The coronavirus disease (COVID-19) has pushed many ventures to temporarily cease operations as they try to follow minimal health standards to help curb the spread of the virus. But despite the halt in many industries, convenience store franchise units seem to be thriving amid the pandemic. In fact, even before the lockdown, a data firm has forecasted that the US c-store industry will grow faster than all other offline channels.
And with shoppers trying to steer clear of crowded grocery stores to avoid exposure, c-stores are raking in sales. And to prove just that, a report says store sales have increased as much as five percent, depending on location.
If you’re thinking about getting a convenience store franchise, here are five options you might want to consider.
1. 7-Eleven
Year founded: 1927
Franchise units: 9,000 stores in the US, 69,000 stores worldwide
Initial investment: $53,600 to $1,163,000
7-Eleven is surely one of the most popular convenience store franchise options, not just in the US but also in the worldwide arena. It has come a long way since “Uncle Johnny” Jefferson Green first opened an everyday staples store from a local icehouse in Dallas in 1927. And though it adopted the name 7-Eleven in 1946 to reflect their operation hours – 7 am to 11 pm, it’s now known to be a go-to store for anything you need 24/7.
If you want to franchise a unit, you’ll need to pass their qualifications, including a background check. You’ll then have to apply and attend meetings with an account executive. After choosing a community to serve, accepting an offer, and undergoing the training, you can set up your shop.
2. Circle K
Year founded: 1951
Franchise units: 16,000 worldwide
Initial investment: $614,250 to $1,927,640
If you’re looking for a well-established convenience store franchise, Circle K is also a good option. The business was founded in 1951, when Fred Hervey bought three Kay’s Food Stores in El Paso, Texas. Today, Circle K’s over 16,000 stores operating in 48 states and 25 countries.
The company has a few basic qualifiers for opening a franchise, including a net worth of $500,000 and liquid assets of $100,000. Besides the requirements, it’s also helpful to ponder the type of investment you’d want to make. They offer options for converting your existing shop, building a new store, or buying an existing one.
3. AMPM
Year founded: 1978
Franchise units: 1,005
Initial investment: $343,861 to $1,002,242
AMPM has been enjoying its fame as a popular convenience store and gas station chain that initially set up shop in Southern California. Today, their locations in California, Nevada, Arizona, Oregon, and Washington have become a choice stop for those who want quick treats while getting their tanks filled.
The company offers franchise programs for those planning to go with their brand. Not only can you opt for new construction or a new construction rebrand, but you can also choose to raze and rebuild, retrofit, or go for a retrofit rebrand. Added to that, they also provide loan options for qualified franchisees.
4. Street Corner
Year founded: 1988
Franchise units: 45
Initial investment: minimum of $122,300
Street Corner offers a non-traditional store that breaks away from the mainstream version. That said, the franchise allows access to high-quality vendors, design plans, and hands-on training. And all these are geared towards building a business that meets the market’s urban lifestyle needs.
There are options to choose from, depending on your risk appetite and investment capabilities. These include the usual fuel station store or a mall store. In addition to that, you can also opt for an Urban Superette, which is a cross between a large-scale grocery and a tiny convenience store.
5. Dash In
Year founded: 1979
Franchise units: 58
Initial investment: minimum of $138,600
Dash In is a family-owned business that offers an authentic hometown feel common in its locations in Maryland, Delaware, and Virginia. That said, they take local and personal community connections at the heart of their business as they provide an array of fresh and healthy food choices. Besides food, they also offer high-quality gasoline as well as an eco-friendly car wash called Splash In.
The brand takes pride not only in hiring locally but also in constantly creating new job opportunities in their locations. So, if you’re looking to partner with a venture that supports community and national charities, Dash In is a good choice.
Without a doubt, a c-store franchise offers great potential, and possibly a pandemic-proof one at that. In the end, whatever c-store franchise you decide to invest in, it all boils down to finding the right brand that fits your values, market, and financial goals.
Be Sure to check out Franchise HOW’s “The 10 Questions You MUST Ask Before You Buy a Franchise” before moving forward!
