Melbourne has some dynamic suburbs full of entrepreneurs and business owners with unique service offerings and food. Glenferrie Road in Hawthorn is famous for its restaurants and food that cater to both its large university student population from Swinburne University, as well as its affluent local shoppers.
We continue our series on Australian buying opportunities by speaking to Terry Friend, an agent, who has recently put up YouTop yoghurt in Hawthorn for sale. Located in the heart of Swinburne University vicinity on the trendy and busy Glenferrie Road, Hawthorn, YouTop yoghurt is a local favourite which is now up for sale.
Thanks for speaking with us. Firstly, what brought the owners into the business? Can you tell us a about their background?
The owner has a number of retail investments around service stations and convenience stores. The opportunity for a Yoghurt shop in busy Glenferrie Road was hugely appealing and he snapped at the opportunity to grow the business.
What were some of the challenges faced to get the business to where it is today?
Upon inspection it is evident that the machinery, fitout and store location are top quality. No expense has been spared to make the retail outlet attractive, user friendly and functional.
What markets does YouTop Yoghurt target? How has this evolved since you first began running the business?
The retail ‘takeaway’ food market in Glenferrie Road is very much the hipster and trendy market, along with the Swinburne University student market. Swinburne continues to grow in numbers and stature, and will continue to be a considerable part of the target market. It’s common to see students buying yoghurt from here as part of their daily ritual.
What stage of development is the business in? What are its key strengths?
The business is still in its infancy, relatively speaking, with significant upside potential. Its key strengths include a fabulous location on Glenferrie Road, modern frozen yoghurt machinery and a very attractive fitout.
Who would suit running this business?
This business would suit anyone seeking a retail food opportunity in a good location, and anyone with some marketing/advertising ideas/potential to make the business grow and realise its true potential.
Potentially this is a business for new young owner who is part of the hipster crowd, who understands and relates to the ‘millennials’, and most importantly can generate some new ideas for marketing the business. Given it’s strong infrastructure and base, opportunities to market the business are significant.
Given that the business is going so well, why is the owner selling now?
Unfortunately the owner has some serious health problems that require him to sell out of the business. As such, the owner is seeking to recover only the written down value of the equipment and fit-out, and seeks to make sure the new business owner has every opportunity to make the business work to its full potential.
In your opinion, who would makea good owner? What further opportunities are there for a new owner to grow YouTop Yoghurt?
The existing owner has not spent nearly enough on advertising/marketing the business. There is significant upside potential to reach the Swinburne University community, including the residential students. Some creative marketing to get students and others in the door, supply a quality product, and secure repeat business is an obvious first step to grow the business. There is room for expanded ranege of offering such such as ‘twp for one offers’, frequent purchase cards,free birthday yoghurt and other innovations.
Glenferrie Road is a competitive market, and there is at least one other yoghurt shop in the vicinity. However, there is opportunity to cross market with other food retailers in the strip – takeaway food shops, coffee shops etc that don’t offer a frozen yoghurt product.
What’s the most interesting part of running YouTop Yoghurt? What should a new owner expect?
It’s all about the customers – the people – who come through the door. The new owner should expect lots of loyal customers, and to listen to their suggestions – new flavours, new toppings.
Thanks for your time Terry.
See the full business listing at
Call Terry Friend on 0418 370 687 to discuss in more details.