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Thread: 7/11 seem to be in trouble

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    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน justcruzing1's Avatar
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    7/11 seem to be in trouble

    Just watching an ABC 4 corners program.

    Boy they seem to be in big legal problems with underpaying staff, $10 per hour all time day and night and weekend.

    There is the same inquiries overseas.

    I can't believe the franchise's pay 57% of Gross profit to the head office.
    They have to pay wages out of their 43% so are using imigrants on visas and without working visia's then if they go to fair workplace they get threatened with deportation because the franchise can show they worked over 20 hrs a week, so are in violation.

    I wonder if the same applies to all the 7/11's in LOS?
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    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน Zablive's Avatar
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    They pay a bit over the minimum wage here - no OT loadings - day rates.

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    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน meese's Avatar
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    Quote Originally Posted by justcruzing1 View Post
    Just watching an ABC 4 corners program.

    Boy they seem to be in big legal problems with underpaying staff, $10 per hour all time day and night and weekend.

    There is the same inquiries overseas.

    I can't believe the franchise's pay 57% of Gross profit to the head office.
    They have to pay wages out of their 43% so are using imigrants on visas and without working visia's then if they go to fair workplace they get threatened with deportation because the franchise can show they worked over 20 hrs a week, so are in violation.

    I wonder if the same applies to all the 7/11's in LOS?
    got to wonder why anyone would give away so much profit...might have something to do with who owns the stock

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    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน justcruzing1's Avatar
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    Quote Originally Posted by meese View Post
    got to wonder why anyone would give away so much profit...might have something to do with who owns the stock
    Apparently HO pays the rent, then also handles the pay but the wages come out of the franchisee's share.

    It is an amazing model if they are getting away with it, just look at how many there are around the world...a license to print money?? or more a slave trade??
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    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน Zablive's Avatar
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    Quote Originally Posted by justcruzing1 View Post
    Apparently HO pays the rent, then also handles the pay but the wages come out of the franchisee's share.

    It is an amazing model if they are getting away with it, just look at how many there are around the world...a license to print money?? or more a slave trade??
    2+2=7

    I think you need to identify what is gross and nett for tax here JC.

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    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน justcruzing1's Avatar
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    Zab I have no idea of it, I'm not a franchisee but they said on the show it is 57% of gross profit before tax.

    However as i said the HO pays the rent out of their share. The Franchisee's pay the staff wages from their share.
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    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน Zablive's Avatar
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    Quote Originally Posted by justcruzing1 View Post
    Zab I have no idea of it, I'm not a franchisee but they said on the show it is 57% of gross profit before tax.

    However as i said the HO pays the rent out of their share. The Franchisee's pay the staff wages from their share.
    Sure - but does the 57% include the cost of stock - logic would say so.?

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    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน Bacon's Avatar
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    Quote Originally Posted by justcruzing1 View Post
    I can't believe the franchise's pay 57% of Gross profit to the head office.
    That's nuts! They must have a bit of turnover to justify buying one. I think it takes about as much capital to start a Subway. I'd much rather one of them than a 7/11.
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    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน Bacon's Avatar
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    Quote Originally Posted by Zablive View Post
    Sure - but does the 57% include the cost of stock - logic would say so.?
    7/11 Stock wouldn't cost much, I'd imagine. I estimate each store to have anywhere between 5 to 10K US in developed countries. The fridges are mostly filled with cheap crap that yield 35%+ gp(at least!), the magazine rack would set you back no more than a few hundred bucks, alcohol and tobacco(where allowed) would probably be your biggest holdings, as well as the best netting, and the rest is just junk.

    Edit: I put them on the same level as news agencies in Australia. Except news agencies all feed off lotto money. In Thailand in particular I imagine would be bottled water, beer and Marlboros. 555
    Last edited by Bacon; 31st August 2015 at 23:49.
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    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน Moo Uaon's Avatar
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    Quote Originally Posted by Zablive View Post
    2+2=7

    I think you need to identify what is gross and nett for tax here JC.
    i thought the same then did a search and found that the ABC story said that 7/ll franchisees paid wages from their 43% share of profit.

    i'd call it turnover,from my experience,and profit calculated after all costs are accounted for and deducted from takings?

    7-Eleven scandal: Company announces review of pay practices
    Last edited by Moo Uaon; 31st August 2015 at 23:49.
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    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน MarcTwoSix's Avatar
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    Quote Originally Posted by Bacon View Post
    That's nuts! They must have a bit of turnover to justify buying one. I think it takes about as much capital to start a Subway. I'd much rather one of them than a 7/11.
    Actually I was going to say.........it is the same as Subway
    Both are like buying a job

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    Uber Star Soi wanderer Thai Dreamer ผู้เพ้อฝัน Moo Uaon's Avatar
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    ^ this type of franchise is common back in Oz too...........yeah,hock your house,borrow some money,set up and hope it makes enough to break even + pay your own bills. yet many seem to be down on this type of business/way of making a living?
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