for 2014. Hispanic Magazine named 7-Eleven among its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven is franchising its stores in the U.S. and expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com.
SOURCE 7-Eleven, Inc.