FROYO WARS
The original Pinkberry in West Hollywood has decided to close their doors after 5 years. Instead, it will turn into a "Pinkberry Support Center" (no clue what that means or how it will function). I still remember the first time I had Pinkberry and it was indeed at the original West Hollywood location. I hypothesize that one of the major contributing factors that brought armies of people to Pinkberry during those days were after hearing rumors and ridiculous stories about how people were deliberately double-parking just to stand in a long line to eat this thing. I had to see for myself and I did. It was good but I wasn't floored. Little did I know then that it was the beginning of the Fro-yo Wars to come. Soon after, a slew of copycats (mainly Korean-American entrepreneurs) flooded the streets of Los Angeles and eventually to major cities across the nation to get in on the action. Some flourished and many went under, but frozen yogurt had definitely arrived and was having a legitimate impact in the frozen dessert market. According to some estimates among frozen yogurt franchise owners, froyo is a $14 billion industry worldwide with estimates to reach $26 billion by 2012. Many wonder if frozen yogurt is just another trend, a dessert fad that will soon meet its terminal fate. Is it the next "boba?" I once met a successful plastic surgeon who decided to open up a chain of frozen yogurt stores. This reminded me of the mortgage bubble 6-7 years ago when perfectly successful professionals (doctors and lawyers) began flipping houses full time and put their life-long trained professions on the back burner. The negative rumors are inevitable especially when you have a successful newcomer enter the marketplace. However, I don't get that feeling with froyo. Why? Well after several years of consumption, I still really do crave this stuff quite frequently. It tastes refreshing and I have a strange fetish for pulling on the handles to create my own masterpiece. Another added value is that it is generally known that froyo is healthier and less caloric than say, ice-cream or sundaes (although lay off on the Captain Crunch toppings sprinkled with Oreos). Too expensive? Not really...for about two or three dollars, you can have enough froyo to last a 10 minute sit down conversation and still get your fix. I see a bright future ahead for froyo however only the toughest, the most creatively marketed and niche serving companies typically tend to out-survive fierce competition such as the case with froyo stores. In the end, it comes down to common sense: If it tastes good, seemingly healthy for a dessert, which is rare, and doesn't burn a hole in my wallet, I'm going back for more.
