![]() ![]() Once you have those figures, subtract your fixed and variable costs from your expected monthly sales-the result is your estimated cash flow. It’s always better to bring in more money than expected than to come up short. Be as realistic as possible and err on the side of caution. The most difficult part of setting your budget is estimating your monthly sales after you open. Variable costs are more fluid, like the cost of juicing ingredients or marketing campaigns. Fixed expenses are things like your storefront rent payment or your phone bill, which will not frequently change. Then, determine what your monthly fixed and variable expenses are. Consider storefront costs, construction costs, juicing equipment, license and permits, etc. As such, you need to figure out how much you can invest and how much outside funding you’ll receive, and then create a plan for covering all of your expenses.įirst, determine how much money you will need to open your business. Your business likely won’t make a profit for months-if not years-after opening. But creating some roadmaps and guidelines is still important to ensure your cash flow remains healthy. Step 2: Create a Budgetīudgeting for your future business will be more of an educated guess than an exact science. Study successful juice bars in your area, including their marketing campaigns and advertising efforts, menu items, peak times, number of employees, and operating hours. ![]() ![]() If getting first-hand experience at a juice bar is not an option, you must do market research. Before starting your own business, consider working for a successful juice shop to see how juices are created and the day-to-day aspects of running a juice bar. The best way to learn how juice bars operate is by working for a juice bar. (Source: Huntsville/Madison County Convention & Visitors Bureau) A look at the kitchen of Juice Bar in Huntsville, Alabama. ![]()
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