Starting a juice shop is a great business venture for anyone with a passion for nutrition, the resilience for business, and the hard work necessary to keep at it until they make it. A juice business is friendly to new business owners because multiple models call for varying capital amounts, whether you want to start from your kitchen, a cart, truck, or storefront. Are you interested in learning more about how to start a juice business read here?
Capital is a great concern, and the good news is you can start your juice business at home for next to nothing, as little as $10,000 or as much as $400,000. The range in startup capital is due to the varying locations, sizes, and build-out costs that owners select. This article will help you solidify your juice shop from a dream in your mind to reality in black and white and eventually an actual business.
Select a Brand and Concept For Your Juice Shop
The first in your journey will be creating a brand and concept for your juice shop. The most common concepts are mobile juice carts that carry organic produce, health tonics, vitamin supplements, and milkshakes. People with larger budgets can choose a cafe-style juice shop with a menu for accompaniments and a coworking station. If you want to stand out, create a walk-in make-your-own-juice/smoothie station where your clients can go crazy and try combinations you may not have had the foresight to put on a menu. This concept saves your shop money in the long term due to savings on labor costs.
After settling on a concept, engage your personality and creativity to choose a name, theme, colors, ingredients, and service method. Ensure that your concept, logo, name, menu design, and options are all cohesive and promote the aspects of your business you are most proud of.
Write a Business Plan
Writing a business plan is the most professional way to gather all your information for presentation to prospective investors. Ensure your business plan includes a company overview and description, concept, menu, management structure, ownership structure, marketing and advertising strategies, total capital investment, and financial projections. Many websites offer free comprehensive templates for restaurants. Creating a detailed yet concise business plan that encourages investors by displaying your knowledge and preparation for the task is advisable.
Funding is the most challenging step, but once you secure it, half the job will be done. Compare the amount of capital investment in your business plan to the capital you have. Ensure you include the working costs of operating your juice shop before it begins to make a profit. Consider any lines of credit or forms of security you may have. Do not get intimidated when approaching potential investors, whether banks or acquaintances, because no one will trust you with their money if you do not exude confidence and eagerness to get started on your entrepreneurial journey.
Find a Location
Choose a location that matches your business concept and brand. Scout locations near outdoor spaces (like parks, boardwalks, or beaches), gyms, and jogging paths. It is advisable to analyze all potential options to understand their advantages and limitations before making your choice. Ensure you pick a location within the amount allotted for leasing in your business plan.
Apply for Permits and Licenses
Pinning down your location allows you to apply for local, state, and federal permits for the juice shop. You are well-advised to hire a lawyer to handle this part of the startup to ensure you do not make any costly or illegal mistakes. For a juice shop, you will likely need a business license, an employee identification number (if you plan on hiring staff and setting up a payroll), and a food service license.
Purchase Equipment and Supplies
You can begin purchasing equipment and supplies as soon as all your permits are approved and licenses issued. If you are itching for something to do before the license, seek reliable suppliers for fresh organic produce and good deals on the equipment you need—secure distributors for local seasonal produce and exotic or foreign supplies. Where possible, always opt for suppliers who provide organic, pesticide-free produce, specialty items like tropical fruits, and fair trade certified.
Hire Staff and Market Your Soft Opening
Hiring is a tough and time-intensive process. Juice shops do not require a large staff and can operate with two to five employees, depending on the size. It is advisable to bring on other types of consultants, e.g., marketing, accounting, and legal, whenever necessary. If you are not hiring employees, focus on marketing your opening as aggressively as possible.