7-Eleven Business Plan

business planThis post is about Business Plans in general, but because I have the most experience in the convenience industry, I’m going to focus on a plan for operating a 7-Eleven.

Before getting into any business, whether it’s 7-Eleven, or your own independent store, it is very important to have a business plan. 

Don’t ignore this very important step, or treat it with that “checking the box”, mentality, because this is a tool to organize your thoughts, expectations, and goals – giving your research detailed focus and perhaps uncovering things you never realized as you research every aspect of your business.

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7-Eleven Income Potential

So you’re thinking about buying a 7-Eleven and would like to know how much money you could make. 

Well, contrary to popular belief, 7-Eleven owners don’t typically make Hundreds of Thousands of Dollars.

What they make varies greatly on their individual store, but here are some rough estimates: 

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7-Eleven Start Up Costs

Many people are finding this blog with the key words, “7-Eleven Start-Up costs”, so I wanted to dedicate an entire post to the subject.

In January 2008, for the very first time, 7-Eleven, inc. unseated Subway as the #1 franchise on Entrepreneur’s: 29th Annual Franchise 500 list.

I think the reason they are finally #1 is a combination of a strong brand image, aggressive franchising in 2007 (1000 stores in the US),  and as compared to other franchises … affordable start up costs.

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5 Reasons to buy a 7-Eleven!

5.  You don’t need any experience!!!  So this is a good starter business.

“Wait!!”, you say, “That can’t be true!!”… well here’s the funny thing:  even though having experience would be tremendously beneficial,  after spending sometime around the 7-Eleven’s qualification process, I can honestly say that if you were competent enough to complete high school (know how to read, write, and some basic arithmetic) you will more than qualify as long as you come across confident in your interview. 

But watch out!!  If this is your starter business, make sure you have a clear exit strategy because if you’re not careful, this business will suck you in, and in a blink of an eye it will be 10 years later and you’re exactly where you were on day 1 (Maybe $150K or so richer)

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5 Things you HAVE to know before buying a 7-Eleven!

This is written for anyone that might be interested in purchasing a 7-eleven convenience store in the United States. 

When you are given the 200 page Franchise Offering Circular (The rule book), it can be very difficult to understand all of the “fine print”. 

So here is some of that fine print in laymen terms:

 

1. 7-Eleven will take AT LEAST 52% of your profits.

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