Do you want to start a yogurt company and need to write a plan? If YES, here is a sample self serve frozen yogurt business plan template & feasibility report.
The truth is that, you can start a new business in an industry that is highly competitive and grow the business to become one of the leading brands in the industry. For instance, it is easier to find loads of people who are into retailing frozen yogurt and ice cream all across the united states.
So as an aspiring entrepreneur who is looking towards launching a frozen yogurt business, you should make sure that you carry out thorough feasibility studies and also market survey. This will enable you properly locate the business in a community or city with the right demography; a location that can readily accept your products.
A Sample Self – Serve Frozen Yogurt Business Plan Template
Table of Content
- 1. Industry Overview
- 2. Executive Summary
- 3. Our Products and Services
- 4. Our Mission and Vision Statement
- 5. Job Roles and Responsibilities
- 6. SWOT Analysis
- 7. MARKET ANALYSIS
- 8. Our Target Market
- 9. SALES AND MARKETING STRATEGY
- 10. Sales Forecast
- 11. Publicity and Advertising Strategy
- 12. Our Pricing Strategy
- 13. Startup Expenditure (Budget)
- 14. Sustainability and Expansion Strategy
1. Industry Overview
Operators in the Frozen Yogurt and Ice Cream industry include establishments that predominantly prepare or serve frozen yogurt and other frozen yogurt-based items, as well as toppings. It could either be full – service or self – service.
The Frozen Yogurt Stores and Ice Cream industry has come a long way and it is still evolving with loads of ice cream and yogurt makers bringing in creativity in terms of flavors and packaging into the industry. Ice creams and yogurts have been around for many years (since the invention of fridges and deep freezers and can be found in various flavors in all the countries of the world including Iceland and countries in the Polar Regions.
Frozen yogurts and ice creams are generally consumed by almost everybody in our planet as such, anyone who chose to establish a frozen yogurt business in any part of the world especially in tropical regions or countries in the equator is sure going to get good returns on his or her investment as long as they are doing the right thing when it comes to setting up a business and effectively running the business.
Close watcher of the Frozen Yogurt and Ice cream industry can categorically state that the industry experienced rapid growth from 2010 to 2015. Of course the growth is facilitated by consumers’ increasing health consciousness and the introduction of tart-flavored frozen yogurt. Going forward, health concerns and the expected change in consumption patterns will continue to drive industry growth from 2015 to 2021.
The Frozen Yogurt and Ice Cream industry is indeed a very large industry and pretty much thriving in all the parts of the world. Statistics has it that in the United States of America alone, there are about 361 licensed and registered frozen yogurt companies scattered all across the United States responsible for employing about 17,608 employees and the industry rakes in a whooping sum of $2 billion annually.
The industry is projected to grow at the rate of 18.2 percent annual growth between 2011 and 2016. Yogurtland, Menchie’s, Orange Leaf, Red Mango, Pinkberry and Sweet Frog have the lion share of the available market in the Cosmeceutical skincare production industry in the United States of America
It is on record that many players in the Frozen Yogurt Stores industry were able to successfully beat the economic downturn and grow strongly over the last five years, as tart frozen yogurt became one of America’s favorite frozen desserts. The tart variety of yogurt, which to some extent has sour taste similar to that of traditional Greek-style yogurts, has been popular since Pinkberry introduced the flavor into the market in 2005.
No doubt, the increasing popularity of the dessert has enabled the speedy franchise growth of well-known brands in the industry like Yogurtland, Red Mango and Menchie’s, which has made this industry one of the foodservice sector’s biggest success stories of the past decade.
The frozen yogurt and ice cream industry has remained resilient even as other food segments waned during recession period. If you are contemplating starting your own self – serve frozen yogurt business in the United States, you should ensure that you carry out a thorough market survey and feasibility studies.
States in the southern region in the United States such as Texas and Illinois et al can be ideal for a frozen yogurt business simply because of the climatic condition / weather there. If you get some key factors wrong before starting your own self – serve frozen yogurt business, then you are likely going to struggle to stay afloat.
