The Vitamin Shoppe® Opens First New Franchise Location in Valparaiso, Indiana as Part of Key Retail Expansion Strategy that has Signed 58 Franchise Territories to Date

Rhea-AI Summary

The Vitamin Shoppe has opened its first new franchise location in Valparaiso, Indiana, marking a significant milestone in its 46-year history. The store opened on February 2, 2023, as part of an expansion strategy that aims to launch at least 12 franchise stores in 2023. To date, 58 franchise territories with 15 partners have been signed. The company was recently recognized in Entrepreneur Magazine's Franchise 500 for its strong performance in unit growth and brand strength. The Vitamin Shoppe is committed to leveraging franchising as a growth engine, enhancing its position in the health and wellness market.

Positive

• Opened first franchise location in Valparaiso, Indiana, on February 2, 2023.
• Plans to open at least 12 new franchise stores in 2023.
• Signed 58 franchise territories with 15 partners, indicating strong franchise interest.
• Recognized as a top franchise opportunity in 2023 by Entrepreneur Magazine's Franchise 500.
• Positioned for growth in the health and wellness market through franchising.

Negative

• None.

Named as a top franchise opportunity in 2023 by Entrepreneur Magazine's Franchise 500®, The Vitamin Shoppe plans to open at least 12 new U.S. franchise stores this year with local partners

SECAUCUS, N.J., Feb. 6, 2023 /PRNewswire/ -- The Vitamin Shoppe, an omnichannel specialty retailer of nutritional products, today announced the opening of its first-ever, new franchise location, located in Valparaiso, Indiana. The store launched with a grand opening celebration on February 2, attended by senior company executives and franchise owners, Rick and Rochelle Cantrell.

The new store marks a key milestone in an expanding franchise program, the first of its kind in The Vitamin Shoppe's 46-year history, which will grow the brand into numerous new markets around the United States. To date, the company has signed 58 franchise territories to 15 franchise partners, with 12 or more stores planned to open in 2023, in addition to Valparaiso.

The next new franchise store, scheduled to open later this spring, is located in the Tempe Marketplace shopping center in Tempe, Arizona. Another store will open in New Braunfels, Texas later this year, with additional store leases in signed franchise territories to be announced in the coming months. Previously, an existing location of The Vitamin Shoppe in Greensboro, North Carolina, was converted into a franchise unit in January 2022.

Laura Coffey, Chief Financial Officer of The Vitamin Shoppe, commented: "The Vitamin Shoppe is thrilled to officially open our first new franchise location in Valparaiso with our exceptional partners, Rochelle and Rick Cantrell. They are longtime customers of The Vitamin Shoppe who have taken their personal passion for wellness and applied it to building a dynamic, local business that will support the health and well-being of their own community. This store is the first of many to open in the coming months and years, as franchising becomes a significant retail growth engine for The Vitamin Shoppe, building upon our industry-leading position in the flourishing health and wellness space."

Last month, The Vitamin Shoppe was recognized as one of the top 500 franchises in Entrepreneur magazine's Franchise 500®, the industry's most comprehensive franchise ranking. The 44th annual Entrepreneur Franchise 500® is a highly sought-after honor in the franchise industry. Recognized as an invaluable resource for potential franchisees, the 2023 Franchise 500® includes The Vitamin Shoppe for its outstanding performance in areas including unit growth, financial strength and stability, and brand power.

"The past year underscores the extraordinary opportunities that the franchise industry presents for entrepreneurs of all levels. The companies named to our 44th annual Franchise 500 list represent some of the most innovative, creative, and trusted brands across many industries and highlight what it takes to build the kind of momentum that drives long-lasting success," said Entrepreneur editor-in-chief Jason Feifer.

Additionally, in October 2022, The Vitamin Shoppe broke into the Top 100 of Franchise Times' listing of the Top 500 U.S.-based franchise systems.

Franchise partners have the opportunity to leverage the trusted quality of The Vitamin Shoppe brand and its unparalleled expertise in the fast-growing health and wellness sector. Since its founding in 1977, The Vitamin Shoppe has grown into the premiere global destination for health and wellness solutions, supporting millions of customers annually on their journeys of lifelong wellness. The Vitamin Shoppe offers the largest assortment of vitamin, supplement, and sports nutrition products at retail in the U.S., including national brands and an expanding portfolio of proprietary brands, including The Vitamin Shoppe®, Vthrive The Vitamin Shoppe™, BodyTech®, BodyTech® Elite, fitfactor™, fitfactor KETO™, plnt®, ProBioCare®, True Athlete® and TrueYou™.

Located at 1805 E. Lincolnway, the new Valparaiso store makes this extensive assortment of health and wellness solutions easily accessible to the local community. The store's team of highly knowledgeable Health Enthusiast associates can provide expert guidance on the right products for each customer's individual wellness goals. Customers can also take advantage of services like same-day Instacart delivery; online pickup in-store; curbside pickup; mobile checkout in-store; free, virtual one-on-one nutritionist appointments; and The Vitamin Shoppe's Healthy Awards loyalty program for easy cash-back awards.

"We are loyal customers of The Vitamin Shoppe and with them now offering a franchise opportunity, we are excited to be able to open our own store," said Rochelle Cantrell. "The Vitamin Shoppe will be our first business venture together as a couple and we can't wait to share our passion and provide great health and wellness solutions to our hometown."

Potential franchise partners can visit www.OwnAVitaminShoppe.com to start the discovery and application process, including financial disclosures and requirements.

About The Vitamin Shoppe®

Lifelong Wellness Starts Here™. The Vitamin Shoppe®, a subsidiary of Franchise Group Inc. (NASDAQ: FRG), is a global, omnichannel specialty retailer and wellness lifestyle Company with the mission of providing customers with the most trusted products, guidance, and services to support them on their journeys of lifelong wellness. Based in Secaucus, New Jersey, the Company offers a comprehensive assortment of nutritional solutions, including vitamins, minerals, sports nutrition, specialty supplements, herbs, homeopathic remedies, green living products, and natural beauty products. In addition to carrying products from approximately 700 national brands, The Vitamin Shoppe offers products from its proprietary brands within its owned and wholesale channels, including: The Vitamin Shoppe^®, Vthrive The Vitamin Shoppe™, BodyTech^®, BodyTech^® Elite, fitfactor™, fitfactor KETO™, plnt^®, ProBioCare^®, True Athlete^®, and TrueYou™. In the U.S., the Company conducts business through over 700 company-operated retail stores under The Vitamin Shoppe and Super Supplements™ banners, and via its website, www.vitaminshoppe.com. The company is expanding its retail footprint via an innovative, omnichannel franchising model and opened its first franchise store in 2022. Globally, The Vitamin Shoppe serves customers in select Asia, South America, and Central America markets through local omnichannel partners.

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SOURCE The Vitamin Shoppe

FAQ

When did The Vitamin Shoppe open its first new franchise location?

The Vitamin Shoppe opened its first new franchise location on February 2, 2023.

How many franchise stores does The Vitamin Shoppe plan to open in 2023?

The Vitamin Shoppe plans to open at least 12 franchise stores in 2023.

Which franchise opportunity ranking included The Vitamin Shoppe in 2023?

The Vitamin Shoppe was recognized in Entrepreneur Magazine's Franchise 500 in 2023.

How many franchise territories has The Vitamin Shoppe signed to date?

The Vitamin Shoppe has signed 58 franchise territories to date.

What markets is The Vitamin Shoppe expanding into?

The Vitamin Shoppe is expanding into numerous new markets across the United States.