Did you know that 7-Eleven actually started as a small convenient store by Joe Thompson in Dallas, Texas? It was actually named Tote’m Store before it eventually become 7-Eleven which means that the convenient store is open from 07:00 AM to 11:00 PM. From their regular business operating hours, the 7-Eleven had seen the need to operate 24/7 which eventually led for the business to have more than 55,000 branches worldwide.
What are the qualifications and requirements in franchising 7-Eleven?
- The applicant must be willing to undergo four (4) weeks of training.
- The applicant must possess leadership and managerial skills.
- Should not be engaged, directly or indirectly, with any business that coincides with 7-Eleven.
- Letter of Intent
- Filled out application form to be sent at email@example.com or to their office address: The Franchise Manager Philippine Seven Corporation 7th Floor, Columbia Tower, Ortigas Ave., corner EDSA, Mandaluyong City.
What are the inclusions in franchising a 7-Eleven Business?
Aside from having the operational rights of the store, air conditioning system and inventory system, franchising will also include the following:
- Bakery cases
- Coffee Machines
- Chili-cheese dispenser
- Cigarette fixtures
- Grinders and counters
- Condiment station
- Cold/Hot food display
- Low-temp cooler
- Ice cream case and rack
- Open-air fresh food cases
- Beverage dispensers
- POS counter space and register
- Retail Information System and Merchandise Ordering Terminals
- Roller grills and counter space
- Safe, counter and security system
- Slurpee barrel dispensers
- Backroom shelving
- Walter filter
- Interior valence
- Exterior trash cans
- Window graphics
- Banner boards
- Exterior signage
Who are my target customers?
Your target customers are people who are always in the hustle to get their foods and beverages done and/or grab in an instant. Having your 7-Eleven franchise near establishments or areas where there are a lot of people is ideal because your store will be the go-to place of those who would like to get a quick drink or food.
Is 7-Eleven Franchising a good investment?
Aside from being your own boss, you’re also making the daily lives of people around your store much easier. If they want a cheap yet tasteful breakfast, where will they go? If they would like to have a quick lunch that can be done easily, 7-Eleven is their go-to place.
It’s even the place where people meet up, catch up with their friends and even bond with their loved ones. Aside from making their daily lives easier, you’ll have the chance to better hone your skills at handling your business with the help of an already established 7-Eleven. You’ll be able to get and acquire skills that has to do with operating a business that caters to a huge amount of people every single day.
What are the potential risks of franchising 7-Eleven?
You will have to hire your own people. You will also be responsible for their salaries and benefits. While this may be ideal for some because they can hire people they already know, it can cause some problems such as other employees have been reported of stealing money from the business.
50% of your earning will be given to 7-Eleven. It’s ideal to always meet or exceed your target quota monthly for 7-Eleven will take away half of what you’ve earned.
You will have to be present 24/7 as well. While some businesses do not require you to be physically present at the store, 7-Eleven requires your full attention and presence since you’ll have to see to it that a) you’ll meet the monthly quote and b) attend to the customers’ needs.
How much is your potential profit from 7-Eleven Franchising Business?
For a five-year contract worth PHP 3.5 M, you are required to earn at least PHP 700,000 annually. And since you have 50 – 50 share agreement with 7-Eleven, instead of PHP 58,000 you’ll need to earn at least PHP 800,000 per month. From the PHP 800,00 and a quota of PHP 650,000 monthly, you will get at least 30-50% as your profit.
Where should you put up your 7-Eleven Franchising Business?
7-Eleven requires the applicant to at least have a renting space of about 120 square meters. In case you’ve seen 7-Eleven stores being put up, i.e. still under construction, you may apply to have that place franchised by yours.
What are the good things about franchising 7-Eleven?
The advantage of franchising 7-Eleven is that as a franchisee, you’ll have the opportunity to operate a well-established business that has its own retail operating system, logistics and distribution resources, provides operational support and marketing, and has an 8-week comprehensive program that will walk you through the operation and management.
Aside from that an Operations Field Consultant (OFC) will be assigned to visit your place at least once a week to provide counselling in every aspect of your business. A monthly financial and marketing records will also be provided to you by 7-Eleven.
How much should I invest to start a 7-Eleven Franchising Business?
For an investment of at least PHP 3.5 M, franchising of 7-Eleven will compose of the following expenditures:
- Merchandise: PHP 800,000.00
- Franchise Fee: PHP 600.000.00
- Joining Fee: PHP 2.03 M
- Store Supplies: PHP 170,000.00
The location of store, its renting fee and other payment agreement terms will depend on you as the franchisee of the business. Aside from the renting fee, you will have to pay for the following expenses as well:
- Operating Expenses
- Electricity (50% of it will be shared with 7-Eleven)
For questions and/or concerns, you may also reach them at their telephone no. +63 (02) 726 9968 or through their cell no. +63 (920) 950 8651 / +63 (917) 871 1475. Their office hours for franchise briefings are Mondays and Thursdays from 10:00 AM onwards or at 02:00 PM onwards.