Starting a Vitamin Store?

[bigdfk]

Hi Guys,

I have recently tossed around the idea of opening a vitamin / supplement store and am starting to get more serious. I've come here on the off chance that someone has experience in this industry and is willing to offer me some advice.

I initially was looking at the GNC franchise because on paper it looks attractive but I am not sure if I can really get behind GNC and I am not 100% on their terms... obviously the terms are in their best interests, not mine. I was thinking, that it might take more effort to open my own store, but it would allow me total control over everything - from what I carry to how I run my business to what toilet paper I put in the bathroom. I feel like given my location and the track record of retail outfits like GNC, with the right planning and leadership it will be very hard to fail.

Obviously this is a significant undertaking, but I am young and am willing to put my entire life into this if thats what it takes. I am trying to put together some sort of budget so I can get an idea of the costs associated with establishing a store like this. I am looking at location, retail space, distributors, cost of getting my retail space ready for operation, etc. I understand that on average it costs $150,000 to establish a GNC (with 40k in inventory) so my ballpark guess is I can put a nice store together for $100,000, if not less... naturally I need more then a ballpark, I need to track down all the costs and develop a business plan.

So if anyone has any ideas or advice, I'd love to hear it - either here or via PM. Thanks

 

[natabolic]

Hey bro.
I think thats a great idea.
Personally, I'd create my own store, and come with your own name, not just to keep costs low, but because theres already enough GNCs around .
Look around your area, and keep your prices around 5-15% lower than the local competition. Maybe even have a website, that lists your location, prices, etc, but also allows you to make online purchases. Just some ideas.
Maybe even get your OWN line of supplements. Like decent supplements.

 

[muscle_4you]

GOOD LUCK 2 YOU !!

Hi Guys,

I have recently tossed around the idea of opening a vitamin / supplement store and am starting to get more serious. I've come here on the off chance that someone has experience in this industry and is willing to offer me some advice.

I initially was looking at the GNC franchise because on paper it looks attractive but I am not sure if I can really get behind GNC and I am not 100% on their terms... obviously the terms are in their best interests, not mine. I was thinking, that it might take more effort to open my own store, but it would allow me total control over everything - from what I carry to how I run my business to what toilet paper I put in the bathroom. I feel like given my location and the track record of retail outfits like GNC, with the right planning and leadership it will be very hard to fail.

Obviously this is a significant undertaking, but I am young and am willing to put my entire life into this if thats what it takes. I am trying to put together some sort of budget so I can get an idea of the costs associated with establishing a store like this. I am looking at location, retail space, distributors, cost of getting my retail space ready for operation, etc. I understand that on average it costs $150,000 to establish a GNC (with 40k in inventory) so my ballpark guess is I can put a nice store together for $100,000, if not less... naturally I need more then a ballpark, I need to track down all the costs and develop a business plan.

So if anyone has any ideas or advice, I'd love to hear it - either here or via PM. Thanks

I MY SELF BEEN THINKING ON MY OWN SUPP OR SMALL GYM, I JUST DONT HAVE THE BALLS TO QUIT MY FULL TIME JOB!!
ONCE I WERE SELF EMPLOYED RUNNING MY OWN CONSTUCTION BUSINESS AND IT WAS GOOD, JUST GOT FUCKED WITH BAD PARTNER SHIPS!!
GO FOR IT!! BRO..

 

[bigdfk]

Thanks guys... I will be graduating college soon and I figure, now is the time to get into a business like this, because when I have a mortgage to pay and mouths to feed, I may not be able to afford the risks of starting up a small business.

So thanks for the kind thoughts.

 

[natabolic]

Thanks guys... I will be graduating college soon and I figure, now is the time to get into a business like this, because when I have a mortgage to pay and mouths to feed, I may not be able to afford the risks of starting up a small business.

So thanks for the kind thoughts.

Good Luck bro.
Let me know if I can do anything for you

 

[irish_sd]

there used to be a consultant on the internet who would help you set up your store, get contracts, all that. I can't seem to find the website, but he worked out of San Luis Obisbo and would use Chuck Liddell in his ads. Anyway, location is key. Best is right next to a busy gym. I mean, right next to that gym! Like a 24 hour Fitness/ LA Fitness type facility. People and employees from the gym will keep you in money as they get there daily protein bars and drinks.

 

[tomuchgear]

i think natabolic suggested the internet idea. that is the way to go. just like with any thing else any more if you want your own thing you need word of mouth. nice thing about the net there are alot of companies that sell items that gnc and such dont carry. look for up and coming supp companies for one. going after a bigger name like vpx will cost you more overhead. there are plenty of companies out there that are up and comers in the bbing industry. look into atlarge nutrition good company great products. they are gettin there name out there more and more. things like that are a key to success. also if you started a web site you could advertise on this bourd, and other bbing forums. if you need the name of a good web proggramer pm me. i know some body who does websites and such. eventualy i am going to start my own web based business. right now money is not in my favor. any way i wouldnt mess with gnc with there prices and such. i would go more for a vitamin shop in a place were there is only a gnc. there are plenty of small rural areas and such that dont have many choices so gnc makes a killing some thing to think about. any you also have to look at the fact of sites like bbing.com who by far undersell gnc. hope at least a little bit of that helps. good luck bro.

 

[Big Bapper]

I started selling supplements from my house, around March 2004. Built a large of a database of customers as possible. So when I opened my gym nearly one ago I already had allot of customers lined up. Its hard work, but with perseverance it can work if there is a market for it. Any business will work if there is a market for it.

Is there allot/ how many locations is there that sell supplements/vitamins in your area.

What I did was tried to cater for a specialised market and provied a service that could not be found were I planned to locate my business.

I also tried to learn as much from other people mastakes as possible, people who tried to start simular businnes as mine but failed.

Failure or a mastake is one step closer to success, espically in my case if I loose money. I can asure you I wont make that mastake again. If it feels right. GO FOR IT !!

 

[massive attack]

Things to look at...

Overhead is major. Big Bapper cut the overhead alot by selling his stock out of his house. I know of quite a few supplement stores that have closed due to overhead costs and then there's your price points and such.

How many bottles of vitamins and or other supplements do you need to sell to make rent, pay bills, pay salaries, etc.

One reason why GNC is still around because they were basically the first, they have alot of $$ backing them, they have I don't know how many locations, the mark up on their supplements are HUGE, they have the $$$ for marketing all over the country etc.


Just some things to think about. I have a couple of friends who attempted business' but didn't think thru fully on some of the things I just mentioned. Of course they didn't make it long after their first year.

 

[parrajm]

definitely have compounding pharmacy make you your own store brand sups. buddy of mine has a store and sells more of his stuff than you'd imagine and makes bank on it.

 

[bigbuc524]

take a look at this

http://www.dcaruso.qhealthzone.com ... i could help you have your own online business. And the products are top of the line and 100% natural.

 

[RONJON]

Yea bro Id definately want to go with opening up your own place...i do understand ur risks though...BEST OF LUCK!!!

RONJON

 

[Nexus]

there is a guy on the net names matt gaines. He helps people open up thier own supplement stores without a franchise fee and he seems to be legit and does very well. He advertises in MD every month and recently had a booth at the olympia.


www.ownasupplementstore.com