How Much Does It Cost To Open A Smoothie King
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Who Is The Target Customer For A Smoothie King
The ideal customer for Smoothie King are millennials between the age of 16 to 35. However, we skew about 55 percent of our marketing toward women. We are a higher-priced premium product so we need customers who can come regularly and purchase our products.
Our locations are typically in areas where household incomes are average or higher. We try to target women who just started families, baby boomers, and well-established Americans.
Choose Where To Register Your Company
Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if youre planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to smoothie businesses.
If youre willing to move, you could really maximize your business! Keep in mind, its relatively easy to transfer your business to another state.
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Smoothie King Franchise Cost In 2022 Worth Profit Potential
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This article is based on its 2022 FDD
Smoothie King franchise Inc. is an American smoothie company. Smoothie King franchise primarily sells custom blend smoothies and other related nutritional products in order to propel active and healthy lifestyles.
Smoothie King was founded in 1973 in Kenner, LA by Steve and Cindy Kuhnau. As of 2012, Smoothie King was still a privately held company. Wan Kim a South Korean Smoothie King franchisee since 2002 bought the company from the Kuhnaus. Kim acquired US$58 million from the Standard Charter Private Equity and the National Pension Fund to grow the company. To succeed in growing the company, Kim had several ideas for Smoothie King. He planned to open 800 new franchises and the companys first 200 corporately-owned stores. Kim also planned to experiment with selling salads and wraps at these latter locations .
What It Costs To Open A Smoothie Franchise
At Smoothie King, we pride ourselves on being an industry leader in the smoothie bar segment. With more than 1,300 locations and over 45 years of brand equity, we continue to carve out a niche market in the food and beverage industry.
The typical investment range is between $268,900 and $858,900, which includes a $25,000 $30,000 franchise fee. Single-unit owners minimum net worth is normally $300,000, with $100,000 minimum liquidity. The investment capital is necessary to finance site build-out, signage, equipment, inventory and a variety of other expenses.
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How Big Is The Juice & Smoothie Bars Industry
The juice and smoothie bars industry is growing rapidly, with juice shops popping up all over the country. The juice and smoothie bar industry revenue is estimated to be around $2 billion.
There are currently more than 6,500 juice shops in the United States, employing over 63,000 employees, and is expected to continue growing at a rate of 1.6%.
This industry consists of establishments that primarily sell smoothies and fresh-made juices. A smoothie is a blended, sometimes sweetened beverage primarily made from fresh fruit or vegetables combined with ice, frozen fruit, or other frozen ingredients. Some juice and smoothie bars offer add-ins, like soy milk, whey powder, green tea, and herbal or nutritional supplements. Revenue from other beverage and food sales is also included.
Is The Smoothie King Franchise Right For You
A man drinking a smoothie king blend to refresh!
Now that youve learned everything there is to know about launching a Smoothie King franchise, its time to evaluate whether or not this restaurant is suitable for you. In order to do so, you can ask yourself the following questions:
- Do you have a passion for the brand? Undoubtedly, one of the most important characteristics of any great entrepreneur is passion. Success in this franchise, or any other type of business, necessitates this. As a franchise owner, you will inevitably face difficulties. Entrepreneurs that are passionate about their business are more likely to overcome obstacles and go forward because passion is the fuel that keeps you moving when you would otherwise be stagnant or give up.
- Do you have an entrepreneurial spirit and experience in sales, marketing, restaurant, and/or retail? According to their franchise candidate requirements, although restaurant experience is not really required, it is more ideal if the candidate has an entrepreneurial spirit as well as experience in sales, marketing, restaurant, and/or retail.
To determine whether Smoothie King is the best business opportunity for you, you must first examine yourself to determine whether you can completely commit to the franchisors requirements.
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Who Are The Key Competitors In The Juice & Smoothie Bars Industry
The juice and smoothie bars industry is growing rapidly, and there are many key competitors in the market. Some of the biggest players in the juice and smoothie bars industry include Jamba Juice, Smoothie King, and Juice It Up. These companies have a large number of locations across the country, and they offer a wide variety of juice and smoothie options.
Learn How Juice Bars Work
Before you open a juice bar, you need to learn the ins and outs of how juice bars operate. Juice bars are shops that serve freshly prepared beverages such as cold-pressed or fresh-squeezed juices and fruit smoothies. Other popular menu items include protein shakes, juice shots packed with vitamins, and simple food items like sandwiches and salads.
