Lolo’s Ice Cream LLC is a family owned business started in 2014 by the Morello family. Lolo’s Ice Cream is an ice cream parlour in Ft. Lauderdale that is known for their quality homemade ice cream. Lolo’s serves a wide variety of trendy ice cream flavors at reasonable prices. The ice cream is made in an off-site facility and delivered. After it is delivered, pieces of candy, cookies, fruit etc. are churned into the ice cream using large mixers in the back room of the shop. Two of the family members manage the store and a third manages the ice cream making facility. Lolo’s also employs 5 part-time high school students. Their dairy is ethically sourced from cruelty free farms in Florida. Lolo’s is passionate about the war against single use
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Situation Analysis
SWOT Analysis Figure 1 shows the internal and external factors affecting the market opportunities for Lolo’s Ice Cream.
Figure 1. SWOT Analysis for Lola’s Ice Cream
Internal Factors
Strengths
Weaknesses
Management
Passionate about making strikingly beautiful and trendy ice cream cones
Because of small staff management gets overworked and mistakes happen
Offerings
High-quality, artistic, photogenic ice cream cones; Broad variety of ice cream flavors
Limited offerings. Only offer waffle ice cream cones with no variation in sizes or types of ice cream confections
Marketing
Strong Facebook and Instagram following; reasonable pricing
Limited distribution due to single store location
Personnel
Young, artistic, motivated high school students
Limited in hours available to work
Finance
Low overhead costs because the building has been inherited and is paid off
Lower sales in the summer season
Manufacturing
In-house production gives high control over product quality
Long churning process …show more content…
The top four players represent over half of the industry’s revenue. These big players include Dairy Queen, Baskin Robins and Cold Stone. These companies are franchisers. Dairy Queen is the largest competitor taking up over 30% of market share (See Appendix A). Dairy Queen specializes in soft serve ice cream but has expanded into hot foods and smoothies. Dairy Queen also competes in the global market as they have expanded into 19 different countries. Though DQ has a large market share, they only have 2 locations in Fort Lauderdale. Baskin-Robbins holds 13.9% market share in the ice cream industry. They specialize in having a wide variety of flavors, and keep 31 of them in store at a time. Their product line includes ice cream, frozen yogurt and other frozen beverages. There are 7 locations in Fort Lauderdale. Cold Stone Creamery has 6.6% market share in this industry. They are known for mixing ice cream flavors on demand on a cold countertop. Their product line includes ice cream, sundaes, prepacked ice cream, cakes, pies, shakes, smoothies, frozen yogurt and sorbet. The number of franchise locations have decreased in the past couple of years. There is only one Cold Stone location in Fort
Situation Analysis
SWOT Analysis Figure 1 shows the internal and external factors affecting the market opportunities for Lolo’s Ice Cream.
Figure 1. SWOT Analysis for Lola’s Ice Cream
Internal Factors
Strengths
Weaknesses
Management
Passionate about making strikingly beautiful and trendy ice cream cones
Because of small staff management gets overworked and mistakes happen
Offerings
High-quality, artistic, photogenic ice cream cones; Broad variety of ice cream flavors
Limited offerings. Only offer waffle ice cream cones with no variation in sizes or types of ice cream confections
Marketing
Strong Facebook and Instagram following; reasonable pricing
Limited distribution due to single store location
Personnel
Young, artistic, motivated high school students
Limited in hours available to work
Finance
Low overhead costs because the building has been inherited and is paid off
Lower sales in the summer season
Manufacturing
In-house production gives high control over product quality
Long churning process …show more content…
The top four players represent over half of the industry’s revenue. These big players include Dairy Queen, Baskin Robins and Cold Stone. These companies are franchisers. Dairy Queen is the largest competitor taking up over 30% of market share (See Appendix A). Dairy Queen specializes in soft serve ice cream but has expanded into hot foods and smoothies. Dairy Queen also competes in the global market as they have expanded into 19 different countries. Though DQ has a large market share, they only have 2 locations in Fort Lauderdale. Baskin-Robbins holds 13.9% market share in the ice cream industry. They specialize in having a wide variety of flavors, and keep 31 of them in store at a time. Their product line includes ice cream, frozen yogurt and other frozen beverages. There are 7 locations in Fort Lauderdale. Cold Stone Creamery has 6.6% market share in this industry. They are known for mixing ice cream flavors on demand on a cold countertop. Their product line includes ice cream, sundaes, prepacked ice cream, cakes, pies, shakes, smoothies, frozen yogurt and sorbet. The number of franchise locations have decreased in the past couple of years. There is only one Cold Stone location in Fort