August 31, 2017 // Franchising.com // Entrepreneurs looking for the right financial opportunity to start a business better hurry to take advantage of the Zero Franchisee Fee Initiative to franchise a 7-Eleven® store. The program ends Sept. 30, 2017. Until then, 7-Eleven, Inc. will waive the franchise fee, a savings of up to $80,000, on select U.S. stores available to franchise.
Entrepreneur magazine ranked 7-Eleven the No. 1 franchise business opportunity earlier this year on its 2017 Franchise 500 list, which makes the Zero Franchisee Fee an ideal opportunity to join a recognized global brand.
7-Eleven introduced the zero-fee program in 2015 following a period of rapid growth and brought it back in 2016. During that time, the company franchised more than 200 stores. Currently, approximately 200 more eligible stores available to franchise are located in metropolitan areas across the country including cities like Buffalo, Richmond & Jacksonville.
“The Zero Franchise Fee program has been successful on several fronts,” said Larry Hughes, 7-Eleven vice president of Franchise Systems. “It has provided an attainable, affordable entry point for many people wanting to go into business on their own. The company has gained greater diversity with more military veterans and Hispanics joining the franchisee family. And existing franchisees have taken the opportunity to acquire additional stores.”
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 Zero Franchise Fee stores will undergo the standard 7-Eleven franchise approval process, which can take anywhere from five to seven months.
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.
After an acquisition and rebranding, 7-Eleven works to establish a local customer base before looking to transition these stores from company to franchise operations.
7-Eleven offers its franchise owners the strength of its world-renowned brand. 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.
This year marks the 53rd year of franchising for the world’s largest convenience store chain. Today, franchisees operate almost 90 percent of the 7-Eleven stores in the U.S. An interactive map at www.franchise.7-Eleven.com indicates stores available for franchising.
Because these stores typically have lower sales volume compared to the national average, 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 Irving, Texas, 7-Eleven® operates, franchises and/or licenses more than 63,000 stores in 18 countries, including 10,900 in North America. Known for its iconic brands such as Slurpee®, Big Bite® and Big Gulp®, 7-Eleven has expanded into high-quality salads, side dishes, cut fruit and protein boxes, as well as pizza, chicken wings, cheeseburgers and hot chicken sandwiches. 7-Eleven offers customers industry-leading private-brand products under the 7-Select® brand including healthy options, decadent treats and everyday favorites, at an outstanding value. Customers also count on 7-Eleven for bill payments, self-service lockers and other convenient services. Find out more online at www.7-Eleven.com, via the 7Rewards® customer-loyalty platform on the 7-Eleven mobile app, or on social media at Facebook, Twitter and Instagram.
SOURCE 7-Eleven, Inc.