7-11 is an international chain with over 59,580 stores in 15 countries. 7-11 stores have been in the convenience retailer business since 1927 and have been the leading franchise company for the past 40 years. It started by selling milk, bread, eggs, and ice. The 7-11 offers a 24/7 service to all their customers.
Before the opening of your very own 7-11 store, there are important matters that need to consider such as how much does 7-11 franchise cost and type of franchise that the mother company offers for their franchise. You also need to consider the qualification needed to be eligible for the application in their franchise.
Who Are Qualified For 7-11 Franchise
7-11 welcomes candidates who possess an ideal mix of personal qualities, professional experience, and financial standing that will help in successfully operating the 7-11 franchise business. The franchisee must have at least two individuals who successfully completed their training.
Like any other franchising business 7-11 also have a financial requirement that needs to be satisfied. To be eligible the candidate must have a net worth of $100,000 to $250,000 as well as liquid cash that ranges from $50,000 to $150,000.
Difference Between Traditional And Business Conversion Program
In a traditional 7-11 store the franchisor acquires the land, building, and equipment of the store or affiliate leases in which the franchisee will then have a fully-equipped and stocked 7-11 store that is ready for operation.
While in a Business Conversion Program the franchise is the one responsible for acquiring the land and building for the store site and pays a different royalty fee than that of the traditional franchise.
Minimum Cost For A 7-11 Franchise
7-11 franchise cost ranges from $39,750 to $1,122,100. This package includes the franchise fee, down payment for the opening inventory, cash register funds, store supplies, licenses, and permits, as well as the funds during the first three months. The high franchise cost includes the franchise fee while the low franchise contains a zero franchise fee. Moreover, the start-up cost in 7-11 varies with the kind of franchise that you purchase.
An average 7-11 store has a selling space of 1,400 to 1,800 square feet with an electrical standard of 600 amps, three-phase system.
The 7-11 franchise start-up cost varies with respect to the kind of franchise that the franchisee wants to purchase and venture.
Package Inclusion In A 7-11 Franchise
The 7-11 franchise runs a business system that includes the following: a license to the service training offered by 7-11 for all their franchise; continuous advice and assistance upon the opening of the franchise; inventory and auditing; bookkeeping service; finance and merchandise assistance as well as advertising.
The ongoing 7-11 franchise cost ranges from $10,000 to $1,000,000. The Franchise package inclusion also includes the franchise fee, start-up cost, equipment, inventory, accounts receivable, and payroll for the first three months. Royalty fees are the fees associated in using the company name in which includes the advertisement and support from the mother company.
Unlike the other company that has a unified royalty fee in 7-11, the royalty fee varies depending on the kind of franchise that you purchase. The 7-11 franchise start-up cost also depends on the franchise that the franchisee wants to venture.
You also need to remember if the package includes the advertisement upon the opening of the franchise this will let the public know that your business exists and it is open for business. In a low-cost 7-11 franchise, the package inclusion is as follows: down payment for the opening inventory, additional opening inventory, cash register fund, and store supplies, as well as the licenses and permits.
Franchise Cost Comparison
- Circle K offers a start-up package that ranges from $210,500 to $1,602,250. The package includes the following: the franchise fee which is $25,000, equipment, fixtures and furniture, signage, utility deposit, merchandise inventory, professional fee, grand opening cost, and additional funds for the first three months.
- AMPM requires about $400,509 to $7,807,883 initial investment for franchise and whose franchise fee ranges from $35,000 to $70,000. The price depends on the kind of franchise that you want to purchase. The package includes the following: ampm equipment, accessory items, miscellaneous opening cost, opening inventory, working capital, business licenses and permits, sales tax deposit, and security deposit, as well as POS equipment and back office computer system.
- Street Corner offers a start-up investment of around $45,645 to $1,479,800 where the franchise fee is between $19,900 up to $24,900. The package covers the following: franchise fee, start-up cost, equipment, inventory, accounts receivable, and payroll.
- Express Mart initial investment ranges from $86,200 to $361,000 where the franchise fee is $15,000. The franchise package includes the following: franchise fee, start-up cost, equipment, inventory, accounts receivable, and payroll.
Opening Your Very Own 7-11 Franchise
You are now looking forward to opening and managing your own 7-11 franchise but there are many things to consider before you can have your fully equipped and stocked 7-11 store that is ready for operation.
Opening a business venture is tricky and there are a lot of risks that you have to be aware of. You need to equip yourself with the knowledge you will need to succeed. For when you fail the money and time you have spent will be all for nothing.
Familiarize yourself with how the business is run. Most business that offers to franchise also has offer training for their candidates. Seeking advice from professionals will also help you be at ease with your decisions.
Low-Cost Franchise
In 7-11 they offer a zero franchise fee for anyone that has a flare in business. There are numerous low-cost offers that are available in 7-11. It is often offered to that highly motivated and business-minded individual who knows what it takes to succeed in their business endeavors.
For those qualified individuals to manage the 7-11 stores they will be responsible for the following: initial cash register fund, initial inventory down payment, licensing expenses, and training expenses as well as other initial fees.
7-11 zero franchise fee programs are designed for the existing and future franchisees and give them an opportunity to expand their franchise by eliminating the franchise fee.
Start Your Own Business Franchise
Starting your own business takes guts and courage. It is not easy starting your own business with the amount of money that you need to start and the continuous fluctuation of the stock market you will never know what will happen tomorrow or the next day.
But you will never know success when you don’t know failure. As long as you know how to run your franchise business and asked for assistance from the mother company when needed you can assure yourself that it will become a successful venture.
7-11 deals with food and beverages and people eat three times a day your store will never be without customers.