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Y O F LAVORS ! Amanda Nelson Anne Cognetti Katie Schaad.

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Presentation on theme: "Y O F LAVORS ! Amanda Nelson Anne Cognetti Katie Schaad."— Presentation transcript:

1 Y O F LAVORS ! Amanda Nelson Anne Cognetti Katie Schaad

2 M ISSION S TATEMENT YoFlavors! seeks to satisfy the sweet tooth in the community around us by bringing people together for a fun and flavorable yogurt experience while providing unique, healthy, and fresh flavors and toppings.

3 E NVIRONMENTAL S CANNING Villanova: Main Line Constantly supporting local businesses and new development Nine townships with public and private schools Radnor Township hosts around 6,400 families Villanova ranked 39 th in the Elite Highest Income Neighborhoods with median household income of $366,904 Over twelve surrounding local colleges, including: Villanova University, Rosemont College, Haverford College, and Bryn Mawr College Young adults are always looking for more ways to “snack healthily” while still fulfilling their sweet tooth.

4 C OMPETITION SoFun Frozen Yogurt: Wayne Kiwi Yogurt: Haverford YoCreations: Rosemont Pink Berry: Bryn Mawr

5 C ORE C OMPETENCIES Friendly and well-trained staff that provides the best service to our customers Comfortable and refreshing décor and atmosphere Central and popular location on Lancaster Ave. Wide variety of unique flavors and toppings

6 C ORE P ROCESSES Customer Strategy and Relationships Quality service and experience Customer involvement in making the yogurt Customer involvement and feedback Order Fulfillment Always meeting the demands of our customers Fresh and local products from suppliers Efficient and effective self-serve line Supplier Relationship Respect Continuous flow of goods

7 M ARKET A NALYSIS Market Segments Young Adults Teenagers College Students Young Professionals Families Women Health Conscious Target Market College Students (Villanova, specifically) Families

8 M ARKET A NALYSIS Competitive Priorities Quality Control Price Sensitivity Ease of Customer Experience Ability to meet fluctuating demand Order Winners Location Student Discounts Décor & Atmosphere Yogurt Blending

9 O PERATIONS S TRATEGY : C ORE P ROCESSES Supplier Relationship: US Foods Minimizing transportation costs and shipment times Long-standing, strong reputation Monitoring relationship to ensure quality New Service/ Product Development Not a strong focus point, to start “YoSuggestions box”

10 O PERATIONS S TRATEGY : C ORE P ROCESSES Order Fulfillment Setting up the store properly before opening Self-serve Customer Relationship Most important aspect to the success of our business Fun and friendly atmosphere “YoSuggestions box” 10% student discount

11 O PERATIONS S TRATEGY Resource Flexibility Highly flexible staff Both full and part-time employees Special purpose equipment Capital Intensity Highly automated frozen yogurt and “mash up” machines

12 Q UALITY S TRATEGY : T OTAL Q UALITY M ANAGEMENT Customer Satisfaction “YoSuggestions box” Unlimited free samples Inventory at close of business each day Employee Involvement Close supplier relationship Testing machinery Continuous Improvement Weekly staff meetings

13 Q UALITY S TRATEGY : L EAN S YSTEMS Minimize daily waste of yogurt and toppings Take careful note of inventory on a daily basis Minimize employee idle time Highly flexible staff Minimize supplier delay times Close location to supplier

14 D EMAND M ANAGEMENT Customers per day: 550 Lower than industry average Product demand per day: Average purchase is $ % of order is yogurt, 25% toppings With our price of $0.49/oz an average order will contain: 9.68 oz yogurt 3.22 oz of toppings Sell 5,320 oz of yogurt per day and 1,773 oz of toppings per day, according to 550 customer estimate

15 D EMAND M ANAGEMENT Low-FatNon-FatDairy FreeTart Dark ChocolateMint Chocolate Chip MangoOriginal Birthday CakeAngel Food CakeRaspberryPeach Mango CoconutVanilla BeanPomegranateWild Berry Chocolate Peanut Butter PeppermintKiwi StrawberryBlackberry Red VelvetStrawberryGreen Tea Salted CaramelCookies & Cream ToffeeToasted Marshmallow Flavors Offered

16 D EMAND M ANAGEMENT Traditional Favorites Healthy Choices Brand Name Treats Extras Chocolate ChipsStrawberriesOreosHot Fudge Rainbow Sprinkles BlueberriesButterfingersCaramel Chocolate Sprinkles Coconut FlakesM&MsWhipped Cream PretzelsGranolaReese’s PiecesPeanut Butter Sauce Cheesecake BitsPineappleCap’n Crunch Cookie DoughAlmond SliversCocoa Pebbles Brownie PiecesWalnutsKit Kat CherriesKiwiHeath Bar Toppings Offered

17 D EMAND M ANAGEMENT Future Demand Forecasting Weighted moving average Exponential smoothing Queue Management Ensure efficient flow

18 P RICING : S TARTUP COSTS Fixed Costs (Start-up) 5 Two-Flavor Frozen Yogurt Dispensers (about $9,000 each) $45,000 Mash-up Machine $750 1 Refrigerator $2,500 Kitchen Appliances $2,000 Furniture $6,000 Store Supplies (cups, spoons, napkin dispensers, etc.) $1,500 Cleaning Supplies (broom, mop, paper towels, etc.) $300 2 Registers ($300 each) $600 Total Startup Fixed Costs $58,650

19 P RICING : V ARIABLE AND FIXED COSTS Variable Costs (Monthly) Toppings$6,000 Yogurt Mix$5,000 Utilities$1,300 Supplies$1,800 Total Monthly Variable Costs$14,100 Fixed Costs (Monthly) Labor$11,000 Rent$4,000 Insurance$600 Marketing/Advertising$1,900 Total Monthly Fixed Costs$17,500 Revenue$78,210 Contribution Margin*$64,110 Net Income**$46,610 *Contribution Margin = Revenue – Total Variable Costs **Net Income = Contribution Margin – Total Fixed Costs

20 R EFERENCES About Us. (n.d.). US Foods. Retrieved November 6, 2013, from Frozen Dessert Supplies: Quality Frozen Yogurt Cups. (n.d.). FrozenDessertSupplies.com. Retrieved November 11, 2013, from Frozen Yogurt Industry Statistics. (n.d.). Statistic Brain RSS. Retrieved November 30, 2013, from Frozen Yogurt Preliminary Research. (n.d). Retrieved November 1, 2013 from Krajewski, L. J., Ritzman, L. P., & Malhotra, M. K. (2012). Operations Management: Processes and Supply Chains (10 ed.). Upper Saddle River, New Jersey: Prentice Hall. Opening a Frozen Yogurt Store: The Financials – The Typical Overhead Expenses. (n.d.). Milkshake Blenders. Retrieved November 21, 2013, from Pessin, J. L. (2011, August 22). Yogurt Chains Give Power to the People. The Wall Street Journal. Retrieved November 5, 2013, from d=googlenews_wsj d=googlenews_wsj 23 Frozen Yogurt Industry Statistics and Trends. (n.d.). BrandonGaille.com. Retrieved November 20, 2013, from trends/http://brandongaille.com/23-frozen-yogurt-industry-statistics-and- trends/

21 Q UESTIONS ?


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