Gateway Cigar Store/In the Presstands Franchise
Monday, April 26, 2010 at 07:46AM Tobacco store and newsstand
Gateway In the Pressstands 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. Franchise business owners 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.
Start-up Costs & Franchises Fees
What is the total cost to open a Gateway Cigar Store/In the Presstands Franchises?
Total Cost: $55,900-$501,800
Total Franchise Fees: $15,000 USD -$125,000 USD
Ongoing Royalty Fees: 3.5%
Ongoing Advertising Fees: Not Available
Term of Agreement: 5
Franchise Agreement Renewal Fee: Varies
Contact Information for Gateway Cigar Store/In the Presstands
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Gateway Cigar Store/In the Presstands |
Phone Number: (905)737-7755 |
Historical Expansion
In what year did Gateway Cigar Store/In the Presstands begin operations? 1983
When did Gateway Cigar Store/In the Presstands begin selling franchises? 1983
Year United States Canada International Corporate 2005 140 236 0 0 2004 140 236 0 0 2003 135 231 0 0 2002 109 222 0 0 2001 99 220 0 0
Franchise Financing Information
Cost In House Financing Available? 3rd Party Financing Available? Franchise Fee No No Initial Start-up Capital No No Plant, Property, and Equipment No Yes Inventory No No Accounts Receivable No No Payroll No No
Training & Support
Support
In the Pressletter, Toll free phone number, Grand opening support, Internet referrals, Safety and Security procedures, Field support and site evaluation, Purchasing cooperatives
Franchise Operation Restrictions
Number of employees needed to run franchised unit: 1 - 2
Absentee ownership of franchise is allowed. (90% of current franchise business owners are owner/operators)
Qualifications & Business Experience
Business Experience:
General business experience
Franchise Analyzer Professional's Inside Information
Can you buy this franchise for no money down? YesPlease note: You must download a free copy of Franchise Analyzer Professional to receive these benefits and so much more. Click here to download your FREE copy now.
What key terms in the franchise agreement can be negotiated? Cross-default provisions, arbitration clause, personal guarantee, default cure periods, non-compete agreement, favorable valuations for corporate buyout
Can you negotiate lower royalties during start-up? Yes
Can you purchase multiple franchises for a discounted franchise fee? Yes
Can you receive lower advertising fees? Yes
Will I know when the franchise break even? Yes
Will my personal assets including my home be safe in case my franchise business fails? Yes