Category Archives: Finance

5 tips for getting started in the cold-pressed juice business

Opening a juice bar seems pretty straightforward. You make juice, and then you sell it. A Juice Shop Business Plan, in short. There are some things you need to understand before you can fully open and function. After working alongside hundreds of new juice companies, I’ve put together a list of tips to help you avoid several common problems.

Some tips for getting started in the cold-pressed juice business

1. Find out about local health regulations for raw juices.

The laws regarding raw juices differ considerably by region. For example, in the United States, the FDA specifies that raw juices can be sold directly to consumers by retail or delivery, but not wholesale to third-party vendors for resale. If you want to wholesale, you have to process the juice by pasteurization or by HPP. However, you can manufacture your juice at a central site and sell it in several shops if your company has both the production unit and the points of sale. It is still direct sales to the consumer. (Under federal law, but local / state regulations may vary, and some are changing.)

Many countries have the strictest laws I have come across. A company must manufacture its raw juices at the very place where it sells them. By comparison, countries like Australia or China have virtually no regulations on raw juices, and their companies are free to wholesale as they see fit. Given the growing popularity of fresh juices, I wouldn’t be surprised if some regions with more lax laws toughen their regulations shortly.

The easiest way to find out about health regulations is to contact your local health department.

2. Decide on the business model to use.

There are four main business models in the juice industry: distribution only, physical point of sale, wholesale, and a combination of all of these. Each business model has its advantages and disadvantages. Choose the type of business you want to start and raise the necessary funding. Whatever economic model you choose, it is important to choose to know where to focus your energy.

Expert tip: Start with delivery or a physical point of sale, but ultimately look to combine these models to provide consumers with multiple purchasing options for your product.

3. Gear up the right way.

Prepare for your success. Make the requisite investments in your company’s equipment. Sometimes it is tempting to save money and buy cheap equipment, but you will lose out on labor costs and waste, which will end up costing you more. Your juice extraction equipment will undoubtedly be your major investment.

4. Determine the type of bottles you want to use.

Choose between glass or plastic, then find a supplier. You can easily buy Bisphenol-A free plastic bottles from our Bottle Up! “.

Most professional printing companies such as Tapecon can print bottle labels. The type of bottles you’ll be using must be specified to the supplier: PET plastic, glass, and other materials; also, whether they are round or square and the size of labels needed. Be sure to get all labeling requirements from your local health department. You can order nutrition labeling services here.

Expert tip: Glass bottles are ideal for giving your product a high-end feel and avoiding putting your product in contact with plastic. However, the glass comes at a cost. Only go for glass if you are selling an expensive, high-end product.

5. Master the numbers:

There is a great temptation to concentrate all the known superfoods in each Bottle. However, unless you live in an area where people are willing to pay $ 25 per Bottle, a business cannot survive that way. The cost of the ingredients you put in each Bottle should not exceed 25-30% of the final product price.

In addition to the cost of food, you need to manage your labor, packaging, and overhead costs to align with your sales.

SUCCESSFUL SERVICES PLAN FOR YOUR HAIRDRESSER

That’s it; you have actually determined to go for it. Your passion is itching, and also you wish to practice your hairdressing skills on your own.

Yes, you are talented, however you can not simply wager your success on your skills. The hairdressing salon market is very tight. You will certainly have to create a very detailed service plan not to make any kind of errors and make sure enough monetary success.

Hairdresser or hairdresser at home

Prior to opening a hairdressing salon, know exactly how you intend to exercise your career: do you want an irreversible hairdressing salon, an address, a brand, or you want to delight in the status of freelance in yourself? Including developing a hairdresser in your home?

Stylist at home

Suppose you want to be flying without premises. In that situation, you will require to obtain a minimum of tools (car, water tank, etc.) as well as carefully examine your market due to the fact that, without a client, your company will certainly be destined failing.

To do this, do not think twice to perform a tiny market research study (telephoning, a study in buying locations), to fulfill neighborhood elected officials if you remain in the countryside, and also to request for a helping hand from the Chamber of Business as well as ‘Industries.

Caution! Lots of launch themselves under this flying standing and also generate only moderate revenues: it needs to be said that the target clientele is usually made up of people with lowered movement and workers in a hurry.

