Friday, February 24, 2012
GNC franchise
The franchise I chose is GNC. “GNC is the largest global specialty retailer of health and wellness products.” I chose GNC for many reasons, GNC is a company that I have used for many years they also have a reputation of being the best. When a company has already established a name with a good backing its hard to turn down an investment opportunity. Ever since I started working out I have always been interested in nutrition and staying in good health. GNC is a company thats costumer base ranges from teens to the very elderly. This alone will help the company survive because of its widespread target market. For me to open a GNC it would require a capital Invest of $85,000 - $100,000. Also the overall investment would be $100,001 - $200,000. Looking at the company as whole, the supplement industry is a 27 billion dollar industry. GNC is also ranked as the number one vitamin franchise. Since GNC is such a well known company you would not have to spend a lot on marketing and promoting because it is already proven itself as a leader. Things I would have to focus on would be hiring a team that si well educated and providing good quality supplements as low prices so costumers want to come back. From personal experience when I walk into GNC I get a clean healthy feeling. Anytime I am in need of assistance they are always there to help and very knowledgeable. These show me the keys to a successful business and leave me no concerns of wanted to own a GNC franchise.
The search for the franchise provided a lot of information and facts. All of the question in figure 5.8 I was able to answer. Also there was a lot that I could not seem to find or didn't have to tools to answer. The page provided did not have a link for alternate information. Though I took upon myself to go to GNC franchise page where there was most of the same information as well as some more information on places to open the franchise. Overall if actually opening a franchise I think GNC is a extremely profitable franchise because of its reputation.
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Before reading this blog I had no idea that GNC even existed. I knew that the name logo looked familiar but I could not figure out why I could not put a product to the Name. Alas looking at the picture that the blog had made me realize that I knew what GNC was. Therefore, I agree with Kyle when he says that GNC is "very well-known company you would not have to spend a lot on marketing and promoting because it is already proven itself as a leader". GNC is a great franchise business to blog about I think I learned a lot reading Kyle’s blog. Also, I agree with his aspect of thinking. I think that he is very smart in putting his facts together and I like the way he suggests that GNC’s reputation makes it a better franchise to make. It was very well put.
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