According to a report by Business Gateway, the Juice and Smoothie Bar market in the UK reached an estimated profit of £5.1 billion in 2017. The market grew by 6.6 per cent from 2012 to 2017. There are high expectations for the industry in the next five years, which is seen to increase an additional 5.4 per cent by 2022 to 2023.
The juice bar industry will be profitable even four years from now due to the increasing number of people concerned with their health. People are turning to healthier food alternatives, like organic fruits and vegetables and all-natural fruit juices.
Starting a juice bar now ensures you’ll have a lucrative business venture that’ll also help people follow a healthy lifestyle. But what do you need to do to start your own juice bar?
The Basics of a Juice Bar Business
Like any business, a juice bar requires considerable research and planning. You’ll need market research to guide your decisions, from which beverages to serve to how much to invest. Then you’ll need to determine the costs involved, your pricing, potential earnings and market strategy.
You’ll also need to decide on the following:
- Strategic location
You need a strategic location to put up your juice bar. Malls, gyms, airports and supermarkets are typical locations for this type of business. They’re typical because these places get heavy foot traffic. There are, however, other locations where juice bars are not expected.
Parks, zoos, concert venues and train stations could also be potential locations for your business. Although non-traditional, these places still get plenty of foot traffic. The advantage is that your juice bar will be one of few, if not the only one present in those locations.
Another way to determine a location is to look into which places are keen on their health; which neighbourhoods have the most health-conscious residents.
- Standard equipment
The equipment you need will depend on the beverages you’ll serve and the kind of juice bar you’ll have. Are you going to offer cold- pressed juices and smoothies? Will your juices be vegetable based? Will your juice bar double as a cocktail bar in the evening?
You’ll need the standard equipment, from the high-speed blenders and cold displays to the fridge and smoothie makers.
You can turn to a service that provides juice bar equipment, so you can get all of your juicing equipment in one place.
- Find trusted vendors
Your entire business depends on freshly grown fruits and vegetables, so you need a vendor you can trust. If your branding your juice bar as organic, then you’ll need certified organic farmers to supply you with what you need. You need the best growers that can demonstrate professional quality control, has a wide range of produce and one that can meet all of your orders, from fruits to vegetables.
The healthy food industry offers lucrative opportunities, and the juice and smoothie bar market looks to be profitable. With a projected increase by 2022 to 2023, you could see a good future as a juice bar owner.