Likewise, note that the career is much overseen. You will certainly need to hold an expert certificate in the absence of premises, a hairdressing master’s certificate, or a capacity issued from an equivalent diploma.

Additionally, keep in mind to consult our guide to required signage in hair salons to be adhering to the legislation.

Stylist

Now, expect you wish to establish on your own at a physical address. In that instance, you will require to refine your documents and also prepare an extremely detailed salon company strategy to get the required funding to establish your task.

The selection of location will be definitive for your organization’s future success: a place on a busy road will certainly cost you a lot more in rent however will naturally bring in customers. On the other hand, a different area back will permit you to take advantage of a reduced lease however call for a bigger advertising spending plan. Our specialists will certainly help you with lighting your strategy for having consumers and also keeping an effective customer base prior to starting a barbershop organization strategy.

A stationary market

If the turnover of the industry stayed stable at 6 billion in Dallas in 2013, the truth remains that the turnover in quantity is experiencing a descending trend.

To put it simply, the number of beauticians has boosted, and all share the very same pie, hence a decrease in earnings per service. These are usually household companies that can not find customers.

It is necessary to also mention that hair appointments have drastically lowered to 4.7 times annual for women, and men have risen to 7 times in seven years

Additionally, intend the trade convention under banners are doing well by using extremely competitive price routines. In that instance, they represent 15% of the industry and capture 30% of turnover– they are likewise required to make up for this loss in volume by offering services. Comparable looks such as manicures, facials, or the sale of extra items (shampoos, designing, etc.). These represent around 10% of trade fair sales. Not to be overlooked in your deal.

Framework of your approach

As you will certainly have comprehended, you are not tackling an activity without a competitor, and also you will have to arm on your own to do well.

You will certainly require to research some factors, generally to have an effective hairdressing beauty salon organization strategy.

1. Establish marketing research

Begin by doing market research study to stay on top of brand-new fads. The most effective means to do this is to obtain closer to the sector’s federations and the neighborhood union branches.

Then analyze the competitors: variety of beauticians, catalog, placing, services, as well as kind of clients.

Then analyze the kind of customers in the location where you want to clear up: needs, frequency of gos to, conference times, typical spending plan.

Using this info, you will certainly be able to develop your positioning as well as your prices policy to produce a feasible service in the long-term.

To calculate your cost rate, you will need to take into consideration numerous elements such as the salon’s standing, your architectural expenses, your salary expenses, and so on

2. Provide information of your business possibility: acquisition of a beauty salon with existing consumers, creation of a business, or branding.

If you want to take over an existing company, consider researching the opportunities to hire as well as manage an existing company. This recuperation technique permits you to reduce the amount to be spent at the outset drastically in return for rent paid.

3. Establish your funding requirement

This is where you ought to not go wrong since if you underestimate your funding needs, you will quickly find yourself in problem.

As a sign, the typical expense of an installation is 52,000 Dollars for recuperations and also 48,000 Bucks for pure hairdressing hair salon productions.

Take care; these numbers conceal rapid differences depending on your installment approach: count 52,000 Dollars for an independent salon and also approximately 111,000 Bucks for a franchise business.

Also, the area of implantation, rural, city, big cities, can modify the amount of investment called for.

Your expense framework will certainly depend partially on your options in regards to investment (purchase vs. service or lease), your advertising and marketing method, and also your staffing needs.

4. Be vigilant with professional regulations

Your hair salon needs to be put under the efficient control of a certified expert. There is just one exception: for towns of less than 2,000 citizens, beauticians for men can exercise provided that it is a supplemental revenue activity.

Do not neglect to get insurance coverage to cover yourself against dangers associated with property (criminal damage, theft, water damage, and so on), to your customers (skin response to an item, burglary of a main, and so on), your task (occurrence, work stoppage, and so on) and also your workers if you take any kind of.

As you can see, grasping the art of hairdressing alone can not guarantee your financial success. So before you begin, take the time to develop a solid service plan for your hair salon.

Make your business plan

Make your business plan

Making a  business plan (or business plan ) consists of writing a solid presentation of the business creation project. This is the first realization of your project!

This useful and fruitful work will allow you to measure the maturity and level of completion of your project, to verify its realism and profitability, and above all to convince your contacts to follow you and support you: your relatives, your partners; let’s know the importance and purpose of preparing a business plan.

