7-Eleven is one of the most popular convenience store franchises in the US, with sales totaling tens of billions in recent years. So, if you want to invest in a type of real estate that will give you a consistent return on investment (ROI), a 7-Eleven franchise might be the perfect opportunity for you.
In this article, we will offer you a complete guide to purchasing a 7 Eleven for sale, including the franchise requirements and the steps to buying a property. So, if you are a new investor or one who wants to extend your portfolio, read on!
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About 7-Eleven
First established in 1927, 7-Eleven is now the world’s largest convenience store chain. With locations in 17 countries, the company is a truly global brand. In the US alone, the company has more than 9,000 store locations as of March 2022.
7-Eleven is well known for its Slurpee drinks, but the chain also offers a wide range of food items and services, including hot food, cold drinks, cigarettes, lottery tickets, and more. The company’s focus on convenience means that it is always looking for new ways to make shopping faster and easier for its customers.
Why Invest in a 7-Eleven Store
There are many reasons why you should take 7 Eleven franchise opportunities available today. Here are some of the key benefits.
- 7-Eleven is a well-known and trusted brand.
- The convenience store market is growing rapidly
- 7 Eleven stores generate good ROI.
From the net leasing perspective, there are also other great benefits that you can enjoy as an owner of a 7-Eleven property, even if you are not the franchisee yourself. You will benefit from what NNN properties bring to the table such as the following.
- You are not responsible for most of the expenses in running the property, such as property taxes, insurance, and maintenance (7-Eleven, as the tenant, will handle these things).
- The tenant is also responsible for all of the repairs and replacements to the building and property.
- 7-Eleven is a creditworthy tenant that pays its rent on time every month.
- You are assured of low tenant turnover rates as 7-Eleven is a stable, long-term tenant.
- You will enjoy predictable rent increases.
- You can expect a steady stream of passive income for the long term.
Generally speaking, 7-Eleven stores offer a high ROI, with some franchises achieving an ROI of over 200% in as little as five years. So, if you are looking for a solid investment opportunity, these properties should be at the top of your list.
7-Eleven Franchise Requirements
Before you can purchase their stores, there are a few pieces of 7 Eleven franchise information that you need to know first. 7-Eleven is quite stringent when it comes to its franchisees and looks for individuals who can meet the following requirements.
- A minimum net worth of $750,000
- At least $350,000 in liquid assets
- A minimum of five years’ experience in retail or business management
- The ability to open at least two stores in the first five years
If you meet all of these qualifications, then you are ready to begin the process of purchasing a 7 Eleven store.
The Process of Buying a 7-Eleven Franchise
The process of buying a 7-Eleven franchise is not as simple as buying a regular business. There are several steps that you need to take, and we will outline them for you here.
Step One: Research the Franchise and Make an Offer
Before making any decision, it is important that you do your research on the franchise. 7-Eleven is a reputable brand, but that doesn’t mean that all properties are ideal for you. Make sure that you read up on the franchise’s policies and procedures, as well as the financial requirements.
The same thing is required if you want to buy existing 7-Eleven stores—you should do your research on potential properties. For example, you can assess the options on this page, https://www.buynnnproperties.com/7-eleven/. This is a listing operated by one of the most trusted NNN property deal finders in the US.
Once you have a few options in your mind, it is time to make an offer. In doing so, here are important aspects to keep in mind depending on your situation.
- The amount of money that you are willing to invest
- Your desired return on investment (ROI)
- The lease term you are looking for
- The amount of rent you can expect each month
- Any other fees and expenses that you may incur
7-Eleven stores can be a great investment, but it is important to remember that not all of them are created equal. Do your research, make an offer, and then proceed to the next step if you are accepted.
Step Two: Complete the 7-Eleven Franchise Application
After submitting your offer for a 7 Eleven franchise for sale, the franchisor will request that you complete an application process. This is quite detailed and asks for a lot of information about yourself and your business experience. The company wants to make sure that its franchisees are qualified and have the resources necessary to successfully run a store.
The application will also require you to provide financial statements, so make sure that you have access to this information before submitting your application.
Step Three: Attend the 7-Eleven Franchisee Orientation
After submitting your franchise application, the company may request that you attend an orientation. This is a two-day meeting where the company’s representatives will go over the details of owning and operating a 7-Eleven store.
This meeting is mandatory for all new franchisees and is an excellent opportunity for you to ask any questions that you may have.
Step Four: Sign the Franchise Agreement
If the franchisor approves your franchise application, they will send you a franchise agreement to sign. This document outlines the terms and conditions of buying a 7 Eleven for sale.
It is important that you read this document thoroughly and ask any questions that you may have before signing.
Step Five: Open Your 7-Eleven Store
After signing the agreement, the franchisor will give you a target date for opening your store. This process usually takes about four months, so make sure that you are prepared for it.
During this time, 7-Eleven will provide you with all the resources necessary to open your store. They will also send a representative to help you get started.
Final Thoughts
Without a doubt, buying a 7 Eleven for sale is one of the most lucrative investment decisions that you can make. Just make sure that you are prepared for the process, which includes completing a detailed franchise application and attending a mandatory orientation. If you can handle these requirements, then buying their stores is definitely the right decision for you.
Are you looking for more information that you can use in starting and growing your business? Feel free to check out the other posts on our website!
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