1 Business School Bilingual Bachelor in Business Administration Entrepreneurship Foundation ( ) I Quarter 2011 Laura Bravo Pinkberry Helena Araya Pinkberry has reached nearly 100 locations throughout the United States, Mexico and the Middle East * Now seeking to expand to the beautiful Country of Costa Rica
2 Concept Test Pinkberry is something new to the market of Costa Rica, yes many have now experienced the taste of frozen yogurt but never like the franchise of Pinkberry. Pinkberry not only offers a healthy product but also a product that is extremely delicious and will have you asking for more. On 2005 the first laugh of Pinkberry was made and every since then it has been a total success. This brand name now takes the dominant leadership in frozen yogurt category and now stands in the top 20 social media restaurant brands in America. We have reached nearly 100 locations throughout the United States, Mexico and the Middle East also now seeking to expand within the country of Costa Rica. The product offers a variety of different taste such as the original, pomegranate, chocolate, mango, coconut and green tea. These different flavors have allowed the success to expand. The success is also due to its dry and liquid toppings that accompany the frozen yogurt to become an exquisite and enjoyable taste. While having the broad idea to open up my own Pinkberry store I aim to offer this product to the high and middle class. The reason of why I choose to sell my product within that range of consumers is due to analyzing who were the consumers back in the U.S and who would have the interest in buying my product. Frozen yogurt will not be as affordable due to most of the products being imported from different parts of the world to continue getting that delightful taste, so in that case only those from the middle to high class will be able to afford and consume Pinkberry. This product benefits all who consume it. The most important factor about the frozen yogurt is how healthy it really is. Pinkberry is great tasting and a healthy frozen yogurt with nonfat and low fat flavors, so much so that for this reason it carries the seal of approval from the National Yogurt Association. The product adds a value since it s good for your health and offers a taste to the Costa Ricans that they have never been able to experience before. Competition will most likely be outside competitors. I will be worrying about ice cream and other brands of ice cream. The frozen yogurt that is already offered in Costa Rica is not such a direct competition since the taste of Pinkberry is like no other and cannot be compared. My decision to focus on this business idea and bring it public in Costa Rica was mainly due to the success it made within the United States. Most if not all of the franchise that have been brought from the U.S to Costa Rica have been a total success and I am sure that Pinkberry as a franchise will be as well. Loving the taste of the product and wanting to share the great and healthy taste with others is what makes me proud to own and have Pinkberry as my business.
3 Survey questions asked to 10 people: How often do you go out for dessert such as ice cream or frozen yogurt? Twice a month Once a week Once a month Never Yes Have you ever tasted frozen yogurt? No Have you ever tasted frozen yogurt? Questions: Is health something you care about before getting dessert? When you think about getting desert, what prices are you seeking for? If you can pick any flavor to add to your desert what will it be?
4 While doing the survey I was able to visualize and expand a lot of new ideas for the frozen yogurt. The survey was given to 10 different people of those who fit in the middle or high class of consumers. Answering these questions they were able to voice out their likes and dislikes. I provided 5 questions which four of them were open questions and allowed the people to express their opinions. Most of the people asked had never tasted frozen yogurt and those who did had first experienced the taste from Pinkberry and where delighted with the idea of bringing a store near them. Once they were asked about how often they went out for desert the majority who ranged from ages of answered twice a month. Meaning that is something that they seek to do in their monthly routines. A factor that did have me shocked was that most people do not care about their health once shopping for a dessert, which made me realize that the taste must be extremely good to have them coming back. Not caring so much about the desert benefiting your health allows me to see that to most that is just a bonus and advertising the good taste is a must. Asking about the price ranges the majority answered whatever is needed as long as it tastes good. This statement makes me, the provider of the good know that the taste must always be the number one priority since it will be what would have customers coming back for more. Different types of flavors are very important and is something we definitely do offer since its not only the frozen yogurt what we offer but also the toppings, but since not only what we offer is important also what the customer desires we decided to ask which flavors they prefer to have in their desired desert. The majority chose any flavor since they love the sweet taste and after that the flavor that was most popular was coconut. Coconut seems to be very popular within the Costa Rican community and this was great news to me since it already is a flavor that we offer.
5 Mantra: A delicious and healthy delight Slogan: Taste the flavor you love with Pinkberry Target Market: 1. My target market is the high class, those who love to splurge on their likes and are willing to go on the extra mile for what they like. My product is very unique and in the states is popular, so my target market has to like and want to have what is now in. Most individuals who are within this target market don t like to do what everyone else can do. Since that is the case, families and young adults who are the market that I will be targeting will feel unique, special and proud when they consume my product. Families and young adults High class, Love to splurge on their likes Are willing to go the extra mile for what they like Pinkberry is what is now in! 2. My brand is unique not only for its taste but also for its position within the market. Its taste is like no other and people are already used to ice creams and other deserts. This new taste of frozen yogurt will have everyone asking for more. Its popularity around the world will make this product unique in Costa Rica. Pinkberry is now something new and exciting which makes the product 100% unique.
6 Product Discription: - Original, Pomegranate, Chocolate, Mango, Coconut and Green Tea frozen yogurt. - Daily cut fresh fruit toppings - Dry and liquid toppings This product is different for its great taste and most important because it is the most popular selling yogurt in the world. Place: Pinkberry will be sold in a mall or a shopping center like Plaza Itskatzu, which are places that are very frequented. My product will have its store and a lounging area in the store so those who consume Pinkberry can indulge the taste comfortably with their friends and family. Price: Pinkberry will have a competitive pricing due to its product value. Customers will be willing to pay a little more for its taste and popularity. From the competitors point of view it will only be a 10% increase on the normal pricing. The prices will range from 1,500 to 3,000 colones.
7 What makes us different? Classified as the best frozen yogurt Popularity Healthy Product Its delicious taste Growth * We stand out*
8 Main Competitors: Pops Its popularity and variety of taste Dos pinos Ice cream Its popularity and accessibility My product is something new and new products with new ideas are always threats. Pinkberry is a very unique product that due to its taste and how healthy it is, it will have everyone asking for more! Advertising Billboards near the store location Brochures Website Facebook
9 Startup Cost Sheet Monthly Expenses
10 Total: 1,627,971 Sales and Investments
11 First week of January 500 of quantity was sold at a cost of 1,500 colones Revenue made 750,000 colones For the next following week until week 49, 1000 of quantity was sold at the same price. Revenue: 1,500,000 colones For the 49 to the 52 week which is a holiday seson the double of quantity was sold at the same price Revenue: 3,000,000 colones Investment: 215,000,000 colones by an Asociación Anónima Conclusion: In reality as an entrepreneur I was not going to be able to afford this. I made the numbers work so the angel investors and I can see what is needed to make my business successful. As you all can see at the end you have positive numbers and the history of the business allows you to view the future success. Having the ability to be able to open this business is all I really need, the funds to open the store would be all that is missing. Having this available I would open as soon as possible and become a very successful company and franchise within Costa Rica.
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