1. NAME/CONCEPT: GNC
Fully equipped and staff for a flawless transition.
GNC is an American company selling health and nutrition related products, including vitamins, supplements, minerals, herbs, sports nutrition, diet, and energy products.
2. ADDRESS/AREA INFO:
Affluent Baltimore Maryland Suburb
In-line strip center, nationally anchored. 1395 sq. ft.
4. RENTAL RATE/TERMS/OPTIONS:
$5400.17 – lease expires 07/2020
5. OPERATING HISTORY:
The unit initially opened in approximately 1995, I took ownership in Sept 2001.
6. VOLUME/NET Profit:
$519693 / $44885 with absentee after paying General Managers salary of $45,000 which could be absorbed by the new Owner if hands on. General Manager is in place and not leaving freeing up Owner to grow business.
7. HOURS OF OPERATION:
M-S 10-9, Sunday 12-5
8. Price – $225,000 includes $65,000 of inventory and 50% of Franchise Transfer Fee. Some Owner financing available.
GNC Franchise agreement $40K for a 20-year deal –
Years 1-10 included in the original deal
Years 11-15 are at the discretion of the franchise to renew for 1/3 the current fee
Years 16-20 are at the discretion of the franchise to renew for 1/3 the current fee
Every 5 years afterward are the same fee (1/3 the current)
Franchise Fees are 6% of Gross Sales and are exclusive of any sales tax and documented refunds.
Franchisees contribute 3 % of their gross sales in support of these campaigns. GNC invests millions of dollars in national advertising campaigns to help drive traffic into stores around the country. GNC designs and provides franchisees with information and tools to help them execute local marketing to drive traffic to their individual store.
Financially – a prospective franchisees have to have a minimum credit score of 670 and proof of funds in the amount of $130,000, which are typically validated by submitting 3 months of bank statements. Once the applicant is approved financially, there’s an online interview/presentation with the Franchise Development Manager, then they submit a business plan for review and we obtain a background check. If all of those pieces are satisfactory, they receive notice of their final approval and can proceed to sign franchise contracts.
They also have to complete GNC’s training program, which is 80 hours in a corporate store, followed by 40 hours here at the CSC in Pittsburgh.
GNC Holdings, Inc. (NYSE: GNC) – Headquartered in Pittsburgh, PA – is a leading global specialty health, wellness and performance retailer.
GNC connects customers to their best selves by offering a premium assortment of health, wellness and performance products, including protein, performance supplements, weight management supplements, vitamins, herbs and greens, wellness supplements, health and beauty, food and drink and other general merchandise. This assortment features proprietary GNC and nationally recognized third-party brands.
GNC’s diversified, multi-channel business model generates revenue from product sales through company-owned retail stores, domestic and international franchise activities, third-party contract manufacturing, e-commerce, and corporate partnerships.
In 1935, David Shakarian realized his dream by establishing a little health food store, called Lackzoom, in Pittsburgh, Pennsylvania. Shakarian’s first storefront was located at 418 Wood Street in downtown Pittsburgh. Lackzoom specialized in yogurt, a food that his father helped introduce in the United States, but also sold other healthy foods such as honey, grains and “healthy sandwiches”.
Even though health food was thought to be a passing fad back then, people welcomed Shakarian’s store. And, although his first day’s receipts totaled only $35, he was able to go on to make enough money to open a second location six months later.
Disaster struck with the 1936 St. Patrick’s Day flood, which wiped out both of Shakarian’s stores. But he was able to reopen both locations and went on to own six Pittsburgh area stores within the next five years. The ’60s decade saw many changes, and people began to embrace the concept of natural foods and better nutrition. Shakarian met the growing demand by opening stores in other states. In this process, he also changed the name of his chain to General Nutrition Centers.
As the store count continued to grow, GNC began producing its own vitamin and mineral supplements as well as foods, beverages, and cosmetics. By the early 1980s, the number of GNC locations had grown to more than 1,000.
Although we lost our founder in 1984, GNC has steadfastly continued to expand upon Shakarian’s dream. General Nutrition Centers, Inc. still has Pittsburgh roots, and our world headquarters is located just two blocks from the original Lackzoom storefront. Today, GNC is the largest global specialty retailer of nutritional products; including vitamin, mineral, herbal and other specialty supplements and sports nutrition, diet and energy products, GNC has more than 4,800 retail locations throughout the United States (including more than 1,000 franchise and 1,200 Rite Aid store-within-a-store locations) and franchise operations in 46 international markets.
GNC is committed to providing the training and support you need to operate a thriving franchise business dedicated to helping consumers Live Well. We are proud to be able to provide franchisees with a level of support that is among the best in the specialty retail industry. You’ll receive unparalleled, expert guidance in developing your operations.
We provide ongoing support in the form of the GNC Franchise Operations Manual to help you with day-to-day operations; field support from a dedicated franchise field representative; ongoing purchasing services; inventory management; financial services; technical assistance; as well as guidance and resources for your promotional, operational and other business needs. Plus, you can access a variety of online resources through our franchise intranet-support system.
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