You would think that owning a 7-Eleven franchise is a straight forward thing, right? You get the cash, you apply, and you handle the logistics. However, there is a little known secret that I have become privy to when it comes to applying for one of these businesses.
A person whom I know, who has in the past owned, and may or may not have relatives who own these types of business gave me a few inside tips. Not that I plan on purchasing a franchise as I don’t have millions of dollars and I’m not interested in that type of business, but it’s nice to know this. Apparently, one of the questions that you would be asked is if whether or not you have a large family which can work for you.
Why you ask? Because knowing the amount of income these businesses generate, the costs involved, and the overall logistics, this person said that paying regular wages would eat into the bottom line and the business would fail. So the idea is that if you have some relatives who are willing to work for less, while you may provide room and board or something, you can make some dough. The idea is that you pay them less, and in turn make a profit.
I’m no expert on business or franchises, but this individual had no reason to lie to me, so I’m inclined to believe them. The logic is sound too. If you can get cheaper labor, you can make more money, and who doesn’t want to come to the U.S.A to chase the American dream? Mind you, I’m not saying I’m on board or agree with these alleged business practices, but I understand the reasoning behind it.
Hey, for all I know, my buddy could have been pulling my leg, so you take this information with a grain of salt. It might be bullshit for all I know. I just thought that as a New Yorker, it was interesting enough to share with y’all, in case you are googling information about owning a 7-Eleven? Cause aren’t we all doing that? Lol.