Transcript Mission Statement - Villanova University

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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ENVIRONMENTAL SCANNING
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Villanova: Main Line
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Over twelve surrounding local colleges, including:
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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
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.
COMPETITION
SoFun Frozen Yogurt: Wayne
 Kiwi Yogurt: Haverford
 YoCreations: Rosemont
 Pink Berry: Bryn Mawr
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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
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CORE PROCESSES
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Customer Strategy and Relationships
Quality service and experience
 Customer involvement in making the yogurt
 Customer involvement and feedback
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Order Fulfillment
Always meeting the demands of our customers
 Fresh and local products from suppliers
 Efficient and effective self-serve line
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Supplier Relationship
Respect
 Continuous flow of goods
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MARKET ANALYSIS
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Market Segments
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Young Adults
Teenagers
 College Students
 Young Professionals
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Families
Women
Health Conscious
 Target
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Market
College Students (Villanova, specifically)
Families
MARKET ANALYSIS
 Competitive
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Quality Control
Price Sensitivity
Ease of Customer Experience
Ability to meet fluctuating demand
 Order
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Priorities
Winners
Location
Student Discounts
Décor & Atmosphere
Yogurt Blending
OPERATIONS STRATEGY: CORE PROCESSES
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Supplier Relationship: US Foods
Minimizing transportation costs and shipment times
 Long-standing, strong reputation
 Monitoring relationship to ensure quality
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New Service/ Product Development
Not a strong focus point, to start
 “YoSuggestions box”
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OPERATIONS STRATEGY: CORE PROCESSES
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Order Fulfillment
Setting up the store properly before opening
 Self-serve
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Customer Relationship
Most important aspect to the success of our business
 Fun and friendly atmosphere
 “YoSuggestions box”
 10% student discount
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OPERATIONS STRATEGY
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Resource Flexibility
Highly flexible staff
 Both full and part-time employees
 Special purpose equipment
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Capital Intensity
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Highly automated frozen yogurt and “mash up”
machines
QUALITY STRATEGY: TOTAL QUALITY
MANAGEMENT
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Customer Satisfaction
“YoSuggestions box”
 Unlimited free samples
 Inventory at close of business each day
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Employee Involvement
Close supplier relationship
 Testing machinery
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Continuous Improvement
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Weekly staff meetings
QUALITY STRATEGY: LEAN SYSTEMS
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Minimize daily waste of yogurt and toppings
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Minimize employee idle time
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Take careful note of inventory on a daily basis
Highly flexible staff
Minimize supplier delay times
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Close location to supplier
DEMAND MANAGEMENT
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Customers per day: 550
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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:
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9.68 oz yogurt
 3.22 oz of toppings
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Sell 5,320 oz of yogurt per day and 1,773 oz of
toppings per day, according to 550 customer estimate
DEMAND MANAGEMENT
Flavors Offered
Low-Fat
Non-Fat
Dairy Free
Tart
Dark Chocolate
Mint Chocolate
Chip
Mango
Original
Birthday Cake
Angel Food Cake
Raspberry
Peach Mango
Coconut
Vanilla Bean
Pomegranate
Wild Berry
Chocolate Peanut
Butter
Peppermint
Kiwi Strawberry
Blackberry
Red Velvet
Strawberry
Salted Caramel
Cookies & Cream
Toffee
Toasted
Marshmallow
Green Tea
DEMAND MANAGEMENT
Toppings Offered
Traditional
Favorites
Healthy
Choices
Brand Name
Treats
Extras
Chocolate Chips
Strawberries
Oreos
Hot Fudge
Rainbow
Sprinkles
Blueberries
Butterfingers
Caramel
Chocolate
Sprinkles
Coconut Flakes
M&Ms
Whipped Cream
Pretzels
Granola
Reese’s Pieces
Peanut Butter
Sauce
Cheesecake Bits
Pineapple
Cap’n Crunch
Cookie Dough
Almond Slivers
Cocoa Pebbles
Brownie Pieces
Walnuts
Kit Kat
Cherries
Kiwi
Heath Bar
DEMAND MANAGEMENT
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Future Demand Forecasting
Weighted moving average
 Exponential smoothing
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Queue Management
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Ensure efficient flow
PRICING: STARTUP COSTS
Fixed Costs (Start-up)
5 Two-Flavor Frozen Yogurt Dispensers (about $9,000 each)
Mash-up Machine
$45,000
$750
1 Refrigerator
$2,500
Kitchen Appliances
$2,000
Furniture
$6,000
Store Supplies (cups, spoons, napkin dispensers, etc.)
$1,500
Cleaning Supplies (broom, mop, paper towels, etc.)
$300
2 Registers ($300 each)
$600
Total Startup Fixed Costs
$58,650
PRICING: VARIABLE AND FIXED COSTS
Variable Costs (Monthly)
Toppings
Yogurt Mix
Utilities
Supplies
Total Monthly Variable Costs
$6,000
$5,000
$1,300
$1,800
$14,100
Fixed Costs (Monthly)
Labor
Rent
Insurance
Marketing/Advertising
Total Monthly Fixed Costs
$11,000
$4,000
$600
$1,900
$17,500
Revenue
Contribution Margin*
Net Income**
$78,210
$64,110
$46,610
*Contribution Margin = Revenue – Total Variable Costs
**Net Income = Contribution Margin – Total Fixed Costs
REFERENCES
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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?mo
d=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-andtrends/
QUESTIONS?