5 Key Takeaways from The Frozen Yogurt Industry | Ep 468

The Game with Alex Hormozi

Alex Hormozi

Entrepreneurship, Education, Business, How To

4.9 • 4.4K Ratings

🗓️ 1 December 2022

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

There’s more to froyos than just the sprinkles on top… Today, Alex (@AlexHormozi) talks about how he almost decided to completely pursue his entrepreneurship path with a frozen yogurt business, the different lessons you can apply from this industry, and some interesting facts about froyos!

Welcome to The Game Podcast where we talk about how to get more customers, make more profit per customer, and keep them longer, and the many failures and lessons we have learned along the way to $100M in sales. We've got roll-up-your-sleeves kind of hustle with a little bit of cleverness and a lot of heart.

Timestamps:

(3:17) - When it comes to franchises, it’s structured so that you’ll have enough to pay the bills. They're only looking to optimize to beat the return on capital of the stock market by a decent amount

(4:45) - If you decide to get into this industry, the best tip is to go to foreclosure sites because it’s the best way to find good equipment at an affordable price

(6:29) - The landscape of the frozen yogurt place is a poorly competed marketplace, solely done by franchisors who are trying to sell as many locations as they possibly could, rather than build a brand

(14:59) - Lessons 1-3 from the froyo business: Give customers the ability to pick their own pricing by usage, redirect the prospect’s attention by order of your margin, & controlling the selection of variants you want to offer

(16:21) - Lessons 4-5 from the froyo business: going to a foreclosure website to your advantage, and using the power of the “default option”

(18:29) - The two most profitable strategies for acquiring customers with this kind of business are through word of mouth (referrals) and affiliates

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Transcript

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0:00.0	Hey guys, love that you're listening to the podcast.
0:02.6	If you ever want to have the video version of this, which usually has more effects, more
0:06.6	visuals, more graphs, you know, drawn out stuff, sometimes it can help hit the brain centers
0:11.7	in different ways.
0:12.7	You can check out my YouTube channel.
0:13.7	It's absolutely free.
0:14.7	Go check that out if that's what you are into and if not, keep enjoying the show.
0:18.7	Frozen yogurt stores make $2,100 a day selling 500 cups at 8 ounces each and it was the
0:25.6	business that I almost started instead of starting my gym.
0:28.4	And I know a ton about it and I will tell you how it works and what you can use from
0:33.0	psychology that I learned from yogurt stores that you can apply to your business today.
0:38.6	Welcome to the game where we talk about how to sell more stuff to more people in more ways
0:41.7	and build businesses worth owning.
0:43.5	I'm trying to build a billion dollar thing with acquisition.com.
0:46.1	I always wish pesos, musk and buffet had documented their journey, so I'm doing it for
0:49.6	the rest of us.
0:50.6	Please share and enjoy.
0:53.0	When I was 21 years old, I decided that I wanted to be an entrepreneur and I was deciding
0:57.6	between which business I should start.
0:59.9	And after looking at the entire world of opportunities, the three businesses that I was considering
1:03.8	starting was either a test prep business because I had done really well on my standardized
1:08.0	tests and I thought I could teach other people to do it in charge of money for it.
	...

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