The Vitamin Shoppe expands its store base with franchise program
After 44 years of a corporate point of sale shareholding policy, The Vitamin Shoppe launched its very first franchise program.
The retailer will partner with business owners to operate franchise locations using a model that rewards franchisees for driving sales of VitaminShoppe.com and VShoppe apps through a commission structure.
“We offer a proven and profitable business model in a growing consumer industry, as well as an innovative, fully omnichannel franchise model that rewards our partners for growing e-commerce sales in their franchise territories.”Sharon Leite, CEO of The Vitamin Shoppe, told NutraIngredients-USA.
Leite added that a top priority is to ensure that the customer experience in company-owned franchise stores and in new stores always remains consistent. With this in mind, franchise stores were designed to be indistinguishable from the nearly 700 corporate stores of The Vitamin Shoppe.
Timing is the key
Leite told us that the pandemic has amplified the centrality of health and wellness concerns among many consumers and the growing importance they place on physical and mental well-being.
“This has resulted in a growing interest in The Vitamin Shoppe and the cutting-edge quality and expertise we offer in all of our products and services. Combined with favorable market conditions, such as the impact of the pandemic on the commercial real estate market, we believe this is the perfect time to add this element of innovative franchising to our growth strategy ”, said Leite. “Now is a particularly good time to partner with highly motivated entrepreneurs to expand our store fleet. This new growth strategy is a capital efficient way to increase our commercial footprint in a favorable real estate market, while allowing our franchise partners to create dynamic and local businesses.In addition to this, you will need to know more about it.
The Vitamin Shoppe was acquired by Liberty Tax in 2019. At the time, Pat Cozza, an independent member of the Liberty Tax Board of Directors, was emphasizing the idea of a franchise model: “We have great confidence in the value of The Vitamin Shoppe, its ongoing strategic reinvention plan and the exceptional efforts of The Vitamin Shoppe’s management team and associates. We believe The Vitamin Shoppe fits perfectly with Liberty Tax’s previously announced strategy of acquiring franchise-centric businesses, and demonstrates the commitment of Liberty Tax, its board of directors and management team to implements the previously announced strategic transformation of Liberty Tax.In addition to this, you will need to know more about it.
According to Leite, the response has been encouraging. “We have generated strong and positive interest following the announcement of our franchise. We had great engagement on our first ‘Discovery Day’ where qualified potential partners learn much more about our business and can speak directly to our management team. I encourage those interested to visit OwnAVitaminShoppe.com to explore this rewarding opportunity and to register for the next Discovery Day ”,said Leite.
From survey to ownership, the ad says the franchisee’s journey can be completed in six to eight weeks. The first franchise stores are expected to open later this year.
Franchise markets are available in 48 states. They are not available in Washington and Oregon, where The Vitamin Shoppe operates stores under the Super Supplements banner.