Archive for Author 'John Santiago', only excerpts shown, click title for full entry.
Over the last several months, we have heard a lot of talk regarding changes within the cigarette category in our 7-Eleven stores. These changes have impacted our sales and made us realize that we need to be more competitive with tobacco. When we were confronted with the Marlboro leadership program recently, 7-Eleven actually stood […]
Believe it or not, your store agreement contains 9 exhibits, no less than 10 amendments (ranging from the ATM amendment, money order amendment and credit card amendment) and a multitude of other attachments, including authorizations and acknowledgments by you, plus general information, incorporated into the basic agreement. In total, the 2010 agreement, with all […]
We all have to maintain a minimum net worth in our stores on a monthly basis. For some stores the minimum is $10,000 under the grandfather clause of the contract, while other stores have a minimum of $15,000 as per the Store Franchise Agreement. Many factors come into play when trying to keep our […]
Dave Niehaus, the iconic play-by-play announcer of the Seattle Mariners, would exclaim, “My, Oh My!” when he could hardly contain his excitement after a remarkable play. Potential franchisees have been attracted to the 7-Eleven system because of its many attributes: the iconic brand displayed on the corner sign and the resulting industry-leading average store […]
For any partnership or relationship to flourish, it’s important that all parties feel they are treated fairly and given every opportunity to live up to their potential. Reasonable expectations must exist. If not, bad feelings will fester, and in the case of a business relationship, sales will suffer. 7-Eleven franchisees understand that the convenience […]
National Coalition of Associations of 7-Eleven Franchisees Urges Owners, Employees and Consumers to Leverage Website for Swipe Fee Reform TUCSON, Ariz., May 23, 2011 /PRNewswire/ — The National Coalition of Associations of 7-Eleven Franchisees came out today urging the owners of its 4,900 franchise-owned stores, their nearly 40,000 employees, and their customers to contact their […]
Looking back at the cigarette category, one begins to realize how drastically it has changed over the last 10 years. Besides an eroding unit count and diminishing profit margins, we have lost all control over a category that system-wide represents 23 percent of our sales and a good percentage of our stores’ gross profit […]
We have recently been notified that 7-Eleven is undergoing a dramatic reorganization—dubbed Project E by the higher-ups at corporate—in order to streamline operations and make the system more efficient. As part of this project, everything will eventually be run out of one central location—the corporate headquarters in Dallas. In a way, it makes a […]
Rarely does a week go by that I do not hear from a franchisee, “Can they do that? I’m an independent contractor!” Typically the answer is a resounding yes, they can, despite the legal definition of an “independent contractor” and the language in paragraph 2 of your store agreement, which states, in part: “You […]
Gross profit dollars and total gross profit percent (GP%) of merchandise sales play a very significant role from the moment we first franchise a store. The franchise fee, for one, is based on total GP dollars, using different percentages for different brackets of gross profit dollars. The day-to-day operation of the store and product […]
