7-eleven Leads Magazine's Franchise Rankings

Retailer recognized for support of merchants

(Wednesday, December 12, 2007) - Dallas-based 7-Eleven Inc. has been named Entrepreneur magazine's top franchise for 2008.

The convenience store chain displaces Subway, which held the top spot for 15 years, in the magazine's annual rankings being released today.

"It's great recognition to be No. 1," said chief executive Joe DePinto. "And the outside recognition is important to our franchisors."

The local chain ranked No. 4 last year but took the top spot for 2008 in part because it "seemed to be increasing its commitment to franchising," said Maria Anton, the magazine's executive editor.

7-Eleven decided two years ago to convert its company-owned stores to franchises. In the United States, the company is 72 percent franchisee-owned and there are plans to open 1,000 more franchises in the next two years.

Rising to the top of Entrepreneur's list gives potential franchisees an additional level of comfort with the company, said Jeff Schenck, senior vice president of franchising and development at 7-Eleven.

"People interested in franchises will pick up this issue to take a look at the rankings," he said.

Founded 80 years ago by a Dallas dock operator, 7-Eleven today has 33,300 stores in 17 countries, with total revenue of $44 billion in 2006. Entrepreneur compiles its rankings using a database of franchise companies all over the country and evaluates each based on how long it's been in business and how long it's been franchising. The magazine also hires a certified public accountant to evaluate each company's financial stability, Ms. Anton said.

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