7-Eleven selected as No.1 franchiser by business magazine
7‑Eleven, Inc. has won the coveted No. 1 position among the franchise elite in Entrepreneur magazine’s 38th annual Franchise 500.
Entrepreneur magazine has selected 7-Eleven as the this year´s number 1 franchise among the top 500 in the world.
“As a franchisor, being recognized as the No. 1 business opportunity by Entrepreneur Magazine is a tremendous honor,” said 7‑Eleven President and CEO Joe DePinto.
Entrepreneur evaluates companies on several key factors: costs and fees, size and growth, support, brand strength, and financial strength and stability. All franchises are given a cumulative score based on more than 150 data points, and the 500 franchises with the highest cumulative scores become the Franchise 500 in ranking order.
“Franchising is ever-evolving, and factors such as social media presence and financing availability have become increasingly important,” explained Jason Feifer, editor-in-chief of Entrepreneur.
7‑Eleven created the convenience store concept 90 years ago when a Dallas ice-dock operator decided to offer milk, eggs, and bread in response to his customers’ needs.
Today, 7‑Eleven is the largest convenience store in the world. 7‑Eleven operates, franchises or licenses more than 61,000 stores in 18 countries. Almost 11,000 of those are in North America, and 7‑Eleven plans to increase its U.S. presence significantly in the coming years. Currently, 90 percent of 7‑Eleven stores in the U.S. are franchised.
To streamline the franchising process, 7‑Eleven has developed an online application, and franchise candidates can be approved, trained to operate their stores in as little as three to six months.
