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Home > Franchises > GNC Franchising Inc.
GNC Franchising Inc.
A franchise agreement takes place when the concerned parties involved are bound together through certain contractual provisions. This is an arrangement whereby someone with an idea for a business, the franchisor, sells to another person the franchisee the rights to use the business's name, sell a product, or provide a service to someone else. A franchise agreement will usually specify the given territory the franchisee retains exclusive control over the area protection, as well as the extent to which the franchisee will be supported by the franchisor.
In 1935, David Shakarian started a health-food store in Pittsburgh called Lackzoom. It specialized in yogurt, but also carried health-food products such as honey and grains. Beginning with 35 dollars in receipts his first day, Shakarian expanded to six Pittsburgh area stores in five years. As more people became interested in natural foods and better nutrition, Shakarian opened stores in other states and changed the company’s name to General Nutrition Centers, GNC.
GNC also began producing its own vitamin and mineral supplements, foods, drinks and cosmetics. It started franchising in 1988. The company and franchise stores are throughout the United States and worldwide, GNC now focuses on vitamins and nutritional supplements.The GNC Live Well store format provides a full line of supplements plus aromatherapy, bath and spa products. GNC is the world's largest specialty retailer devoted solely to manufacturing and selling vitamins and nutritional supplements. They have nearly 5,000 company owned and franchised retail stores located in all 50 states and more than 35 foreign markets.
Franchisor is a publicly held company with 600 employees and 28 employees in franchise department. They offer vitamin and nutritional products stores service and their costs and fees includes total investment of 132000 to 182000 dollars, Due to their good service they represent in ranking according to Entrepreneur magazine 2002 to 2006. That includes Franchise 500 rank is 26 in 2006, 22 in 2005, 58 in 2004, 11 in 2003, 28 in 2002, ranked 1 in category in 2006, 2005, 2004, 2003, 2002. They are America's Top Global Franchises rank 15 in 2006, 10 in 2005 and 43 in 2004.
Today, GNC maintains its commitment to quality by rigorously testing and producing cutting-edge products at one of the biggest, most modern vitamin and supplement manufacturing facilities in the United States.
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