Latest Report on Sandwich Giants Subway and 7-Eleven Rivals in the US & Europe....
The sandwich firm Subway has been tipped off its Number One position by convenience store 7-Eleven Inc, in North America in Entrepreneur magazine's annual Franchise 500 rankings 2008.
This marks an excellent achievement for the food franchisor- 7-Eleven Inc. Subway has been in first place 14 times out of the 18 times the award has been distributed. It had also held the number one designation since 2001.
Among the factors examined in the Franchise 500, considered the most detailed and valued franchise ranking system in the world, are financial strength, growth rate, company stability, startup costs, percentage of terminations and the size of training and marketing systems.
7-Eleven Inc was first established in 1927 and franchised its business in 1964. Today the store taking its name from its trading hours (7am-11pm) has grown from a Dallas-based ice company to an international convenience store chain. Approximately 6 million customers visit 7-Eleven stores in the U.S., and Canada each day. In 2007, 7-Eleven Inc had 5,580 U.S., franchises in operation with a further 25,062 international franchises in operation.
The 7-Eleven Franchise System is like no other in the country and its collection of awards are a force to be reckoned with:
- First Place Ranking in Entrepreneur Magazine's Top 500 Franchisees® for 2007;
- The first place ranking in Convenience Store News’;
- Top 100 Franchise Chains for 2005 (also taking top honors for 2003 and 2004);
- Selection as Chain of the Year for 2005 by Convenience Store Decisions magazine;
- 14 years on Hispanic Magazine’s Top 100 Companies providing the most opportunities to Hispanics;
- Inclusion among the Top 25 Franchises for Hispanics in 2005 by Hispanic Trends Magazine;
- A ninth place ranking in Entrepreneur Magazine’s Top 500 Franchises® for 2006.
Products and services
In addition to Slurpee and the Big Gulp, 7-Eleven now own several brands and concepts, including Reddy Ice (the evolution of the original company ice operation); Movie Quik, an in-store video-rental service; Citgo, the gas brand sold at many locations up until 2006. 7-Eleven have embraced new sources of branding their store identity to meet customer’s demands for new and interesting services and products.