Main characteristics of the business plan

The file that you are going to put together must allow the reader to:

–  quickly understand what it is, what needs the product or service offered meets,

–  know who is behind it, their motivations, objectives, and assets for the complete it,

–  assess its value and the seriousness of its preparation,

–  take a position on the project.

This is why your file must be:

Neat:  the first impression is the right one to generate favorable interest in the reader; your business plan must have an impeccable presentation.

Concise: there are no real rules in this area. A business plan has ten to thirty pages, excluding appendices. To unnecessarily burden the file, it is wise to bring together all the supporting documents in a second file.

When writing your business plan, think of the reader! Most of the time, this will be a very busy and busy person. The best service you can render him – is to make his work easier by giving him a sufficiently concise document. Indeed, a banker who must tackle the reading of a “paving stone” will begin, unconsciously or not, with an unfavorable prejudice.  We must therefore go to the essential.

Complete:  keep it short, but without forgetting anything that enables the project’s feasibility and viability to be judged. Therefore, all its aspects must be dealt with in your business plan (see “the composition of the file”).

Clair: I l should be written in a simple and easily understandable style; avoiding jargon put yourself in the place of a lay reader.

The text must have good readability (judicious choice of print characters and symbols, layout, etc.) with correct pagination and summary.

Well structured: I l must be scheduled logically in its decomposition into parts and subparts. The titles given to the chapters should help the reader to understand the whole subject.

Accurate :  p o be credible, we must affirm that verifiable thing.

– Be careful to cite your sources of information: references to books or studies, press clippings, the identity of the expert whose comments you are reporting, etc.

–  Include in the appendices file as many supporting documents as possible: copies of articles, records of conversations or telephone interviews, or better still: letter that you have requested and been able to obtain from the expert so that he confirms his statements, etc.

Seller:  it is to stay incredible content, but the case should highlight the project’s essential data and particularly its strengths.

Thus the arguments developed, put in bold or underlined when they are stated, will be summarized in each chapter or part of the file concerning them to influence the reader and help him structure his perception of the project favorably.

And don’t hesitate to illustrate it with photos and videos of the team, your products, services, etc.

The executive summary

Your business plan must open with a synthetic and “sales” presentation of your project.  This presentation, which should not exceed one or two pages, should make your interlocutor want to continue reading and take an interest in your project. For that, he must immediately understand what it is about. It is “the moment of discovery”.  Weigh your words to arouse the reader’s interest and encourage them to continue reading beyond the executive summary!

You and your team

The project leader (that is to say you) or of the founding team must be done with the same care as the writing of a hiring CV, by emphasizing all that, in your experience past, is linked in a rewarding way to the project in question. This presentation must be “punchy”. In some projects, the personality of the creator of the team’s presentation is just as important as the project itself.  And if you are more than one, insist on the complementarity of the team!

General presentation of the project

At this stage, v you can talk about your project’s genesis: how and why it occurred to you? What reasons are there to get you started? What are the goals you are pursuing? What are your assets for its success?

The economic part of the business plan

It has several parts.

– A presentation of the product (s) and services you are going to offer. Be careful to be understandable! Avoid jargon specific to your profession!

A presentation of the economic model (or business model ) that you will adopt describes how the company delivers and shares value to all stakeholders.

The conclusions of your market study: explain which market you are in, detail the characteristics of potential customers, indicate who is your direct or indirect competitors, expose any risks related to your economic, legal and social environment. Professional…

The strategy you have chosen to enter your market and develop your business: the market segmentation, the choice of the product/market pair, the positioning retained about the competition, as well as the marketing mix decisions you have taken (product, pricing, distribution, and communication policy).

– The costing of your estimated turnover by relying as much as possible on tangible elements.

Find out more about estimating forecast revenue

The drafting of this paragraph should be the occasion to visualize the company’s future market by breaking down the operating process and putting in parallel the equipment, the workforce, and the other means, in particular intangible, necessary.

The financial part of the business plan

It includes all the elements that translate the economic part into financial terms. Its composition will naturally depend on the sector of activity and the development potential of your project.

As an indication, to convince an investor, here are the financial elements that are frequently found in a business plan:

The investment table: indicates the purchase price of the investments, their planned date of acquisition, the accounting depreciation period, and the annual depreciation allowance they entail for each of the first three financial years.

