7-Eleven Waiving Franchise Fee on 200-Plus Stores
DALLAS — 7-Eleven Inc. is waiving the franchise fee on a select number of its stores available for franchise in the United States.
The Zero Franchise Fee Initiative could save an operator up to $80,000. 7-Eleven President and CEO Joe DePinto introduced the move at last week's 7-Eleven Experience in Las Vegas, the company's annual franchisee convention.
While the more than 200 available stores are located in cities across the country, many of the Zero Franchising Fee opportunities are in markets like Charlotte, N.C., where 7-Eleven has acquired a significant number of stores.
Over the past four years, 7-Eleven has grown its store base by more than 1,300 units. Now that a 7-Eleven customer base has been established at these locations, the company is looking to transition these stores to franchise operations.
Other cities where Zero Franchise Fee stores are available include the Dallas/Fort Worth area; New York City; Baltimore; Richmond, Va.; Orlando, Fla.; Portland, Ore.; and Jacksonville, Fla. These stores typically have lower sales volume compared to the national average.
The convenience retailer is offering these stores to qualified prospective franchisees, as well as existing 7-Eleven franchisees who want to grow their retail business by adding more 7-Eleven stores. Prospective franchisees for these Zero Franchise Fee stores will undergo the standard 7-Eleven franchise approval process.
"These locations offer would-be entrepreneurs a chance to go into business for themselves without the expense of the one-time franchise fee," said Greg Franks, vice president of franchising systems for 7-Eleven. "With the Zero Franchise Fee Initiative, we opted to waive the fee on these specific stores to allow the new owner a chance to build his or her customer base and business, while backed by our proprietary systems, processes and ongoing support.
The initiative is a limited-time offer. Because the stores qualifying as Zero Franchise Fee opportunities are considered low volume, they may qualify for additional, limited-time financial support, according to the retailer.
Dallas-based 7-Eleven Inc. operates, franchises or licenses 10,500 7-Eleven stores in North America.