How much does a GNC franchise cost?
- Initial Franchise Fee: $20,000
- Total Investment: $153,758 to $380,173
- Working Capital: $10,000 to $30,000
- Royalty Fee: 6.0%
(also known as General Nutrition Centers and abbreviated GNC) is a company based in Pittsburgh, Pennsylvania. It specializes in health and nutrition related products, including vitamins, supplements, minerals, herbs, sports nutrition, diet, and energy products.
What is a GNC franchise?
As a leading global specialty retailer of health and wellness products, GNC is committed to providing the training and support you need to operate a thriving franchise business dedicated to helping consumers Live Well.
When did GNC start diversifying into supplements?
It began diversifying in 1988. With organization and diversified stores all through the United States and around the world, GNC now concentrates on vitamins and dietary supplements.The 'GNC Live Well' store design offers a full line of supplements in addition to fragrance based treatment, shower and spa items. #195 in Franchise 500 for 2020.
What is GNC Live Well?
With organization and diversified stores all through the United States and around the world, GNC now concentrates on vitamins and dietary supplements.The 'GNC Live Well' store design offers a full line of supplements in addition to fragrance based treatment, shower and spa items. #195 in Franchise 500 for 2020.
Is GNC going out of business in December?
Driving vitamin and supplements brand GNC Holdings, Inc. (NYSE: GNC) reported today that every single corporate store will close on December 28 and revive on December 29, when GNC will give clients a significantly enhanced involvement with the dispatch of One New GNC (#ONEnewGNC). The organization w...
How much does it cost to open a GNC franchise?
What is GNC Holdings?
What is GNC in nutrition?
How much did Shakarian spend in his first day?
When will GNC stores close?
Do international franchisees have to buy multiple units?
Does GNC sell vitamins?
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How much does it cost to open up a GNC?
GNC Franchise Costs & FeesName of FeeLowHighMiscellaneous Opening Costs$3,000$4,000Rent/Leasehold Space$825$18,334Additional Funds—3 months$10,000$30,000ESTIMATED TOTAL (for a new franchise store)$196,475$507,03311 more rows
How much does a GNC owner make?
Average GNC Founder and CEO yearly pay in the United States is approximately $56,380, which is 25% below the national average.
How much does a GNC franchise make?
How much money does a GNC franchise make? GN Centers Franchise Owners earn $48,000 annually, which is 22% less than the national average of $60,000 for all Franchise Owners and 32% less than the average wage of all American workers.
How many GNC franchises are there?
Facts & FiguresLiquid capital required$130,000Royalty6.0%Units in operation6,377Founded1935Franchising Since19383 more rows
Who is GNC owned by?
In September 2020, the bankruptcy court in Delaware approved the sale of GNC for $770 million to Harbin Pharmaceutical Group. The company emerged from the Chapter 11 process under the new ownership of Harbin Pharmaceutical Group in October 2020.
How is GNC doing financially?
GNC lost $35 million in 2019, followed by a $200 million loss in the first quarter of 2020 alone. The problem is that GNC's prices are too high, and the company is being undercut by online retailers. GNC's large physical footprint has become a liability.
Is Vitamin Shoppe a franchise?
Our franchise process has six key steps. The process can take from 6 to 9 months. The purpose of the franchise application is to help both the Vitamin Shoppe and the prospective franchisee evaluate the market opportunity and build a business case to support the required investment .
Why is GNC stock so low?
GNC Holdings filed bankruptcy on June 23, 2020. Harbin Pharmaceuticals, a large shareholder, submitted a "stalking horse bid" for the company as part of the filing. Shares were delisted and moved to the "pink sheets" where value has slowly decayed awaiting bankruptcy settlement. The common is now trading below $0.15.
Who are GNC competitors?
GNC competitors include Herbalife, Vitamin World, Vitacost and Vitamin Shoppe. GNC ranks 2nd in Gender Score on Comparably vs its competitors. See below how GNC compares to its competitors with CEO Rankings, Product & Services, NPS, Pricing, Customer Services, Overall Culture Score, eNPS, Gender and Diversity Scores.
Is GNC worth?
Overall Rating 8.7 / 10. GNC has a massive catalog of high-quality products online and in thousands of retail stores across the country. They set the standard for supplement marketplaces, but setting the standards means that we found little that makes them shine above and beyond their competitors.
Is GNC a Fortune 500 company?
GNC Holdings | 2022 Fortune 500 | Fortune.
Where is the GNC headquarters located?
Pittsburgh, PAGNC / HeadquartersGNC Corporation, headquartered in Pittsburgh, PA, is a specialty retailer of nutritional supplements and other health products.
What happened to GNC?
GNC, the 85-year old seller of vitamins and dietary supplements, filed for bankruptcy late Tuesday and said it plans to close as many as 1,374 stores, or nearly half of its company-owned locations, in the U.S. and Canada by the end of the year.