The Juice Box in New Haven, Connecticut, uses ShopKeep POS
The best way to learn how juice bars operate is by working for a juice bar. Before starting your own business, consider working for a successful juice shop to see how juices are created and what the day-to-day aspects of running a juice bar look like.
If getting firsthand experience at a juice bar is not an option, youll have to do market research from the outside. Study successful juice bars in your area including their marketing campaigns and advertising efforts, menu items, peak times, number of employees, and their operating hours.
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How Much Can I Make With A Smoothie King Franchise
Smoothie King was ranked no. 1 on Entrepreneurs annual Franchise 500 list, so many people clearly regard it as a lucrative franchising opportunity. They have a simple core product offering and a cost-effective POS system for making sales. Franchises also partner with vendors to keep supply costs competitive and prices affordable.
Smoothie King does not publish official data about per-location revenues, but we can do a bit of math to figure out the average revenue per store. In 2020, Smoothie King managed to generate approximately $415.7 million. Smoothie King currently operates 1,195 shops worldwide, so doing the math, that comes out to an average annual revenue of about $347,866 per store.
That number is just a simple average though and may not accurately represent the total potential revenue for a particular location. According to Smoothie King corporate, the top 25% of locations in sales produce an average annual gross revenue of $793.459.
Smoothie King locations also tend to produce more revenue each progressive year. Same-store sales increases were an average of about 5%. It is true that store sales have faltered a bit in the past 4 years, but locations have shown consistent sales growth for the past 7 years straight.
All that is well and good, but how much can you, personally, expect to make from owning a Smoothie King franchise?
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How Much Can I Charge For A Smoothie At My Business
This is a question we get asked a lot here at SmoothieCompany.com.
How do you structure your pricing for a smoothie at your business? Well, there are a lot of variables so lets get started.
1. What is your surrounding population like?
Do the individuals value inexpensive, processed, foods? Do they appreciate a more natural product that still tastes great? Or do they prefer all organic items made at home? Knowing your customer and the depth of your target market is the first step in calculating how much you can charge for a smoothie at your business.
Often, our customers can say that they are located in a wealthy neighborhood so they assume they can charge premium prices but weve found that thats not a deciding factor in forecasting for business. Millennials spend more money on food than ever and value a more natural product but do not necessarily live in the most affluent neighborhoods. Wealthier neighborhoods tend to have families, which means your customers may be more interested in going home to cook traditional meals instead of opting for a smoothie. It all depends on what your available customers value personally.
2. What products do you plan to use?
Are you planning to add protein? A quality powdered protein is valued in Western culture. Weve been taught to include protein in our diets over the last decade so increasing the selling price of a smoothie by at least $1 for 10-20g of additional protein is common practice.
4. What is your cost of goods?
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How Much Does It Cost To Open A Smoothie Shop Toasttab
Cost of Opening a Smoothie Franchise. If you decide to go the franchise route, expect franchise fees along with standard restaurant opening costs. With an average of $25,000 $30,000 in fees, opening a smoothie franchise like Smoothie King costs between $250,000 $850,000+. Smoothie Shop Opening Cost by Square Foot.
Write A Juice Bar Business Plan
Writing a business plan is the next step in the process of opening your juice bar. Dont skip the business plan, even if you think you have all the details of your business memorized. Its a professional way to gather all your important info in one place and present the idea to potential investors. Your juice bar business plan should contain the following sections:
If you want to learn more about writing business plans, check out our comprehensive restaurant business plan guide.
Different Types Of Commercial Juicers
There are three main types of juicers, each with different purposes and price points. For your business you may decide you just want one type, or all three. The three types are:
- Centrifugal juicer: Fast juicer for juicing fruits and vegetables . Also most affordable type of juicer.
- Masticating juicer: Juices all kinds of fruits, vegetables, and greens at a slower rate, producing higher volume of juice and extracting more nutritional value from foods.
- Triturating juicer: Slowest, yet highest-yielding juicer. Best for leafy greens.
Choosing The Right Juice Bar Matters
When choosing a juice bar franchise, it’s important to choose a business with an updated menu, flexible business plan, and the highest-quality ingredients. It also makes a big difference when you work with a franchisor who is willing to help you with the opening process from start to finish.
