Making money selling frozen yoghurt can be a bit tricky, but it can be done if you do it right and find your niche. There are a few ways to go about such a business. The following is a series of steps to help you get your venture off to a good start.
- Skill level:
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Things you need
- Business plan
- Financial consultation
- Financing (if applicable)
- Recipe (if applicable)
Develop a business plan. Before you set up shop and start marketing your product, draft a business plan--complete with a start-up budget, operating budget, accounting system and a marketing plan. If you are unsure how to construct a business plan, contact a CPA or marketing firm to help you. These professionals write business plans for a living and will help you do it right the first time.
Decide on delivery methods. This will be very important and should be included in your business plan. Depending on your goals, it is vital to decide where you will sell your yoghurt. Whether you wish to open your own store, sell your yoghurt inside an already existing store or deliver it to your customers in freezer trucks. You may wish to open a seasonal yoghurt stand. Deciding on this early in the process will help you determine what your marketing strategy will be.
Have a recipe. Although it's possible to buy frozen yoghurt made by other companies in bulk and sell in your store, it is likely you will be more successful if you have a recipe that's unlike other products in the market. Because large chains and franchises are often able buy products in bulk at significant discounts, going to head-to-head with them selling the same products is often the reason most small businesses fail. Your own recipe will help you develop a niche that nobody else has. Your goal is to make profits quickly.
Keep your overhead low. To make money out of the gate, you will need to keep your expenses at a minimum. This can be done by selling to your friends and people close your home. You may ask a local business that has freezer capabilities to allow you to display some of yoghurt in their shop. By staying small at first, you will be able to focus on perfecting your yoghurt and having strong customer service. If your product is strong, your immediate market will do horizontal marketing for you without you having to ask them. Your friends can tell their friends, generating some word-of-mouth buzz. Soon, you will know if you should branch out and upgrade to a bigger location, buy more delivery trucks or hire more staff.
Patent your recipe. Going into business selling an original product such as yoghurt can be risky in that someone may steal your idea and pass it off as their own. Contact a patent attorney as soon as you begin drafting your business plan. Patents can take months to be granted; however, it is well worth the wait, especially if you have strong product.
Buy a franchise. If you don't have a recipe, just a desire to make money in the business, a franchise could be a viable option for you. Talk to your CPA about your options and research available yoghurt franchises and what it costs to open one.
Tips and warnings
- Only work with a knowledgable commercial real estate agent if you are buying or leasing space. It you are building, contact a reputable contractor.
- Only work with strong commercial lenders if you need financing to get your business going. Show them your business plan.
- Do not begin selling yoghurt until you've obtained a permit with your local health department.
- Do not open your store until your building is up to code with the health and building departments.
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