Law of Supply and Demand Still in Effect
Close to five years ago, four frozen yogurt shops opened in the Richmond Highway Corridor. Perhaps they sensed an opportunity, as there were no frozen yogurt or ice cream stores in the corridor at the time.
Now, two out of the four shops have closed: Zinga in the Beacon Center and Sweet Frog in the Hybla Valley area. That leaves two places remaining to get your frozen yogurt fix: Sweet Frog in Kings Crossing and Yogurt City in Hybla Valley.
This reminds me of the bagel situation in my home town of Vienna, Virginia in the mid-1990’s. Three bagel shops opened within a year, and two of the three had closed a few years later. The survivor is Manhattan Bagel, still serving after more than twenty years.
Market research is important when opening a small business, and it is not unusual for several players to recognize the same opportunity at the same time. But there can be only a finite amount of demand for frozen yogurt or bagels.
Which makes me wonder about the demand for wings in our corridor. As reported by Covering the Corridor, there is a growing wing market that has now grown to five locations along Richmond Highway.