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The Health Industry's Popular Crowd: Supplement Stores
By Rachel Reed
With consumers today wanting to look and feel better, the specialty retail market for nutritional supplements is booming.As the industry leader, General Nutrition Centers, Inc. (GNC) commands a large part of the $17.4 billion in annual sales the supplement market claims. Researchers predict that profits will continue to grow as the health wave is far from ending. GNC's extensive selection of nutritional supplements finds consumers more than satisfied, while their success finds franchise owners quite prosperous.
GNC first opened in 1935 as a "health food" source. Even though health food was considered a passing fad, the store's success grew along with the growing awareness of overall health and nutrition.By the 1980s GNC was producing their own vitamin and mineral supplements and had over 1,000 locations.GNC continues to use cutting-edge technology to produce the widest selection of supplements on the market today.
When Steven Coven was considering becoming a franchise operator, the supplement industry caught his attention as being a "sleeping volcano." Steven says he "came to the realization that all we really have is our bodies," in his decision to buy a GNC franchise in the Port Authority Bus Terminal in New York City. Since his purchase, he has opened two more locations, one in Penn Station and another in the Bronx, and is a firm supporter of GNC.
Coven recognized society's emphasis on health and nutrition as a trend with tremendous staying power."Nothing matters if you don't have your health," he says.Eating well and staying in shape are key markets in the health industry with new diet and exercise fads emerging every day. The intake of proper nutrients in your diet is an important concern that is unlikely to be a passing fad.
As a GNC multi-unit franchisee, Coven is now a self-made millionaire, crediting much of his success to GNC and its franchise system. "GNC does everything. They really help you out," Coven says. "They want you to show them that you care and in return, they stand behind you one hundred percent." In addition to a strong training and support system, GNC supplies loans and financial solutions necessary to help franchisees open their new business.
Frei found similar success with a Robeks Juice franchise in Los Angeles, CA. Opening the first franchise after the parent store, Frei recalls, "We knew the area and decided to go for it. We gambled a little." Robeks has since expanded to over thirty locations throughout California and the Midwest and continues to grow.
Along with Coven, Frei predicts the ongoing popularity supplements will continue to have: "A lot of the food we produce here in this country now doesn't contain the nutrients it used to, although our bodies still need those nutrients," Frei says."We don't even get as much protein from our meats as we used to. Supplements provide the nutrients that we need but don't get enough of in our diets."
Also like Coven, Frei swears by corporate Robeks and the support they give to franchisees. They support the business owners 100 percent and their continual dedication to finding newer products contributes largely to their success. "They're constantly looking for something new. They've really drawn a niche in healthy food."
It appears that the supplement specialty market and the businesses within it are equally successful.Matt Alden, General Manager of Franchise Solutions Corp. who has witnessed the success of these companies, comments: "Franchises like GNC and Robeks have done a great job of positioning themselves not as retailers of health-related products, but as advocates for and facilitators of a healthy lifestyle. They're about long-term share of customer, which certainly helps their franchisees build a solid base of repeat customers."
With everyone trying to look and feel their best, supplements are providing natural solutions to the demands of health-conscious consumers. As Frei comments, "There's a special segment on the news for health now. Everybody wants to lose weight and look good... Supplements help you look better the natural way." As the industry booms, everyone is a winner. Consumers feel better and look better. And companies and their franchisees that are selling the right product and doing it the right way are discovering immense success.