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How a Young Entrepreneur Built Seven Convenience Stores Before 30 on $20,000 in Savings

MarketDash Editorial Team
6 days ago
Jaymes Lee Kim Meng opened seven 7-Eleven locations before turning 30, starting with just $20,000. His strategy: live frugally, work relentlessly, and eventually hire enough staff to shift from working in the business to working on it. But there's a catch—convenience stores never close.

Opening a business before you turn 30 is impressive. Opening seven of them? That takes a different level of commitment altogether. Jaymes Lee Kim Meng did exactly that, launching seven 7-Eleven convenience stores with just $20,000 in initial savings. Speaking with Singapore news network CNA Insider, Meng shared his journey and what it really takes to build a multi-location franchise operation while most people your age are still figuring out their career path.

But he didn't sugarcoat the reality. "It's a 24/7 business," Meng explained. "We do not close." That's not a marketing tagline—it's the actual operational challenge of running convenience stores that literally never shut their doors.

The Financial Security Play

Meng's goal wasn't just to be an entrepreneur for the sake of it. He wanted financial security and multiple income streams instead of relying on a single paycheck. 7-Eleven's youth entrepreneur program made that possible by cutting the typical franchise fee nearly in half. Where most franchisees pay $40,000 upfront plus another $30,000 over five years, Meng only needed $20,000 to launch his first location.

"I wanted to start something on my own and have job security," he told CNA Insider.

He snagged another favorable deal for his second store, but by the third location, the discount was over—he paid full price. Still, he managed to open three stores in his first year alone, eventually expanding to seven locations total. The 7-Eleven brand recognition and established systems gave him a framework to scale quickly without building everything from scratch.

Extreme Frugality Fueled Rapid Growth

Here's where Meng's story gets interesting. Once he opened that third store at full price, the costs started piling up. Each location carries ongoing expenses, and the math only works if you're disciplined about where your money goes. Meng responded by living on basically nothing.

"I did not go on holidays," he said. "I did not hold grand birthday parties. I did not buy expensive gifts for my partner. I wasn't married then. I really just survived bare minimally. It was just three meals a day, going home, and public transport."

No car. Just buses. No vacations. No celebrations. It's the kind of lifestyle that doesn't make for glamorous Instagram posts, but it freed up capital to reinvest into additional locations. Those short-term sacrifices created long-term assets—multiple commercial properties generating consistent cash flow, plus the operational knowledge to add more stores whenever he wants.

Shifting from In the Business to On the Business

In the early days, Meng worked inside his stores. If an employee called in sick, he had to cover the shift himself because 7-Eleven locations don't close. Ever. But as he expanded to more locations, he hired enough staff to step back from the counter and focus on higher-level management.

This is the classic "working on the business versus in the business" framework from Michael Gerber's book "The E-Myth." Working in the business means handling day-to-day tasks—ringing up customers, placing orders, stocking shelves. Working on the business means strategic thinking—managing people, dealing with headquarters, planning expansion.

"Previously, when it was one store, two stores, I would see myself as managing the store itself," Meng said. "I was in the store. I was doing orders myself. I was manning the counter myself. Now I do more of a backend role where I manage the business, people, and HQ."

That transition is crucial for scaling any business. You can't open your seventh location if you're still working the register at your first one.

The Commitment Factor

Meng wrapped up with some straightforward advice for anyone looking to replicate his success. It's not about having a perfect plan or waiting for ideal conditions. It's about commitment.

"The commitment really has to be there," he told CNA Insider. "It's about a mindset thing, where you have to see it as your own business, and when you're committed enough, you're determined enough, you can do anything."

That mindset matters especially in a business model where the doors never close and you're on call whenever something goes wrong. But if you can survive the frugal years and build systems that eventually run without you, you end up with multiple income-generating assets before you're 30. Not a bad trade.

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How a Young Entrepreneur Built Seven Convenience Stores Before 30 on $20,000 in Savings

MarketDash Editorial Team
6 days ago
Jaymes Lee Kim Meng opened seven 7-Eleven locations before turning 30, starting with just $20,000. His strategy: live frugally, work relentlessly, and eventually hire enough staff to shift from working in the business to working on it. But there's a catch—convenience stores never close.

Opening a business before you turn 30 is impressive. Opening seven of them? That takes a different level of commitment altogether. Jaymes Lee Kim Meng did exactly that, launching seven 7-Eleven convenience stores with just $20,000 in initial savings. Speaking with Singapore news network CNA Insider, Meng shared his journey and what it really takes to build a multi-location franchise operation while most people your age are still figuring out their career path.

But he didn't sugarcoat the reality. "It's a 24/7 business," Meng explained. "We do not close." That's not a marketing tagline—it's the actual operational challenge of running convenience stores that literally never shut their doors.

The Financial Security Play

Meng's goal wasn't just to be an entrepreneur for the sake of it. He wanted financial security and multiple income streams instead of relying on a single paycheck. 7-Eleven's youth entrepreneur program made that possible by cutting the typical franchise fee nearly in half. Where most franchisees pay $40,000 upfront plus another $30,000 over five years, Meng only needed $20,000 to launch his first location.

"I wanted to start something on my own and have job security," he told CNA Insider.

He snagged another favorable deal for his second store, but by the third location, the discount was over—he paid full price. Still, he managed to open three stores in his first year alone, eventually expanding to seven locations total. The 7-Eleven brand recognition and established systems gave him a framework to scale quickly without building everything from scratch.

Extreme Frugality Fueled Rapid Growth

Here's where Meng's story gets interesting. Once he opened that third store at full price, the costs started piling up. Each location carries ongoing expenses, and the math only works if you're disciplined about where your money goes. Meng responded by living on basically nothing.

"I did not go on holidays," he said. "I did not hold grand birthday parties. I did not buy expensive gifts for my partner. I wasn't married then. I really just survived bare minimally. It was just three meals a day, going home, and public transport."

No car. Just buses. No vacations. No celebrations. It's the kind of lifestyle that doesn't make for glamorous Instagram posts, but it freed up capital to reinvest into additional locations. Those short-term sacrifices created long-term assets—multiple commercial properties generating consistent cash flow, plus the operational knowledge to add more stores whenever he wants.

Shifting from In the Business to On the Business

In the early days, Meng worked inside his stores. If an employee called in sick, he had to cover the shift himself because 7-Eleven locations don't close. Ever. But as he expanded to more locations, he hired enough staff to step back from the counter and focus on higher-level management.

This is the classic "working on the business versus in the business" framework from Michael Gerber's book "The E-Myth." Working in the business means handling day-to-day tasks—ringing up customers, placing orders, stocking shelves. Working on the business means strategic thinking—managing people, dealing with headquarters, planning expansion.

"Previously, when it was one store, two stores, I would see myself as managing the store itself," Meng said. "I was in the store. I was doing orders myself. I was manning the counter myself. Now I do more of a backend role where I manage the business, people, and HQ."

That transition is crucial for scaling any business. You can't open your seventh location if you're still working the register at your first one.

The Commitment Factor

Meng wrapped up with some straightforward advice for anyone looking to replicate his success. It's not about having a perfect plan or waiting for ideal conditions. It's about commitment.

"The commitment really has to be there," he told CNA Insider. "It's about a mindset thing, where you have to see it as your own business, and when you're committed enough, you're determined enough, you can do anything."

That mindset matters especially in a business model where the doors never close and you're on call whenever something goes wrong. But if you can survive the frugal years and build systems that eventually run without you, you end up with multiple income-generating assets before you're 30. Not a bad trade.

    How a Young Entrepreneur Built Seven Convenience Stores Before 30 on $20,000 in Savings - MarketDash News