2. Executive Summary
Food Delight® Frozen Yogurt, LLC is a leading self – serve frozen yogurt store business that will be based in Austin – Texas, USA that will be strategically located in-between a campus community and a residential estate. We are a unique self – serve frozen yogurt brand because we do not just sell different flavors of frozen yogurts et al but we will also sell our franchise and offer consultancy services in line with our area of business.
Food Delight® Frozen Yogurt, LLC is established by the awarding winning food nutritionist – Jason Javier who has B.Sc. in Food Science Technology and a Master’s Degree in Business Administration (MBA). He has a robust experience in the food and confectionaries business having worked both in the public sector and the private sector prior to starting his own business – Food Delight® Frozen Yogurt, LLC in Austin – Texas.
Because of our corporate business goal of becoming the top 10self – serve frozen yogurt store in the United States of America, we are willing to go the extra mile to invest in some of the finest professionals we can find and also we have set plans in place to acquire the best of equipment when it comes to setting up a standard frozen yogurt plant.
Our cold – rooms are customized to fit into the kind of ideas we have of how a first class self – serve frozen yogurt store business should look like. When it comes to hygiene, we have put plans, process and structures in place that will ensure that we are always at the top of game when it comes to that. We have been able to secure permits from all relevant departments in Texas.
Food Delight® Frozen Yogurt, LLC is set to redefine how self – serve frozen yogurt store business should be run, not just in Austin – Texas, but also in the whole of the United States of America. Which is why we have put plans in place for continuous training of all our staff at regular interval and also liaising with stake holder in the industry to contribute our quotas in the way frozen yogurt and ice cream making equipment should be designed and fabricated to meet the ever changing demand of the industry.
No doubt the demand for frozen yogurts and ice creams et al is not going to plummet any time soon, which is why we have put plans in place to continue to explore all available market around the cities where our self – serve frozen yogurt stores are going to be located and ensure that we create a wide range of distribution channels via franchising. With that, we know that we will be able to maximize profits in our business.
Our strongest selling point at v is the unique taste of the different flavors of frozen yogurts that we sell. There is hardly any customer that will taste any of our products who would not want to come back and make more purchase – we take delight in welcoming repeated customers over and over again.
Food Delight® Frozen Yogurt, LLC will at all times demonstrate her commitment to sustainability, both individually and as a firm, by actively participating in our communities and integrating sustainable business practices wherever possible.
We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.
Our plan is to position the business to become the leading brand in the self – serve frozen yogurt store industry in the whole of Texas, and also to be amongst the top 10 self – serve frozen yogurt brand in the United States of America within the first 10 years of starting our business.
This might look too tall a dream but we are optimistic that this will surely come to pass because we have done our research and feasibility studies and we are enthusiastic and confident that Austin – Texas is the right place to launch this type of business before spreading to other cities all across The United States.
3. Our Products and Services
At Food Delight® Frozen Yogurt, LLC we deal in all forms and flavors frozen yogurts, we are an establishments that primarily prepare, serve / sell frozen yogurt and other frozen yogurt-based items, as well as toppings.
As part our strategy to create multiple sources of income in line with our core business concept, we will run a consultancy service and trainings. Our intention of starting Food Delight® Frozen Yogurt, LLC is to make profits from the industry and we will do all that is permitted by the law in the US to achieve our aim and ambition. Here are some of our products and services;
- Selling traditional frozen yogurt
- Selling tart frozen yogurt
- Selling smoothies made from frozen yogurt
- Selling yogurt parfaits
- Selling toppings and other yogurt-related food items
- Relevant training and consultancy services
4. Our Mission and Vision Statement
- Our vision is to be amongst the top 10leading self – serve frozen yogurt companies in the United States of America before our 10th anniversary.
- Our mission is to build a self – serve frozen yogurt business that will meet the needs of all our customers and potential customers in the regions / cities where we have our outlets and to sell franchise all across the United States of America and Canada.
Our Business Structure
Food Delight® Frozen Yogurt, LLC is a business that is established with the aim of competing favorably with other leading frozen yogurt brands in the industry. This is why we will ensure that we put the right structure in place that will support the kind of growth that we have in mind while setting up the business.
We will ensure that we only hire people that are qualified, honest, hardworking, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers).
