Juice Bar Business Plan: How to Open a Juice Bar
Juice bars offer fresh squeezed fruit juices to customers looking for a nutrient rich drink. According to WebMD, both juicing and blending smoothies can offer several health benefits since they can help you fit in more servings of healthy fruits and veggies every day. Both can help fight against heart disease by lowering your blood pressure and bad cholesterol. With more and more people looking to improve their health, smoothies and juice bars are a $2.5 billion industry seeing steady growth as consumer demand for healthy food is on the rise. If you are thinking about opening a juice bar, there are many details to orchestrate before becoming operational.
Juice Bar Business Plan
Step one is creating your juice bar business plan. This is the best way to organize your ideas. There are many business plan templates available including one from the U.S. Small Business Administration that walks you through a checklist. It will include your executive summary, company description, name, menu, ownership structure, staffing, marketing, advertising strategies, and financial information. Organizing your business is not only important for you, but it is a necessary tool if you will require outside financing through a lender or partnership.
Prior to opening a juice bar, you will need documentation. It’s best practice to enlist the help of an attorney to ensure you’ve properly registered and your business has all the necessary legal documents.
You will need a business license to legally operate as a U.S. business. These are state mandated. You will need to obtain an employee identification number or EIN to hire employees. Plus, because you are a food service operation, you will need a foodservice business license. This will require an inspection showing you have met food safety protocols.
New business owners often want to know if it’s better to be an LLC or Sole Proprietorship. Experts say a sole proprietorship is ideal for smaller, low-profit and low-risk businesses, but beware, having a sole proprietorship doesn’t protect your personal assets.
An LLC, on the other hand, is the best choice for most small business owners because it does protect your personal assets.
Studying the Customer Base
Knowing who your customers are and how to reach them is vital to your success, which is why conducting a market analysis to identify your customer base is essential. You will want to analyze the key demographics of the typical audience a juice bar attracts. Experts say narrowing this field will serve you well against your competition in the marketplace.
The U.S. Census Bureau website will help with targeting your audience. That will not only assist with advertising but this research can help with site location as well. You will want to place your juice bar in the best location to easily attract your target customers.
Look at market trends by joining the local chamber of commerce, these are community experts in a position to provide valuable guidance. Plus, other members can provide sound advice as a new business owner with the ability to network with other entrepreneurs.
Marketing Your Juice Bar
You can hire outside experts to do your marketing or go it alone. First you need to create a website. You might consider writing a blog for brand awareness. Blogs can build SEO (search engine optimization) to increase your audience. Getting a broader reach to advertise your new business is a must. Digital advertising is crucial to your success so you may want to have a presence on many social media platforms or target the key platforms that zero in on your potential customers.
Experts estimate the start-up for a juice bar ranges from $25,000 to $400,000 depending on location, construction costs, lease, etc. Prices will vary depending on the footprint of your location. For example, if you will be renting space in a gym or fitness center your costs will be lower than purchasing real estate and constructing your location from scratch. You may also choose to be a mobile food service like having a temporary kiosk, or food truck. You need to also determine if you want to provide a retail stand or delivery service. Costs are dependent on these factors.
You will also have to pay for permits, licensing, assistance from accountants and lawyers, equipment, inventory and payroll. Again, the specifics of these costs is dependent on many factors.
The number of employees you hire varies greatly. Determining your staff will depend on your hours of operation. You must figure out if you want part-time or full-time employees, plus, will you be working alongside them or serving in a managerial role.
No doubt your menu will include a variety of fruits and vegetables. You may want to source from local growers whenever possible and otherwise utilize frozen fruits and vegetables during off season. You will need to base your supply on customer demand and cost. Fresh ingredients typically have the best flavor but frozen produce can also be rich in nutrients.
Certainly, there are many laws governing safe food handling. The Food and Drug Administration provides guidance over food service establishments as well as local health officials. Sanitation certification can be obtained through ServSafe. You can also obtain information from Restaurant Associations and the FDA Food Code.
To ensure you are following the health and safety regulations to avoid potential penalties, you will meet with your local health department. Local health officials may include routine inspections to make sure you are complying with proper sanitation practices. They will also guide you to assist with necessary protocols and regulations.
Franchising with SoBol
Coming up with a plan for your juice bar is quite involved. Something to consider is investing in SoBol- a franchise specializing in acai bowls, green bowls, pitaya bowls and fruit smoothies. We don’t just provide healthy food, we take it a step further. We want to provide super cool food and awesome experiences to improve people’s day.
As a franchise, we’ve done all the heavy lifting. You don’t have to start from scratch with all the steps listed above. As a franchisee you utilize our proven business model and brand name as we guide you through your business ownership experience.
If you are interested in learning more, sign up to receive additional information about owning a SoBol.