Couple Wins TCBY Franchise

CHOOSING YOGURT STORE SITE NEXT STEP FOR THE NEW OWNERS

Jared Greer of Fayetteville hugs his mother-in-law, Angela Lehren, after a news conference Wednesday to announce that Greer and his wife, Sarah, are the winners of a TCBY franchise.
Jared Greer of Fayetteville hugs his mother-in-law, Angela Lehren, after a news conference Wednesday to announce that Greer and his wife, Sarah, are the winners of a TCBY franchise.

— Now that Jared and Sarah Greer have won a TCBY franchise, the next step is deciding where it should go.

TCBY, a Utah-based yogurt and frozen yogurt company, offered a franchise as a contest prize. Company officials introduced Jared Greer as the newest franchise owner during a news conference Wednesday in front of the Fayetteville Town Center.

The Greers already own and manage a business, Greer Property Solutions, and each works in pharmaceutical sales. Sarah was out of town on business and couldn’t attend the announcement.

“She is sick to her stomach that she’s not here,” Jared Greer said.

Choosing the site could take a couple of months, and Greer is not set on one town.

“There are seven places we are looking at right now in Northwest Arkansas that could be the location,” he said. “We would eventually like to have a store in each of the four big towns.”

The number of potential spots could change, he said, as company officials from the real estate department help the Greers.

“That takes time,” said Michael Ward, TCBY president of franchising. He said many factors are considered, including visibility, customer convenience and lease costs. Ward said the Northwest Arkansas store could open as soon as late fall.

AT A GLANCE

The Contest

Name: This Could Be Yours, The Great TCBY Store Giveaway

Entries Received: More than 100, with each submission requiring a two-minute video and 500-word essay.

Semifinalists: 10 narrowed to five after a nationwide vote. Sarah and Jared Greer were tops at 2,692 of the more than 11,500 votes.

Finalists: Company officials visited each of the five locations, interviewed finalists and reviewed business plans.

The Northwest Arkansas shop will also serve as a first in the state in self-serve stores. Ward said TCBY recently developed the concept and has one self-serve store completed and a handful under construction. The new model allows customers to select their own flavors and load up with whatever toppings they wish. The purchase is then paid by weight.

The Greers had already looked into opening a franchise, and Jared said it just seemed perfect when the contest was announced.

The couple put a lot of work into their campaign to win, using social media and thousands of flyers.

“They worked very, very hard,” said Greg Allison, TCBY director of marketing. He said the strong community support played a role in the final decision.

Hard work is not uncommon for Jared Greer, said Carol Reeves, associate professor of management in the Walton College at the University of Arkansas. She taught Greer in her entrepreneurship class.

“He does his homework and researches things very well. I don’t think you can underestimate how hard-working he is,” she said. “He thinks big.”

Ward said TCBY will waive the $25,000 initial franchise fee for the Greers and will cover the costs of starting a new store.

He said typical TCBY stores are 1,200 to 2,000 square feet and employ between seven and 15 part-time employees and a full-time manager and assistant manager.

“We are there from the start of the process to when the store opens,” he said. “Then we hand them the keys, and we form a partnership.”

The Greers will get full ownership of the store over time.

“It is their business,” Ward said.

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