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7-11 Franchise
I am sure there aren't too many of you that aren't
familiar with the 7-11 Convenience Stores as they have been around for
as long as I can remember. I will offer you my opinion based on my
actual experience meeting with 7-11 and almost becoming a Franchise
owner! I decided to start my own internet business instead. Why? The
following should give you some idea as to which business route is a
better choice. Not all of you will see my choice as best, but there are
definite advantages.
I began my investigation into 7-11 Franchise by
submiting an application that I think I located on the internet. I more
or less forgot about it until one of their District Managers contacted
me a few months later. We met several times over several months. It
wasn't until about the fifth meeting that we got very serious in the
business review and he advised me I was in the running for a couple
7-11 stores.
I was impressed with the 7-11 Franchise
opportunity for several reasons.Their presentation, including a power
point type overiew of the business, its philosophies, and its use of
technology in running and growing the business was quite impressive.I
especially was surprised at how they track inventory and have specific
suppliers all tied into a network of systems that distribute to your
store, to supply the inventory needed in a just in time approach. The
tracking of how much volume of what particular item on your store
shelves with a re-ordering methodology so your shelves are never
without an item that can cut profit from your pocket was very
impressive. Use of technology in this area was again impressive.
I also asked if my first year gross profit of
$70000 was reasonable. The reply was "it would be a stretch to expect
that in your first year". The 7-11 Franchise opportunity includes a lot
of financial assistance from 7-11. My out of pocket cost to get into
this Franchise was about $20000. I thought that was pretty reasonable,
however that figure did not include what I would need to "finance".
Another aspect of what this kind of business is
all about is you have to hire employees, and yes, deal with making sure
they show up for work (if they don't, you do!) as the store is open
24/7. You also need to advertise. 7-11 Franchise will help you in all
this and they send two people to a comprehensive training before you
start your own store. The stores are franchised for 11 years if you are
selected to get one. They give you a complete financial disclosure of
the store you are considering to review.
The 7-11 Franchise recruiting effort included a
thorough review of your background regarding how well you will match
their expectations for a store owner. In other words they don't just
sell you a franchise, without being pretty sure you will succeed. That
makes sense, as if you fail, so do they!
Your profits are totally dependent on your stores
sales minus expenses. Again they said to expect the first year to be no
where near my $70000 annual gross wage I was looking for. Expenses
include a franchise fee (royalty) that you pay the parent company.
Why would I select an internet business over a
franchise? I'll list a few reasons in brief: no employees, no people
hassles, no limit to how much I wish to make, I make my own hours and
much less than a 24/7 operation, quicker profitability (much less than
one year), no royalty fee to anyone; I keep every penny I make, and
extremenly low start up cost vs.this example of $20000 plus what is
financed. In my business I get to work with all kinds of people looking
for a business opportunity, to make extra cash, or to improve their
websites sales. This is all rewarding which you can't place a price tag
on.
711 franchise may be for you, check them out.
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