7-Eleven Singapore Lets Young Grads Run Their Own Store
7-Eleven is a nostalgic place for students to buy Slurpees, Mr Softee, and instant noodles while lepaking with our mates.
While it might merely be a convenience store to many, some of us may have liked the idea of becoming the boss of our own Kim’s Convenience.
Under 7-Eleven’s franchise programme that’s open to young grads & mid-career switchers, this could well be our best chance to fulfil that teenage dream.
Franchisees will undergo a 6-month training to learn the ins and outs of running their own store while receiving an allowance.
We speak to 2 young bosses and find out why they chose the 7-Eleven life.
28-year-old takes over 7-Eleven store after Covid-19 strikes
When in our 20s, we usually expect to apply for jobs after graduating, become employees, and earn a monthly paycheck. But adventurous, entrepreneurial spirits will see merit in taking the road less travelled, i.e. being the towkay of a convenience store.
When the Covid-19 pandemic struck, 28-year-old Yao De, who was in the limousine business, found himself in a predicament.
As air travel came to a halt, Yao De’s business, which involved ferrying passengers to and fro the airport, was “killed overnight”.
While he had always wanted to be part of a franchise programme, the high startup costs and franchise fees were a stumbling block.
But with 7-Eleven’s Franchisepreneur Management Trainee Programme (FMTP), Yao De ‘locked in’ a $20,000 security deposit to kick off his franchise journey—a relatively low capital investment to open a franchise, according to his research.
In return, the 28-year-old got the keys to a fully renovated and stocked store.
Overcoming hiccups along the way
But success isn’t always smooth sailing, and that’s no exception in Yao De’s case.
Besides adjusting to a new workflow and schedule, Yao De also recalled an incident where he ended up with 70 extra portions of spaghetti bolognese.
This soon turned into a problem due to the product’s short shelf-life duration. He said their ready-to-eat meals only had a shelf life of 2-3 days.
“So I was quite dumbfounded when my staff reported a whopping 73 servings of spaghetti bolognese was being delivered,” he shared.
Thankfully, his area manager came to the rescue by getting other stores in the vicinity to share the excess stock.
Despite the hiccups, Yao De found his franchise journey rewarding. He’s expected to take over his second store later this year.
Logistic executive placed on no-pay leave explores franchise opportunity
Like Yao De, 26-year-old Jaymes, a former logistics executive, was also severely impacted by the Covid-19 pandemic and placed on indefinite unpaid leave.
But the period of furlough proved to be “a blessing in disguise”.
“I have always dreamt of being my own boss but have never dared to leave the safety net of a stable monthly income,” said Jaymes.
What attracted Jaymes to 7-Eleven was the sustainable nature of the business and the constant demand for daily essentials.
Managing a team of senior staff
Expectedly, transitioning from a 9-5 deskbound job to one in the retail sector takes some getting used to, especially regarding the job’s shift system and physical aspects.
However, what was perhaps most challenging in Jaymes’ case was manpower management and earning the respect of his team members who were sometimes older in age.
Over time, Jaymes found it crucial to work hard and lead by example, so he’s not just a “leader in name”.
He also highlighted the importance of caring for his staff and giving them a sense of belonging in the team.
For Jaymes, what stood out about FMTP is the affordable starting capital and the supportive community of franchisees.
Similar to Yao De, Jaymes has already taken over his 2nd store.
Things to know before aspiring to run a 7-Eleven store
If you are inspired by Yao De and Jaymes’ stories and want to manage your own 7-Eleven store, you can consider hopping on board 7-Eleven’s Franchisepreneur Management Trainee Programme (FMTP).
Here are some details you should take note of:
- Footing a $20,000 security deposit (refundable upon exit)
- 6-month training, allowance and meal provided
- Able to work shifts on weekends and public holidays (6-day work week)
- For Singaporeans or Permanent Residents aged above 21
- For fresh tertiary graduates or working professionals with less than 6 years’ working experience
By signing up, franchisees can enjoy a waiver of franchise fees, which amount to at least $30,000.
Applicants also have a direct share of their store’s profits and losses and can pick up leadership skills by managing the team during their training.
If you are interested in 7-Eleven franchise programme, please fill up the form here.
For more information you may check out 7-Eleven’s website.
Break out of ‘regular’ jobs & become your own boss
Convenience stores accompany us through every stage of our lives.
The prospect of running one in our 20s can be daunting. But the unwavering demand for essentials, coupled with a convenience store brand that’s well-established in the market, make this opportunity less YOLO than it sounds.
After all, there are perks of being your own boss.
And we’re positive that this career choice would offer a greater sense of achievement to those who dare to dream differently.
This post was brought to you in collaboration with 7-Eleven.
Featured image by MS News.
