7-Eleven Inc., the Dallas-based convenience store operator of more
than 7,300 stores in North America, has been recognized as the
number-one franchise opportunity in Entrepreneur magazine’s
"Annual Franchise 500" rankings for 2008. This marks the first time the
convenience retailer has captured the top spot and recognizes 7-Eleven
for its accelerated franchising activity, expansion and solid business
"After researching hundreds of opportunities, 7-Eleven rose to
the top based on their strong growth, financial stability and long-term
commitment to franchising. Their ranking is particularly significant
since they’re a new No. 1 titleholder in the Franchise 500 for the
first time in seven years," says Rieva Lesonsky, editorial director and
senior vice president of Entrepreneur.
Entrepreneur’s "Franchise 500" is considered the most
comprehensive franchise ranking in the world. Factors considered for
the honor include financial strength and stability, growth rate, size
of the system, and initial investment.
"7-Eleven is committed to supporting entrepreneurs who wish to
run their own retail outlets with an industry-leading brand, strong
infrastructure, cutting-edge technology and a passion for innovation,"
said 7-Eleven President and CEO Joe DePinto. "We are very proud and
appreciative of this recognition, and it is shared by our franchisees
across the country, who are contributing to our joint success and
7-Eleven began 80 years ago when a Dallas ice dock operator
decided to add milk, eggs and bread in response to his customers’
needs. The company’s first expansion outside Texas was into Florida.
The retailer entered the franchising arena in 1964 with the acquisition
of Speedee Mart, a chain of franchised convenience stores in
California. Since then, the company’s well-known brand and convenience
retail model has spread around the world with some 33,300 stores in 17
countries and one U.S. territory. Total revenue for 7-Eleven stores
worldwide was $44 billion in 2006.
The honor comes at a good time for the operator. 7-Eleven
recently announced that it was becoming a fully franchised organization
and is actively converting historically company-operated stores in
Virginia, Texas, Colorado, Utah and Florida to its franchise model. The
company also has embarked on its Business Conversion Program offering
existing convenience and other retail operators the opportunity to
re-brand their stores as 7-Eleven outlets under this new franchise
"Our company is grateful for the public acknowledgment of our
franchise system’s success by Entrepreneur magazine, one of the top
publications for independent business owners," said Jeff Schenck,
7-Eleven senior vice president for franchising and store development.
"We see tremendous potential for expanding the 7-Eleven brand."
"Our reasonable cost of entry plus operational, merchandising
and IT support make 7-Eleven a very attractive franchise business.
Convenience is a highly valued commodity among time-pressed consumers
in the U.S. and around the world. We make it possible for hard-working
business people to capitalize on this."