A typical image of the young entrepreneurial spirit is children running a lemonade stand in the summer. They create a product that responds to a need in the community. Their business is small, but they make a profit. Selling juice does not seem like such a big deal, but when you compare it to real-world business, it can be lucrative. How many types of companies run solely by selling drinks? There are tea shops, shakes, and bars. How did those businesses expand? They created franchises. Others developed their menu. When a juice bar is done well, it can lead to bigger things.
Create your business plan
While children don’t need to make a business plan for their lemonade stand, any real business needs to have an outline about their objectives and strategies. Study your market, know who you will be competing against and who you are targeting as an audience. You can make your juice bar like a community hub, where people can meet up in groups. You can focus on attracting a younger crowd, creating a cartoon-like mascot. Or try the more popular option, having juices with health benefits for those who want to be fit, but don’t have the time to do it on their own.
Also look at what kind of storefront you want. Locations that are close to workplaces, gyms, and schools guarantee heavy foot traffic. Even if you’re going to cater to a specific group, do not underestimate the possible outliers that come from people who pass by your store.
Source your materials
After you have all the plans drawn up its time to produce your product, you do not need to have hand-squeezed juice, not always. Depending on your branding, you can work with juice mixes or look for. One of the issues with having a juice bar, or any food and beverage business, is the perishables. Buying fresh fruit has benefits, but if you overstock or do minimal business it could become a liability. If you decide to go with fresh produce, you can minimise your menu to your top 3 or 5 juice blends to ensure that nothing goes to waste.
If you have a great blend and exciting ideas, tell the world. As much as a business is recognised for its products, good advertising can make or break your business. To get the ball rolling, you can have a soft opening, host an event, or have a strong social media presence. If cafes have their spoken word, your juice bar can have a game night. Give the people a reason to come, besides slashing prices. It is a more effective method for getting people’s attention rather than the typical flyer and internet ads. Do what you can to create a personality that engages the community. Your goals and philosophy need to be at the forefront of your marketing plan; this is why the business plan is essential.