7-eleven franchise business model of providing convenience


How is 7-Eleven building trust with Franchisees?



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7-Eleven Franchise Business Model of Providing Convenience
How is 7-Eleven building trust with Franchisees?
With their Open Account System, even with a small number of funds, franchisees can start the business and operate it stably with 7-Eleven’s settlement and financing designed system.
A Guaranteed Minimum Gross Income System where a franchisee is given a guarantee for a certain amount of the franchisee’s gross income. The gross profit is split between the franchisee and headquarters according to a pre-defined percentage.
Notes:
1. Gross Profit = Net Sales – COGS (calculated by subtracting costs of inventory loss, merchandise disposal, and rebates from gross COGS.
2. Franchisee’s Gross Income = Gross Profit on Sales – 7-Eleven’s charges
Along with existing Franchisees, it also helps prospective franchisees for transition and to effectively utilize the retirement funds for the purchase of the franchise.
Trader Joe’s- a giant retailer but has no online presence, discounted sales, loyalty rewards, or membership program but is thriving with its 3 critical pillars. What are they?

Key Strengths of 7-Eleven Business Model
• Store Network: Market Concentration Strategy is the foundation of high-value-added products and services.
• Item wise Management: It has built the world’s one of the largest information networks which link stores, headquarters, distribution centers, and suppliers to maximize the efficiency of store operations along with profits.
• Original Products: 1000+ original products with their own production facilities and distribution centers is the key differentiator and greatest strength behind strong store loyalty.
• Service Development: A diverse range of services like ATM services, acceptance of bill payments, meal delivery services, etc. contributes to growth in the number of customer visits.
• Customer Obsession with Constant Innvovation:
With a legacy of innovation, they are the beginners of operating 24*7, offering a self-serve soda fountain and providing to-go coffee cups. In honor of the world’s favorite frozen drink, they coined the phrase “Brain Freeze, followed by the SLURPEE drink, the BIG GULP, and then the BIG BITE continuing the history of innovation and fueling it through digital initiatives.
Being CUSTOMER OBSESSED, they always make sure that they remain two steps ahead, pursuing innovative ways to cater to tech-savvy customers. They are the leaders in CONVENIENCE, constantly putting their customers at the center of design and development, from providing user-friendly tech-platform to having the drinks served at their platform.
Redefining convenience, with one digital initiative at a time, they are transforming their business and enhancing customer experiences through constant digital innovation and providing effortless solutions by bringing the stores to their customers wherever they are and whenever they need even before customers know.
Leveraging these strengths 7-Eleven has grown modestly with a CAGR of 2.6% while maintaining close relationships with all the stakeholders along with scaling their operations high.



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