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YoFlavors !

YoFlavors !. Amanda Nelson Anne Cognetti Katie Schaad. Mission Statement. 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.

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YoFlavors !

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  1. YoFlavors! Amanda Nelson Anne Cognetti Katie Schaad

  2. Mission Statement • 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. Environmental Scanning • 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 39th 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. Competition • SoFun Frozen Yogurt: Wayne • Kiwi Yogurt: Haverford • YoCreations: Rosemont • Pink Berry: Bryn Mawr

  5. Core Competencies • 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. Core Processes • 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. Market Analysis • Market Segments • Young Adults • Teenagers • College Students • Young Professionals • Families • Women • Health Conscious • Target Market • College Students (Villanova, specifically) • Families

  8. Market Analysis • 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. Operations Strategy: Core Processes • 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. Operations Strategy: Core Processes • 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. Operations Strategy • 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. Quality Strategy: Total Quality Management • 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. Quality Strategy: Lean Systems • 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. Demand Management • Customers per day: 550 • Lower than industry average • Product demand per day: • Average purchase is $6.32 • 75% 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. Demand Management Flavors Offered

  16. Demand Management Toppings Offered

  17. Demand Management • Future Demand Forecasting • Weighted moving average • Exponential smoothing • Queue Management • Ensure efficient flow

  18. Pricing: Startup costs

  19. Pricing: Variable and fixed costs *Contribution Margin = Revenue – Total Variable Costs **Net Income = Contribution Margin – Total Fixed Costs

  20. References • About Us. (n.d.). US Foods. Retrieved November 6, 2013, from http://www.usfoods.com/about-us.html • Frozen Dessert Supplies: Quality Frozen Yogurt Cups. (n.d.). FrozenDessertSupplies.com. Retrieved November 11, 2013, from http://www.frozendessertsupplies.com/?gclid=CJ2YntWN7boCFejm7AodM1IA_Q • Frozen Yogurt Industry Statistics. (n.d.). Statistic Brain RSS. Retrieved November 30, 2013, from http://www.statisticbrain.com/frozen-yogurt-industry-statistics/ • Frozen Yogurt Preliminary Research. (n.d). Retrieved November 1, 2013 from http://alondrathomas.efoliopa.com/Uploads/YogurtResearch.pdf • 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 http://www.turnkeyparlor.com/triple_spindle.htm • Pessin, J. L. (2011, August 22). Yogurt Chains Give Power to the People. The Wall Street Journal. Retrieved November 5, 2013, from http://online.wsj.com/news/articles/SB10001424052702303365804576432063658323394?mod=googlenews_wsj • 23 Frozen Yogurt Industry Statistics and Trends. (n.d.). BrandonGaille.com. Retrieved November 20, 2013, from http://brandongaille.com/23-frozen-yogurt-industry-statistics-and-trends/

  21. Questions?

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