As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of five years or more depending how fast we meet our set target. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;
- Chief Executive Officer
- Plant Manager
- Food Technologist
- Information Technologist
- Human Resources and Admin Manager
- Sales and Marketing Officer
- Accountants / Cashiers
- Factory Workers
- Customer Service Executives
5. Job Roles and Responsibilities
Chief Executive Officer – CEO (Owner):
- Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
- Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for fixing prices and signing business deals
- Responsible for providing direction for the business
- Creates, communicates, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
- Responsible for signing checks and documents on behalf of the company
- Evaluates the success of the organization
Frozen Yogurt Plant Manager
- Responsible for overseeing the smooth running of the frozen yogurt production plant
- Part of the team that determines the quantity of frozen yogurt that are to be produced daily
- Maps out strategy that will lead to efficiency amongst workers in the plant
- Responsible for training, evaluation and assessment of plant workers
- Ensures that the steady flow of both raw materials to the plant and easy flow of finished products through wholesale distributors to the market
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Ensures that the plant meets the expected safety and health standard at all times.
Human Resources and Admin Manager
- Responsible for overseeing the smooth running of HR and administrative tasks for the organization
- Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
- Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
- Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
- Enhances department and organization reputation by accepting ownership for accomplishing new and different requests; exploring opportunities to add value to job accomplishments.
- Defining job positions for recruitment and managing interviewing process
- Carries out staff induction for new team members
- Responsible for training, evaluation and assessment of employees
- Responsible for arranging travel, meetings and appointments
- Oversees the smooth running of the daily office activities.
Accountant / Cashier
- Responsible for preparing financial reports, budgets, and financial statements for the organization
- Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
- Responsible for financial forecasting and risks analysis.
- Performs cash management, general ledger accounting, and financial reporting
- Responsible for developing and managing financial systems and policies
- Responsible for administering payrolls
- Ensures compliance with taxation legislation
- Handles all financial transactions for the organization
- Serves as internal auditor for the organization
- Responsible for the production of all the flavors of yogurts produced by the company
- Ensures that the organization follows due process as it applies to the nature of business we are into
- Serve as the quality assurance officer of the organization
- Manages the organization frozen yogurt vending machine network and website
- Handles ecommerce aspect of the business
- Responsible for installing and maintenance of vending machines, computer software and hardware for the organization
- Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
- Manages the organization’s CCTV
- Handles any other technological and IT related duties.
Sales and Marketing Manager
- Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
- Model demographic information and analyze the volumes of transactional data generated by customer purchases
- Identify, prioritize, and reach out to new partners, and business opportunities et al
- Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
- Develop, execute and evaluate new plans for expanding increase sales
- Document all customer contact and information
- Represent the company in strategic meetings
- Help increase sales and growth for the company
- Responsible for carrying out all casual or unskilled jobs in the frozen yogurt plants
- Responsible for operating yogurt sealing and packaging machines
- Handles any other dusty as assigned by the plant manager
Client Service Executive
- Welcomes guests and clients by greeting them in person or on the telephone; answering or directing inquiries.
- Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
- Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
- Manages administrative duties assigned by the manager in an effective and timely manner
- Consistently stays abreast of any new information on the company’s products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients
- Receives parcels / documents for the company
- Distribute mails in the organization
- Handles any other duties as assigned by the line manager
6. SWOT Analysis
Because of our drive for excellence when it comes to running self – serve frozen yogurt stores business, we were able to engage some of the finest business consultants in Austin – Texas to look through our business concept and together we were able to critically examine the prospect of the business and to access ourselves to be sure we have what it takes to run a standard self – serve frozen yogurt company that can compete favorably in the frozen yogurt stores industry.
In view of that, we were able to take stock of our strengths, our weakness, our opportunities and also the threats that we are likely going to be exposed to in Austin – Texas and even in the United States of America as a whole. Here is a of what we got from the critically conducted SWOT Analysis for Food Delight® Frozen Yogurt, LLC;
Our strength lies in the fact that we have a wide range of frozen yogurt flavors that can meet the needs of a wide range of customers on a self – serve platform. We have state of the art facility and equipment that has positioned us to meet the demand of products even if the demand tripled over night or if we have a massive order to meet and emergency need.
