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After exceeding its expansion goals for 2012, TCBY is now planning its growth strategy for 2013, which now includes the Detroit area as a priority market. TCBY will introduce its new self-serve store design as it grows throughout Detroit.
"It's such a refreshing time to be part of TCBY," said Tim Casey, CEO of TCBY. "We have been hard charging, but thoughtful in our growth, product development, marketing and franchise support in the last 18 months and have garnered the type of momentum this brand deserves."
According to a press release, TCBY's local market strategy offers an approach to growth that should yield higher store concentration in key markets, which the company believes is good for its franchisees. In Detroit specifically, the company is planning to open 15 to 25 self-serve stores within the next three to five years. TCBY already has six traditional stores in the area.
Casey said 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. TCBY 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 excitement," Casey added.
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