Devin McCann and Bill Coffey
The Six Business Activities
- Generating Ideas--Frogurt is the name of our business. Our Frozen Yogurt shop will be located in Rochester, Illinois. We chose Rochester, Illinois as our location for our business because we will have no competition, and as a resident in Rochester, I am always looking for a place to grab a quick snack, but there are no places to even get a meal at besides Razzo’s, Subway, or Headwest. Opening a frozen yogurt shop in Rochester will be something new that all residents will love. The residents will no longer have to drive to Springfield or other surrounding areas to grab a quick, delicious snack!
- Raising Capital--To raise the money we need to open and maintain the shop, we would use our own money to rent/ buy the space we would need for the shop. If needed we would get a loan from one of the banks in Rochester to buy supplies and etc. Once we open and start bringing in revenue we would pay the bank back.
- Employee and Training--We will recruit and hire employees by first putting an ad in the newspaper that will explain what our business is and announce that we are now hiring employees. We will put both of our contact information on the ad so they will know who to contact and we can talk to them to certify that they are fit for the job. After they have contacted us we will set up and interview date, which then after that we will decide if we want them to be an employee of our business. All employees must get a food handling license, have prior experience in the food business, and be able to work flexible hours/have a lot of availability. Employees must have basic money counting skills. We would train our employees to use and clean the yogurt machines.
- Buying Goods and Services--We would order a some of our supplies online. There is a website that specializes in frozen yogurt machines. We would buy our machines from them. We would buy our yogurt mixes from area grocery stores or from family creameries to ensure freshness. We would buy the toppings for the yogurt in bulk from large warehouse stores like Sam's Club.
- Marketing Goods and Services--
We will market our business by newspapers, internet, and radio. We will put creative and fun ads that will advertise our business in the Rochester Times, and other surrounding area newspapers. We will also advertise on the internet by creating a website, Facebook fan page, Twitter account, and an Instagram account. Using Social Media will help get our business name out there. We would also pay for many radio advertisements to raise awareness of our shop.
- Maintaining Business Records--We would use online record keeping websites to track our sales and expenses. Since all we sell is food, we do not need to keep extensive client records. We do however have to track the money we receive. We will store the receipts of the customers to record how much we made and how much we have to give to taxes.
We chose a partnership because we wanted to share responsibility and profit of the business. When there is two people, their is less pressure on one person. You can also have two different opinions and ideas about how to run the business.
Advantages: Two people contribute to the investment, get expertise from more than 1 person, each partner is responsible for the decisions made by all other partners
Disadvantages: No protection for personal assets, if a partner leaves or dies the partnership is dissolved
- Make more than $250,000 in total sales in the first year of operation.
- Increase sale by 15% in the first 6 months.
- Invest in marketing to target customers all over Rochester and increase customer awareness
- Establish our business as the best frozen yogurt shop in Central Illinois.
- Provide a safe and fun place for children to hang out and to provide a clean, orderly, and a positive influential place for them.
To create the finest quality natural frozen yogurt product with a commitment to incorporating the freshest and richest ingredients into a world class product;
To meet the highest standards of excellence with superb service and product offerings in a friendly, sparkling, and soothing atmosphere;
To create an enlightening experience in which an entire family can enjoy additional bonding time away from home;
To become a true Fourth Place after home, school and church for school-aged children and a true Fourth Place after home, work and church for adults;
To relentlessly seek out and proactively respond to the changing needs of our customers.