7-Eleven to Sell 32 Daytona Beach Stores

March 10, 2008 -- The move is part of the company?s overall plan to convert its stores to franchises.

DALLAS -- Continuing its plans to transition its company-operated stores to franchises, convenience chain 7-Eleven Inc. is selling 32 of its 34 Volusia County, Fla., area stores, the Daytona Beach News Journal reported.

The plan allows owner-operators a bigger stake in the business, but still keeps the real estate in the hands of the parent corporation, according to the report. After profits from sales are determined, excluding labor costs, the franchisee and franchisor split the earnings "around 50-50," but can vary based on factors such as the store's overall performance, 7-Eleven spokeswoman, Margaret Chabris, told the paper.

Franchise owners are more committed to a store's success than employee managers, making the stores more profitable for franchisee and franchiser alike, while becoming more involved in their communities and knowing customers better, Chabris said.

"They work harder, have family members work in the store," she said. About 72 percent of 7-Eleven stores in the U.S. are franchised. In December, 7-Eleven began offering franchises for sale at 76 stores in western Seminole County and all of Volusia and Brevard counties, according to Michael Da Re, 7-Eleven franchise sales manager for Florida.

Offers were made to store managers first, than were extended to others in January, Da Re told the paper. Potential buyers are evaluated in a four-month process and the company expects the sale of all its stores in the territory to take as long as four years, the report stated.

Area 7-Elevens for sale:

-- Daytona Beach 12
-- Daytona Beach Shores 3
-- DeLand 2
-- Deltona 2
-- Holly Hill 2
-- New Smyrna Beach 3
-- Ormond Beach 5
-- Orange City 1
-- Ponce Inlet 1
-- Port Orange 2


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