Audience[ edit ] Business plans may be internally or externally focused. Externally-focused plans draft goals that are important to outside stakeholders, particularly financial stakeholders.
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.Writing a Business Plan Georgia State SBDC 2 Why Write a Business Plan? A Business Plan helps you evaluate the feasibility of a new business idea in an objective, critical, and unemotional way.
Financial Advisor Success: Goal Setting with a Business Plan. One of the biggest mistakes financial advisors make is not having a Business Plan with detailed goals for growth.
They are too busy working in the practice doing the day to day activities of running a practice that they forget to stand back, look at the big picture, and plan their business success. Cafe Business Plan. This sample cafe business plan is free for you to download and use as a basis for developing your own unique cafe business plan.
Back to Business plans and cashflow Writing your business plan Example of a business plan Example of a cashflow A finance provider will review any business plan submitted; it is essential that your plan relates to your business and you do not rely on a generic document.
A finance provider will. Bar Business Plan Template. Buy Now We have Business plan templates in Word designed for every business like Business plan templates for startups and business plan templates for MNC’s, business plan templates for restaurants.
Every design is unique in its own right. Giving a detailed account of the business idea; Personal Business.
Editor's note: This article was excerpted from our Bar & Club startup guide, available from the Entrepreneur Bookstore..
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