Owning a smoothie franchise can be a great business opportunity for you. An investment in a reputable and established smoothie franchise or juice bar, like Smoothie Factory, will help reduce the initial costs and on-going start up risks. When considering a smoothie or juice bar franchise, the brand should have a proven track record of success and system of operations. In addition, they should assist you as you perform you due diligence in determine if their brand is right for you.
You should always check the local market and demographics prior to committing to opening a smoothie franchise. For example, is the population density and disposable income within a 3km radius of where you intend to open your store? Is a smoothie type product well known or well received in your local marketplace currently or do you have to spend a lot of advertising dollars educating potential guests? Conversely, certain smoothie franchises may require you to complete a market survey form, so they can get a better understanding of the market in which you wish to open before approving a site.
Know the exact investment cost of smoothie franchise before committing to the brand. Typical investment costs include the franchise fee, registrations, equipment, furniture & fixtures, inventory, deposits, and working capital. Knowing the exact costs is essential as you don’t want to run into cash flow issues prior to breaking even or becoming substantially profitable.
There are many advantages to joining a franchise including purchasing power, name recognition, and a proven concept and system of operations. Most often, many years of refinement has taken place prior to you joining the brand and you won’t have to make the same mistakes that occurred earlier or if you start your own business. However, being part of a franchise requires you to adhere strictly to the brands’ agreement, guidelines, and systems of operations. There is not much room or allowance for your own creativity. So be mindful of this as you pursue a smoothie franchise opportunity.
There are many smoothie franchise companies in the market. Take your time to perform your due diligence on each prior to committing. Also, it is recommended to actually talk to franchise owners of the company. One of the best questions you can ask them is… “If you had to do it all over again and franchise with ‘company x’, would you?”.
The attainment of your franchise business goals will largely be dependent on your passion and effort in your franchise business. While you may have name recognition and a proven system of operations from a smoothie franchise, your effort for building the brand and goodwill within your market area is paramount in ensuring your store’s success.
So, if you enjoy health and fitness and a quick service environment, then a smoothie franchise may be a great choice for you. Please consider the points mentioned above when making your decision if a smoothie franchise is right for you and which smoothie brand to choose.