When it comes to a convenience store franchise, the top player is 7-Eleven with more than 58,000 stores operating in 17 countries worldwide. 7-Eleven has been in the franchise industry for over 40 years and a leading convenience retailer for more than 80 years.
7-Eleven’s Humble Beginnings
The success rate of a 7-Eleven franchise that provides excellent franchise opportunities is rooted in its humble beginnings. When John Jefferson Green, an employee of the Southland Ice Company, started selling milk, bread, and eggs at a front store in Dallas marks the beginning of 7-Eleven. The convenience store concept helps reduce the travel time, and distance customers need to take to buy essential commodities. Eventually, John Jefferson Green bought the Southland Ice Company, which later became Southland Corporation.
In chronological order, here are the highlights of 7-Eleven’s history:
- Jenna Lira brought a totem pole from Alaska that became a marketing tool for the convenience store in 1928 with an Alaskan Native-inspired theme.
- Eventually, the convenience stores started operating as “Tote’m Stores” and constructed gas stations in some stores in Dallas as an experiment. Later on, the staff of Southland began to wear a uniform for the ice station service boys.
- Joe Thompson trained the staff to maintain the same quality of service in every store.
- The Great Depression sent Southland to bankruptcy in 1931. Luckily, the company reorganized and continued its operations with the help of W.W. Overton Jr., a Dallas banker, who sold the bonds of the company for seven cents on the dollar. It brought the ownership of the company under the control of the board of directors.
- The name of Southland was changed to 7-Eleven in 1946, which reflect the new hours of operation of the store (7 am to 11 pm).
- In 1963, the company experimented with an all-day schedule (24 hours) in Austin, Texas, to satisfy customer demand. Eventually, 24-hour stores were established in Dallas and Fort Worth, Texas, as well as Nevada and Las Vegas.
- In 1991, Southland exited bankruptcy, after a $430 million cash infusion from Seven-Eleven Japan and Ito-Yokado. Southland Corp. was changed to 7-Eleven, Inc. in 1999.
Benefits of 7-Eleven Franchise Business
A convenience store makes a good franchise business ownership after retirement. If you like to own and operate your 7-Eleven franchise, the initial investment ranges from $37,550 to $1,200,000 with a net worth requirement range of $100,000 to $250,000. The initial franchise fee ranges from $10,000 to $100,000 depending on the gross profit of the store.
Despite all the costs and fees involved to own a 7-Eleven store, the commitment and branding of the company to the franchisees are unprecedented, tailoring businesses to the needs and individuality of the customers. You can upgrade your business into a blockbuster because 7-Eleven takes an active role in your business; knowing that your success is also the company’s success.
Here are the benefits of a 7-Eleven franchise:
- Obtain the land’s ongoing cost
- Bear the building and equipment costs
- Finance store operating expenses
- Pay for gas, water, and electric utilities
Awards and Achievements of 7-Eleven
7-Eleven is considered as one of the most awarded and acclaimed franchise organizations in the United States. The company has received a lot of awards and achievements because of its high success rate. After the downfall of Southland Corp., 7-Eleven, Inc. has risen and climbed the third spot for the 2010 rankings, in the 31st Annual Franchise 500 of the Entrepreneur Magazine.
Here are the awards and achievements of 7-Eleven:
- In 2010, the 7-Eleven opened its first “green store” in DeLand, Florida, featuring the Energy and Environmental Design (LEED) elements of the U.S. Green Building Council’s (USGBC) Leadership. This environmentally-friendly design saves energy costs.
- In 2011, 7-Eleven celebrated its 40,000th store opening. Only after two years, 7-Eleven opened its 50,000th store.
- In 2016, 7-Eleven ranked No. 7 in the Entrepreneur’s Franchise 500.
- Ranked number one on the 2017 Top Global Franchises List of the Entrepreneur Magazine.
- In 2017, Victory Media awarded 7-Eleven as a Silver Level Military Friendly Employer.
Indeed, 7-Eleven remained strong after all the years of ups and downs. It has proven a good track record after its first bankruptcy. Today, the company is proud of its awards and achievements, making it the leader when it comes to convenience store franchising. The continuous success of 7-Eleven relies upon the quality of service and its strategic marketing efforts.