Vitamin Shoppe is embracing the franchising model to fuel the growth of its store fleet.
The shift marks the first time the specialty retailer is opening up ownership to franchises in its 44-year history and it comes at a time when consumers are continuing to invest in their health and wellness routines.
The franchise model’s commission structure will reward business partners for driving sales via VitaminShoppe.com and VShoppe app. From the customers’ perspective, the experience will be identical and indistinguishable from shopping at any of the more than 680 retail locations owned by The Vitamin Shoppe.
The franchise-run Vitamin Shoppe stores are expected to open later this year.
“This new growth strategy is a capital-efficient way to grow our retail footprint in a favorable real estate market, while empowering our franchise partners to create dynamic, locally-owned businesses,” said Vitamin Shoppe CEO Sharon Leite.
“With the events of the past year, consumers have become more invested in their health and well-being, as reflected in The Vitamin Shoppe’s performance. We are tapping into this industry’s strong runway for growth by partnering with franchisees who share our passion for quality, innovation, and the health of their customers and communities.”
Under the terms of the franchise partnership, Vitamin Shoppe will support franchise partners with essential aspects of their retail operations, supply chain, brand and product marketing, legal, real estate and digital integrations.
Franchise options are currently being made available in all the states except for Washington and Oregon, where the company operates under the Super Supplements banner.
Outside the U.S. market, Vitamin Shoppe has issued country license agreements to partners in Asia, Central America, and South America.