7‑Eleven Inc.’s Zero Franchise Fee Initiative continues until June 30. The c-store behemoth is waving the franchise fee on approximately 250 select U.S. 7‑Eleven stores, offering a savings of up to $80,000.
The stores are located across the country, including in greater Charlotte, N.C., where 7‑Eleven acquired a significant number of stores in 2012. Other areas where specific Zero Franchise Fee stores are available include Dallas/Fort Worth, Manhattan, Baltimore, Richmond, Va., Portland, Ore., Orlando and Jacksonville, Fla. These stores typically have lower sales volume compared to the national average.
Already, 67 stores have been franchised or are in the approval process. The franchising process can take anywhere from 5-7 months.
“We have had great response from aspiring entrepreneurs who saw a chance to go into business for themselves without the upfront expense of the one-time franchise fee,” said Greg Franks, vice president of franchising systems. “The Zero Franchise Fee initiative offers the new owner a chance to build a strong customer base and business, while backed by our proprietary systems, processes and ongoing support.
“This limited-time offering presents a great opportunity for individuals to franchise their own business with a major franchise brand, but the clock is ticking,” Franks added.
According to Franks, 7‑Eleven has added 80 more stores since the Zero Franchise Fee program started in mid-February. “We reviewed our store inventory and, based on candidate interest and initial demand, identified additional stores that we thought would be a good fit for the program,” he said.
Over the last four years 7‑Eleven has added more than 1,300 units in the U.S. Now that a 7‑Eleven customer base has been established at these locations, the company is looking to transition these stores from company to franchise operations.
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 these Zero Franchise Fee stores will undergo the standard 7‑Eleven franchise approval process.
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.
Most recently among the top 20 most valuable global brands, 7‑Eleven offers its franchise-owners the strength of its world-renowned brand and a turnkey operation. 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.
Because the stores qualifying as Zero Franchise Fee opportunities are considered low volume, they may qualify for additional, limited-time financial support.