Another factor that counts to our advantage is the background of our Chief Executive Office; he has a robust experience in the industry and also a pretty good academic qualification to match the experience acquired which has placed him amongst the top flight professionals in the United States of America. We are not ignoring the fact that offering consultancy services and running a standard and accredited training center is definitely going to count as a positive for us.
The fact that we are setting up a self – serve frozen yogurt business in a city with other frozen yogurt plants might likely pose a challenge for us in breaking into the already saturated market in Austin – Texas. In essence our chosen location might be our weakness. But never the less, we have plans to launch out with a big bang. We know with that, we will be able to create a positive impression and we have a proper handle when it comes to building on already gather momentum.
The opportunities available to us are unlimited. Loads of people consume frozen yogurts on a daily basis and all what we are going to do to push our products to them is already perfected. There are also loads of people who would want to learn how to produce frozen yogurt and they will readily find our government approved frozen yogurt and ice cream highly ideal for them to fulfill that goal.
The threat that is likely going to confront us is the fact that we are competing with already established frozen yogurt stores in Austin – Texas and also there are other entrepreneurs who are likely going to launch similar business within the location of our business.
Of course, they will compete with us in winning over the available market. Another threat that we are likely going to face, is unfavorable government policies and of course economic downturn. Usually economic downturn affects purchasing / spending powers.
7. MARKET ANALYSIS
- Market Trends
When it comes to frozen yogurt and ice cream et al, everyone will quite agree that the market trend changes from time to time. Frozen yogurt stores are seriously researching and creating flavors and varieties that will keep them afloat in business.
Any frozen yogurt store owner who wants to remain relevant in the scheme of things in the industry must be willing to explore the ‘frozen yogurt world’; he or she must be able to come up with a product that taste unique from what is available in the market.
Another trend is that some frozen yogurt stores have gone beyond only selling their products in their stores to taking it out to people in parks, sport centers and public places through vans and mobile food trucks. Some frozen yogurt stores have even gone ahead to start retailing their products to the public through vending machines (self – serve platform); it is one of the strategies that is helping them gain a huge market share.
8. Our Target Market
When it comes to frozen yogurt, there is indeed a wide range of available customers. In essence, our target market can’t be restricted to just a group of people, but all those who love frozen yogurts and those who would want to try it out.
In view of that, we have conducted our market research and we have ideas of what our target market would be expecting from us. We are in business to engage to retail a wide range of frozen yogurt flavors via self – serve model to the following groups of people;
- Corporate Executives
- Government Officials
- Business People
- Military Men and Women
- Sports Men and Women
- Everyone who resides in our target locations.
Our aim of starting a self – serve frozen yogurt store business is to build a business that can grow within the first 10 years of establishing the business to be listed amongst the top 3 frozen yogurt stores in the United States of America. With that in mind, we have been able to come up with competitive strategies that will help us compete favorably in the industry.
Our location, the Business model we will be operating on (self – serve model), varieties of payment options, wide range of flavors and our excellent customer service culture will definitely count as a competitive advantage for Food Delight® Frozen Yogurt, LLC.
So also our management team members are people who have what it takes to grow a business from start – up to profitability with a record time. We are going to be one of the very few frozen yogurt stores in Austin – Texas with vending machines in various locations in the city.
Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups self – serve frozen yogurt stores) in the industry, meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives. We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.
9. SALES AND MARKETING STRATEGY
- Sources of Income
Food Delight® Frozen Yogurt, LLC is established with the aim of maximizing profits in the frozen yogurt stores industry in the United States of America and we are going to go all the way to ensure that we do all it takes to sell a wide range of frozen yogurt flavors to a wide range of customers.
Food Delight® Frozen Yogurt, LLC will generate income by selling the following products;
- Selling traditional frozen yogurt
- Selling tart frozen yogurt
- Selling smoothies made from frozen yogurt
- Selling yogurt parfaits
- Selling toppings and other yogurt-related food items
- Consultancy Services
10. Sales Forecast
It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field.
