7 Eleven Report
Rys Hoang
Entrepreneurship
Mr. Brown
October 15, 2010
7 Eleven Report
I love to be the franchise of 7-Eleven which one is a third place ranking Entrepreneur magazine’s Top 10 Franchises for 2010. I want my business to be located in Houston. According to my research, 7-Eleven’s franchisees almost open their business in Dallas and Austin and don’t have any restaurant in Houston. So it will be a good opportunity for me to open the first one in Houston. I choose Houston’s central as a first place for my business because I want to concentrate on selling products to the office staffs, businessmen, walkers and students.
The franchisor can also sell other franchises in my area which will not affect to my business because not only me as the franchisee can open the 7-Eleven’s restaurant in Houston. The one-time initial franchise fee for open a new 7-Eleven restaurant is $70,000 on average and rather than taking a percentage of total sales receipts, royalty fee will be based on store’s gross profit. So a new restaurant will be opened after 120 days. 7-Eleven began franchising in the United States in 1964 until now with total investment is from $30,800 to $604,500 and today it is offering more opportunities than ever with more than 6,800 stores in the U.S. and Canada and more than 36,000 stores worldwide. With the new franchisee, the franchisor will provide a lot of services such as advertising, merchandising, business consultant, bookkeeping and accounting service, property and equipment and training court. Joining 7- Eleven, the franchisee can also get a lot of benefits from the franchisor’s services instead of opening an own company, low rate of failure. When the franchisee decides to purchase the franchise from the franchisor, they will receive the special training court to help the franchisee understand how the company work, help them learn how to get the supplies, advertising and everything they need. But if the franchisee wants to cancel the franchise agreement during
Entrepreneurship
Mr. Brown
October 15, 2010
7 Eleven Report
I love to be the franchise of 7-Eleven which one is a third place ranking Entrepreneur magazine’s Top 10 Franchises for 2010. I want my business to be located in Houston. According to my research, 7-Eleven’s franchisees almost open their business in Dallas and Austin and don’t have any restaurant in Houston. So it will be a good opportunity for me to open the first one in Houston. I choose Houston’s central as a first place for my business because I want to concentrate on selling products to the office staffs, businessmen, walkers and students.
The franchisor can also sell other franchises in my area which will not affect to my business because not only me as the franchisee can open the 7-Eleven’s restaurant in Houston. The one-time initial franchise fee for open a new 7-Eleven restaurant is $70,000 on average and rather than taking a percentage of total sales receipts, royalty fee will be based on store’s gross profit. So a new restaurant will be opened after 120 days. 7-Eleven began franchising in the United States in 1964 until now with total investment is from $30,800 to $604,500 and today it is offering more opportunities than ever with more than 6,800 stores in the U.S. and Canada and more than 36,000 stores worldwide. With the new franchisee, the franchisor will provide a lot of services such as advertising, merchandising, business consultant, bookkeeping and accounting service, property and equipment and training court. Joining 7- Eleven, the franchisee can also get a lot of benefits from the franchisor’s services instead of opening an own company, low rate of failure. When the franchisee decides to purchase the franchise from the franchisor, they will receive the special training court to help the franchisee understand how the company work, help them learn how to get the supplies, advertising and everything they need. But if the franchisee wants to cancel the franchise agreement during