FranchiseVerdict
The Vitamin Shoppe logo
FV-02723·STRONGExcellent100

The Vitamin Shoppe

RetailFranchising since 2021Website
Investment
$484K – $985K
88th pct Retail
Avg revenue
$1.5M
44th pct Retail
Royalty
5.0%
15th pct Retail
Units
671
92nd pct Retail
SBA default

Bottom line

  • Total investment $484K – $985K including a $40K franchise fee, 5.0% ongoing royalty.
  • Average unit revenue of $1.5M/year (median $1.4M). Estimated payback in 4.8 years.
  • Rated STRONG with a risk score of 46/100.

Item 1 · who you're contracting with

The Franchisor

Legal entity
Vitamin Shoppe Franchising, LLC
Parent company
Vitamin Shoppe Industries LLC
Incorporated in
Delaware
HQ
300 Harmon Meadow Blvd., Secaucus, New Jersey 07094
Auditor
Deloitte & Touche LLP
Audited financials
Franchisor revenue
$3.5B
vs $3.4B prior year

Yale framework · single-unit ROIC

Returns Analysis

Pulls Item 7 (investment) and Item 19 (revenue) from this brand's FDD into the Yale unlevered-ROIC formula. Override any input to stress-test it against your own assumptions.

The model · Yale framework

What would one The Vitamin Shoppe unit return on the cash you put in?

Revenue · per unit, per year
$
FDD Item 19 reports $1,477,283
Franchisor take · royalty + ad fund
Royaltytyp 68%
%
Ad fundtyp 35%
%
Operating costs · category default: retail
COGS
%
Labor
%
Rent / occupancy
%
Other operating
%
Total invested capital · what you actually put in
Initial investment
$
FDD Item 7: $484K–$985K
Working capital
$
FDD reports $51K–$139K

Unlevered ROIC · per unit

14%

Below typical band (30–60%)

0%30–60% Yale band80%

Store EBITDA · annual
$118K
EBITDA margin
8.0%
Total invested
$829K
Payback
84 mo
Unit-level only. A multi-unit portfolio gives up roughly 5–15% of this to shared services (corporate G&A) before reaching the ~10-unit break-even Yale describes.

Levered LBO scenario · Yale Crease Capital framing

What would 25 The Vitamin Shoppe units return on equity?

Edit assumptions

Equity IRR · 5-yr

49.9%

7.57× MOIC

Year-1 DSCR

1.88×

EBITDA ÷ debt service

Equity required

$295K

on $1.5M purchase

Total debt

$1.2M

SBA $0.7M + senior + seller note

Overview

About

Franchisees operate retail health supplement and vitamin stores, managing inventory, customer service, point-of-sale operations, and local marketing. Day-to-day responsibilities include staff supervision, product merchandising, compliance with franchisor protocols, and driving foot traffic in a competitive nutritional products market.

CEO
Lee A. Wright
Founded
1977
FDD year
2024
States available
10

Item 7 · what it costs

The Vitals

Total investment
$484K – $985K
All-in to open one unit
Liquid capital
$51K – $139K
Cash you must have on hand
Franchise fee
$40K
Royalty
5.0%
Net Revenue · typical 6–8%
Ad fund
2.0%
typical 3–5%
Total fee load
7.0%
vs 9–13% typical
Payback period
4.8 yrs
From v3 / Item 19

Item 19

Financial Performance

Avg gross sales
$1.5M
Per unit, per year
Median gross sales
$1.4M
Item 19 type
Average and Median Revenue and Expenses
Sample size
518 units
vs category median 52 · large
Range (low → high)
$569K$2.9M
Cohort dispersion
Transparency
10 / 5
vs category median 3 / 5 · above
Revenue rank44th
vs Retail peers
Investment cost rank88th
Lower investment ranks lower (better)
Royalty rate rank15th
Lower royalty = lower percentile (better)
Unit count rank92th
vs Retail peers
Risk score rank16th
Lower risk = lower percentile (better)

Item 20 · unit dynamics

The Growth Chart

Total units
671
Opened
11
Last reporting year
Closed
0
Turnover rate
0.0%
Company-owned
658
Corporate units in the system
% franchised
2%
vs corporate-owned
Multi-unit owners
5.3%
Net growth (yr3)
Outlier (see FDD)
Likely small-sample artifact
2022
13+11
Franchised units
2023
2
Franchised units
2024
0
Franchised units

Year-over-year franchised unit counts and net change. Source: FDD Item 20.

Item 20 · 15 states with active franchisees

The Territory Map

Derived from franchisee contact records. Shows states with at least one current operator — not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).

AK
ME
VT
NH
MA
RI
CT
NY
NJ
PA
DE
MD
DC
WA
OR
CA
NV
ID
MT
WY
UT
CO
AZ
NM
ND
SD
NE
KS
OK
TX
MN
IA
MO
AR
LA
WI
IL
MS
TN
MI
IN
KY
AL
OH
WV
GA
VA
NC
SC
FL
HI
Registered · 15 states
Not registered

States derived from franchisee phone area codes (Item 20). Approximate — ported numbers may show the original state, not the franchisee's current location.

Government records

SBA Loan Data

Aggregated from SBA 7(a) loan disclosures, public data unique to FranchiseVerdict.

No SBA loan data available for this brand.

FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17

Risk & Legal

46
Risk · 0-100
STRONG46 / 100

Rapidly expanding vitamin retail franchise with regulatory history and pending litigation creates moderate-to-high risk despite strong unit growth, warranting careful validation of franchisee profitability claims and renewal practices.

Score breakdown · what drove the 46 / 100 rating

  1. 01MINORExtreme unit growth of 550% YoY suggests either aggressive recent acquisition/rebranding or unsustainable expansion that may indicate instability
  2. 02MINORPending arbitration from MMS Group regarding breach of contract and non-renewal creates precedent risk for franchisee renewal negotiations
  3. 03MINORFTC settlement regarding reciprocal purchase agreements signals regulatory scrutiny of franchisor's business practices and potential conflicts of interest
  4. 04MINORNet income of $153,070 against $483,900-$984,900 investment yields only 15-32% annual return, below typical franchise benchmarks, with high royalty drag at 5%
  5. 05MINORNo Item 19 financial performance representations limits ability to validate claimed average revenue figures independently

Severity inferred from the FDD text · not a regulatory classification

FDD Items 5, 6, 12, 17 · continued from Risk & Legal

Contract & Territory Detail

Territory
Households
Protected territory
Yes
Initial term
10 years
Renewal term
10 years
Online sales rights
Restricted
Franchisor can compete
Yes
Hire a manager?
Allowed
Litigation count
2
Right of first refusal
Yes
Franchisor can buy back on resale
Mandatory arbitration
Yes
Jury trial waiver
Yes
Non-compete
2 yrs
Post-termination restriction
Owner-operator
Optional
Governing law
Delaware

Item 11

Training & Operations

Classroom training
19 hrs
On-the-job training
80 hrs
POS system
Computer System
Operating tech stack

Item 20

Franchisee Contacts

Phone numbers extracted directly from this brand's FDD Item 20. After purchase, you'll also receive a list of validation questions tailored to this brand.

Franchisee contacts

32 numbers

Locked
(415) 972-••••
One Sansome Street, Suite
CA
(336) 834-••••
NC
(787) 704-••••

One-time purchase · CSV download · Validation questions included

FDD download

The Vitamin Shoppe · FDD (2024) PDF

Single-page checkout · instant download · CSV export of contacts available separately above