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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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