Presentation on theme: "By Cadence Trapini. What is 16 Handles? A frozen yogurt store! What’s with the name? 16 different flavors of frozen yogurt 50 toppings you can add to."— Presentation transcript:
By Cadence Trapini
What is 16 Handles? A frozen yogurt store! What’s with the name? 16 different flavors of frozen yogurt 50 toppings you can add to your creation Buy frozen yogurt prepackaged or to-go in the store Unlike other ice cream/gelato/ frozen yogurt shops, our frozen yogurt machines are self- serve! Prices are based on weight of the dessert Store is open year round
Union Street, specifically where Bruegger’s Bagel Bakery currently is Location
It’s near other restaurants/food vendors, and would be easily accessed by students attending Union College, Schenectady High, Niskayuna, and Scotia-Glenville It also has a decent parking lot (approx. 15 spots)
Product Frozen Yogurt!
Number of Employees 1 person at toppings 1 person at the register 3 people in the back loading the frozen yogurt dispensers and setting up supplies 2 janitors 3 people part time
Mission Statement “Surpass the customers’ expectations in taste and service”
Perceived Need The 16 Handles in Clifton Park is doing very well Many people outside of the Clifton Park area are going out of their way to get frozen yogurt
Why would it be successful? People love frozen yogurt! Healthier ice cream alternatives that people with certain diet restrictions can still enjoy (lactose intolerant, diabetes). There are non-fat, non dairy, and no sugar added options The Sixteen Handles at this location would be accessible to students from the surrounding areas, and students are our target customers.
Advantages Atmosphere: It’s well lit, painted with bright fun colors, has contemporary furniture, and upbeat music is playing all the time Healthier than ice cream You can make your dessert as unique as you’d like
Potential Users There are approximately 90,252 people in Niskayuna, Schenectady, and Scotia-Glenville It is expected that about 1,855 students (25% of students) will buy frozen yogurt about 4 times a year and the average profit from that will be $8.50 per purchase. At least 6% of the other population will be customers at our store, 4800 people, and will get frozen yogurt at least twice a year. This is the calculation for the first year. We expect to be more popular the second year and have more faithful customers that will recommend us to friends and family.
Chart of Expected Growth
Similar Businesses in the Area Friendly’s, 2 Stewart’s Shops, Curry Freeze, Hershey’s Ice Cream, Poppy’s Ice Cream, Bumpy’s Polar Freeze Inc., Big Scoop and More LLC, Corner Ice Cream Store, Villa Italia, Civitello’s, Big boy Ice Cream, and Ice Cream Pub Friendly’s, 2 Stewart’s Shops, Curry Freeze, Hershey’s Ice Cream, Poppy’s Ice Cream, Bumpy’s Polar Freeze Inc., Big Scoop and More LLC, Corner Ice Cream Store, Villa Italia, Civitello’s, Big boy Ice Cream, and Ice Cream Pub 13 places that sell ice cream or gelato 13 places that sell ice cream or gelato
Zoning Requirements Since we plan on building the 16 Handles where commercial development already is, we don’t have to worry about zoning requirements
Franchise Requirements The potential owner must have… Liquid assets $500,000 Minimum net worth $750,000 Store must be between sq ft 16 Handles estimates the cost of starting up a store to be about $450,000-$650,000
Ownership Info. Cadence Trapini owns 50% of the business, Annette Trapini 20%, Karen Trapini owns 13%, James Trapini owns 10%, Kristen Trapini 5%, Nick Trapini owns 2%
Management and Departments Management team: Cadence, Annette, Karen, James, Kris, and Alex Cadence is head manager Sales management team is the same as the management team The 16 Handles franchise team will assist us with a design and architect team to create an optimal layout for the store Managers will also receive training at a 16 Handles corporate location
Financial Need The particular lot that I’m looking to place 16 Handles will probably cost about $330,000 Site improvements will probably cost about $49,599 to redecorate, furnish, and buy the right equipment to make and serve the frozen yogurt ($3,699 per yogurt machine) $114.00: Fee for Food Protection Course. $25.00 permitting fee to manufacture and sell frozen desserts. Total: $379,738 if we don’t have to demolish and rebuild a store (just fix up) A small portion of funding will come from the owners of the store, and the majority will be from large loans from banks
Future Funding Needs If the franchise decides that we need to update the design, layout, and/or décor of the store we will most likely need surplus funding for that too
Long Range Financial Need Eventually the frozen yogurt machines will need to be replaced when they’re out- dated or aren’t functioning properly Eventually the frozen yogurt machines will need to be replaced when they’re out- dated or aren’t functioning properly This will cost about $32,000 (anticipating an increased cost in the machinery). This will cost about $32,000 (anticipating an increased cost in the machinery).