Start-Up Costs and Fees |
||
| am/pm Convenience Stores | Raceway | |
| Investment | 440291 - 10405152 | 125000 - 220000 |
| Franchise Fee | ||
| Royalty Fee | 11%-14% | |
| Advertising Fee | 5.50% | |
| Year Founded | 1975 | 1934 |
| Year Franchised | 1979 | 0 |
| Term Of Agreement | ||
| Term Of Agreement | ||
| Renewal Fee | ||
Business Experience Requirements |
||
| am/pm Convenience Stores | Raceway | |
| Experience | - U.S. citizenship, or permanent resident alien status with a minimum age of 21 years old - Personal participation in operating a retail facility (minimum of 40 hours per week) - Successfully complete all training requirements - Good credit record / credit history evidenced by prompt payment of all financial obligations - Liquid capital required may be $1,200,000 or higher - Possess an entrepreneurial attitude, creativity and the ability to make sound business decisions - Ability to create and implement a comprehensive business plan - Ability to successfully execute the am/pm franchise operational procedures - Excellent project management skills and attention to detail - Ability to obtain/qualify for a beer and wine sales license for off-site consumption | We have found that individuals who possess an entrepreneurial spirit, a sense of community, a commitment to operational excellence and the ability to deliver superior guest service are the best representatives of the RaceWay name. The capital investment required for a RaceWay store ranges from $125,000 on the low end to $175,000 on the high end. The figure varies depending on the size of the store, property values, location and equipment costs. |
Financing Options |
||
| am/pm Convenience Stores | Raceway | |
| Franchise Fees | No | |
| Start-up Costs | No | |
| Equipment | No | |
| Inventory | No | |
| Receivables | No | |
| Payroll | No | |
Training & Support |
||
| am/pm Convenience Stores | Raceway | |
| Training | On-The-Job Training: 120 hours Classroom Training: 66 hours Additional Training: In-class sessions & hands-on training | New Operators will receive assistance with vendor options and layout designs from the RaceWay Store Set-up team if desired. Prior to opening, we encourage new Operators to train at an existing operating store for a week. For the first week of your store operation, a District Manager will train you on the use of all on-site equipment, daily reporting, and RaceWay s policies and procedures. |
| Support | Ongoing Support Purchasing Co-ops Toll-Free Line Grand Opening Field Operations | Meetings, Toll-free phone line, Grand opening, Internet, Field operations/evaluations |
| Marketing | Co-op Advertising Regional Advertising Social media Loyalty program/app | |
| Operations | Number of Employees Required to Run: 10 | Number of employees needed to run unit: 3 - 7 Most Operators operate only one store and that is the model that RaceWay prefers. We do allow certain Operators to operate more than one store based on factors like the distance between the first and second location and our evaluation of an Operator's potential to operate an additional store successfully. Allowing an Operator to run more than one store is entirely up to RaceWay, but if you are permitted to operate multiple stores, it doesn't mean we guarantee that you will be successful in either location. You will be required to operate your store continuously during the hours provided in your lease agreement usually from 6am - 11pm, 7 days per week. We strongly encourage every store to be open 24 hours a day. |
Expansion Plans |
||
| am/pm Convenience Stores | Raceway | |
| US Expansion | Arizona, California, Nevada, Oregon, Washington | Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas, Virginia |
| Canada Expansion | 0 | |
| International Expansion |
Start-Up Costs and Fees Mobile |
|
| Investment | |
| am/pm Convenience Stores | |
| Raceway | |
| Franchise Fee | |
| am/pm Convenience Stores | |
| Raceway | |
| Royalty Fee | |
| am/pm Convenience Stores | 11%-14% |
| Raceway | |
| Advertising Fee | |
| am/pm Convenience Stores | 5.50% |
| Raceway | |
| Year Founded | |
| am/pm Convenience Stores | 1975 |
| Raceway | 1934 |
| Year Franchised | |
| am/pm Convenience Stores | 1979 |
| Raceway | 0 |
| Term Of Agreement | |
| am/pm Convenience Stores | |
| Raceway | 1 Year (Minimum) |
| Renewal Fee | |
| am/pm Convenience Stores | $35K-60K |
| Raceway | |
Business Experience Requirements |
|
| Experience | |
| am/pm Convenience Stores | - U.S. citizenship, or permanent resident alien status with a minimum age of 21 years old - Personal participation in operating a retail facility (minimum of 40 hours per week) - Successfully complete all training requirements - Good credit record / credit history evidenced by prompt payment of all financial obligations - Liquid capital required may be $1,200,000 or higher - Possess an entrepreneurial attitude, creativity and the ability to make sound business decisions - Ability to create and implement a comprehensive business plan - Ability to successfully execute the am/pm franchise operational procedures - Excellent project management skills and attention to detail - Ability to obtain/qualify for a beer and wine sales license for off-site consumption |
| Raceway | We have found that individuals who possess an entrepreneurial spirit, a sense of community, a commitment to operational excellence and the ability to deliver superior guest service are the best representatives of the RaceWay name. The capital investment required for a RaceWay store ranges from $125,000 on the low end to $175,000 on the high end. The figure varies depending on the size of the store, property values, location and equipment costs. |
Financing Options |
|
| Franchise Fees | |
| am/pm Convenience Stores | No |
| Raceway | No |
| Start-up Costs | |
| am/pm Convenience Stores | |
| Raceway | |
| Equipment | |
| am/pm Convenience Stores} | |
| Raceway | |
| Inventory | |
| am/pm Convenience Stores | |
| Raceway | |
| Receivables | |
| am/pm Convenience Stores | |
| Raceway | |
| Payroll | |
| am/pm Convenience Stores | |
| Raceway | |
Training & Support |
|
| Training | |
| am/pm Convenience Stores | On-The-Job Training: 120 hours Classroom Training: 66 hours Additional Training: In-class sessions & hands-on training |
| Raceway | New Operators will receive assistance with vendor options and layout designs from the RaceWay Store Set-up team if desired. Prior to opening, we encourage new Operators to train at an existing operating store for a week. For the first week of your store operation, a District Manager will train you on the use of all on-site equipment, daily reporting, and RaceWay s policies and procedures. |
| Support | |
| am/pm Convenience Stores | Ongoing Support Purchasing Co-ops Toll-Free Line Grand Opening Field Operations |
| Raceway | Meetings, Toll-free phone line, Grand opening, Internet, Field operations/evaluations |
| Marketing | |
| am/pm Convenience Stores | Co-op Advertising Regional Advertising Social media Loyalty program/app |
| Raceway | |
| Operations | |
| am/pm Convenience Stores | Number of Employees Required to Run: 10 |
| Raceway | Number of employees needed to run unit: 3 - 7 Most Operators operate only one store and that is the model that RaceWay prefers. We do allow certain Operators to operate more than one store based on factors like the distance between the first and second location and our evaluation of an Operator's potential to operate an additional store successfully. Allowing an Operator to run more than one store is entirely up to RaceWay, but if you are permitted to operate multiple stores, it doesn't mean we guarantee that you will be successful in either location. You will be required to operate your store continuously during the hours provided in your lease agreement usually from 6am - 11pm, 7 days per week. We strongly encourage every store to be open 24 hours a day. |
Expansion Plans |
|
| US Expansion | |
| am/pm Convenience Stores | Arizona, California, Nevada, Oregon, Washington |
| Raceway | Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas, Virginia |
| Canada Expansion | |
| am/pm Convenience Stores | 0 |
| Raceway | |
| International Expansion | |
| am/pm Convenience Stores | |
| Raceway | |