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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.Free Juice and Smoothie Bar Business Plan For Raising Capital from Investors, Banks, or Grant Companies! Please note that the financials in this complete free business plan are completely fictitious and may not match the text of the business plan below.
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Bar Business Plan Template – 8+ Free Sample, Example, Format Download! People drink daily, and this means there is a booming business in the bar sector. With this simple hint, it is highly likely that you are already wishing that you had your own bar in place.
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Change the Script. Change the Script is a statewide program that connects town leaders, healthcare professionals, treatment professionals, and everyday people with the resources they need to face prescription drugs and opioid misuse. Bruderheim School receives funding for new technology.
Sherwood Park, A.B. — Bruderheim School will soon be receiving an influx of new technology, thanks to a $25, Science, Technology, Engineering, and Mathematics (STEM) grant from Shell Canada.