7-Eleven: a Way of Life

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  • Topic: Franchising, International Franchise Association
  • Pages : 3 (619 words )
  • Download(s) : 482
  • Published : October 8, 2011
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7-Eleven: A Way of Life2

7-Eleven would maintain a policy allowing the franchisee to completely back out after being selected, trained and assisted into operations as a full-fledged franchise due to not being able to uphold the business relationship. 7-Eleven requires a training program which includes expenses related to the initial training which is required once certified. If any of the trainees fail to become certified as having satisfactorily completed the initial training program, the franchisee agree to be responsible for all expenses related to the initial training, including lodging, but excluding the costs of providing the initial training.

At any time before the effective date, if any of the trainees do not show an understanding of the training, are not satisfactory to the franchisee in any respect, or are otherwise not progressing in the initial training program in a manner satisfactory, 7-Eleven will stop providing initial training to such trainees or refuse to certify, or revoke the certification of, any such trainees. The Agreement will not become effective and will be null and void and agree to refund the down payment and the franchise fee, without interest, after deducting any amount owed., including any initial training expenses in attempting to obtain a 7-Eleven Store Franchise. The policy of refunding the franchising fee should not be more common in franchising. A franchisee fee is a sum of money that you pay to the franchisor periodically. The franchise agreement usually specifieshow much you have to pay and when. Typically, the fee is based upon your sales of the goods or services that franchisor has agrees to let sell, and more often that not it is a percentage of your sales. In the franchise agreement, they are labled something like “franchisor’s continuing operations”.Although these obligations will vary by franchisor and agreement, they usually include things like the franchisor’s agreement to: 1.Train...
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