Frozen yogurt franchise - a successful way to start
Frozen Yogurt Franchise
According to information published by the US Census Bureau, the frozen yogurt franchise industry has been – and continues to be – one of the most exciting franchise opportunities in the biz op realm.
More than 820 frozen yogurt shops exist in the US today, in the industry has annual sales that are close to $200 million. That revenue is incredible considering the fact that annual payroll figures come in at just about $46 million – and that payroll is paid out across just north of 5300 employees.
Every year, over 121 million individual frozen yogurt servings are handed out to customers and frozen yogurt sales have increased 8% in just the last year alone. Combine all of that with the fact that it costs just about $50,000 or so to establish a new frozen yogurt franchise, and you’re looking at a unique opportunity here that doesn’t exist in other franchise industries.
All the same, you’ll want to be sure that you are smart, strategic, and savvy about how you set up your new frozen yogurt shop.
Below you’ll find inside information designed to help you make these critical business decisions, giving you a frozen yogurt business plan of sorts to really help you hit the ground running.
Let’s dive right in!
Assess your market ruthlessly
Above all else – and we mean above ALL else – the market that you are thinking about establishing your new frozen yogurt machine franchise in will make or break your business success.
This is such a huge piece of the puzzle that a lot of new entrepreneurs dropped the ball on, figuring that the type of franchise, the franchise fees, the flavors of frozen yogurt, etc. will have a major impact on whether or not they are going to enjoy the kind of business success they have been hoping for.
You could have the best frozen yogurt in the world with the best prices, the best branding, and the most positive advertising on the planet – but if your local market isn’t excited about frozen yogurt, or if they do not have the cash available to pay for your frozen yogurt, the odds of you succeeding are slim to none.
Be ruthless about how you assess your market and you’ll never have to worry about wasting a unique opportunity in an area that never could have supported success in the first place.
Figure out your numbers before you dive right in
Different frozen yogurt franchise opportunities are going to involve different startup costs, different operating costs, different franchise fees, etc. and you’ll need to make sure that you understand ALL of your facts and figures before you sign on the dotted line and open up your new operation.
The 10 most popular frozen yogurt franchise options out there have startup costs that range from just about $50,000-$500,000 or more. The opportunity is definitely there, but you’ll have to make sure that you are moving forward with the right franchise partner.
That’s only going to happen when you know the details of the frozen yogurt business plan you’re looking to execute, the frozen yogurt franchise profit margin opportunities for your local area, the level of competition you’re going to face, and just how much money it’s going to take for you to close the deal on a frozen yogurt business for sale.
Marketing and advertising are everything
As we highlighted above, the market that you are establishing your new frozen yogurt operation it has the ability to make or break your success – with the marketing and advertising that you send out to this market (the message that you convey) will have a huge determining factor on your success, too.
Direct response marketing is always the best way to go when you’re looking to build up your new frozen yogurt business plan.
As a franchise operator, you’ll be provided with plenty of national and regional marketing and advertising help but you’ll also be able to pull from the branding that the main company pushes out, too.
But when it comes to getting customers in your door from your local area you can afford to sit back and let the parent company handle all the heavy lifting. You’ll want to make sure that the franchise companies you are doing business with a comfortable allowing you to run your own local advertising and marketing, bringing in new business with messages that are laser targeted to your community first and foremost.
Not all frozen yogurt companies are going to be comfortable with this kind of arrangement. It’s certainly something you’ll have to consider when you are reviewing a potential frozen yogurt business plan, and it’s definitely something you’ll have to consider before you sign on the dotted line and agree to run any frozen yogurt franchise.
These businesses can be expensive to start up and even more expensive to operate. If you don’t have full control over how you bring in new customers – or if you aren’t able to leverage marketing and advertising approaches that supplement the marketing that the parent company is doing – you’re going to be at the mercy of another operation that may or may not be able to help make your financial dreams come true.
At the end of the day, running a frozen yogurt franchise (or even a chain of frozen yogurt franchises) can provide you with the kind of entrepreneurial opportunity you have been looking for.
In the US today, frozen yogurt is preferred over ice cream, gelato, and snow cones (78.9% to 8.8%, 10.9% and 1.5%, respectively). This gives you a unique opportunity to capitalize on a growing trend that isn’t showing any signs of slowing down anytime soon.
As long as you pay close attention to the inside information that we highlighted above, really review your options as far as frozen yogurt franchise opportunities are concerned, and nail your market research, your competitive research, and your marketing and advertising strategies you shouldn’t have anything to worry about.
These frozen treats can help you create the kind of financial future that most people only dream of. It doesn’t get much better than that!
Want to make your startup journey smooth? YS Education brings a comprehensive Funding Course, where you also get a chance to pitch your business plan to top investors. Click here to know more.