Juice is a growing segment in the restaurant business. Consumers are becoming increasingly concerned with health and wellness, so juice and smoothie bars are a natural fit for this niche. According to IBISWorld, the juice and smoothie bar industry brings in about $2 billion per year, experiencing a steady rate of growth over the past five years. That growth is also due in part to the thriving fitness industry.
According to IBISWorld, operators have adapted to rapidly changing consumer preferences, moving away from high sugar content of some smoothies and juices toward offering cold-press juice, which is made by hydraulically chopping and crushing produce such as spinach, kale, and ginger without using heat, thereby yielding highly nutritious juice.
Juice and smoothie bar franchises are an innovative and evolutionary response to an emergent food trend focused on fresh ingredients, natural tastes and flavors, elevated nutrition, and powerful superfoods. They also appeal to millennial consumers who are seeking healthy choices and healthy living.
For millennial entrepreneurs interested in being a part of this growing industry, here are some franchise opportunities to consider.
A Juicy Opportunity
Juice It Up is a raw juice bar. With nearly 100 locations across California, Arizona, New Mexico, Oregon, and Texas, customers have flocked to Juice It Up. What began as a customer profile of young professionals on the go has exploded into a widespread cross-section of customers. Juice it Up continues to attract and win over guests of all ages, sizes, and demographic backgrounds.
Juice It Up offers a variety of different franchise opportunities. Applicants should have a strong business background, including previous restaurant ownership or management experience. Fees can vary based on the type of franchise, with initial franchise fees ranging from $10,000 to $25,000. The total investment ranges from $249,550 to $343,726.
However, Juice It Up has relationships with third-party sources that offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll, and $15,000 off franchise fee.
Jamba Juice has been the franchise to watch both because of its leading market share and its innovation. It has cleverly billed itself as a “healthy, active lifestyle brand,” appealing to young professionals and athletes such as tennis great Venus Williams, who owns four Jamba Juice franchise locations in Washington, DC.
Jamba Juice may be the quintessential millennial brand as its marketing strategies have been especially successful in attracting the all-important millennial crowd with products the demographic seems to crave.
The initial franchise fee is $10,000 to $25,000 for a traditional store, but that drops to $5,000 for nontraditional stores located on college or university campuses, and $2,500 for a standalone kiosk. Total investment can run anywhere from $200,000 to $500,000. But Jamba Juice does not provide financial assistance. At best it can introduce potential owners to lenders familiar with the industry.