By, rebecca cooper, senior Staff Reporter, washington, business. Journal, feb 12, 2015, 2:45pm est, updated. The future of Greater Washington's, pinkberry frozen yogurt shops is a little less uncertain this week after a buyer purchased the assets. Pinkberry, midAtlantic, llc with the intent of reopening the stores, according to the broker that ran the auction. Pinkberry, midatlantic, llc filed for Chapter 7 bankruptcy liquidation in late december, and the assets of the seven frozen yogurt locations owned by that franchisee went up for auction tuesday. The original bidders, Amandeep Brar and, kamran Ahmed, won the auction, purchasing the assets of the franchisee for 91,000.
Information on Starting a pinkberry Franchise - small Business
Most importantly if you are a social media expert you can do good amount of sales and bring in customers to your location. Franchisor offers extensive training before you take over the store with corporate support throughout the year. This location has 5 employees (PT) and owners are semi-absentee working approximately 20 24 hrs a week. Store earth hours is 11 am to 10 pm - fun environment - nice ambiance. You enjoy your life much better with ease of operating your own simple business. Great lease terms - low rent makes it even attractive buy. It is only 900. Store keeping your cost low and much profits for you. Please do not procrastinate if you ever dream of owning your own. Go ahead and fill out the nda form by clicking on the link above the pics.
Absolute winner especially for buyers who wants easy operation and good profit. Pinkberry offers uncompromising quality product who pioneered Yogurt business in the market early on offering plenty of Yogurt Flavors made with real Milk with their outstanding service and inspirational store design with simplicity makes the customer come again and again. They offer Frozen Yogurt Smoothies and Greek yogurt Smoothies. Choice of either full service, drop off or pick up and most importantly catering out to clients within 30 minutes of travel radius from the location. Catering could be big source of revenues and. Pinkberry does it well with reusable insulated note cooler bags with dry ice to corporate parties, weddings, family gathering, school events, conferences, birthday parties, hotels, universities and much more. They also offer take home containers and pick up packs.
Studies show that when shoppers make eye contact with a store employee they are less likely to steal something Id like to think this principal holds true for abusing the free samples as well. The general belief in the business world, is that you dont really make a substantial profit on food retail shops until you own three or more. Depending on your available capital, you may want to consider opening 2 or 3 shops at the same time. This will also give you immediate brand relevance and can often protect your area from incoming competitors. Dont forget to check out the profit calculator and feel free to call moliere or email with any questions). Wow Location at the cinema Theatres - in a high powered multiple anchors shopping center - this. Pinkberry, yogurt business opportunity for you. The most suited location for Yogurt business and a national brand that has been gaining popularity since 2005. It is beautifully placed corner location with patio tables situated in nice upcoming demographics building over 40,000 new homes community.
Our profit model shows that unless your store has strong volume (150 customers per day or more you could lose money having two employees staff your shop. Of course there are other factors to consider, like employee safety and or employee fraud. This is also a tricky area, because your entire concept is based on your frozen yogurt mix. If you mix isnt good, you wont succeed. But at the same time, you shouldnt throw money away on an overpriced product. Nancis solves this issue with mixes that are high-quality, premium mixes, but at a very competitive price. Most likely, the customers will demand free samples, but at the very least you should understand how many free samples you are giving away and how it is affecting your costs. One option is to have the sample cups behind the counter so the customer has to request one from an employee.
International Marketing Report for Pinkberry
For the purposes of simplicity, well break it down into two strategies at opposite ends of the spectrum, even though in reality there are various strategies in between these two. If the location is high rent it needs to also be a high traffic essayé area to drive your sales volume. High rent areas may also allow you to charge more per ounce. In order for this strategy to work, you must have a large number of customers. Low Rent/Low Volume/Low Cost.
