GNC LIVE WELL Franchise Startup Cost, Profit Margin, Revenue and Locations
General Nutrition Centre is the largest distributor of wellness and health products internationally. They are involved in the distribution of vitamins, minerals, sports nutrition, herbal products and diet products. The company has more than 8,000 networks spread across the United States and Canada. With this large number of networks and the effectiveness of their merchandise, a lot of people want to know how much a GNC Live Well franchise is
FRANCHISE INFORMATION ABOUT THE COMPANY
The company was founded in the year 1935 when David Shakarian started his health food store that he gave the name Lackzoom. They started as a yogurt company (Which his father had initially introduced into the United States) but the company also sold health foods products as grains and honey. What actually started as a $35 in receipts on the first day of operation, expanded to about 6 areas in Pittsburgh within 5 years.
When the news spread about the health benefits if natural foods and better nutrition, David launched more stores in other parts of the country and the company changed its name into General Nutrition Centres (GNC). And afterward started producing their own vitamins and minerals, drinks, foods and cosmetics.
Although it took a very long time before the company started selling franchises, which they began in the year 1988. Presently, with their company and franchise units all over the United States and other countries of the world, GNC Live Well now focus on the production and distribution of natural supplements and vitamins.
IS GNC LIVE WELL A FRANCHISE
GNC Live Well is a franchise and they have been selling franchise opportunities since the year 1988.
THE FRANCHISE OPPORTUNITY
When you buy into a GNC Live Well Franchise, you will be a part of a company that caters to you and offers you a wide range of opportunities to achieve your dreams and goals. Listed below are the various benefits you get with the company:
- Buying into a GNC Live Well franchise entails very low capital investment with high margins and also the opportunity to earn greatly
- The company has more than 8000 locations spread to different parts of the world so you will be buying into a business that already has a worldwide recognition.
- You will also benefit from over 77 years of the company dominating the market and also an outstanding support in your business.
- You will be part of an intensive classroom training that will take you through the whole process of business activities with the franchise.
HOW MUCH DOES A GNC LIVE WELL FRANCHISE COST
Buying into a GNC Live Well franchise is considered lucrative, though you can’t but incur some costs in making your dreams a reality. The initial investment needed to establish a franchise unit is within the range of $190,000 and $350,000. You are also expected to have a net worth of about $100,000 and a liquid cash of the same amount of money.
GNC LIVE WELL FRANCHISE FEE
The GNC Live Well franchise fee is the payment that a new franchisee will be expected to make to the company in order for them to have access to the license to operate under the company’s brand. The initial franchise fee is non-refundable and can be renewed after an agreed term. The GNC Live Well franchise fee is $40,000.
An additional ongoing royalty fee of about 6% and an ad royalty fee of about 2% of the monthly gross revenue of the franchise unit are also payable to the company.
HOW MUCH DOES A GNC LIVE WELL FRANCHISE MAKE
The average income that a GNC Live Well franchise owner will make will depend on a number of factors. As it is with most businesses, there is no guarantee of outright success or earnings. The company, however, gives their franchisees a benefit of tapping into a business that has a concept that has been refined over the many years of experience they have.
GNC Live Well franchise has financing options available to franchisees who are able to meet the terms and conditions of the funding. This is however available in some selected locations.
Franchisees may be entitled to a protected territory
Every new franchisee with the company is entitled to an intensive training program. The training is divided into 3 phases and franchisees are mandated to complete all the phases before being certified as a full franchisee with the company
Phase 1: once a new store has been awarded to the franchisee, training will be held at a designated GNC Live Well Store for one week
Phase 2: Another one week of classroom training will be held at the company’s head office in Pittsburgh.
Phase 3: GNC Live Well field representative will be assigned to the franchisee in the first week of operation to guide and oversee the activities of the new franchise unit.
HOW TO OPEN A GNC LIVE WELL FRANCHISE
Once you have been able to get all the information you require on how to open a GNC Live Well franchise, you proceed to the company’s website and submit your application.
Once the application is received and reviewed by the company, you will be given a feedback after some few days. If you are considered for a franchise opportunity, the company will assign a franchise manager to you.
The franchise manager will work alongside his team to help you open your new GNC Live Well franchise unit.