WASHINGTON, June 9, 2015 — The green and red 7-Eleven store is a familiar site in Washington. In fact, there are 655 stores in the DC metro area. More than 93 percent of those stores are franchise owned.
There are a few more weeks left for entrepreneurs, including veterans, to apply for the 7-Eleven, Inc.’s Zero Franchise Fee Initiative. Through the program, franchise fees will be waived on some 7-Eleven store locations. This could realize savings of up to $80,000 to a new franchisee.
Applications must be filed by June 30, 2015.
The stores are available in both the DC-metropolitan and Baltimore areas. The stores being offered for the greatly reduced startup are mostly in locations where there is a lower sales volume. Through the Zero Franchise Fee program, franchisees may qualify for additional, limited-time financial support
The reduction in franchise fees is to allow new owners the necessary time to build up their business.
“We have had great response from aspiring entrepreneurs who saw a chance to go into business for themselves without the upfront expense of the one-time franchise fee,” says Greg Franks, vice president of franchising systems. “The Zero Franchise Fee initiative offers the new owner a chance to build a strong customer base and business, while backed by our proprietary systems, processes and ongoing support.”
According to 7-Eleven, Inc.
- There are 37 “Zero Franchise Fee” stores available in the DC, Maryland and Virginia markets, and more than 18 percent of the store units available nationwide.
- 7-Eleven has previously issued the “Veterans Franchise Giveaway” program throught which 7-Eleven received an unprecedented number of applications from more than 1,700 veterans, 18 percent of which were from the DC, Maryland, and Virginia markets.
- By waiving the initial franchising fee for a select number of lower-volume stores, 7-Eleven is enabling qualified men and women to own a store with easier market entry, less capital risk, and with the support of the world’s largest retail franchisor.
- 7-Eleven’s rapid growth (U.S. store base is up 1,600 units in the last four years alone) has provided more than 200 available stores eligible for the Zero Franchise Fee opportunity.
- In addition to the new Zero Franchise Fee program, 7-Eleven offers a Gross Income Support Program that provides an allowance up to $30,000 annually for qualifying stores with a gross income of less than $185,000.
- 7-Eleven’s “Franchise Assistance Program” applies for qualified franchisees to receive a $20,000 loan that does not need to be repaid if the franchisee keeps the store for two years.
According to press releases, the franchising process can take anywhere from five to seven months. Franchisee qualifications include being 21 years or older and a permanent U.S. resident, and having excellent credit and $50,000 in liquid assets.
Prospective franchise owners will still be responsible for the costs of licensing, permits and the initial down-payment on inventory, totaling approximately $30,000.
Franchising information also is available at http://franchise.7-eleven.com/
The above article is based on information provided by 7-Eleven, Inc.