7-Eleven going the franchise route, local opportunities available
7-Eleven Inc. is planning to convert its company-operated stores in the region to franchises as part of a national strategy to become a fully franchised business.
The Dallas-based convenience-store chain has 951 stores in D.C., Maryland and Virginia, and 413 of them are currently franchises, according to 7-Eleven officials. Over the next five years, 7-Eleven expects to convert the remaining 538 company-operated stores to franchises. So far this year, 12 company-operated stores in the Washington area have been turned into franchises, and 7-Eleven officials plan to convert about 100 more by year’s end.
As part of a franchise agreement, 7-Eleven leases the land, building and equipment and then shares in the store’s gross profits. People interested in owning a franchise must pay a fee. The average upfront investment for a franchise in Northern Virginia, for example, is between $180,000 and $250,000, depending on the store’s gross profits.
A typical store is 2,400 to 3,000 square feet.
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