Frozen Yogurt Business – Frozen yogurt is a refreshing treat that many choose to enjoy. Starting a frozen yogurt business can be an effective way to make money off of a popular desert treat. When choosing to get into this niche, you could select one of several paths to take. Before getting involved, it is important to understand the necessary steps and what is likely to help you make opening the shop. If you fail to handle the opening correctly, you may not make as much money as you expected.
Steps to Open Frozen Yogurt Business
Make a business plan for your frozen yogurt business. Create some financial projections so that you can estimate how profitable your yogurt business could be. Focus on what yogurt products you will offer and the concept of your business. The average frozen-dessert franchise costs slightly less than $400,000 to open, reports FRANdata. You must also decide if you want to go with a franchise or start your own store from scratch. The franchise will give you set operating procedures and standards that will take some of the guess work out of opening a frozen yogurt shop. However, you’ll pay for their service and branding and face sacrificing some business and operational independence.
Find a location for your frozen yogurt business. In most cases, you will want to find one that has a large amount of traffic near it and is easily accessible. A good bit of pedestrian traffic is necessary as well. A plaza setting may be helpful in that regard. Many frozen yogurt sales are based on impulse and people only think about getting yogurt after they see a store that offers it. In most cases, you should consider leasing a property so that you can get a prime location without having to put up as much money on the front end.
Diversify your product offerings to increase the chances of bringing in more revenue. Many successful yogurt shops branch out into other areas besides just selling yogurt. You could sell some candy, drinks and even small meals in the right circumstances. If you have more products to offer, you have a better chance of being profitable.
Get the supplies and equipment that you need to make yogurt. You will need large freezers, mixers and other items to make the yogurt. Acquire the ingredients that you need to make the yogurt. When buying your equipment and supplies, consider how they will impact the bottom line. Do not buy the most expensive equipment just because it is the best in the industry. Consider purchasing used equipment or something less expensive so that your business can be more profitable right away.
Consider using a self-serve frozen yogurt business model. By allowing the customers to serve themselves, you can cut down on the number of employees that you need. With fewer employees, you can reduce wages and benefits, which can ultimately make your business more profitable.