Business plan of Frozen Yogurt Shop: An Executive Summary - Term Paper Example

The company conducts its activities in two distinct ways. One of its operations is done at the location of its store while the other is conducted by use of yoghurt trucks. The frozen yoghurt shop consists of 20 seats with unique Wi-Fi which is provided for free to customers who stream into the shop. Compared to other yoghurt shops around the yoghurt shop operates on a self service basis where every cup of yoghurt is charged based on the weight. The yoghurt truck will commence its operation in June while the yoghurt shop will kick off in April.

This is in readiness for the spring break for NYU students who will form the major segment of the target market. The business will be located at the lower eastside of New York which is within a walking distance from the NYU campus. The target market at this location as mentioned before consists of NYU students, club goers and residences around the Lower eastside of New York. The business intends to operate yoghurt trucks during the summer. The parking and operation points for the yoghurt trucks will be Bryant Park which will operate during daylight and Union square during the evening hours.

The operating hours for the business have been already scheduled according to the days of operation. The business shop will be open from 11 Am-11Pm from Sunday to Saturday and from 11Pm to 5am on Friday to Saturday. On the other hand, the yoghurt truck will operate from Thursday to Sunday from 11pm to 3pm at Bryant Park location and from 3.30 pm to 7 pm at the Union Square. The yoghurt shop will be run by 2 employees during the week and 3 employees during the weekends. The yoghurt truck will be run by 2 employees.

The rationality behind using 3 employees during weekends is that the number of customers expected on weekends is overwhelming considering that during weekends there is plenty of club goers and fun goers in the park hence higher sales turnover expected. The yoghurt shop business has various objectives which it intends to achieve in its line of operation. The business intends to improve on its sales by realizing over US$ 65,000 in sales during the first year in business and thereafter grow the sales revenue annually by a margin of 30 % or more in the second year of operation.

Besides, the business will see to it that 5 out of 10 customers are fully aware of the business and its products specifically the extraordinary flavor and benefit of frozen yoghurt the business intends to launch. Last, but yet important the business intends to create a high quality and flavorful yoghurt to its esteemed customers. Yummy Yoghurt business has faith that its mission is to produce super quality yoghurt in New York and its environs and to create a brand that will increase its demand and create more customer loyalty to the frozen yoghurt.

The mission statement is therefore “to produce the best quality yoghurt in New York and establish the brand to be the essence of everybody’s drive to demand more of frozen yoghurt”. Moreover, the vision of the business will be “to operate and service a healthy yoghurt shop.” Through the vision and mission statement the business intends to drive most parts of New York City using the yoghurt truck and serve most of the esteemed customers with quality frozen yoghurt. The key success of the business lies behind the faith the business holds in its customers and in satisfying and serving the needs of the customers.

Besides, the firm will offer affordable prices for the yoghurt brand. The ownership of the business consists of 6 partners with various title and accountabilities. The responsibilities of the 6 major partners will entail the top administrative positions that will ensure smooth stewardship of the busine