7-Eleven Is Waiving the Franchise Fee on More Than 200 Locations
If you're interested in opening a 7-Eleven, now may be a good time to take action.
From Feb. 17 to June 30, 7-Eleven is waiving the franchise fee on 200 stores available for franchise across the U.S., the company announced earlier this week.
The company plans to transition the stores, located in cities including Charlotte, N.C., Dallas/Fort Worth, Manhattan, N.Y. and Jackson, Fla., from corporate to franchise operations. Typically, the available stores have lower sales volume compared to the national average.
"These locations offer would-be entrepreneurs a chance to go into business for themselves without the expense of the one-time franchise fee," Greg Franks, vice president of franchising systems, said in a statement. "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."
Potential franchisees will still have to meet 7-Elevens standard franchisee qualifications, including being a permanent U.S. resident, having excellent credit and $50,000 in liquid assets. While not paying the franchise fee will save franchisees costs of up to $80,000, franchisees will still be expected to pay for licensing, permits and the initial down-payment on inventory, which the company says costs approximately $30,000 total.
7-Eleven is also in the process of selecting a winner of its first veteran franchise giveaway contest. The winner is expected to be announced in April.