How to Start a Circle K Franchise
Having one of the best convenience store franchises is most likely to be best business venture compared to other companies in the US. Choosing a Circle K franchise can be financially rewarding specially for business-minded people.
Circle K started operations in 1951 in Texas when a think-tank, Fred Hervey, acquired the first three stores then later turning into an international success by engaging in a memorandum of agreement with a Japanese company.
Its popularity among American consumers played a vital role in Circle K’s success. To date, the company now has over 10,000 franchises in the Southern and Western United States. The company also has operations in six other countries, making Circle K as one of the lucrative business ventures.
With an all-time high in franchise growth, it is relatively easy to acquire one franchise of Circle K. Those who possessed extraordinary skills in business are urged by the company to handling more than 3 franchises. It can either be on-hand or home based business management, as long as the applicant can handle the load.
Territorial exclusivity is also available to businessman who wanted to monopolize transaction in his/her area. Around $161,000 to $1.4 million are needed to establish a single franchise. This does not cover the franchising fee of $15,000. Upon signing a deal with the company, a franchisee is required to handle the business for 10-years. So, it is necessary for individuals to be commitment-oriented. However, the company does not allow absentee ownership.
Circle K management said that this franchise is relatively cheaper than other franchises in the market today. The company also said that their royalty fee, costing about 4 percent of the annual profit, is also much cheaper than its competitors.
Other qualification requirements covered before contract signing is the regular financial check, which includes assets liquidation and background check for first time owners. Financial assistance from banks is also allowed by the company.
Records showed that more than 15 percent of the company’s franchisees own more than one unit. This is mainly because of the efficient production and service of Circle K. In one franchise store, 10-15 staff/employees are needed to run the whole operation.
Multiple training programs will be available for the new franchise owners and his/her staff. This training is a top-class in the food industry. Customer satisfaction is always first in Circle K. These training programs are available in the company headquarters which will cover around two weeks. Another 2 weeks will be dedicated to training inside the actual store to familiarize the staff.
Advertising will also be available for each franchise holder. These are either by newsletters, toll-free hotlines, grand opening, and internet access. Another marketing strategy being employed by the company is the Co-op advertising to lower cost in each advertisement the company produce.
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