Monday, June 24, 2013

How to Start a 7-Eleven Business

7-Eleven Business
7-Eleven stands as one of the world's best-known convenience store brands. With franchise locations in both the US and around the world, franchise owners find lucrative opportunities under the 7-Eleven banner. According to Entrepreneur Magazine, as of 2010, the company claims just over 6,500 American franchise owners, along with another 30,500 international locations. In order to become one of their ranks, a prospective franchise owner must complete a rigorous screening process and produce the bucks necessary to support a branch of this highly recognized and established brand. From start to finish, the 7-Eleven franchise process only takes two to four months to complete, so a business owner could be operational in very little time.


Step 1

See if 7-Eleven presently has a business location open in your desired area. On the application page, click on the link of available franchise locations. If one is suited to your needs, take note of this location and start the formal application process.

Step 2

Fill out the franchisee application on the 7-Eleven website. The company wants individuals with business and management experience, a credit rating of 700 or better and permanent U.S. residency. Once this application reaches the franchise department and passes screening, it's time for the Franchise Sale Manager interview.

Step 3

Interview with one of the company's Franchise Sales Managers. During this interview, the Sales Manager will review your information, talk to you about the franchise program and read over any applicable federal legal documentation pertaining to the business. The Sales Manager will then either deny the application or allow you to proceed to the testing stage.

Step 4

Complete both the Franchise Assessment and Franchise Disclosure tests. Both quantify your business acumen, ability to learn 7-Eleven's rules and regulations and management abilities. The company wants franchisees that can deliver on their "Five Fundamentals" of service: wide product selection, quality customer service, cleanliness, high-quality merchandise and good value. An applicant may be disqualified at this point for failing to meet 7-Eleven corporate standards.

Step 5

Visit available franchise locations. 7-Eleven representatives will take you on the road to view any franchise shops that suit your specifications. 7-Eleven makes an effort to match approved franchisees with a store that fits managerial capabilities, experience level and financial constraints. Budget is important at this stage, since you'll have to pay a franchise fee between $50,000 and $350,000, based on location, as well as a gasoline fee for stores with a filling station. If purchasing the franchise from a previous franchisee, the company asks that you render a goodwill payment for taking over the business.

Step 6

Work with the Franchise Office to compose an operations budget and business plan. A business plan usually includes cost and profit projections for several years in the future, as well as an examination of any nearby competitors. It takes into account payroll, taxes, permits, licenses and other necessary financial obligations. This plan should be solid and thorough, because the interview process still isn't complete.

Step 7

Take the final interview with the area 7-Eleven Sales Manager. The manager will go over the business plan and assess your readiness. If he deems you ready for business, the company will approve the application, draw up the necessary contracts and move you into the training program. If not, you can work with the company to improve your application and business plan for another try.

Step 8

7-Eleven BusinessSign all contracts and pay any associated fees, including the franchise, gasoline, or goodwill fees. This will also be the time to apply for city and state liquor, food, tobacco and sanitation certificates. Each of these require a monetary payment that varies according to product and volume, so keep some cash handy for these costs.





Step 9

Attend training, then hire and train new employees. You'll learn the point-of-sale system, as well as the Fresh Daily Delivery System that guarantees fresh food deliveries. You're now considered a full franchisee and 7-Eleven business owner.

Things Needed

  • Computer with Internet access
  • Startup capital of at least $150,000
  • Business management experience
  • Excellent FICO credit rating of 700 or above
  • Permanent U.S. residency

About the Author

Gigi Starr is a freelance fashion writer. She previously served as the blog editor for a major online fashion blog and has more than a decade of backstage experience in the beauty and high fashion industries. She has worked for businesses like an internationally renowned theatrical touring company and events such as the Mercedes-Benz N.Y.C. Fashion Week.


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