In difficult economies, people still want to remain healthy. More often than not, most juice bars focus their efforts on providing a number of juice and smoothie concoctions that are geared towards people that are health minded. As such, these businesses are able to generate substantial profits given that there are extremely high gross margins from the sales of mixed juices and smoothies. The startup costs for a new juice bar are considered moderate.
In difficult economies, people still want to remain healthy. More often than not, most juice bars focus their efforts on providing a number of juice and smoothie concoctions that are geared towards people that are health minded. As such, these businesses are able to generate substantial profits given that there are extremely high gross margins from the sales of mixed juices and smoothies.
The startup costs for a new juice bar are considered moderate. The exact amount primarily depends on the location and size of the initial business. In more rural areas, these businesses require far less startup capital. The biggest expense for a juice bar is primarily its ongoing rental expense.
When you have decided that you want to start a new juice bar, the first step in making your dream a reality is to develop a comprehensive business plan. Not only will this document help you in determining how much capital you need, but it will also assist you in determining your underlying expenses as well as your anticipated return on investment.
This is especially important if you intend to source the capital you need from a private investor. Additionally, if you intend to acquire a bank loan then you will most certainly need a business plan as well.
With very limited exceptions, all banks require a formal three to five year business plan that showcases what you intend to do with the money you are raising, a profit and loss statement, balance sheet, breakeven analysis, and important ratios.
Once your have developed your business plan, you should take it to a CPA to ensure that your figures are in line with that of industry standards. As it relates to launching your juice bar operations, raising the necessary capital is usually the most difficult part.
For most entrepreneurs, the first step is to approach a local bank for a conventional or a business loan. For food and beverage businesses, most banks are reasonable when it comes to startup businesses. However, you should be prepared for the fact that more often than not, a financial institution is going to want to primarily lend money for the tangible assets of the business.
Most banks do not make large scale working capital loans or lines of credit available for startup juice bars. However, there are exceptions. If you are willing to put up other forms of collateral - such as owned real estate - as part of your loan offering then you may be able to receive significantly more working capital.
If you source your juice bar funds from a private investor then you are going to have to part with a sizable percentage of your company. When are determining how to finance your business, you are going to need to determine which source of funding makes the most sense given your financial situation.
Your CPA should also work with you to determine which type of corporate entity is most appropriate for holding the assets of your juice bar. In most circumstances, a CPA or equivalent professional will recommend that you use a limited liability or S corporation.
If you intend on having business partners, then a LLC will be the most likely choice given that these entities can operate in a similar capacity to that of a partnership coupled with the protections of a corporate entity.
A CPA will take a look at your entire financial picture in order to determine which type of business entity should be used.
Once your corporate entity has been registered, you are going to need to apply for the appropriate state and municipal licensure in order to operate your juice bar.
Usually, you will need a food serving license.
An individual from the local health department will generally review your facility in order to issue the license. In some states and cities, a letter grading system is implemented in order to indicate the level of cleanliness quality associated with the juice bar.
The licensing procedure varies greatly from state to state as well as from city to city. You may want to have an attorney assist you with this process as there is a substantial amount of paper work involved.
Your and managers of your juice and smoothie bar business may be required to take classes regarding safe food handling procedures. Once your licensure is acquired, it is time to start the steps necessary to begin operations. Foremost, you are going need to selected a juice bar point of sale system or POS system.
This is an extremely important decision for your business given that this system will be used in perpetuity. Given the level of competition within this industry, there are many options available from a number of different vendors.
Generally, you are going to need to have a touch screen point of sale system that takes orders, processes them to juice bar employees, and then accepts payment via cash or credit card.
Your CPA will be an invaluable resource as it relates to determining which system will work best for your juice bar operations. Next comes the build out of your juice bar retail location. You can anticipate that it will take one to three months to complete the work depending on whether or not the facility has been previous used for a food and beverage business.Fiverr top rated seller will provide Business Plans services and Deliver a juice bar business plan within 2 days/5(94).
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