Zoyo eyes Virginia growth
Published 8:57 pm Thursday, March 19, 2015
An Arizona-based frozen yogurt franchise plans to expand its Virginia footprint following the success of an initial store in Norfolk Suffolk.
About a year ago, husband and wife Armando Velasquez and Isaura Ramirez, both retired military, opened not only Virginia’s but the East Coast’s first Zoyo Neighborhood Yogurt store.
The store is on College Drive, nestled between Chipotle Mexican Grill and Jersey Mike’s Subs.
Before the grand opening last March, the couple said they were looking for a more-settled life for their toddler, after being stationed in Hampton Roads on and off while serving in the military.
“The franchise is very happy with the store, which has been very successful, so they are looking for more candidates to open stores in the area,” Ramirez said this week.
The success of the store has been surprising, she said, adding they have a loyal customer base and the catering side of the business is growing.
Ramirez noted the store’s efforts to connect with the community via fundraisers, benefiting organizations such as The Wounded Warrior Project and The Mission Continues.
According to a news release, Zoyo employs a “strategic growth plan” that “uses a detailed formula for the specific markets that it has targeted for growth.”
Rather than expanding as quickly as possible, like so many other franchises, Zoyo says it has a sustainable business model that required proof of success first.
The Zoyo model “seeks to develop a proof of concept for yogurt in markets that meet certain criteria that has been formulated on demographics, customer preferences and neighborhood presence.,” according to the news release.
The franchise has announced that site selection has begun for Norfolk, Virginia Beach, Richmond, Charlottesville and Alexandria, with consideration being given to other Virginia markets.
“Single unit and multi-unit franchise candidates are being assessed for awarding franchises in these communities in 2015, and Zoyo is forecasting the opening of up to five units in 2015 and seven units in 2016,” according to the release.
Ramirez, the Zoyo franchisee for the Virginia market, said she and Velasquez would consider opening another store themselves “if a good location came up.”
“But right now, we are looking for other candidates,” she said, adding. “People ask a lot about Virginia Beach.”
Zoyo is also in Arizona, Georgia, Indiana, Michigan and Texas.