Is 7-11 A Good Business Franchising Opportunity? |
Going into business for yourself can be one of the most rewarding ways to make a living. Running your own business allows you to have more control over your earning potential, as opposed to working for the same paycheck every month.
If you are interested in starting your own business, but lack the necessary experience, you can easily get started with a franchise opportunity. A franchise offers one of the safest routes for entrepreneurs who are willing to invest a good amount of startup capital. This is because you can get up-and-running with a business that has already been proven to be both profitable and well established. As a business franchise owner, your business is usually an exact or very close replica of other franchises that are already operated by other franchisees.
Before going into detail about what the 7-11 business opportunity actually is, let’s look at what makes franchising so successful. More importantly, let’s explore how to pick the right franchising opportunity for you specifically.
So What Makes A Business Franchising Opportunity Right For You?
Obviously, personal and business goals will naturally differ depending on the individual. This could be anything from how much money you want to earn, to how many hours a week you’d ideally like to work, or even what type of products or services you’d like to sell. However, generally speaking, a good business franchising opportunity usually:
-Has reasonable franchising and startup costs, giving enough prospective franchisees the opportunity to start their own successful business
-Operates under a reputable brand that gives franchise owners a valuable business to run
-Offers competitive pricing on products and services sold through the franchise, so as not to put the franchisee at risk of market saturation
-Has a large range of products and services to sell
-Is relatively easy to manage
-Has a competitive profit-sharing structure which makes your returns worth the investment
These are some of the most important factors required to identify any type of good franchise opportunity. However, when evaluating a good franchise opportunity for you personally, you’ll want to look for a business franchise opportunity that enables you to focus on your strengths while managing the business.
Let’s take a look specifically at 7-11 as a possible franchising option, which operates on a profit-sharing structure of approximately 50%. This means that a franchise business owner (or franchisee) takes approximately half of the profits made by each franchise.
What Is The 7-11 Business Opportunity?
The 7-11 Business Opportunity offers prospective franchisees the chance to own and operate their own chain store, under the already well-established 7-11 brand. The main part of your business will entail selling a very wide range of convenience products (which have already proven to sell quite well in other 7-11 franchise stores). This suggests that your franchise will probably run very well, assuming you do your due diligence and complete some detailed market research, location research, etc.
To start your own 7-11 franchise store, you will need between $37,200.00 and $1,635,200.00 of start up capital. The actual franchise fee (your license to operate the franchise) is between $10,000.00 and $1,000,000.00 (depending on the size and location of your franchise store). The rest of the money you will need to invest will help create part of the business’ liquid cash (the money you’ll need to run the business). The amount of liquid cash required ranges from around $50,000.00 to $150,000.00
The 7-11 franchising opportunity has several of its own franchise support systems, which include localized training, toll-free hotlines, as well as marketing and advertising support (this includes access to an entire team of 7-11 marketing staff).
Based on its reasonable startup costs, quality and range of products, and franchise support, the 7-11 business opportunity is one of the better franchise opportunities out there. However, what usually determines the growth and profitability of your individual business franchise is how well you decide to run and manage it. This means that some amount of regular involvement might be needed in order for your franchise to be successful. To learn more about the 7-11 business opportunity and how to start your own successful business see, The Business Success Blueprint
Edward Rosenberg is a professional business and marketing expert. He has studied, researched, and implemented dozens of various marketing methods for several businesses over the past 5 years. To find out more about Edward, Click Here
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