Where are GNC products manufactured?
The supplements manufacturing business of GNC now operates two facilities, one in Greenville, SC with 320,000 square feet and one in Anderson, SC totalling 630,000 square feet of production and warehousing.
Start a GNC Live Well Franchise, 2022 Costs & Fees
What Does a GNC Live Well Franchise Cost?. To buy a franchise with GNC Live Well, you'll need to have at least $85,000 in liquid capital and a minimum net worth of $150,000. Franchisees can expect to make a total investment of $170,000 - $185,000.They also offer financing as well as a discount for veterans (Negotiable).
GNC Franchisee Owners List | FranchiseComplaints.org
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What's next for bankrupt GNC? | Retail Dive
But GNC's debt load was still heavy for a retailer whose revenue has declined for five straight years and has posted a negative profit for three years out of the past five. With its retail ...
GNC Franchise Costs: Estimated Initial Investment (Item 7, 2021 FDD)
A New Franchise Store may be awarded to a new franchisee, an existing franchisee, or an employee of the franchisor pursuant to its employee program. The initial franchise fee for a New Franchise Store is $20,000 for a new franchisee.
For a New Store
A New Franchise Store may be awarded to a new franchisee, an existing franchisee, or an employee of the franchisor pursuant to its employee program. The initial franchise fee for a New Franchise Store is $20,000 for a new franchisee.
How much does a GNC franchise make?
Franchise revenue and profits depend on a number of unique variables, including local demand for your product, labor costs, commercial lease rates and several other factors. We can help you figure out how much money you can make by reviewing your specific situation. Please unlock this franchise for more information.
What is franchise grade?
Franchise Grade is dedicated to providing research and education that can help you make confident franchise investment decisions.
Is GNC a graded company?
GNC is graded based on our most recent research.
Are there any GNC franchise opportunities near me?
Based on 2019 FDD data, GNC has franchise locations in 40 states plus DC. The largest region is the South with 521 franchise locations.
What Does a GNC Live Well Franchise Cost?
To buy a franchise with GNC Live Well, you'll need to have at least $85,000 in liquid capital and a minimum net worth of $150,000. Franchisees can expect to make a total investment of $170,000 - $185,000. They also offer financing. *
What is the benefit of being a GNC franchisee?
As a GNC Franchisee, you enjoy the flexibility of being your own boss and the reward of working in an industry that helps people live well. Even better, GNC minimizes your risk by providing outstanding operational support including training, marketing, and sales and merchandising assistance designed to maximize your return on investment.
Does GNC have classroom training?
GNC provides comprehensive classroom training at our world headquarters and on-site support to fully assist you in your new GNC store. Marketing, sales and merchandising support are designed to help you achieve maximum return on investment.
Is GNC a franchise?
Entrepreneur magazine has ranked GNC the #1 franchise in our industry for 24 consecutive years— and these savings make now an even better time to join GNC in the fast growing 27 billion dollar health and nutrition market!
What is a GNC franchise?
Franchise Description: The franchisor is GNC Holdings, LLC. GNC stores specialize in the sale of vitamins, minerals and other food supplements, natural cosmetics and other health management items. The franchise offered is the license to operate a GNC retail store at a fixed location. If franchisees qualify, the franchisor may allow them to include within the store a GNC Smoothie Bar, which will offer for sale smoothies consisting of fruit, juice and specially developed nutritional supplements. The franchisor currently offers the following franchise programs:
How long does a franchise last?
Term of Agreement and Renewal: The length of the initial franchise term commences on the store opening date and ends on the earlier of five years from the store opening date, or the expiration or termination of the lease or sublease for the store. If franchisees meet the requirements, they can renew their franchise for additional consecutive five-year terms.
What is a protected territory in a franchise agreement?
Territory Granted: In the Franchise Agreement, the franchisor grants the right to operate a store at a specific location once it is approved. The franchisor will grant franchisees an exclusive territory within a particular radius measured from the public entrance to the store (not the mall or strip center entrance) referred to as the “protected territory,” for a specified period of time. The franchisor reserves certain rights, but for a specified period of time it will not establish either a company-owned or franchised GNC store physically located within the protected territory. If the approved location is located in an enclosed shopping mall, the protected territory will generally encompass the shopping mall premises (including the parking lot). If the approved location is not located in a shopping mall, the size of the protected territory will generally encompass the shopping mall premises (including the parking lot). If the approved location is not located in a shopping mall, the size of the protected territory will vary depending on a number of factors, including demographic barriers, market strength measured by various market data profile studies, population density, median income per household, and the categories of products to be offered at the store, particularly in relation to the competition in the relevant market. The duration of exclusivity is currently given as one year.
How long does it take to train a franchisee?
