TCBY targets Detroit as priority market
Everything seems to be turning up Peaches and Cream for the frozen yogurt industry leader, TCBY. Having already exceeded 2012 franchise growth expectations thanks to its new self serve frozen yogurt operating model, TCBY is now focusing on key markets across the US for continued franchise growth in 2013. The brand is looking to make next year a banner year as it looks to the Detroit area as a priority market for its continued expansion, and plans to introduce to the area its exciting new store design. On top of a new self-serve frozen yogurt store design, TCBY continues to lead the frozen yogurt industry by delivering first-to-market innovations, including Greek Fro-Yo and its previous launch of Super Fro-Yo, which was recognized by Prepared Foods Media for its "Excellence in Innovation" award.
"It's such a refreshing time to be part of TCBY," says Tim Casey, CEO of TCBY. "We have been hard charging, but thoughtful in our growth, product development, marketing and franchise support in the last eighteen months and have garnered the type of momentum this brand deserves."
With a distinct color palette and welcoming social lounge, the new self serve store design boasts a clean and modern design with smart functionality for both consumers and employees. Upon entering the store, customers will find approachable soft serve machines that boast rotating nonfat, 98% fat free, no sugar added frozen yogurt options, and dairy-free sorbet, as well TCBY's latest innovation Greek Fro-Yo. Self-serve pricing is done by weight per ounce.
While TCBY has no plans to move away from national or international growth, its local market strategy offers a more exhaustive, strategic approach to growth that should yield higher store concentration in key markets, which the company believes is good for its franchisees. Today, TCBY is announcing that it has set its sights on Detroit and the surrounding area, where it looks to grow the market by 15 to 25 self serve stores in the next three to five years. TCBY already has six traditional stores in the area. With a strong history in the market, metro Detroit is important for TCBY as demographics show the area overflows with the typical TCBY customer. The brand also believes the city has a favorable competitive environment as the self serve frozen yogurt market is not overbuilt and allows room for a brand like TCBY to continue to build in the market with its new store design. TCBY has also conducted in-depth analysis of the market which shows the area can support up to 25 new self serve locations.
"We see Detroit as one of a number of strategic growth markets for franchise development. To date, consumer adoption and enthusiasm for self-serve has exceeded our expectations and new and existing franchise interest has run parallel with that excitemen," Casey says. "Package that with what we have invested into the food science of our fro-yo, giving our R&D team the chance to distance itself from the category with innovations like the healthiest frozen yogurt in the market place, Super Fro-Yo, and the first-to-market Greek frozen yogurt, and it's paying dividends for our brand and our partners."