GNC Franchisees Endorse Settlement <b></b>

Pittsburgh-General Nutrition Companies Inc. todayannounced that more than 75 percent of its franchise operators haveaccepted the previously announced proposed settlement of threelawsuits seeking class action status for all of GNC's U.S.franchisees. The settlement was scheduled for final approval infederal court in Pittsburgh.

Mike Meyers, president and COO of GNC, said, "We are verypleased that the great majority of GNC franchisees have endorsedthis settlement. This is just one step in an ongoing and focusedplan to provide our franchisees with tangible businessimprovements. The franchising system is critical to the growth ofthe GNC brand, and we are committed to working with franchisees toincrease year-over-year sales and improve margins in what continuesto be a challenging retailing environment."

Under the terms of the settlement, GNC is committed to providingparticipating franchisees with, among other things, a total ofapproximately $2.7 million in wholesale credits on purchases of thecompany's private label products over the period of 24 months.-Miller DeMartine Group

Editor's Pick


Limited-Time Price Drop: Dual-Camera Drones for $110

Get an Alpha Z Pro 4K and Flying Fox drone bundle before supply runs out.

Business News

Opening a New McDonald's Franchise Will Be More Expensive in 2024

Starting January 1, franchise royalty fees will rise from 4% to 5% for new locations in the U.S. and Canada.


Employers: The Burden of Going Back Into The Office Is Not as Bad as You Think — It's Worse.

Leaders falsely perceive employee wellbeing to be already high and believe the burden of going to the office will be not that bad in this broader context. This disconnect between perception and reality is what I call the "Wellbeing Paradox."

Money & Finance

Want to Become a Millionaire? Follow Warren Buffett's 4 Rules.

Too many entrepreneurs are counting too heavily on a company exit for their eventual 'win.' Do this instead.


How to Master Decision-Making in a World Full of Options

Use these seven practical strategies to make more effective business choices.

Starting a Business

16 Accelerators Designed to Fast-Track Small Business Founder Success

If you want to start up, level up, or scale up, look into these accelerator programs being offered by the big businesses on our Champions of Small Business list.