For the first time in its nearly 50 year history, The Vitamin Shoppe is launching a franchise strategy.
The company on Monday announced the opening of its first franchise location in Valparaiso, Indiana. The Vitamin Shoppe currently has signed 58 franchise territories to 15 franchise partners and plans to open a dozen or more locations this year as it breaks into new markets around the U.S.
“This store is the first of many to open in the coming months and years, as franchising becomes a significant retail growth engine for The Vitamin Shoppe, building upon our industry-leading position in the flourishing health and wellness space,” CFO Laura Coffey said in a statement.
The Valparaiso location also touts services including same-day Instacart delivery, BOPIS, curbside pickup, mobile checkout and virtual one-on-one appointments with a nutritionist.
The Vitamin Shoppe requires potential franchisees to have a minimum net worth of $750,000 and $200,000 of that in liquidity.
The retailer currently has over 700 company-operated retail stores under its namesake and Super Supplements banners.
Parent company Franchise Group also owns Pet Supplies Plus, American Freight, Buddy’s Home Furnishings, Sylvan Learning, Badcock Home Furniture & More and Wag N Wash — all companies that also have franchise options. The investment firm was considering going private, according to reporting earlier this year by The Wall Street Journal.
Franchise Group was in negotiations to acquire Kohl’s last year in a deal that ultimately fell through.
via https://www.aiupnow.com
Kaarin Vembar, Khareem Sudlow
