GNC Franchise
Thursday, May 13, 2010 at 02:51PM Vitamin and nutritional products stores
In 1935 David Shakarian started a health-food store in Pittsburgh called Lackzoom. It specialized in yogurt (which his father had helped introduce to the United States), but also carried health-food products such as honey and grains. Beginning with $35 in receipts his first day, Shakarian expanded to six Pittsburgh-area stores in five years.
As more people became interested in natural foods and better nutrition, Shakarian opened stores in other states and changed the company's name to General Nutrition Centers (GNC). GNC also began producing its own vitamin and mineral supplements, foods, drinks and cosmetics. It started franchising in 1988.
With company and franchised stores throughout the United States and worldwide, GNC now focuses on vitamins and nutritional supplements.The 'GNC Live Well' store format offers a full line of supplements plus aromatherapy, bath and spa products.
Start-up Costs & Franchises Fees
What is the total cost to open a GNC Franchises?
Total Cost: $165,000 USD -$205,000 USD
Total Franchise Fees: $30,000 USD -$40,000 USD
Ongoing Royalty Fees: 6%
Ongoing Advertising Fees: Not Available
Term of Agreement: 10 years
Franchise Agreement Renewal Fee: Current franchise fee
Contact Information for GNC
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GNC Franchising Inc. |
Phone Number: (412)338-2503 |
GNC In the Press
No results at this time.Historical Expansion
In what year did GNC begin operations? 1935
When did GNC begin selling franchises? 1988
Year United States Canada International Corporate 2005 1314 0 737 3657 2004 1324 7 692 2649 2003 1402 7 566 2531 2002 1365 7 520 2789 2001 1368 2 311 2817
Future Expansion
Countries of Interest:
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 Yes No Inventory No No Accounts Receivable No No Payroll No No Other Sources for Financing: Signage & leasehold improvementsments
Training & Support
Support
In the Pressletter, Meetings, Toll free phone number, Grand opening support, Internet referrals, Safety and Security procedures, Field support and site evaluation, Purchasing cooperatives
Marketing
Cooperative advertising, Ad slicks, National media, Regional advertising support
Franchise Operation Restrictions
International franchise business owners required to buy multiple units/master licenses; 65% of all franchise business owners own more than one franchise location.Number of employees needed to run franchised unit: 3 - 4
Absentee ownership of this franchise business is not available to new franchisees. (100% of current franchise business owners are owner/operators)
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