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DALLAS - Following last week's news that BP was pulling out of the state, Colorado is now the site of a major conversion of 7-Eleven properties as the Dallas-based company gets set to sell 200 company-owned locations to franchise operators.
According to the Denver Business Journal, the shift affects metro Denver 7-Elevens, as well as stores in Louisville, Greeley, Lafayette, Longmont, Brighton, Fort Collins and Colorado Springs. Thirty-two stores in remote areas of the state will remain company-operated.
After giving 7-Eleven store managers first crack at franchise opportunities, the chain now has opened franchises to the public.
“We are offering the opportunity for people in the community to run their own business using a proven, successful system and with the support of the world's largest convenience retailer,” said Scott Wohlman, 7-Eleven's franchise sales manager for Colorado.
The convenience store chain owns or franchises 5,800 stores in this country and Canada. It licenses another 22,300 stores in other countries and U.S. territories.
The 7-Eleven system currently has 3,449 franchised stores.
The company will hold morning and afternoon franchise information seminars in metro Denver on June 22, at the Sheraton Denver Tech Center hotel in Greenwood Village. It will stage another seminar in Colorado Springs on July 20; no location has been announced yet.
The average total up-front cost for a 7-Eleven franchise in Colorado is about $118,000, including franchise fee, inventory, licenses and permits, bonds and cash register funds. That amount, though, can "vary significantly" depending on a store's location, according to the company.
Each 7-Eleven stocks roughly 2,800 items, and averages $3,000 in sales per day, according to the company.