👉 Background: The 7-Eleven chain was actually founded in Dallas, Texas back in 1927.  It made its way to Australia in 1977 when two Australian families gained the licence to the 7-Eleven business. Fast forward to today, 7-Eleven has over 750 stores across Australia and generates over $300 a million a year.

👉 What happened: After owning the chain for nearly 50 years, the two families are now putting 7-Eleven Australia up for sale. Experts reckon the business may be worth $3 billion for the right buyer.

👉 What else: It kinda makes sense for the owners to sell... because we’re seeing a decline in tobacco sales and the rise of electric vehicles, two of their largest money spinners.

What's the key learning?

💡As the world transitions to electric vehicles, traditional service stations need to adapt or risk becoming obsolete.

💡Electric vehicles became more than 8% of total Australian car sales in April this year…and it keeps growing each month. While petrol stations may not feel the lack-of-petrol-demand right now, they know that it’s coming.

💡Petrol stations and convenience stores will need to adjust their business models to remain relevant. It might mean transforming existing stations into electric vehicle charging points... or even potentially shifting focus to other retail offerings, like ready-made meal options.

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