7-eleven franchise business model of providing convenience



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7-Eleven Franchise Business Model of Providing Convenience

7-ELEVEN FRANCHISE BUSINESS MODEL OF PROVIDING CONVENIENCE
Back in 2019, when I was traveling to Malaysia, the first thing that caught my attention was 7-Eleven Stores. Wherever I went across from bustling commercial districts to serene residential areas, from petrol stations to shopping malls, 7-Eleven Store was always there for me.
This compelled me to visit one of them. And it is a ONE STOP SOLUTION for all travelers. This store carried 2200+ SKUs, including their proprietary brands – Slurpee and Big Gulp. It also provided a series of services like photocopying, fax, ATM, bill payment service, a bulletin board for neighborhood community services. As a business enthusiast, this made me more curious to know about the business model of these 7-Eleven chain stores and how it operates.
7-Eleven, the world’s largest convenience retailer, is a known and loved brand worldwide. Their continuous focus is on making the life of their customers easy, inventing and rethinking ways to stay convenient in this constantly changing world, and making the everyday shopping experience easily accessible.
7-Eleven, Inc. is an American chain of convenience stores. It was named Tote’m Stores between 1928 and 1946. After 70% of the company was acquired by Japanese affiliate Ito-Yokado in 1991, it was reorganized as a wholly-owned subsidiary of Seven-Eleven Japan Co., Ltd. in 2005, and is now held by Chiyoda, Tokyo-based Seven-Eleven Japan. 7-Eleven operates, franchises, and licenses 72,500+ stores in 17 countries across 10,000 locations, as of 2021.

Evolution of 7-Eleven
In 1927, John Jefferson Green had a very bright idea to make life a little easy for his customers by selling everyday staples from the dock of a local icehouse in Dallas, Texas. This gave birth to the world’s first convenience store.
In 1933, the ice dock started selling beer and liquor, which impacted the store’s growth drastically.
In 1937, Uncle Johnny’s idea was taken to another ice dock, and within a decade, the number of locations tripled, selling the new product lines. These new convenience stores were known as Tote’m stores.
In 1946, to reflect the new extended hours from 7 AM to 11 PM, seven days a week, the name was changed from Tote’m stores to 7-Eleven.
This has become a growing Global Brand with a new store opening every 4 hours and six stores opening daily. It opened 2100+ net new stores in 2020.
Fun Fact: 7-Eleven was the first convenience store to offer ATM Service, gas, and coffee to go.

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