DALLAS – Recognized as “military friendly” by multiple veterans’ organizations and publications, 7-Eleven Inc. is serious about growing its franchisee ranks with qualified military veterans. The world’s largest convenience retailer has increased its franchising-fee discount to 20%, capped at $50,000, as an added incentive for qualified veterans who have left the service in the last five years.
7-Eleven will continue to offer a 10% franchise fee discount to all other military veterans who meet the company’s franchisee qualifications. The company first instituted the incentive for retired and separated veterans of the U.S. Armed Forces in 2009 to help them achieve the American dream of owning one’s own business.
“More than 100,000 veterans are expected to retire this year,” said Greg Franks, 7-Eleven vice president of franchise systems, in a press release. “And we believe 7-Eleven offers an excellent opportunity for those who dream of owning their own business. Experience has shown us that veterans have the leadership traits, work ethic and organization skills to succeed in our business.”
According to the U.S. Bureau of Labor Statistics, military personnel who served on active duty anytime since September 2001 can face greater employment challenges than civilians and older veterans. At 21%, the unemployment rate of the youngest of these, ages 18-24, is almost three times the national rate. With a growing number of veterans facing a difficult job market, veteran entrepreneurship offers an opportunity to start a successful business in which retired and honorably discharged service personnel can use their skills to control their financial destiny. 7-Eleven also offers careers in a variety of fields to qualified veterans.
2014 marks 7-Eleven’s 50th year of franchising. Its first franchises were part of a 1964 acquisition (of 126 Speedee Mart stores) when 7-Eleven entered the California market. Before then, all of its stores were company-operated. By 1969, more than one-third of the 3,500-plus 7-Eleven stores were franchised. Today, 80% of 7-Eleven Inc.’s U.S. stores are franchised.