Entrepreneurship: Your Idea for Starting Your Own Business and the Role That Accounting Information Systems and the Web Will Be in Your Success
Although it sounds idealistic to some pragmatists, to me one of the strongest drives of entrepreneurship is its ability for one person to make the world a better place through his or her business. We may not change the lives of millions right now, but it is very possible to make a difference with hundreds others. Personally, I believe I can make some customers happy with the idea of building a homemade frozen yogurt store in my neighborhood.
1. Your idea for starting your own business
“Why a frozen yogurt store?” you ask. First, I am a true believer of how healthy and good food can greatly the quality of life. Homemade frozen yogurt is considered much healthier than commercial ones and ice-cream, since it contains good live active cultures and low to no fat and sugar. It is also tasty, good for digestion and contains enzymes that assist in breaking down dairy, making it a great treat for the lactose intolerant [1]. Consumers nowadays, especially parents are very health-conscious when it comes to food, because many serious diseases are originated to bad eating habits, such as diabetes, obsesses, and coronary artery disease, the number one killer of both men and women in the United States.[2]
Second, from a business standpoint, the return on investment of a frozen yogurt store is expected to be attractive. The initial investment is quite reasonable compared to other type of businesses. A Red Mango franchisee, a leading frozen yogurt chain, invests on average between $200,000 to 400,000 for a single unit [3]. Average unit volume can vary from $500,000 to $800,000 a store, with the busiest locations reaching $1 million in sales. But labor costs are low. A unit can run with only one or two employees per shift. Therefore, a frozen yogurt store on average can get 15 percent to 20 percent return. “It's a scaleable business model that requires minimal investment.”, said an executive vice president of market research consultancy Technomic.
Having both the
1. Your idea for starting your own business
“Why a frozen yogurt store?” you ask. First, I am a true believer of how healthy and good food can greatly the quality of life. Homemade frozen yogurt is considered much healthier than commercial ones and ice-cream, since it contains good live active cultures and low to no fat and sugar. It is also tasty, good for digestion and contains enzymes that assist in breaking down dairy, making it a great treat for the lactose intolerant [1]. Consumers nowadays, especially parents are very health-conscious when it comes to food, because many serious diseases are originated to bad eating habits, such as diabetes, obsesses, and coronary artery disease, the number one killer of both men and women in the United States.[2]
Second, from a business standpoint, the return on investment of a frozen yogurt store is expected to be attractive. The initial investment is quite reasonable compared to other type of businesses. A Red Mango franchisee, a leading frozen yogurt chain, invests on average between $200,000 to 400,000 for a single unit [3]. Average unit volume can vary from $500,000 to $800,000 a store, with the busiest locations reaching $1 million in sales. But labor costs are low. A unit can run with only one or two employees per shift. Therefore, a frozen yogurt store on average can get 15 percent to 20 percent return. “It's a scaleable business model that requires minimal investment.”, said an executive vice president of market research consultancy Technomic.
Having both the