One thing is common with self – serve frozen yogurt business, the larger the varieties of flavor of frozen yogurt you produce, the larger the numbers of customers that will patronize them. Although we may not be as large as the biggest frozen yogurt store in the United States, but we will ensure that within our capacity we make available a wide range of flavors of frozen yogurt in our self – serve frozen yogurt store.
We are well positioned to take on the available market in Austin – Texas and we are quite optimistic that we will meet our set target of generating enough income / profits from the first six month of operations and grow the business and our clientele base.
We have been able to critically examine the frozen yogurt stores industry and we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Austin – Texas.
Below are the sales projections for Food Delight® Frozen Yogurt, LLC, it is based on the location of our business and other factors as it relates to wine store start – ups in the United States;
- First Fiscal Year-: $120,000
- Second Fiscal Year-: $350,000
- Third Fiscal Year-: $750,000
N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor offering same products and customer care services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.
- Marketing Strategy and Sales Strategy
Before choosing a location to launch Food Delight® Frozen Yogurt, LLC and also the kind of frozen yogurt flavors to produce, we conduct a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market in the cities where we intend positioning our business.
We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time and also for our products to favorable compete with other leading frozen yogurt brands in Austin – Texas and the whole of the United States of America.
We hired experts who have good understanding of the frozen yogurt stores industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Austin – Texas and throughout the United States of America.
In other to continue to be in business and grow, we must continue to sell our products to the available market which is why we will go all out to empower or sales and marketing team to deliver our corporate sales goals. In summary, Food Delight® Frozen Yogurt, LLC will adopt the following sales and marketing approach to sell our wide range of frozen yogurt flavors;
- Introduce our self – serve frozen yogurt brand by sending introductory letters to residence, merchants and other stakeholders both in Austin – Texas and in other cities in the United States of America
- Open our frozen yogurt plant with a party so as to capture the attention of residence who are our first targets
- Engage in road show in targeted communities from time to time to sell our products
- Advertise our products in community based newspapers, local TV and radio stations
- List our business and products on yellow pages’ ads (local directories)
- Leverage on the internet to promote our frozen yogurt brands
- Engage in direct marketing and sales
- Encourage the use of Word of mouth marketing (referrals)
11. Publicity and Advertising Strategy
Despite the fact that our frozen yogurt plant and self – serve stands (vending machine) are of great standard with a wide range of flavors and products that can favorably compete with other leading brands in the United States, we will still go ahead to intensify publicity for all our products and brand. We are going to explore all available means to promote Food Delight® Frozen Yogurt, LLC.
Food Delight® Frozen Yogurt, LLC has a long term plan of opening outlets in various locations all around the United States of America and also to sell our franchise which is why we will deliberately build our brand to be well accepted in Austin – Texas before venturing out to other cities in the United States of America.
As a matter of fact, our publicity and advertising strategy is not solely for selling our products but to also effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Food Delight® Frozen Yogurt, LLC;
- Place adverts on both print (community based newspapers and magazines) and electronic media platforms
- Sponsor relevant community programs
- Leverage on the internet and social media platforms like; Instagram, Facebook, twitter, et al to promote our brand
- Install our Bill Boards on strategic locations all around major cities in the United States of America
- Engage in road show from time to time in targeted communities
- Distribute our fliers and handbills in target areas
- Position our Flexi Banners at strategic positions in the location where we intend getting customers to start patronizing our products.
- Ensure that all our staff members wear our customized clothes, and all our official cars and distribution vans are customized and well branded.
12. Our Pricing Strategy
When it comes to pricing for products such as frozen yogurts, there are no hard and fast rules, the prices depend on the size and packaging. Generally, the prize for frozen yogurts and similar products like ice cream and confectioneries are affordable hence there is no need to employ any detailed strategies when it comes to pricing.
In view of that, our prices will conform to what is obtainable in the industry but will ensure that within the first 6 to 12 months our products are sold a little bit below the average prices of various frozen yogurt brands in the United States of America. We have put in place business strategies that will help us run on low profits for a period of 6 months; it is a way of encouraging people to buy into our brands.
- Payment Options
The payment policy adopted by Food Delight® Frozen Yogurt, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.
