Key Financial Success Factors for Shasta Ice Cream - Assignment Example

The company will be located in Yreka Junction Shopping Center in northern California. The company will be the only specialty Ice Cream Shoppe and will take advantage of the lack of competition within 30 miles and will serve many communities in the surrounding area. Located in the shopping center includes two large grocery chains, Wal-Mart and Raley’s as well as other smaller products/service stores. Also located in the shopping center are a few fast-food restaurants, Carl’s Jr., McDonald's, and Taco Bell which serve prepared frozen desserts products but don’t offer any type of unique or superior ice cream flavors that my company will offer.

Shasta Ice Cream’s primary customers will be drawn from surrounding cities and towns which accumulate close to 15,000 people according to the 2010 census and are projected to have a 6.5% growth rate each year. I will also take advantage of customers shopping in the Yreka shopping center on an impulse basis during their trips to the supermarkets or finishing meals at the local restaurants. However, the company will have no name recognition throughout the community and I will have to create a strong marketing and advertising plan in order to capture the market.

To help staff the store I plan on hiring an accountant to keep track of all the financial, inventory, wages, and manufacturing overheard aspects of the business. I will also find a Lawyer who deals with small companies to ensure all requirements and procedures are being met with different court filings, as well as to write up different documentation used for hiring and contracts for partnerships with companies within the community. I will also hire an assistant manager to help manage daily operations at the store as well as four part-time employees to work approximately 20-25 hours a week to provide customer service.

Tart frozen yogurts have made a major come back, with many frozen yogurt franchises appearing on market.