A neighborhood institution in thousands of communities is reaching out to military veterans who may consider owning their own business. 7-Eleven is not only recruiting veterans, the convenience store chain is offering financial help to make owning a business a reality.
Dallas-based 7-Eleven Inc., the nation’s largest convenience store chain, is now discounting its franchise fee for retired or inactive U.S. military veterans who were honorably discharged. 7-Eleven’s 10 percent discount of its initial franchise fee for a first store can mean $1,000 to about $35,000 in savings. The average up-front investment for a 7-Eleven franchise is about $225,000, including the franchise fee, as well as opening inventory, business licenses and other costs.
“This is the first time we have offered a reduction like this in our franchise fees, and I can’t think of a better group to receive this benefit than the men and women who have so selflessly served to protect the freedoms we enjoy in America,” 7-Eleven chief executive Joe DePinto said in a media release. A former U.S. Army officer, the 7-11 CEO just appeared in a television commercial for the Army that will air in late summer.
7-Eleven has 5,275 stores nationwide, including 4,421 franchisees. You will find more information on programs to help aspiring entrepreneurs own a franchise at www.sbtv.com. The website has streaming video segments, articles and podcasts on franchises and small business ownership available for free viewing 24/7.