7 Eleven Target Market

7 Eleven Target Market This investigation of the small business, 7-Eleven chain store, was conducted over two month period from July, with many sources of information, such as the actual stores and the information from internet. The 7-Eleven chain store was established as an ice house in Dallas, Texas in 1927, and it is one of the world’s largest operator, franchisor and licensor of convenience stores. This article seeks to explore a comprehensive description and understanding about 7-Eleven and try to find out the secret of success, as well as giving some suggestions. The 7-eleven chain store was started out in 1927 and was introduced to Australia in 1977. An ice dock employee in the Southland Ice Company began to offer milk, bread and eggs on Sundays and evenings when grocery stores were closed. This new business idea produced satisfied customers and then the chain store was established. In November 2005, 7-Eleven, Inc. became an indirect subsidiary of Seven & I Holdings Company, a Japan-based or ganization. Their prime function is to consistently serve the changing needs of customers for their convenience. The store can always adapt quickly to meet the customer’s changing needs. It is the most obvious feature that makes it different from other convenience stores. With the newest products and services applying in the store, and the newest ways of business operation, the store can be operated more efficiently than others. For short, the perpetual improvement made the store keeping ahead in so many brands of chain stores. As a convenience store, 7-Eleven mainly faces three types of competitors. The first on is supermarkets, such as Wal-Mart. Second, small shops (probably not has a brand). Third, other brands of convenience stores, such as Lawson (founded in 1975 in Japan). The targeted customer is young single working people, usually un-married, as a result, the location of 7-Eleven always near office buildings, shopping malls, parking lots, subway station, et al. Besid es the traveler is also its main customer. In Australia, â€Å"stores in suburban areas often operate as petrol stations† (wikipedia.org, 2010). 7-eleven, Inc. is the word’s largest convenience retail chain. The company operates franchises and licenses more than 7,100 stores in the U.S. and 7-Eleven licensees and affiliates operate approximately 31,400 7-Eleven and other convenience stores in countries including Japan, Taiwan, Thailand, South Korea, China, Australia, et al (7-eleven.com, 2010). The main distribution of 7-eleven around the word can be seem in the table bellow fig.1 Fig.1 the main distribution of 7-Eleven around the word Territory First Store Opened Number of Locations United States 1968 584 Canada + 1969 457 Mexico 1971 1,180 Japan 1971 12,753 Australia 1977 397 Sweden 1978 191 Taiwan 1980 4,735 China (Hong Kong, Shenzhen, Guangzhou & Macau) 1981, 1992, 1996, and 2005, respectively 1,680 Singapore 1983 493 Philippines 1984 469 Malaysia 1984 1,115 Norway 1986 177 South Korea 1989 2,282 Thailand 1989 5,409 Denmark 1993 126 Beijing, PRC 2004 93 Shanghai, PRC 2009 20 Indonesia 2009 5 Rsource: http://corp.7-eleven.com/AboutUs/InternationalLicensing/tabid/115/Default.aspx (4) Suppliers It can be seen from the table bellow that the most commodity of 7-Eleven is food, in which the processed food account most. As a result, the main supplier of 7-Eleven is food maker, especially who produce the processed food. The non-food products suppliers is various, such the provider of a variety of prepaid card.

Business plan Essay Example | Topics and Well Written Essays - 250 words - 2

Business plan - Essay Example Efficient planning of business activities helps in the determination of the most efficient way of allocating resources such as inventory, assets and budgets. The information contained in a business plan helps in maintaining focus. Such information includes product information, financial estimates and the plans for the future (Chwolka and Raith, 2012). Any updates in a business plan assist an entrepreneur to understand how changes affect the entire business. A business plan enables an entrepreneur to secure financing. Banks, private investors or majority of the lending institutions depend on the business plan to understand the plans that an entrepreneur possesses in running the business, business expenses and revenues as well as future plans for growth. Chwolka and Raith (2012) assert that preparing a business plan fuels ambition for inexperienced entrepreneurs because the business is presented in an organized fashion. Adhering to the business plan enables an entrepreneur to acquire c onfidence and motivation on the future success. Additionally, business plan enhances the effectiveness of the business through enlightening the executives on the areas that requires focus for future as well as the present business progress. The two most salient aspects of an effective business plan are the marketing plan and financial information (Chwolka and Raith, 2012). The marketing plan enables the business to enhance competitiveness in the market through identifying the competitors and determining how the business products differ from similar products in the market. Financial information will help to attract investors in the business. From this discussion, it is clear that a plan is a compulsory tool for a successful business. Therefore, what are the necessary steps involved in the formulation of an affective business