If the location is a very low rent property that means its probably off the beaten path and doesnt have as much natural traffic. Generally, this would result in less traffic and lower sales volume, although there are stores that are in horrible locations and still gain a cult following and have lots of traffic. A low rent location may also mean you need to charge less per ounce, lowering your sales revenue. In order for this strategy to work you have to keep your costs extremely low and find ways to generate traffic in spite of your location. Labor will most likely be your single highest cost. The big question here is whether or not you can run your store with just one employee.
When you cross it your volume will actually decrease because either customers will stop coming or they will buy less. This Tipping point is unique to every area and every store. One approach is to keep your base price per ounce high but then use discounts and promotions to give customers a lower effective price. Remember that it is much easier to lower your price than it is to raise. Lower, costs, when evaluating costs there are fixed Costs and Variable costs.
Fixed Costs are costs that are the same regardless of how many customers you serve. For example, your rent cost will be the same whether you serve 10 customers or 300. . Rent is a fixed cost. On the other hand, cups are a variable cost because you only incur costs for each customer. One of the largest single costs for your store will be rent. There are a couple strategies to take when deciding on a location.
Local Pinkberry franchisee files for
Costs, labor costs, rent utilities, product costs ( yogurt mix, flavorings, toppings, etc.) dont forget to include the cost of free samples. Supplies (cups, spoons, napkins, etc. store and equipment maintenance, turning the dials. Increase sales revenue, get more customers. Typically this will mean more costs (like advertising and marketing but it you can also be creative and find traffic generating ideas with no or little cost. Another way to drive more traffic is to improve your product by offering new or unique flavors and by creating a unique product compared to your competitors. Nancis mixes and flavors are ideally suited for this contact us paper to discuss further. You can increase price and often not affect sales volume, but this is tricky because thereis an elusive price tipping point.
But its not quite that simple. Check out the profit calculator on our website for a customized analysis for your concept. There are several key drivers to making a profit with a frozen yogurt store. It is monavie important to emphasize profit versus sales. You may have lots of sales, but if your costs are too high you wont make any profit. You should think of these profit drivers as dials or levers you can adjust the dials various ways to maximize profit. Key profit Drivers, sales revenue, volume the number of customers per day and the number of ounces of yogurt sold. Price per ounce, sales of additional items (non yogurt items).
have all the information before you make any final decisions. Starting out looking for a franchise means matching your personality with what the business has to offer. It is suggested that you write down your most dominant personality traits and your top professional skills and try matching those with the franchises that are available. Pinkberry franchise review document is a good way to get started, but of course youll want to look at franchisee sales and earnings figures which should be included in The Franchise disclosure document. Frozen yogurt shops are one of the hottest retail concepts around. Many people see how simple the concept is, the low investment cost, and the high margins and think it is a no brainer. They expect to open their shop and start turning an amazing profit right away.
A big part of understanding where you stand is being able table to calculate your net worth. By adding up your assets and then subtracting your liabilities, youll come around to this figure that is instrumental in getting you a franchise. Youll need to have at least 400,000 in the net worth column to qualify to move ahead with. Having the right amount of liquid capital is another important prerequisite. For this particular franchise, youll need at least 200,000 as minimum on hand. Getting Started, the initial franchise fee is 35,000 dollars. Keep in mind, its always a good idea to take small steps at first when youre looking at a franchise. For example, having a solid business plan is a prerequisite if youre thinking about getting any kind of small business loan. The ongoing royalty fee for.
Pinkberry frozen yogurt chain is sold to cold Stone Creamery owner
All Franchise reviews, overview, this company was founded in 2005 and has been franchising since the following year. The company originated with its first store in West Hollywood and focused on the new York and southern California markets before expanding globally. The frozen yogurt brand has grown to more than 150 stores currently and two factors that separate them from the competition are blood their use of real yogurt and real milk. Their products come with a variety of toppings and they also sell shakes and smoothies. Financing, the initial investment for one of these franchises has a low and high number which is much the same as some of the other businesses you might want to consider. Pinkberry franchise review numbers are 310,842 - 615,145 dollars. Its important to understand your finances before you get excited about any of the more profitable franchises like this one.