7-11 (seven-eleven) 7-eleven

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Re: 7-11 (seven-eleven) 7-eleven

Postby tommy525 » 25 Jul 2010, 12:15

if you go around to all the 7 elevens , look how many of them employ young helpers rather then manned by people who look like they could be owners?

Fact is if you work it yourself seven days a week, after less then a year you will be toast.

Its best treated as an investment. If you can make that investment and hire people and still turn a modest profit at the end of the day, thats what its all about. Obviously some locations may work while others may not. Thats the roll of the dice.

You should do this study yourself. Physically go around to 200 7 elevens and take a quick look, who is manning the store?
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Re: 7-11 (seven-eleven) 7-eleven

Postby daddyphatsaks » 25 Jul 2010, 12:40

tommy525 wrote:if you go around to all the 7 elevens , look how many of them employ young helpers rather then manned by people who look like they could be owners?

Fact is if you work it yourself seven days a week, after less then a year you will be toast.

Its best treated as an investment. If you can make that investment and hire people and still turn a modest profit at the end of the day, thats what its all about. Obviously some locations may work while others may not. Thats the roll of the dice.

You should do this study yourself. Physically go around to 200 7 elevens and take a quick look, who is manning the store?


Yea tommy I see so many people who work so many different jobs to make money but in the end they end further ahead only in stress and frustration; burnt out after a year or two. If I'm not mistaken it will cost more for you to run the store than locals. It's an investment for me and for the community that I open it up in, give some young ones a chance to make a little extra money if they want to work; there will always be people who want money but don't want to work :loco:

Dan they "netted" 100k per month, that's after expenses. Who knows what they were paying for rent or what mistakes "they" were making in order to cut costs.

which would you prefer?
Invested 1.6million never had to get up and go to work and netted 60,000 per month
or
Invested 1.6million and had to work 6 days a week and netted 120,000?
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Re: 7-11 (seven-eleven) 7-eleven

Postby dan2006 » 25 Jul 2010, 13:19

actually im more of the 2nd guy, put in the hours myself and make more, at least at first.
Slacking for me will come later :D
I can make $100k a month by busting my ass teaching if I wished.

My goal is to open a franchised beverage place, but as with any business, from what I heard from business owners you need to keep a keen eye on it, because nobody knows or cares about your business more than you do.

You may see young kids manning the store, but be assured that the camera you see above their head is being observed by a laoban somewhere :D
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Re: 7-11 (seven-eleven) 7-eleven

Postby dan2006 » 25 Jul 2010, 13:23

hey Tommy, on a side note I used to wonder why kids do it.. the graveyard shift for less than $100 nt /hr, and the sad part is that some of these kids are university grads. Or you see they are receptionists, juice bar jockeys, etc.

Add in the laoban constantly yelling at them in many cases.

Must be the state of the economy.
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Re: 7-11 (seven-eleven) 7-eleven

Postby tommy525 » 25 Jul 2010, 13:27

dan2006 wrote:actually im more of the 2nd guy, put in the hours myself and make more, at least at first.
Slacking for me will come later :D
I can make $100k a month by busting my ass teaching if I wished.

My goal is to open a franchised beverage place, but as with any business, from what I heard from business owners you need to keep a keen eye on it, because nobody knows or cares about your business more than you do.

You may see young kids manning the store, but be assured that the camera you see above their head is being observed by a laoban somewhere :D


Yes if you plan on owning one or two or three or four seven-elevens you could and possibly should install monitors that tape activities you could review on demand.

However, if you plan to grow your business you have to manage by delegation.

You manage your managers who in turn manage the supervisors who in turn manage the staff.

Your success will then be how well you manage them and how well they manage their underlings.

Why do the kids do it? ITs a J.O.B. and can bring with it certain benefits. As in , just a few examples:

1. the experience of actually working
2. the feeling of self reliance for young people starting a job for the first time
3. the experience and camaraderie of having co-workers (to hang with)
4. getting out of the house and the contant nagging of parents

The Taiwanese word for JOB is taow loh, which means Initial Road. Its the first step on a long road of working and getting an income. Its essentially planting a seed towards success. Some seeds never become more then a seedling while some grow into giant trees.
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Re: 7-11 (seven-eleven) 7-eleven

Postby saddletramp » 25 Jul 2010, 13:45

saddletramp - thanks for the reply, I figure it would be a lot of work but I don't plan on working in the store; it's more of an investment for myself. Hire locals to work the store; I'm not looking to bleed the area just prefer something physical to invest in. I'll also search again but as you can see from my title, i searched for 7-11 many different ways and couldn't really find anything.


Try searching for investor's ARC, the thread wasn't about 7-11's.
I would think long and hard on such an investment, as Head Honcho mentioned, it is a pretty saturated market. The markup is very low, 3-4%, from what I learned from looking into it. Hard to pay people at that kind of margin.

If your ok with that low of a margin, perhaps you could find a franchise with a much lower fee.
I know a guy that bought a Breakfast store franchise for under 100,000 NT, and it takes less space and fewer equipment to start out with. Of course, location is everything with that type of store. He put it right across from a busy school with no other breakfast stores nearby and he is doing quite well.

My wife and I spent about the same money that you are talking about, 1.5 M NT, to start our business, but our margin is 40-50% and sometimes higher.
We employ 1 full time Shi Fu, and we sub out to tradesman and day laborers as needed.

If your just looking for an investment, without making it a career,and you are sold on the 7-11 brand, I think I would take the 1.5 million and invest it in Uni-President stock.

Good luck with whatever you decide.

Edit: found Llary's investor thread.
http://forumosa.com/taiwan/viewtopic.php?f=88&t=43055&start=0&hilit=investors+arc
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Re: 7-11 (seven-eleven) 7-eleven

Postby saddletramp » 25 Jul 2010, 14:01

You manage your managers who in turn manage the supervisors who in turn manage the staff.


Tommy, you manage inventory. People need to be lead, not managed. :bow:
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Re: 7-11 (seven-eleven) 7-eleven

Postby tommy525 » 25 Jul 2010, 16:03

7/11 kids? Managed !
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Re: 7-11 (seven-eleven) 7-eleven

Postby daddyphatsaks » 25 Jul 2010, 16:50

saddletramp what type of business are you doing, if you don't mind sharing? I found the thread, it's very informative, I need to keep on referencing back to it as I need it.

I agree with what tommy is saying. I don't really want to be managing anyone but the store managers they need to be able to effectively manage the workers and a lot better than I can seeing as they are Taiwanese. I have no problem looking into other franchises but I'd want something that can employ at least a few people, pay them a decent wage; like tommy said, for them it's a start.
*one thing that I find most disturbing in Taiwan, and in Asia are 30+ people still living off the parent's tits*
but it's not a charity I also want a return, even 3-4% isn't bad for me.
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Re: 7-11 (seven-eleven) 7-eleven

Postby asiababy » 25 Jul 2010, 17:06

I have a friend with two 7-11 stores in Taipei County. If you can speak Chinese, I can put you in touch. I remember his biggest gripe was, you can't leave the staff to manage the store as there is a really high level of theft by staff in the convenience store business. You can lose a lot of profit if you don't stay on top of it.
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