At Pure Green, we’re on a mission to help people achieve their optimal nutrition. Customers can choose from 12 cold-pressed juice flavors, 6 cold-pressed juice shot flavors, smoothies, acai bowls, and pitaya bowls. All ingredients are sourced with optimal health and sustainability in mind. Started by Ross Franklin, Pure Green is ahead of the curve.
Expand your potential by partnering with the Pure Green Franchise team!
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How To Start A Smoothie Business
Smoothie bars sell blended fruit drinks, health food bowls, and juices to patrons. Theyre typically found in busy shopping centers or fitness clubs as a way to introduce fresh options to a fast-food laden culture. Smoothie bars rely on premium ingredients and inventive combinations to appeal to people who dont want to sacrifice taste for health.
Learn how to start your own Smoothie Business and whether it is the right fit for you.
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Is This Business Right For You
A good smoothie bar owner should be interested and up-to-date on the health foods movement. New research comes out every day about how nutrients interact with our bodies, and an owner will need to be able to keep up with the changes to stay in business. Ideally, an owner will have plenty of experience making their own smoothies at home. They should also be able to pick up on the nuances between their direct competitors, so they can determine how to make a superior product.
Want to know if you are cut out to be an entrepreneur?
Take our Entrepreneurship Quiz to find out!
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Juice Bar Soft Opening
Before your official grand opening, it can be helpful to plan a practice run. A soft opening is a modified opening that gives your team the opportunity to test out the flow of service. You can observe potential hiccups and get a better idea of what processes may need to be improved before the big grand opening. Here are some tips for planning a soft opening of your juice bar:
- Friends and Family Night – Invite friends and family of your staff for a sneak peek opening. Its a good way to ease into things because theres less pressure when you know all the guests.
- Neighborhood Meetup – Send soft opening invites to neighboring businesses and residents. You get to meet all your neighbors and get the word out in your community.
- Limited Menu – For your soft opening, it can be helpful to start with a small limited menu. Instead of offering all juices on your menu, you could showcase three different juices. Its less stressful for your employees when you start small.
Place The Checkout Counter
A well-placed checkout counter will open up your floor space and allow for lines and waiting areas that dont interfere with seated customers. Most juice bars find success by having seating areas toward the front of the store with the counter for ordering and payments toward the back. In traditional retail store layouts, the inside right wall is your power wall or display.
With a juice bar, the power wall is your menu. The left side of the store, which typically gets the least amount of foot traffic and visual attention from customers, is a great spot for customer seating.
If you enter through the main entrance door, youll find that to your left are your lowest ticket zone: the seats and tables. Then right down the middle and just to your right is where you line up to place your order . Starbucks have this down to a science. While their layouts do have variations, the basic formula of slowest, to medium speed, to fastest laid out from left to right is the reason why many of their stores pull in about 80% of their gross sales from drive-thrus.
Thalia Toha, brand and business strategist, Thalia Toha Group
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How Much Does It Cost To Open Smoothie King Franchise
Do you want to open a juice bar business by buying Smoothie King franchise? If YES, here is how much it cost to open a Smoothie King franchise successfully. The juice and smoothie bar franchise segment in the United States is ripe for investment. The rapidly growing industry is expected to outgrow $3 billion in 2022. For smoothie bars, high product demand, coupled with low overhead costs and simple operations, can align together to create an unparalleled business opportunity.
Many prospective smoothie bar owners seek out turnkey franchise models, which offer them a pre-determined investment range that clarifies initial expenses and ongoing operational costs. However, Smoothie King is here to offer that and a lot more.
Smoothie King is a privately held New Orleans, Louisiana based Franchise Company and it is the premier Smoothie Bar and Nutritional Lifestyle Centre in the industry. Smoothie King Centres offer their guests the industrys first and original nutritional fruit and function-based fresh blended smoothies.
Each Lifestyle Centre also offers healthy retail product solutions in sport beverages, energy bars, healthy snacks, vitamin supplements, and herbs, minerals, and sports nutrition products.
Right from 1989, Smoothie King was been proclaimed #1 franchise in their category 16 times. Smoothie King has about 600 locations operating in the continental US and Seoul, Korea and is presently developing additional stores across the United States.