So, you’re thinking of opening your own Frozen Yogurt Franchise Shop. The seed of a dream has been planted but now you have no clue about how to proceed. What do you need to do to get started?
The first step in this exciting new journey is to lay down your business’ parameters, give it definition. You have determined that you want a frozen yogurt business; first thing you need is a good location. Now, let me say that again:
“First and most important thing you need is a good location”
It’s a seemingly simple question you need to ask is where. Where will this business be located? In the frozen yogurt business as in almost any other this is a fundamental principle: location, location, location! Your frozen yogurt shop’s location will later on influence many aspects of your business such as the size of your store, the service you offer, the size and variety of your product line, your price points, the marketing strategies you can exploit, and so much more.
Ok, after you have determined a good location, now it’s time to get as much information about this venture as you can. Doing the research is a big part of your due diligence. This will inform the rest of your decisions as you go along the process of opening your very own shop.
If you have already read our article on “why to start a frozen yogurt shop“, and you have interest in starting a self-serve yogurt shop, then you are ready to start weighing your options. Here is what you will need for starting Frozen Yogurt Franchise Shop:
- A system that works including making yogurt and planning flavors, marketing, operation and management, merchandising, logistics, supply chain management, inventory management, training, POS, equipment, designs, permits, health dept, building plans/materials/finishes, business plan, etc…
- High quality machines
- Materials, supplies, products
- Best tasting yogurt
- Winning brand
- Management and operations
The above systems and products is part of what you would be paying for with the franchise fee, for a limited time, offering zero franchise fees for the first 20 franchisees. At the time of this writing, building out, or in the agreement phase, so this offer will be over very, very soon.
Beyond the straightforward questions is a slightly more complicated one; being that you want to start a frozen yogurt franchise shop, it begs the question, which franchise are you going with?
Unless you have decided on this from the outset you will have to sort through the options, the pros and cons on your franchise selections. This part will take into consideration your budget and capitalization plans (which franchise can you afford or how much do you spend for a franchise fee), the possible competition (other frozen yogurt franchises in the area), and the level of customization you can implement given your selected area or location—e.g. near a school and kiddie parks, you’d probably want the shop to have an ambiance that’s more family friendly and offer more flavors and toppings geared toward children; in that busy mall, near the Wal-Mart or Target, etc., the experience has shown that highlighting healthier selections with very mid to upper socioeconomic demographics might work better.
There are other frozen yogurt franchises with well-known brands, but they might not be a fit to what you envision or your budget, it may be that they have a pre-set style, store design, or brand image that’s standard for all their stores.
Answering the basic questions and defining your own frozen yogurt shop business will lead to the foundation of your business plan, a key component in any entrepreneurial venture. Your frozen yogurt shop’s business plan can help with your financing or more importantly its outline can quickly show you if you’ve missed something vital along the way. If you don’t know how to put together a business plan, there are many examples available online or better yet, some frozen yogurt franchise companies offer assistance and provide templates.
Once you’ve found the frozen yogurt franchise company you want to get into business with, you’re well on your way to starting your own shop.
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