Is 7-Eleven a good franchise to own?
We don’t know. In fact, we don’t even understand how their unique franchise arrangement works.
So we’re asking 7-Eleven franchisees to explain how the franchise works, and whether they think it’s a good franchise opportunity.
7-Eleven franchise owners, please answer some or all of these questions by leaving a comment or comment below:
Thanks for your comments!
Some of the increasing numbers of unhappy 7-Eleven owners say the 7-Eleven franchise is like buying a low-paying job.
Others say it’s worse.
Alex wrote:
This is how it works they split 50% percent of everything you make. So pretty much after the split, payroll expenses, maintenance fees, taxes and the list goes on and on… you only make the hours you put in, so say you work 50 hours a week multiply $10 an hr x 50 = 500 x 4 weeks you could make only that 2k a month and if your lucky and 7 eleven decides to give u a good month profit then you can make a couple more g’s or else u can also go negative.
I realized with this company it’s all about luck not how hard you work or how smart you are. They don’t know shit and don’t do shit to help you make money but waste money. It’s bad enough we deal with the store 24/7 but dealing with the consultant who comes every week to help to supposedly help improve sales is the worst part of the week and If you don’t get along with them too bad bc his boss is just like him/her.
If you complain all they say is to sell your store. That’s the worst thing someone can tell u after u invested over 250k with them…
Roti Kapda Makan wrote:
I wouldn’t recommend buying a 7-Eleven franchise.
My reasoning is that they do not allow a franchisee to grow within the system, regardless of having money. the typical ROI is almost 7 years on brand new stores, vs Goodwill stores (running stores) it is almost 4-5 years depends on what kind of premium you pay.
Back to the growth. I had one store for almost 2 years now. I am now approved to buy one more stores, but what sucks is, what if I want 3 stores or more, too bad so bad, 7-Eleven will not approve that. The approval rate to buy more stores is they say 6 months, but it ends up being 1.5 years. And brand new stores are bad investment, because of unknown sales and the Roi.
In conclusion a person does make money, but it is very hard to grow with this business in CA. Dallas, and Florida, however has better opportunity. One would pay anywhere from 400K to 700K in So. Cal for a Store vs in TX or FL one would pay 100K -300K for a very good store.
fukifuki wrote:
Oh well, my friends do not think about buying a 7-Eleven franchise. I am with them and had a really bad time through the years. We work hard and bring the business up but sorry man we did not get paid accordingly.
Their share is fix, their accounting system the worst i ever experienced. Sorry to say but just do your own job, if you are getting 9.00 an hour please do not think about buying this franchise.
7-Eleven Franchisee wrote:
I first started with 7 Eleven as a corporate employee, supporting franchise and corporate stores…
I always heard franchisees complain about SEI [Seven Eleven, Inc.]. Saying they stole money from franchisees, they were paying more for product and the list goes on. Then I became a franchisee. Boy were they not kidding. SEI is a big scam. They take 50% of your gross profit dollars. Yes you do not pay rent, you do not pay electricity, heat and ac. But boy you loose your life! Believe me I did…
If you are truly considering a SEI franchise, just look at the franchise agreement it is over 300 pages long. Every thing is covered you can not beat them. They will fight you every step of the way. Just be careful. I am trying to help you!
Also read:
ARE YOU A 7-ELEVEN FRANCHISE OWNER OR EMPLOYEE? PLEASE SHARE YOUR OPINION OF THE 7-ELEVEN FRANCHISE BELOW.
TAGS: 7-Eleven, SEI, 7-Eleven franchise, 7-Eleven franchise complaints, 7-11 franchise, 7-11 franchise complaints, Seven Eleven franchise, franchise complaints, 7-Eleven franchise cost, 7-Eleven complaints, 7-11 complaints
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View Comments
7 - Eleven are pure evil crooks! They lie and cheat on financials find excuses. It takes them seconds. To take money from you. And you have to jump through hoops to get the money back. They work hand and glove with maintenance and vendors at your expense.
If you are making average salary at your job do not even think about getting a 7 Eleven. It's a mixed bag not all franchises are rolling in money. Some are struggling to make ends meet with extra head ache. The field consultants are touts who distort the realities. If it's such a great bargain then they should quit their jobs and become franchisees!
How much would you make if 711 showed your gross at $185,000?
Can you net 33% of your gross profit if you work 40 hrs. Weekly as manager
In answer to your question, in simple terms that leave no doubt.....NO!
You do the math...15400 month in Gross Profit $ to pay your labor (which is headed to $15 HR and you are open 24hrs) plus taxes and insurance any shortages of cash and merchandise. Monthly maintenance on old bRosen equipment....license fees worders comp, security expenses....get the picture? IF....IF you walked out wit 20K yr it is bease you, your wif and kid's ran the store yourself..
You do the math...15400 month in Gross Profit $ to pay your labor (which is headed to $15 HR and you are open 24hrs) plus taxes and insurance any shortages of cash and merchandise. Monthly maintenance on old bRosen equipment....license fees worders comp, security expenses....get the picture? IF....IF you walked out wit 20K yr it is bease you, your wif and kid's ran the store yourself..
I have a friend who runs a store for a Franchisee and pays him $8000 a month.
Pretty much a rent agreement. He claims he makes a good living.
This what made me look into buying a 7-11.
I read a lot of bad experiences and it seems like it's impossible to make that kind of money.
Any thoughts
What city? What are sales? Gross Profit Percent? Yes that is possible. ...but not the norm. Each location is different. ...sell cigarettes and beer good sales, lousy GP% high theft...sell much food service, high labor and cost control makes or breaks you.
I read that 2 years ago before buying a 7-ELEVEN but didn't trust comments above and I am feeling angry and upset that why I didn't trust those comments and safe myself from destroying my future now I am going to file bankruptcy and about to lose my store for not even a penny getting back from 7-ELEVEN. This company is nothing but a Fraud they lie in beginning and made us sign the contract without reading it but all they said was wrong. I can't even afford to have a lawyer and I didn't even have a $100 in my pocket after spend hundred of thousand dollar anyway this company is scam but nothing more. Beware from it and safe your and your family future from investing in it.
Please don’t consider becoming a 7 Eleven franchise after 41 years as a franchisee I just sold my store and retired, At one time it was a great business to own but it isn’t any longer. All the negative things said are true. Do your self a favor and run from this company. They lie, steal and cheat you at every opportunity. corporate greed is out of control, I’m actually surprised that the government continues to allow all the things that they do and get away with. This is a company with no respect for its employees or franchisees