Wellness retailer The Vitamin Shoppe signed its first-ever franchise agreement, ushering the brand into the world of independently owned stores.
The multi-unit agreement announced July 26 will see three franchise stores open in East Austin, New Braunfels and Harlingen, Texas in the next nine months.
These locations will be a first for the 44-year-old Secaucus-based retailer, which thus far has only had corporate stores.
The Vitamin Shoppe’s inaugural franchisees are Joey and Marcy Zayas, who also own a Texas-based land development and management company. Marcy Zayas was previously a store manager of The Vitamin Shoppe location in Brownsville, Texas for more than 12 years.
“As we initiate our innovative franchising model, we are seeking entrepreneurial partners who share our deeply held brand values and who have an authentic passion for the health of their customers,” said Chief Executive Officer Sharon Leite in a prepared statement.
“Marcy and Joey fit that bill to a tee, and then some. I’m confident they will build thriving businesses that serve their Texas communities with the exceptional quality, innovation, and expertise that are the enduring hallmarks of each and every store that carries The Vitamin Shoppe banner,” Leite said. “I’m especially pleased to welcome Marcy back to The Vitamin Shoppe team, this time as an independent business owner and franchisee.”
According to the retailer’s franchising website, the top 25% of Vitamin Shoppe stores bring in $1,710,624 in revenue.
Franchisees must be able to pay a $40,000 franchise fee, have $200,000 minimum liquidity, and have a minimum net worth of $750,000.