Written by: Gelato Products
When you open up a frozen yogurt shop or an ice cream shop, maintaining a steady budget is extremely important if you plan to stay in business. Because you’re in a risky market that’s inhabited by other business owners that will do anything to make it, it’s important that you come in well-planned and financially secure.
A good amount of expenses are going to go to your supplies. Things like tasting spoons, cups, bowls, napkins, etc. If you downsize the amount that you purchase, you could end up saving a good amount of money. Take out the supplies that you don’t need. Instead of purchasing little accessories that make your product look cute, create an idea that could be a substitute without having to buy more supplies in bulk.
Personalized ice cream cups can cost a lot if your logo requires additional work as well. If you are offering plenty of sizes, you could potentially decrease the amount of sizes and work based off what you have. This will end up with you not having to buy more cups.
Frozen yogurt and ice cream shop supplies are only one end of the stick however. You still need to budget how much of the yogurt mix or ice cream cartons that you are purchasing as well. If you’re making a mix in-house, you’ll need to calculate an appropriate amount so that you won’t have any extra – which will most likely end up being wasted. This means money down the drain.
Adjust your store hours to where you won’t have periods of just absolutely no customers coming at all. If at 9PM there isn’t anybody coming in, save the electricity and consider changing your hours to close before then. Small, but reasonable, changes can have an impact on saving you money.
If you manage to budget appropriately and hold a steady amount of sales throughout the year, then there is the possibility that you’ll start receiving a good source of income. Many shops tend to lose money in areas that are colder. This less demand just translates to a bad business opportunity. Look for potential in warmer areas that have a lot of foot traffic. Keeping your finances in check and budgeting correctly will keep you prepared for any unexpected loss of sales that come your way. There may be months of decreased sales due to cold, rainy weather. Preparing for this during the summer will keep you ahead of the pack and won’t substantially beat up your finances.