7-Eleven is one of the famous franchises that everyone, regardless of generation, knows and has visited. Who would have thought that behind this modern convenience store, which is everything you need, lies a nearly 100-year history filled with ups and downs? The business has faced significant challenges, almost going bankrupt, before it could rise again to become the iconic global brand it is today. It has experienced the lowest points but has quickly bounced back, adapting so well that it has expanded its wings to cover the globe impressively.

         What follows is the story of 7-Eleven, the giant global franchise that inspires everyone feeling discouraged to keep fighting. When it comes to failure, 7-Eleven represents a legendary brand that has endured much pain but has also recovered swiftly, showcasing its remarkable adaptability to thrive worldwide.

1. A Great Idea Sparked from a Simple Concept

         Before becoming the 7-Eleven that everyone knows today, it originated in the United States, founded in 1927, or 92 years ago. The initial idea came from John Jefferson, an employee of the Dallas Southland Ice Company, who suggested to Joe Thompson, one of the founders of 7-Eleven, to open a store selling ice along with other products like milk, eggs, and bread to meet the needs of customers buying ice.

         From this pain point sparked by one employee, a new type of convenience store emerged under the name Tote’m, which became immensely popular, leading to requests for extended hours. This resulted in changing the store hours to 7 am to 11 pm, thus giving rise to the name 7-Eleven. The franchise began expanding in America and later internationally, diversifying its product lines and transitioning to 24-hour operations, which continues to this day.

2. If You Fall, Get Up Quickly

         While the business was climbing to new heights, 7-Eleven faced a significant crisis similar to what businesses in the U.S. and Europe experienced during the Great Depression. In 1932, 7-Eleven encountered financial difficulties and had to file for bankruptcy. To survive, 7-Eleven needed to raise funds through bonds, transitioning from a family-run business to a corporate entity with a board of directors. The situation turned around in 1933 when it was allowed to sell alcohol and expanded its food product variety.

         During World War II, ice became a crucial supply for the U.S. military, making 7-Eleven a primary supplier. In 1964, the franchise business model was initiated.

3. When in Rome, Do as the Romans Do

         In the 1980s and 90s, 7-Eleven faced financial issues and was on the verge of bankruptcy, leading to a takeover in 1991 by Ito-Yokado (a Japanese retail company) and 7-Eleven Japan. Ultimately, in 2005, Ito-Yokado established Seven & I Holdings, and 7-Eleven became a subsidiary from that point onward.

         The reason a U.S. company like 7-Eleven caught the attention of a Japanese company was due to the keen vision of “Toshifumi Suzuki”, a young businessman at just 40 years old (former CEO of Seven & I Holdings Co.). Shortly after starting, he was tasked with finding new retail business opportunities and traveled across the U.S. with a few friends, discovering 7-Eleven and being impressed. He decided to contact them to purchase a franchise for Japan, opening the first branch in Toyosu, closely following the American model.

         Unfortunately, the American-style offerings did not resonate with Japanese consumers at that time, prompting Toshifumi Suzuki to return to the drawing board. After much effort, he revamped the image of 7-Eleven to reflect Japanese culture, replacing hot dogs and hamburgers with rice balls and oden, familiar foods for the Japanese. This change was well-received by customers and became a key to success in managing thousands of franchise locations worldwide, allowing adaptation to various cultures without issue.

         All of this represents the three secrets to 7-Eleven's successful business journey, despite the path being fraught with challenges and obstacles along the way.