Frozen yogurt shops can sell everything from smoothies to parfaits, with a plethora of toppings and flavor combinations to choose from. Specialty drinks, such as gourmet coffee or Italian sodas, may be available at a frozen yogurt shop.
Whether it’s peanut butter-flavored and coated with chocolate chips or a tangy lemon flavor dusted with coconut shavings, most people appreciate frozen yogurt as a healthier substitute or alternative to classic ice cream cones.
Frozen yogurt is a lucrative business that you can start right now and is part of the wealthy ice cream industry.
Here are 10 steps to follow for building a successful frozen yogurt business:
1. Understand the Industry
Establishments in this lucrative industry primarily prepare or serve frozen yogurt and other frozen yogurt-based items, as well as toppings. Over the five years leading up to 2016, this industry grew at a rapid pace.
It is estimated that industry revenue increased extremely quickly during the period, owing to consumers’ growing health consciousness and the emergence of tart-flavored frozen yogurt.
The frozen yogurt industry has few entry barriers. It has low entry costs and does not have stringent licensing requirements. However, potential entrants may face challenges from industry competition and market awareness.
Prospective entrepreneurs like yourself who want to get into this industry are not particularly constrained by the capital investment required to open a frozen yogurt shop.
2. Conduct Market Research and Feasibility Studies
Men, women, children of all ages, grandmas, and grandpas all enjoy frozen yogurt. Yogurt is high in protein and calcium, both of which help build bones. Yogurt is popular due to its delicious taste as well as its surprising health benefits.
Before you plan and open a frozen yogurt shop, you must first determine whether there is a demand or desire for the store in your chosen area.
Surveys must be conducted, either by going door to door or by hiring a research firm. In the area, ask a variety of people from various backgrounds, ages, and genders how they feel about frozen yogurt.
Examine the region’s income and employment statistics to determine whether or not people will be able to afford your frozen yogurt.
3. Decide Which Niche to Concentrate On
One of the most important decisions you’ll have to make when opening your frozen yogurt shop is what kind of frozen yogurt business you want to run. Self-serve or full-service frozen yogurt treats are options for your frozen yogurt business.
Investigate your local market to identify market niches that will appeal to customers, as well as menu offerings and pricing scales. You may be able to select from a variety of niches.
- Traditional frozen yogurt for sale
- Manufacturer of wholesale frozen yogurt
- Providing tart frozen yogurt
- Providing frozen yogurt smoothies for sale
- Yogurt parfaits for sale
- Selling yogurt toppings and other yogurt-related foods
- Create a yogurt-related website.
4. Decide Whether to Buy a Franchise or Start from Scratch
At this time, going the franchise route is probably a better option. Signing up with a franchise that has a well-established brand and proven systems can help a business get off to a good start. Especially with so many other frozen yogurt shops competing for customer dollars.
Furthermore, as a franchisee, you will almost certainly be assigned an exclusive franchise territory. While competition from other frozen yogurt stores may still exist, having your own territory ensures that you will not be competing with franchisees of the same brand.
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5. Know the Possible Threats and Challenges You Will Face
Frozen yogurt is an excellent substitute for ice cream, especially for those seeking healthier dessert options. To ensure that as many customers as possible are satisfied, offer a variety of flavors, toppings, and serving options, such as edible cones or paper cups.
However, before you begin this business, you should be aware of the following potential stumbling blocks:
- Choosing an appropriate niche
- Permit applications
- Purchasing inventory (this also includes choosing the best manufacturer like Roetell for glass yogurt jars wholesale purchase).
- Writing a business plan
- Industry competition
6. Discussion with an Agent
Opening a frozen yogurt business is not a cheap venture, and once you’ve entered the world of serving one of the most popular comfort foods, you must guard it. It is not only necessary but also critical, to protect your and your investors’ interests through an insurance program from Insurance Hero.
There are numerous risks out there, and insurance protects you and your company from financial liability. These insurances may include the following:
- Worker’s Compensation Insurance
- Commercial Liability Insurance Coverage
- Business interruption insurance
- All Risk Equipment Insurance
- Commercial Auto Insurance
7. Get the Necessary Professional Certification
If you want to start your own frozen yogurt business or if you’re studying marketing or information systems, you might want to get a few certifications, including retailing certification. Among these certifications are:
- Customer Service and Sales Certification (CSCS)
- Advanced Customer Service and Sales Certification (ACSSC)
- Retail Management Certification (RMC)
- certified food protection manager (CFPM)
- Master Baking Certificate Program
- Retail Business Credential (RBC)
8. Get the Necessary Legal Documents
When starting a new business, it can be difficult to determine which licenses and permits are required. Each item necessitates time, effort, and paperwork to obtain the necessary registrations.
Don’t risk your business shutting down before it even gets started, no matter how unpleasant the task.
9. Prepare a Detailed Cost Analysis
While it is undeniably true that frozen yogurt is a very profitable business with plenty of cash flow, there are some challenges that come with the territory. Your ability to deal with these challenges effectively is what makes you successful in this business.
10. Set up your business phone system
Getting a phone for your business is one of the best ways to keep your personal and professional lives separate and private. That isn’t the only advantage; it also helps you automate your business, gives it legitimacy, and makes it easier for potential customers to find and contact you.
Entrepreneurs who want to set up a business phone system can choose from a variety of services.
To run a successful frozen yogurt business, you must approach everything from the standpoint of the owner. Is your frozen yogurt delicious? Do you offer the most popular frozen yogurt flavors and rotate them frequently? Is the workforce motivated? Is the establishment clean, does it have good music, and does the customer have a fun and positive experience?
We hope that this guide will assist you in many areas where you have previously struggled!