Are you considering opening a juice bar that offers fresh juices and smoothies? No doubt it’s a great idea! You will need a key location, a comprehensive juice bar business plan, and juicing equipment to launch this business. The startup costs of the juice bar business are $20,000 and $400,000. The average annual revenue you can earn from this business ranges between $100,000 -$600,000. Keep in mind that this is the average income. If you are in a thriving, developing, and healthy city, you can simply go further.
It means you can enjoy a 50% to 70% gross margin if you made a careful bar business plan. Successful juice bars require hard work, inspiration, and intensity for fresh food.
1. Get to know how the juice bar works.
Before opening a juice bar, you should know how the juice bar ins and outs work. Juice bars are stores that offer freshly made drinks, such as cold-pressed or fresh-squeezed juices and smoothies. Other prevalent menu items include simple meals such as protein shakes, vitamin-rich juices, sandwiches, and salads.
The best way to find out how juice bars run is to work with juice bars. Before starting your own juice bar business, it’s an ace idea to work for an effective juice store. It helps you learn how juices are made and what the juice bar looks like daily.
If the juice bar doesn’t have a personal experience option, you’ll need to do some market research. Study popular and successful juice bars in your area. And find out how they run their marketing campaigns. Besides, learn about their advertising efforts, menu items, peak hours, number of employees, and work hours.
2. Create a business plan
Why do the juice bar businesses meet with disaster?
Juicy Bars are really like a prize draw. You need to estimate how many people will come to your store and when.
You need to know what they are going to order and how much.
The most pleasing way to do this is to create a solid business plan. It is vitally important due to several reasons. First of all, you will need a business plan for any financing or investment option. It is also essential to outline the features of your business.
By thinking now and making appropriate decisions, you will speed up the whole process in the future.
Create a business plan that includes both expected costs and estimated revenue. It takes time and research. But it saves you a lot of time in the future.
Other elements that you must be in your business plan include:
- Operating costs: rent and supplies. Are you buying a rental contract?
- Location: where will your store open?
- Your target market: Who is your customer? Where does it live and hangs?
- Legal requirements: What licenses and permits do you need? How much did they cost? List the licenses and permits you will need, as well as the amount of liability coverage needed for your juice bar.
- Insurance needs and requirements
- Employee Plan: How many employees do you need, and what will you pay them?
- Marketing plan (and budget), what’s the best way to reach and attract your audience? Include online and print advertising, promotional offers, and even TV ads.
3. Source of your product
Look for local food stores to buy fresh vegetables, fruits, and ice cubes. Count on wholesale food stores or clubs in your area. If you plan to offer a protein shake as well, seek a wholesale food store that sells the same protein. Choose a wholesale grocery store that provides everything you need at an economical rate. Also, calculate your frequent expenditures in your operating budget.
4. Choose a location
Choose your juice bar location using data collected during your research. Choose a well-trodden area that should not be near to other competing juice bars. Find your juice bar near a gym, health food store, and karate studio or racket club to grab the athlete’s attention. Talk to local real estate agents about lease terms and any rental charges, as this should be part of your business plan and budget.
The cost of renovating an existing space or building a new store should be part of your budget. Remember to include worker costs and material charges.
5. Choose the best legal framework for your juice bar.
It is crucial to choose a legal framework for your business. It determines how taxes are collected and reported. Moreover, it defines how you pay your business and the level of your responsibility. There are many legal frameworks, but the most common is in a small business, such as a proprietary and limited liability company (LLC).
If you are not an LLC member, only one property is the infrastructure involved in your business. The property provides you with both personal and business financing, which means that your business income is considered personal income. However, it also means that in the event of a problem (decision, bankruptcy, etc.), your personal assets, such as your home and car, maybe at risk. Some retail business owners choose full ownership, but freelancers and consultants mainly use this legal framework.
LLC is considered the most popular, reliable, and beneficial legal structure for small business owners, like a juice bar.
6. Create your menu
Enlist all the juice products you have sold. Estimate the most reasonable prices for each item. Choose competitive prices that should be in a position to make a profit. Add extra value for a protein shake. For example, fruit juice may cost $3, and protein may have a different cost of $2. This fruit juice combines with the protein will bring cost $5.
Decide how much you need to launch your juice bar business. Be careful early on because if you find a wholesaler near you, you can choose the product yourself: order fresh fruits, vegetables, protein, and ice cubes. You need to include counters, barstools, tables, chairs, menu boards, shelves, computers, mixers, serving cups, napkins, and straws.
7. Plan a Launch
Prepare your store for opening day. Before you are ready to open, you must have counters installed, tables and shelves installed, trained staff ready to serve customers. Before opening:
- Run several “beta tests.”
- Place orders on the computer.
- Create personalized beverage packaging.
- Teach employees how to check coupons and remove canceled orders from the computer system.
Everything must be done carefully before the launch date. Make sure everyone on your team is fully aware of how to handle this scenario.
8. Market your business
Distribute windshields and door-to-door travel brochures in your area. Reach out to local television reporters and newspapers to encourage them to talk about opening your juice bar. Other marketing strategies are:
- Social media campaigns
- Repeat the buyer’s program
- Partnerships with local nonprofits
The best business marketing strategy is to provide consistently high-quality products and friendly services. Focus on providing exactly what your customers want to make an impact in your community. Pleasant customers will talk to their friends about your juice bar and drive organic traffic to your door.
We hope this article gives you a better understanding of how to open a juice bar. If you have any questions, please feel free to ask in the comments. Put all these tips into practice to make your business prosper for sure.
Good Luck for your new journey!