Here are three vital keys to starting a frozen yogurt business on your own:
1. Business understanding and experience. If you don’t have these skills find a partner or advisor who does.
- Basic money management skills (payables and receivables).
- Inventory management.
- Attention to detail.
- People management skills.
2. Find great suppliers. Great suppliers should be more like partners with you. They can give you advice and help solve your problems. You’ll need suppliers for:
- Frozen yogurt mix and flavorings – give us a call – we know a great company : )
- Soft-serve machines.
- Supplier, including cups and spoons.
- Other equipment (Point of Sale system, sinks, refrigerator/freezer, toppings bar, tables, chairs, toppings containers, etc.).
3. Effectively market your frozen yogurt business. The elements of effective marketing include:
- A great location.
- In-store marketing and great customer service to drive repeat customers.
- Advertising or other marketing that makes sense in your area (local newspaper or magazine, flyers at events, coupons, mailers, etc.).
- Online and social media presence.
- Word of mouth. Eventually this will be one of your greatest marketing tools, but you can’t just sit back and expect it to take off.
Most importantly, don’t overcomplicate things…and have fun!