Opening your own 7-Eleven franchise can provide an opportunity to exercise your entrepreneurial spirit while following a proven, standardized startup process. Opening a franchise reduces much of the risk of starting a business from scratch, and franchises like 7-Eleven, which cater to wide, heterogeneous markets, can do very well in the hands of the right owners. Save or borrow the required startup funds for your franchise. Franchisees are also responsible for placing a deposit on the store's opening-day inventory and funding the cash registers to make change on the first day of business.
Get a copy of a business plan for your type of business, and imitate their structure. Hire a professional business plan writer to do the work for you. Just wing it and freestyle.
Not only do they offer a guideline, but depending on your business they might have specific plan examples inside. I never liked the third option, and generally only suggest it to people who are unable to write a plan due to language barrier.
Even then I encourage them to write the plan in their own language and then translate with the help of a friend.
Infact you should always remember the following: Its hard to put a price on the knowledge that you will get while researching and figuring out answers to questions that arise. The rest of this post is to give you a basic idea of what a Business Plan for 7-Eleven might look like, or what you might want to consider including.
Executive Summary — A one page summary of the plan, sort of like a wordy table of contents with a personal touch. Personal Introduction — Introduce yourself, discuss your history and your qualifications, be personable.
If you have anything you want to brag about that will help your chances of getting the store, this is the place to do it.
New construction near by? Staffing Plans — What are your plans on finding, training, and retaining staff. This is going to be the biggest challenge, so make sure you spend some time thinking about it and addressing it. You should also create tentative employee schedules for all seasons, as your store might have very different staffing needs throughout the year.
Budget Forecasts — Follow the worksheet provided to forecast for all aspects of business operations. Personal Income Statement — You want to show that your income from 7-Eleven is more than enough to support your lifestyle, otherwise, you should not be getting into the franchise.
Take insightful pictures that show your understanding of the business. The best way to learn these words is by befriending existing franchisees, taking them out to lunch, and interviewing them.
I wish you luck with your plans and with your business.
In my years with 7-Eleven, I have read dozens of business plans and have been involved in the approval process of many franchisees. If you are getting started on a business plan, I can offer you a variety of services such as: Providing copies of actual 7-Eleven Business Plans.
Familiarizing you with buzz words, key terms, and corporate programs. Reviewing your plan and offering feedback to increase your chances of approval.Feb 08, · This post is about Business Plans in general, but because I have the most experience in the convenience industry, I'm going to focus on a plan for operating a 7-Eleven.
Before getting into any business, whether it's 7-Eleven, or your own independent store, it is very important to have a .
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Investing into 7-Eleven franchise can be costly ranging from $70, to $, which include the equipment and facilities, operational store, furniture and air-conditioning system, an average price when owners put 7 Eleven franchise for sale.
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