Demand for 7-Eleven franchises up
New 7-Eleven franchisees say that owning a proven, successful business while receiving support and training from the world’s largest convenience retailer make for a rewarding business venture even in a challenging economy.
Because Florida is one of the last states where 7-Eleven, Inc. is converting its company-operated stores to franchises, some new owners have moved to the Sunshine State to take advantage of what they see as a rare opportunity to be their own bosses. Many local residents also have jumped at the chance to become part of one of the world’s most recognized brands.
7-Eleven has been converting about 8 to 10 company-operated stores to franchises each month in Florida. The company recently franchised its 100th store in the state. There are currently some 460 7-Eleven stores still available for franchising in the Tampa/St. Petersburg, Orlando, Daytona/Melbourne, Ft. Myers/Naples and South Florida areas. 7-Eleven began franchising its previously company-owned stores in late 2007 in the Miami area and franchising other parts of Florida the following May.
7-Eleven provides the land, building, equipment and a turn-key operation for its franchises. The average up-front, total investment for a 7-Eleven franchise is between $175,000 and $250,000, although the cost may vary by store and region.
The Fort Myers/Naples area has several new and successful franchisees such as Dashmesh Sethi and Nitish Malik.
Setting up own shop
Dashmesh Sethi, age 28, had grown up working in his family’s sandwich franchise shops in Pennsylvania and Florida, but he always wanted to be an independent businessman.
He also wanted to get a business that offered a larger variety of products. He was researching several companies when he heard about the franchising opportunity with 7-Eleven. It seemed like just the opportunity he was hoping for.
“I wanted to do something on my own,” Dashmesh said. “And 7-Eleven had such a great support system for the franchisee.”
He franchised his first store at 1688 Colonial Blvd. in Fort Myers in November of 2008.
He really enjoys testing new 7-Eleven products with his customers to see what suits their needs and tastes. He recently started offering fresh-cooked pizza through a new 7-Eleven program, and the customers ate it up. He can hardly keep up with demand on weekends.
“It’s long hours at the beginning,” Dashmesh said. “But if you’re smart and can organize your crew, the benefits are great.”
He hopes to get his second store very soon.
Putting school on hold
Nitish Malik was thinking seriously about going to graduate school for an advanced degree in business when he realized he could get great experience and become a successful store owner right away.
Nitish, age 24, had grown up working in his father’s 7-Eleven stores in New York. His uncle also is a franchise owner in that area.
“They were my inspiration,” Nitish said.
He had researched many different business possibilities and was mulling over his next move when he heard about the Florida franchising program. He figured he’d be foolish to ignore a chance to get a 7-Eleven operation in the Sunshine State.
“I thought this was as good a training for business as school would be, and it was an opportunity that I couldn’t say ‘no’ to.”
He franchised his store at 2135 Tamiami Trail East in Naples in October 2008.