International business consists of business transaction between parties from more than one country. Examples of international business transactions include buying materials in one country and shipping them to another for processing or assembly, shipping finished products from one country to another for retail sale, building a plant in a foreign country to capitalize on lower labor costs or borrowing money from a bank in one country to finance operations in another.
Franchising of 7-Eleven store in Vietnam is the choice of doing the international business for this assignment. 7-Eleven is a worldwide chain of convenience stores. It is since March 2007, the largest chain store in any category,…show more content… In 1946, Tote’m became 7-Eleven to reflect the stores’ new, extended hours – 7 a.m. until 11 p.m., seven days a week. The company’s corporate name was changed from The Southland Corporation to 7-Eleven, Inc in 1999. And July 11 is the official birthday of the chain.
In my opinion, the suitable country to locate the new 7-Eleven is Vietnam because 7-Eleven is the convenient store which there is everything selling. Just go inside and you will get everything you want.
Vietnam is officially the Socialist Republic of Vietnam, is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea to the east. With population of over 85 million. Vietnam is the 13th most populous country in the world.
Vietnam is the developing country; they are willing to accept the new things such as technology, products, people, etc. from outsiders. Now there are many foreign investors invest in Vietnam, because the factors in Vietnam are reasonable.
So 7-Eleven store in Vietnam will be the good idea. That will be convenient for their people and because of it is open 24 hours daily, so anytime, people can go and buy no need to rush or hurry to go to 7-Eleven stores.
AsiaRecipe.com (2008). Education in Vietnam. [online]. Access from: