With its convenient access to necessities like food and products, convenience stores are a mainstay of contemporary civilization. With several chains and independent retailers dispersed all throughout the United States, it’s no surprise that they have a thriving industry. Who owns the biggest convenience store in the US, though, is a valid question.
7-Eleven is the solution. 7-Eleven is the biggest chain of convenience stores in the United States, with more than 9,000 locations nationwide and more than 70,000 globally. The chain is renowned for its open around-the-clock hours, extensive product line, and recognizable Slurpee beverages. In addition, 7-Eleven is constantly growing, with ambitions to open 20,000 more locations around the world in the upcoming ten years.
Let’s now discuss if it would be a smart idea to open a convenience store. Yes, it is possible for it to be a successful business. It does, however, need rigorous planning, research, and execution—just like any other firm. The first step is to pick a location with a lot of foot traffic and that is simple to get there. It’s also crucial to research the competition and find the goods and services that are in demand but difficult to find locally.
Furthermore, you need to provide more than just the essentials at a convenience store to make it viable. Adding value-added services like a coffee shop, a sandwich shop, a mini-pharmacy, or even a vehicle wash is something to think about. These extra offerings might help your business stand out and draw more clients.
Why are all convenience stores owned by foreigners is a related query that comes up. The truth is that foreigners are drawn to the convenience store business model since it is a well-liked franchising option. Additionally, first-generation immigrants who perceive it as a lucrative economic opportunity operate the majority of convenience businesses.
Let’s finish by discussing the price of a 7-Eleven franchise. Depending on where it is and how big the store is, the initial investment might be anything from $50,000 to $1.5 million. The franchise price, however, ranges from $10,000 to $1,000,000. Additionally, 7-Eleven offers its franchisees ongoing support and financing choices.
Conclusively, convenience stores are a lucrative industry, with 7-Eleven being the biggest chain in the country. You must locate a strategic location, provide value-added services, and determine the goods and services that are in demand for your convenience store to be profitable. Even though many convenience stores are owned by foreign nationals, anyone who is ready to put in the work can succeed in this line of work.