With the surge of fast food chains in the country, convenient shopping follows next. The rise of convenience stores in the Philippines sprouted like mushrooms. By definition, convenience store is a small business that offers a variety of day-to-day items. These include grocery items, snack foods, soda drinks, newspapers and over-the-counter drugs.
One of these convenience stores that are popular in the country is 7-Eleven. It is a store that never sleeps because it serves the people 24 hours a day, 7 days a week. Who would have thought that a simple convenience store like this would be so famous and as time passes by becomes so successful?
In 1927, 7-Eleven started as a small company in Texas, USA which was called Southland Ice Company. At that time, it only offered bread, eggs and milk. What was astounding to this company is that it offered their products even after store hours thus pioneering the concept of a convenience store. By 1946, the company changed its name to 7-Eleven and was open for a longer period of operating hours which starts from 7AM to 11PM.
How It Started In The Philippines
Sometime in October 1982, the Philippine Seven Corporation obtained the license in using the 7-Eleven Convenience Store System from Southland Corporation. That same year, 7-Eleven was registered with the Securities and Exchange Commission (SEC), further cementing its hold of being a pioneer in the country’s ever growing convenience store business.
Setbacks as Part of Growth
Even though the goal of the company is as simple as to provide quality food products to the masses 24/7, just like any other successful companies, 7-Eleven suffered major setbacks. After experiencing a major blow, within that year it was able to open another branch. This is the start the growth of 7-Eleven to the point that it can be seen almost anywhere in the country.
In 1998, the Philippine Seven Corporation widened its horizons by opening its stores to franchise. For expansion, the PSC collaborated with a Taiwanese firm and it never made a major mistake since then. It provided innovation for the masses offering a variety of products from cool drinks to hotdog sandwiches.
7-Eleven Franchise Details
For over 25 years of convenience store experience, 7-Eleven offers a tried and tested retail system that gives access to its logistics and other distribution resources. For the franchisee, he will also be given monthly financial and marketing records, developmental marketing plan and a comprehensive training program on operation and management.
But before embarking on what the company can offer you, there are qualifications by which the franchisee must possess. These are the following.
- The entrepreneur must be enthusiastic, ambitious and has the heart to overcome any setbacks he may face in the future
- He must have the resources to fund the capital he needs for the investment
The franchisee must have the desire to gain more knowledge by undergoing a full-time 4 weeks training
- He must have the flexibility to work with other franchisors
- He should possess unequal leadership and appropriate skills in managing the business
- So that he can oversee the day to day operation of his business, he must devote most of his time in this business
Complete the Requirements First
Now that you have known the qualifications of franchising a 7-Eleven Convenience Store, it is time to get the paper and other documents done. Every franchisee must comply with these pertinent documents in order to kick start the business and become part of the most innovative and ever growing convenience in the country.
- A well written Letter of Intent
- A properly accomplished Application Form
- Franchise fee of P600,000 in case you will be chosen as one of the franchisees
Advantages of Owning a 7-Eleven Franchise
Owning a business is a dream to many. Running a business is perhaps a breakaway from the usual boss-employee relationship. One of the most popular businesses today is the opportunity to manage a convenience store. At any time of the day, people would stop and pick up the necessary things they need. The convenience they get from the store is unparalleled.
Common Customers are Frequent
Once you own a business like this, it becomes a destination in the neighborhood. Everybody from the community will visit the store for their immediate needs. They know for sure that the things they need are readily available in the convenience store.
You can set your Own Price
It is a reality that prices of commodities from a convenience store are a bit higher than the little shops around. This is because of the satisfaction people can get from a convenience store. In addition to that, there has never been any convenience store that is not open 24/7.
It is Easy to Get Started
In franchising a 7-Eleven Convenience Store you only need the desire and positive character to make things happen. The documents are also easier to prepare. Total requirements are rather basic and one of the most important things you are asked to provide is the fund needed to own your own franchise.
There Are Also Disadvantages Of Owning A 7-Eleven Convenience Store
They Are Open For A Longer Period Of Time
Although some convenience stores are open from 5AM to 11Pm, it is still a long period in business operation. One of 7-Eleven’s goals is to provide products and services to people from all walks of life. This is the reason why it operates 24 hours a day, 7 days a week.
Losses are Inevitable
In a convenience store like 7-Eleven, food products are always served. Even if these foods are well-preserved, they will still expire. Although the owner can limit these losses by having snacks and drinks that have a longer expiration period, it cannot be totally avoided. This is where the importance of inventory comes into place. Even popular products are purchased on a regular basis you still need a full hand to tackle the situation accordingly.
If you are really interested in joining a successful business like franchising a 7-Eleven convenience store, the contact details are as follows:
Address: 7th and 11th Floors Columbia Tower, Ortigas Avenue, Mandaluyong City 1550
Tel. Numbers: +6327269968
Mobile Numbers: +639178711686 or +639209508651
E-mail Address: firstname.lastname@example.org
Contact Person: Ms. Nicole Angelica B. Villano
Franchise PR Specialist