Market Feasibility Study: Frozen Yogurt

Market Feasibility Study: Frozen Yogurt.

After living almost 4 years in Lithuania and comparing it and other European countries with my home country Belarus, I feel sorry for Belarus as it is closed country, and with modern youth the country does not have a lot of modern European places where people can spend their free time. Moreover, I always wanted to help the world become better. Therefore, I decided to combine these two passionate desires in me and open the fancy café for Belarusian modern people who will enjoy delicious frozen yogurt which they have never tried before. In addition to delicious frozen yogurt, my customers will enjoy different performances, seminars, and master-classes where they will donate to the Charity Fund “Chance”.

I strongly believe that my business idea has all factors to be implemented and become successful. The frozen yogurt café for Minsk people is absolutely unique idea as we do not have any even similar cafes to this one. We even do not have ice-cream café. There are a lot of kiosks in Minsk selling ice-cream but there is absolutely no kiosks or cafes selling frozen yogurt.

Moreover, the product itself is unique. I want to emphasize that we should not compare it with ice-ream because it is absolutely not ice-cream. They have nothing in common. From my experience, I like frozen yogurt more because it is a new taste for me, it tastes better and has rich taste as well as it is cooler than ice-cream and stays frozen for longer time than ice-cream.

The main reason why I started to develop this business idea is that I believe in it and I am passionate to implement it in a real life. Belarusian people are lack of innovative and attractive offerings. My café will give people joy of spending time together with their families or friends.

Very important factor to mention is that I will focus also on the social value my cage will bring to the community. Currently, I donate to the Charity Fund “Chance” and work there as volunteer as well as I donate food or clothes to other social-oriented projects at LCC. I feel that I want and need to help people who cannot survive with the external help. Therefore, I decided to make my café as a social-oriented entity. For this, I will organize different entertainment events and people will pay for attending it. My customers will know for what I need this money. I believe to build strong brand name that people will associate with fancy place to enjoy their lives as well as social responsible business that care about children in need.

After deeply researching and analyzing the external market, I found more opportunities than threats for my business idea.

I strongly believe that I will not have any problems with the initial funding for my café. First, I have a rich uncle who can give me some portion of money or I together with my fiancé and mother will save some of it. I assume to invest $15,000 from my own savings and to find $65,000 from outside investors. In total, I assume to spend $80,000 for my initial funding. Who is that outside investor? In Belarus we have business school project for young and enthusiastic entrepreneurs called Invest Weekend which is very popular and important project in Belarus. People with their business ideas gather together for workshops and seminars with successful Belarusian entrepreneurs and work on their ideas together with other participants and businessmen. At the end of the weekend, young people present their ideas and catch attention of some investor. The story of a girl who went there with her idea of hostel chain in Minsk who won in that competition and the investor gave her $50,000 for project implementation. In one year, she has already opened 3 hostels and plans to grow further.