Rank no. 97 – Gateway Cigar Store/Newstands – US
Products & Services: Newsstand & sundry store
Number of Locations: 384
Total Investment: $55.88K – 501.75K
Began Franchising: 1983
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.
Net Worth: $200,000
Liquid Cash Available: $75,000
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|
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.
|$15,000 – $150,000|
Total Start-up Investment
|$55,875 – $501,750|
Liquid Capital Required
Minimum Net Worth