Here are the payment options that Food Delight® Frozen Yogurt, LLC will make available to her clients;
- Payment via bank transfer
- Payment with cash
- Payment via credit cards / Point of Sale Machines (POS Machines)
- Payment via online bank transfer
- Payment via check
- Payment via mobile money transfer
- Payment via bank draft
In view of the above, we have chosen banking platforms that will enable our client make payment for farm produces purchase without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our frozen yogurts.
13. Startup Expenditure (Budget)
When it comes to starting a standard frozen yogurt plant / cold – room, one is expected to spend the bulk of the start – up capital on building the plant / cold – room and also installing frozen yogurt vending machines in strategic locations.
Aside from that, you are not expected to spend much except for purchasing distribution vans, paying of your employees and utility bills. This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business. This is the key areas where we will spend our start – up capital;
- The Total Fee for Registering the Business in the United States of America – $750.
- Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $1,300.
- Marketing promotion expenses for the grand opening of Pleasant Taste Frozen Yogurt Stores® in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of – $3,580.
- The cost for hiring Business Consultant – $2,500.
- The cost for insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
- The cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $105,600.
- The cost for construction of a standard cold – room – $100,000.
- Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
- Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
- The cost for start-up inventory (raw materials and packaging materials et al) – $80,000
- Storage hardware (bins, rack, shelves, food case) – $3,720
- The cost for counter area equipment (counter top, sink, ice machine, etc.) – $9,500
- The cost for yogurt making equipment / machine – $20,000
- The cost for store equipment (cash register, security, ventilation, signage) – $13,750
- The cost of purchase of distribution vans – $50,000
- The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al) – $4,000.
- The cost of Launching a Website – $600
- The cost for our opening party – $10,000
- Miscellaneous – $10,000
We would need an estimate of $300,000 to successfully set up our self- serve frozen yogurt business in Austin – Texas. Please note that this amount includes the salaries of all the staff for the first 3 month of operation.
Generating Funds / Startup Capital for Food Delight® Frozen Yogurt, LLC
Food Delight® Frozen Yogurt, LLC is a family business that is owned and financed by Jason Javier and his immediate family members. We do not intend to welcome any external business partners, which is why we have decided to restrict the sourcing of the start – up capital to 3 major sources.
These are the areas we intend generating our start – up capital;
- Generate part of the start – up capital from personal savings and sell of stocks
- Source for soft loans from family members and friends
- Apply for loan from my Bank
N.B: We have been able to generate about $100,000 (Personal savings $80,000 and soft loan from family members $20,000) and we are at the final stages of obtaining a loan facility of $200,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.
14. Sustainability and Expansion Strategy
The future of any business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.
One of our major goals of starting Food Delight® Frozen Yogurt, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running. We know that one of the ways of gaining approval and winning customers over is to retail our frozen yogurt a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.
Food Delight® Frozen Yogurt, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.
As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.
Check List / Milestone
- Business Name Availability Check: Completed
- Business Registration: Completed
- Opening of Corporate Bank Accounts: Completed
- Securing Point of Sales (POS) Machines: Completed
- Opening Mobile Money Accounts: Completed
- Opening Online Payment Platforms: Completed
- Application and Obtaining Tax Payer’s ID: In Progress
- Application for business license and permit: Completed
- Purchase of Insurance for the Business: Completed
- Leasing of facility and construction of standard cold – room: In Progress
- Conducting Feasibility Studies: Completed
- Generating capital from family members: Completed
- Applications for Loan from the bank: In Progress
- Writing of Business Plan: Completed
- Drafting of Employee’s Handbook: Completed
- Drafting of Contract Documents and other relevant Legal Documents: In Progress
- Design of The Company’s Logo: Completed
- Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
- Recruitment of employees: In Progress
- Purchase of the Needed furniture, racks, shelves, computers,electronic appliances, office appliances and CCTV: In progress
- Creating Official Website for the Company: In Progress
- Creating Awareness for the business both online and around the community: In Progress
- Health and Safety and Fire Safety Arrangement (License): Secured
- Opening party / launching party planning: In Progress
- Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress
- Purchase of delivery vans: Completed