Summary: With the unknowing and volatile market, frozen yogurt shops aren’t in high demand. However that shouldn’t stop you from trying to become successful.
Handling one’s inventory and stock can dictate the amount of finances that you will invest in your gelato product. For instance, let’s say “X” is the amount of frozen yogurt products that you purchase in a given month. You have to take into account, the amount of products that you’re purchasing, the prices, and how much goes to waste.
Accuracy Saves Money
It goes without saying that maintaining a healthy inventory is crucial for cutting costs and helping your business grow – as opposed to throwing money into the garbage once the yogurt begins to spoil. You need to keep an eye on numerous factors. Failure to do so will unknowingly drain your investment on a rapid basis. And, with the volatility of the frozen dessert market, you never know what will happen. Take the time to carefully inspect and monitor the amount of products to purchase. While there may be an occasional rush, there will also be dry spells that follow.
Another important thing that you need to keep in mind is that not only will you need to worry about your actual product, but you’re also going to have to order accessories such as: frozen yogurts cups, spoons, storage bins, and other items that keep your product safe. This needs to be factored into your financial reports as well. By doing so, you’ll be able to accurately estimate your monthly expenses as well as your income. Taking it a step further, you can create a chart that shows the length of time your investment needs to grow larger and larger.
To ensure your product reaches the community, you’re going to have to invest a solid amount in PR campaigns. Now, this can be anywhere from newspaper advertisements to full-blown television commercials. Well, maybe taking your business to television as a beginner might not be the best idea, but the point is that any exposure that you can get for your frozen dessert shop helps you out in the long run. People need to recognize your brand and become familiar with what you serve. Since social media essentially rules today’s world, use that as your way of communicating with both fans and potential business partners. Be creative, but don’t be hasty. Many times you’ll see companies spend thousands of dollars for advertisements but don’t get the proper exposure that they need to bring in business – making it a faulty investment.