7-eleven franchise experience

[Taggy]

hi Bros/Sis,

 

I visited this 7-eleven franchise road show at marina square yesterday.

Many people are there inquiring. I saw both young and old.

 

-initial investment can range from 50k to over 200k, depending on takeover store location.

-have to attend 3mths training on store management.

 

I had been an employee for 13 years, so now thinking whether to switch path.

No prior experience in doing business.

Never work in any front line job.

 

I view this as a chance to be own boss and switch line.

But this is not a small investment for me.

does any bros here have experience in this area? or any other franchise? anything to take note...

the first feedback i got so far is, Cheers is cheaper than 7-eleven...

 

thanks & regards

 

[Dgeralds]

I attended one 7-eleven franchise 5 years back. After much calculation decided not to go into it. On the outlook all franchise look like you can be own boss but remember the franchise fee will be proportional to the money you make. Sometimes your net profit could be even as low as $1500 per month; not forgetting that you will work night and day and weekends. Iam not discouraging you. Just be open and gather much feedback before you put your hard earned money.

[Ryosuke]

how abt econ mini mart?

[Kangadrool]

Agree, if it is damn great, they would have employed their own staff and manage it themselves. Keep the profits IN.

 

Maybe driving taxis or container truck will make more $$$ than running these franchised provision shops. My 2 cents.

[Surferguy1978]

interesting topic. i would like to know more about franchising too. keep the feedback flowing in. =)

 

there was once when i tot of franchising old chang kee at a MRT. seems like easy money to me based on the crowd i saw at some of the old chang kee store near mrt. but on second thought, if easy money, all singaporean would have huat liao.

[Acanthus]

Econ monimarts are no longer like last time.

 

Once a Sheng Siong opens nearby your minimart, it's game over.

[Turbonetics]

i would say locations are very important.

but then usually higher in rental as well.

 

[Picanto]

hi Bros/Sis,

 

I visited this 7-eleven franchise road show at marina square yesterday.

Many people are there inquiring. I saw both young and old.

 

-initial investment can range from 50k to over 200k, depending on takeover store location.

-have to attend 3mths training on store management.

 

I had been an employee for 13 years, so now thinking whether to switch path.

No prior experience in doing business.

Never work in any front line job.

 

I view this as a chance to be own boss and switch line.

But this is not a small investment for me.

does any bros here have experience in this area? or any other franchise? anything to take note...

the first feedback i got so far is, Cheers is cheaper than 7-eleven...

 

thanks & regards

 

 

if you can only pump in 50k, then i think they will not give you a good store location. how much can you pump in?

[Hotamp]

I attended one 7-eleven franchise 5 years back. After much calculation decided not to go into it. On the outlook all franchise look like you can be own boss but remember the franchise fee will be proportional to the money you make. Sometimes your net profit could be even as low as $1500 per month; not forgetting that you will work night and day and weekends. Iam not discouraging you. Just be open and gather much feedback before you put your hard earned money.

 

 

my take on this is....is there a need to get a franchise for 7-11 type thingy?....their products are basically everyday item where you can get from suppliers yourself...the setup costs( rental, products, power, staffs) you still need to pay right? hummm...costs already high, why still pay the franchise fee? 7-11 to me is a 24hrs mama shop...no big deal. if you have a good location, you can do away with the 7-11 branding....my 2 cents

[Jeff49er]

I too wanted to attend but the capital is very high. If I have $50k I can invest in shares.

[Fattychubby]

why spend on the franchise fees.. check out the ST classified ads on the business opp. columns.. with that money you can take over an existing minimart that is well stock.. i dont see how tough it is to manage the P&L of a minimart right. make sure you are situated far from the GIANT, FAIRPRICE & SHENG SONG :)

[Picanto]

I too wanted to attend but the capital is very high. If I have $50k I can invest in shares.

 

 

that's even more dangerous.

[Limxiaoming]

I ever gave it a thought before.

 

My GF has this customer who visits her bank on a frequent basis and she claims that this particular person has 4 7-11s under his care.

 

She told me that this guy is making big bucks.

 

I, one day was just so interested in his 7-11 business decided to ask him for tips and ideas.

 

Thats when he told me, 'trust me boy, the money i earn is not from the 7-11 i have.'

 

that was when i gave up the idea

[Ghostami]

Haha... Yeah, there are quite alot of people in Singapore who's main business are not their legal parts... Sometimes, or rather, most of the time the best money are made through under the radar... But there are prices to be paid when caught.

Edited September 6, 2009 by Ghostami

[Taggy]

if you can only pump in 50k, then i think they will not give you a good store location. how much can you pump in?

 

 

i m thinking between 130k to 180k.

And there is another 20k to be paid as initial working capital to 7-eleven

 

i myself is debating:

1. if it is so good, then why 7E want to make it franchise...

2. ntuc and shop&save also start to be 24hrs already, how to compete...

3. it is not going to be good money, going to take quite a few yrs to cover the franchise fee and my salary

4. personally i seldom go 7E to buy things, bec already noe it is more exp, only going for parking coupons, newspaper, and drinks when there is few other choices.

 

but on the other hand, intangible benefits that i can think of:

1. may be a easier way to get into business for people without experience (like me)

2. end of the 7yr franchise, should have accumulated some knowledge in running a simple business

 

 

welcome all bros/sis to debate on pros and cons....

[Jman888]

if you have no experience in retail business and don't mind looking at more options, you can try Subway, or other F&B, laundry franchise

[Blackyv]

if you have no experience in retail business and don't mind looking at more options, you can try Subway, or other F&B, laundry franchise

 

heard need min 300K for subway franchising...not sure true or not..

 

[Ghostami]

if you have no experience in retail business and don't mind looking at more options, you can try Subway, or other F&B, laundry franchise

 

 

I heard for subway, you need to work for subway once before you can invest in it, not sure how true is it.