Frozen Delight Business Plan
Frozen Delight Business Plan Business Plan INTRODUCTION The purpose of this business plan is to outline the parameters under which the principals will pursue the development, opening and operation of our new business FROZEN DELIGHT in a key location at Miami Dade College- Kendall Campus. This idea to open a Yogurt Shop was decided upon by Alexander Negrette and Milena Cruz after doing some market research on what type of business will be most successful in South Miami.
They are optimistic that such a venture would be very successful in this location because of the combination of the warm climate, relatively low competitive threat and high market demand. EXECUTIVE SUMMARY Frozen Delight will develop and operate a licensed yogurt cart at Miami Dade College. It will sell and market a variety of frozen yogurt styles and flavors with natural fruit toppings and artificial flavors and will be served in cups and cones. The yogurt will be purchased from a quality local vendor and the natural toppings will be sourced from various local suppliers to ensure freshness of fruit.
The primary customers will be MDC-Students/faculty/administrators and visitors. The cart would be located in front of the Koffee House or Cafeteria- The area population of approximately 2,000 – 3,000 people daily. As far as market research to date has shown although at the campus has some type of ice cream machine there is no frozen yogurt cart located near the location. Hence, FROZEN DELIGHT will be the first of its kind. Revenue from the shop will primarily be from the sale of frozen yogurt in different sizes and other related products that will appeal to the market.
FROZEN DELIGHT will also sell a series of hot and cold drinks to augment its primary product line of frozen yogurt. In addition, approximately 2 other persons will be hired to work on a full-time basis at the Shop since the college hours are usually from 9am-7pm (M-R) and 9am-5pm (F), except during major holidays like Christmas. However, concessions will be made to hire other part-time employees on an “as needed” basis when the occasion arises. Project costs are projected to be US$200,000 which includes equipment purchases, opening inventory and………..
. partnership agreements with potential investors. FACT SHEET Investors Contribution | Cash Invested | Business Type | Location | Size | Rent | MARKETING PLAN INDUSTRY OVERVIEW Ice Cream is more popular than yogurt in this market as yogurt; especially frozen yogurt is a relatively new phenomenon for the local consumers. In addition, the primary customers of ice-cream range from low income to upper middle class income people while for yogurt/frozen yogurt the middle to upper middle class income people are the main consumers.
Research has shown that ice cream, and by extension yogurt, is not a product that requires the customer to research the product or do price comparison but, they will try different brands.
And ice-cream is usually bought just on impulse, hence the reason why location is extremely critical. Not to mention that seasons also play a large role in the consumer’s buying decision and Florida generally has a warm climate all year round eliminating the need to worry about this factor. MARKET SIZE Globally, the ice cream market is viewed as a growth industry and is valued in the billions of dollars.
In 2005, the ice cream industry globally was worth $36. 4b and expanded by more than 1.
7%. Data has shown that 2010 sales in this industry are expected to reach $40. 6b which is an 11% increase from 2005. *Elaborate more. TARGET MARKET Currently ice cream/yogurt market is on a growth trend and the current emphasis on healthy products only makes this trend more promising for low-fat frozen yogurt served with natural toppings as it allows customers to satisfy their urges for delicious ice cream related products without compromising their diet or health concerns.
Hence FROZEN DELIGHT’S unique product format and healthy yogurt materials ensure that the enterprise can compete with the impulse and artisan ice cream segments but because of the sheer size of the take home market. (Weak) MARKETING OBJECTIVES FROZEN DELIGHT will adhere to the following marketing objectives in designing its ongoing marketing and sales strategies: 1. To bring in at least 250 people with each promotion. 2. – add PRODUCTS/SERVICES
FROZEN DELIGHT will purchase the highest quality frozen yogurt products from a local provider (Restaurant Depot).
FROZEN DELIGHT will sell and market both regular yogurts as well as low fat yogurt products. Additionally, we will have a variety of natural toppings as well as artificially flavored toppings ranging from local fruits to imported snacks that can be served as a topping. PRICING STRATEGY The following table details My Yogurt’s initial price menu although prices are subject to change dependent on suppliers and market events.
In addition, it is based on an average of the various sizes and/or portions: | UNIT PRICE ($) | UNIT PRICE IN LOCAL CURRENCY (TTD) | Yogurt Cones | $1. 50 | $9. 00 | Yogurt Cups (small) | $3.
00 | $18. 00 | Yogurt Cups (medium) | $5. 00 | $30. 00 | Yogurt Cups (large) | $8. 00 | $48.
00 | Coffee by the cup | $1. 25 | $7. 50 | PROMOTION STRATEGY FROZEN DELIGHT CAT will focus its initial marketing campaign on developing strong word of mouth advertising through a variety of initial marketing activities designed to create marketing buzz:
Grand Opening: Pending Customer Loyalty Program: Pending Random IDEA: costumers could receive 25% – 50 % discounts on their birthdays by showing their drivers license. | STRENGTHS | OPPORTUNITIES | Opportunity: Increasingly health conscious public/Strength: Naturally low fat products | Missing points: Operational Plan Salary Structure Start Up Expenses Names: Frozen Delight Healthy Delight Unique Frozen Yogurt Kendall’s Yogurt Delight MDC Frozen Yogurt MDC Yogurt Delight