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Tips For Opening A Juice Bar Franchise
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Juice Bar Business Plan Sample [2023 Updated]
From COVID-19 lockdown to businesses trying to recover from the setback it brought worldwide, to protests and, political pandemics like a ban on Twitter in Nigeria, the need for building resilient systems within your business is now more …A juice bar uses fresh ingredients to prepare smoothies and a wide variety of juice drinks. Many juice bars also offer other types of health food products and some provide seating for their customers to enable them to socialize while enjoying their products.
There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your juice bar. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
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Opening a juice bar business can be done with less than $10, 000 including the necessary business licenses, permits and insurance. The cost depends on whether your juice bar will be a part of another business such as a fitness center, or whether it will be a stand-alone store. You will need to rent space that includes a sink for washing and preparing the fruits and vegetables. The cost for a basic juicer is approximately $100, while cold-press machines cost about $300. Vegetable juicers are more expensive, starting at $2, 400. You will also need a supply of cups, preferably biodegradable, which, if ordered in bulk, can cost less than twelve cents each. Straws are also a staple item at most juice shops.
Read our juice bar purchasing guide to learn about the materials and equipment you'll need to start a juice bar, how much to budget, and where to make purchases.
A juice bar business makes money by charging customers for fresh, quality juice-based beverages. Pricing depends on the ingredients, time, skill, and expertise it takes to purchase and prepare these drinks. Many juice bars partner with health food stores to provide other healthy food products as well.
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Most juice bar owners try to keep the cost of ingredients down to about 30 percent of the retail price to be able to cover ongoing expenses and realize a profit. A juice drink containing several ingredients can cost anywhere from $6.00 to $16.00, depending on the cost of ingredients and the local economy. Organic ingredients command a higher price.
Adding extra healthful ingredients such as bee pollen or spirulina for an additional charge can increase profits. Providing healthy foods, such as salads, which are made from the raw ingredients of your juicing products can also be lucrative. Some juice bar owners also contract with local event coordinators to provide food and beverages for community and sporting events.
Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Juice Bar Name Generator
How To Open A Juice Bar In 11 Steps
If you operate a sole proprietorship, you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.
Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your juice bar is sued.
You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.
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Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services. You can choose to hire a registered agent or act as your own.
You can acquire your EIN for free through the IRS website, via fax, or by mail. If you would like to learn more about EINs and how they can benefit your LLC, read our article, What is an EIN?.
Learn how to get an EIN in our What is an EIN guide or find your existing EIN using our EIN lookup guide.
Starting A Juice Bar Business In The United Kingdom
Depending on which business structure you choose, you might have different options for how your business will be taxed. For example, some LLCs could benefit from being taxed as an S corporation (S corp).
There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.
When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil.
The Juice Bar Business Plan: Discover How To Start A Successful Juice Bar Business: Armstrong, Simone: 9781530479375: Amazon.com: Books
Additionally, learning how to build business credit can help you get credit cards and other financing in your business's name (instead of yours), better interest rates, higher lines of credit, and more.
Net 30 accounts are used to establish and build business credit as well as increase business cash flow. With a net 30 account, businesses buy goods and repay the full balance within a 30-day term.
NetMany net 30 credit vendors report to the major business credit bureaus (Dun & Bradstreet, Experian Business, and Equifax Business Credit). This is how businesses build business credit so they can qualify for credit cards and other lines of credit.
How Much Does It Cost To Open A Juice Bar (2023 Data)
Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.
Certain state permits and licenses may be needed to operate juice bar business. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits.
In particular, most states also require retail businesses to obtain a seller’s permit. A seller’s permit allows states to record and collect taxes from goods (and sometimes service) sales.
What Equipment Do You Need To Start Your Juicing Business
Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses.
Juice bars may be randomly inspected by the local health department on a regular basis. These inspections will check for compliance with local health laws, typically related to prevention of food contamination.
In addition, certain local licensing or regulatory requirements may apply. For example, an juice bar will need licensing from a local health department, which will vary from town to town.
The Ultimate Guide To Juice Bars In Boston
A juice bar is generally run out of a small retail location. Businesses operating out of a physical location typically require a Certificate of Occupancy (CO). A CO confirms that all building codes, zoning laws and government regulations have been met.
Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.
There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance.
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