To successfully complete Phase I training, franchisees will be required to spend 40 hours of on-the-job training in a company-owned GNC store and, in the franchisor’s sole discretion, depending on their experience with GNC store operations, up to 16 hours visiting franchised GNC stores with their Director of Franchise Operations. This training will provide franchisees with an orientation to the operation of a GNC store. Phase II training requires that franchisees attend up to a five-day classroom training program. Phase II training will take place at the franchisor’s Franchise Support Center in Pittsburgh, Pennsylvania or such other location designated by the franchisor and must be completed prior to the opening of the store. Phase III training for a new franchise store for a new franchisee is an up to seven-day process at the franchisee’s store. This training takes place when the grand opening shipment is scheduled to be received, and includes receiving the initial delivery and setting the store up for opening. The franchisor does not require any additional initial training if franchisees successfully complete Phase I Phase II and Phase III training. At its option, the franchisor may require any manager subsequently employed by franchisees to attend and complete to its sole satisfaction the initial training program. The franchisor may require that franchisees attend additional training programs or periodic refresher courses at such times and places as the franchisor designates.
Does franchising offer financing?
Financial Assistance: The franchisor does not offer direct or indirect financing. The franchisor does not guarantee any note, lease or any other obligation franchisees may incur. The franchisor will not finance ongoing store operations, nor does it finance any new or existing franchisees that purchase existing franchised stores. The franchisor may in its sole discretion extend credit to qualified franchisees for the ongoing purchase of inventory.
Does franchising require additional training?
The franchisor does not require any additional initial training if franchisees successfully complete Phase I Phase II and Phase III training. At its option, the franchisor may require any manager subsequently employed by franchisees to attend and complete to its sole satisfaction the initial training program.
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How long has GNC been in franchise?
GNC has been perfecting the franchise system for over 25 years. When you join our system, you gain access to a company with 80 years of retail experience.
What is GNC brand?
GNC is a leading, highly regarded brand in Health and Wellness, with a multi-channel, global reach.
What is GNC health?
GNC is the world's LEADING specialty retailer of health and wellness products , including vitamins, minerals and herbal supplement products, sports nutrition products and diet products. Our company has been continuously ranked as the #1 franchise in our industry by Entrepreneur Magazine!
What are the requirements to get a franchise in GNC?
This includes credit approval from your bank, financial statement showing that you have the capital to start the business, and a background check on health.
What is GNC nutrition?
General Nutrition Centers (GNC) Franchising Inc. has been one of the world’s leading vitamin s and nutrition provider for the past decades. Started in 1935, the company now offers full line of mineral supplements, diet foods and drinks, and cosmetics.
Does GNC franchise allow absentee ownership?
The company will also require you to pay an ongoing royalty fee of six percent of your total annual gross. The company does not allow absentee ownership of franchise. Opportunity in the GNC franchise is simply endless, especially now that people are looking to a more healthy options and lifestyle.
GNC Franchise Cost and Concerns
GNC franchise cost can range dramatically depending on whether you build out a new store location or convert a company-owned store to a franchise store. Is the GNC franchise opportunity a sound investment at this time? Unhappy Franchisee investigates and shares our concerns.
GNC Franchise Cost
According to the 2016 GNC Franchise Disclosure Document (FDD), the total investment necessary to begin operation of a single new GNC franchise store ranges from approximately $192,117 to $354,217.
How much does it cost to open a GNC franchise?
The estimated investment required to open a GNC Franchise is between $149,722-$388,630. There is an initial franchise fee of $40,000 which grants you the license to run a business under the GNC name.
What is GNC Holdings?
(NYSE: GNC), the nation's largest specialty retailer of health and wellness products, today noted that it has been named the top Health & Beauty franchise in the world on the Top 100 Global Franchises list from Franchise Direct.
What is GNC in nutrition?
GNC likewise started delivering its own vitamin and mineral supplements, sustenances, beverages and beautifiers . It began diversifying in 1988.
How much did Shakarian spend in his first day?
Starting with $35 in receipts his first day, Shakarian extended to six Pittsburgh-territory stores in five years. As more individuals got to be distinctly keen on common ...
When will GNC stores close?
Driving vitamin and supplements brand GNC Holdings, Inc. (NYSE: GNC) reported today that every single corporate store will close on December 28 and revive on December 29, when GNC will give clients a significantly enhanced involvement with the dispatch of One New GNC (#ONEnewGNC).
Do international franchisees have to buy multiple units?
International franchisees required to buy multiple units/master licenses; 65% of all franchisees own more than one unit
Does GNC sell vitamins?
With organization and diversified stores all through the United States and around the world, GNC now concentrates on vitamins and dietary supplements.The 'GNC Live Well' store design offers a full line of supplements in addition to fragrance based treatment, shower and spa items.
