This past week I attended a seminar regarding 7-eleven “going franchise”.  It was interesting to hear that the #1 franchise system (ranked by Entrepreneur in 2008) has plans to sell all their corporate owned stores and are “going franchise”.  7-Eleven, the largest convenience chain in the world, and their franchisees benefit from both the exclusive brands and also the economies of scale.  There are numerous advantages to “going 100% franchise”.  “After a lot of study and spending time with the franchisees in their stores, the company came to the realization that the franchisees were closer to the consumer and understood what they wanted.  [Franchisees] know many of their customers by first name.  They know their local neighborhood and communities, so we made the decision to move to a 100-percent franchise organization,” said CEO Joseph DePinto.

Franchisees typically outperform corporate stores.  Going franchise will help 7-Eleven sharpen their focus and improve financial results.  This makes sense to me, as the franchisees have a vested interest and will execute plans better.  7-eleven, operating more than 33,700 stores worldwide, has done a great job of simplifying their processes; they have the systems and processes in place; and they have done a great job with technological advances.

I see many franchisors following this lead and selling corporate stores.  As a business broker, I enjoy working with franchisors like this as they typically have excellent books and records (which I find key in any business sale).  To learn more about the opportunities available and receive a list of these and other corporate-owned opportunities, call 407-421-0772 or email franzjon@cfl.rr.com

Whether you are starting a business from scratch or purchasing an existing business, there are many things that you will need to do to make sure everything is set up appropriately (create entity and dba, find insurance, transfer utilities, apply for city, county, state licenses, etc. ). When I work with buyers, I provide to each buyer a “Business Buyers Checklist” and help walk them through the process to ensure a smooth closing and transition. You may find my checklist on my website at this link: Business Buyers Checklist.  Another great resource for business buyers is the “Florida Business Guide” (which can be purchased online at www.floridabusinessguide.com ). If you have further questions, feel free to call anytime at 407-421-0772 or drop me an email at franzjon@cfl.rr.com