Rank no. 97 – Gateway Cigar Store/Newstands – US
Rank no. 97 – Gateway Cigar Store/Newstands – US
Products & Services: Newsstand & sundry store
Number of Locations: 384
Total Investment: $55.88K – 501.75K
Founded: 1983
Began Franchising: 1983
About Gateway Cigar Store/Newstands
Gateway Newsstands was founded in 1983 by Michael Aychental and David Goldman, who started franchising the concept the same year. A family-owned and -operated partnership based in Canada, Gateway has grown to more than 300 stores in North America, including locations in Toronto, New York and Chicago.
Gateway emphasizes a hands-on business approach, putting a franchise owner in each of its locations. Franchisees work from kiosks or stores in large office buildings, selling snacks, drinks, candy, cards, tobacco, reading material, lottery tickets and other impulse buys. Open from 7:30 a.m. to 6:00 p.m., Gateway stores have less demanding working hours than most convenience stores.
Franchise Units
YEAR | U.S. | CANADIAN | INTERNATIONAL | COMPANY OWNED |
2013 | 145 | 239 | 0 | 0 |
2012 | 139 | 241 | 0 | 0 |
2011 | 136 | 241 | 0 | 0 |
2010 | 133 | 246 | 0 | 0 |
2009 | 138 | 244 | 0 | 0 |
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $15,000 – $150,000
Ongoing Royalty Fee: 3.5%
Term of Franchise Agreement: 5, 7 or 10 years, renewable
FINANCIAL REQUIREMENTS
Net Worth: $200,000
Liquid Cash Available: $75,000
OPERATIONS
Number of employees needed to run franchised unit: 1 – 2. Absentee ownership of franchise is allowed. (90% of current franchisees are owner/operators).
FINANCING TYPE | IN-HOUSE | THIRD PARTY |
Franchise Fee | ||
Startup Costs | ||
Equipment | ||
Inventory | ||
Accounts Receivable | ||
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How This Franchise Supports Franchisees
Franchise Ranking History
FRANCHISE HIGHLIGHTS
Franchise Overview Gateway Cigar Store/Newstands is a Business-to-Business franchise in the Other market. Gateway Cigar Store/Newstands has an estimated 380 franchises, which is 243 more than the average for all Franchise Business Opportunities. Franchise Fees Franchise Specifics |
FRANCHISE FEES
Franchise Fee
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$15,000 – $150,000 |
Total Start-up Investment
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$55,875 – $501,750 |
Liquid Capital Required
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$75,000 |
Minimum Net Worth
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$200,000 |
Royalty
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4 |
FRANCHISE AVAILABILITY
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