3 fired up convenience store franchises
In today’s fast-paced ecommerce driven world, speed is everything. It’s one of the reason convenience store franchises have circumnavigated the often-challenging retail landscape.
Unlike other countries that operate on a seemingly 24-hour basis, Australian retail has a firm approach to trading hours, but not when it comes to convenience offerings. Convenience store franchises have the option to trade early in the morning until late at night, capturing a key market segment.
When all other stores are closed for the night, convenience offerings provide the perfect solution. Close, affordable and wide-ranging, convenience store franchises are among the sector’s longest serving and most successful models.
Here’s three of the biggest on offer in Australia.
Global giant 7-Eleven is one of the most recognisable convenience store franchises worldwide. Here in Australia, the brand has grown from one store in 1977 to over 650 across Queensland, New South Wales Victoria, the ACT and Western Australia.
The driving factor behind the chain’s success Down Under is its franchisees. While corporate stores are an important element of the business model, the majority of outlets found across the country are operated by local community members and families.
All 7-Eleven franchises operate under a turnkey basis, meaning that once a franchisee signs on and pays the investment, 7-Eleven takes care of the building, leasing and fit-out of the store, with all training and support provided.
However, the investment can be large. A 7-Eleven franchise can set you back between $400,000 and $1,000,000, so it’s pivotal that you do your due diligence prior to assessing the opportunity.
Launching in 1975, NightOwl is Australia’s first 24 hour trading convenience business. With nearly 80 stores throughout Queensland, New South Wales and Western Australia, the brand has become of the largest and most well-represented convenience store franchises nationally.
Over the past 40 years, NightOwl has carved out a reputation as a supportive franchisor, providing all partners with ongoing support, a growing equity investment and a state of the art IT platform.
One of the biggest boosts for aspiring entrepreneurs is the no-experience necessary model. A background in retail is not important in the everyday running of the business, as NightOwl head office provides a full suite of training from day one.
The opportunities shares a similar price tag to 7-Eleven with capital investment ranging from $300,000 to $950,000 depending on location.
Have you heard of EzyMart? Founded on Bondi Beach in 2001 by entrepreneur Maher Magableh, the single store has grown to a network of more than 200 locations across New South Wales, Queensland, Victoria and South Australia.
The business model is built on sustainable growth, ensuring that franchisees are placed in the right locations for continued success. It’s all part of a wider initiative to back EzyMart franchisees with a well-rounded and competitive offering.
Like 7-Eleven and NightOwl, all EzyMart franchised outlets operate on a turnkey basis. Franchisees receive brand-specific point of sale merchandise, preferred supplier agreements to deliver higher profit margins, technology and training.
An EzyMart franchise is backed by the brand’s engaged team of marketing professionals, hired to help all partners get off in the right foot.
Convenience store franchises
If you’ve ever dreamt of buying your own business, you’ve likely come across the convenience retail industry. Brands such as 7-Eleven are industry staples, but the global giant isn’t the only chain on offer.
Take a look at the whole sector and measure the pros and cons of each model.
Are you ready to take the leap into business ownership?