The 12-month cash flow plan: this table makes it possible, over a relatively short period, to ensure that the new company will always be able, based on what one can reasonably foresee, to meet its financial commitments.

The calculation of the break-even point: it is important to know the company’s turnover must imperatively achieve to cover all of its expenses and determine the moment when this threshold ( break-even point) will be reached. Beyond that, the company begins to make profits.

The three-year financing plan: this table is necessary to assess the company’s financial structure’s forecast evolution in the medium term. A good financial structure is one of the conditions for the sustainability of new companies.

– The table of credit annuities (if there is a medium or long-term loan): knowing the breakdown of loan repayments is necessary to feed the income statement (financial charges) and the 3-year financing plan ( repayment of borrowed capital).

The initial financing plan indicates the capital to be raised to launch the project under good conditions. A thorough analysis and calculation must be carried out to correctly determine the working capital requirement to correctly identify all sustainable financing needs (to compare the necessary sustainable financial resources).

– The income statement for the first three years: allows us to judge the new company’s future profitability.

The 5 skills you need to be successful as an entrepreneur

1. Achievement orientation

In successful entrepreneurs, the need to achieve their own goals translates into a great capacity for work and the tenacity and perseverance necessary to stay on course. But this ability should not be confused with the initial enthusiasm of the entrepreneur setting up a business. They often fail because they plan little. Or they have problems to maintain the business because they are people who are always starting things, but do not know how to maintain them over time, if they do not put someone else in charge of the business.

How to develop it

Your tenacity and perseverance will be tested from the first moments as an entrepreneur. In order not to get blocked, you have to think about winning small battles, not trying to win the war. Small achievements help achieve big goals. Think, for example, how you would eat an elephant. Many people will immediately say that it is impossible to eat an elephant. An achievement-oriented person will say little by little. Of course, if you plan well and divide it into parts, you can surely eat it.

2. Need for independence and initiative

All the experts say that it is impossible to become an entrepreneur when you do not have initiative. Moreover, race entrepreneurs have so developed the need to create something of their own that they know they are going to be entrepreneurs before even knowing what business they are going to start. But many other entrepreneurs simply look to their business for a way to do the work they love. This profile of entrepreneurs loses the enthusiasm and drive necessary to achieve success when problems begin. They are people who have started a business because they wanted to be independent, but they had not appreciated all the sacrifices that that decision entails, and they realize too late that they are not willing to assume that price.

How to develop it

The first thing you should do is identify what is the barrier that is holding back your initiative, in order to design the most appropriate strategy for your problem. It may happen that the initiative is held back by habits that limit your orientation to action, such as the tendency to analyze everything excessively, the loss of vision of your business, a lack of clear priorities or the tendency to be too perfectionist with the results. Or that it is due to causes beyond your own control, such as the lack of capital or the necessary support to carry out the business. Try to develop your initiative by promoting habits that facilitate decision-making, even in the most complicated moments. For example, get used to analyzing the cost-benefit of your decisions on paper and jump into the pool when the risk is not high. You should also get used to planning things by setting priorities and avoiding tasks that deviate from your goals. Organize a short, medium, and long term agenda and write down the small achievements to regain your confidence in your project. If you have lost the initiative because you are no longer clear about your business idea, try to recover your vision, identify what things still excite you about it, and analyze if you have the means to achieve it. If you can’t identify the way to start it, you are chasing an unattainable dream. If you have lost the initiative because you are no longer clear about your business idea, try to recover your vision, identify what things still excite you about it, and analyze if you have the means to achieve it. If you can’t identify the way to start it, you are chasing an unattainable dream. If you have lost the initiative because you are no longer clear about your business idea, try to recover your vision, identify what things still excite you about it, and analyze if you have the means to achieve it. If you can’t identify the way to start it, you are chasing an unattainable dream.

3. Eagerness to improve and learn

Curiosity is a personality trait of many entrepreneurs. If you are one of those who are always looking for new challenges, if you enjoy learning and continually try to overcome your goals, you have one of your best strengths there. The curiosity of the entrepreneur is used to find new lines of business, new markets, and even to start new companies completely different from each other. But it also happens that some successful entrepreneurs become self-limited due to an excess of confidence that makes them close to the ideas of others. We remind them of a Chinese proverb that goes like this: ‘when the student is ready, the teacher appears.

How to develop it

Learning is closely related to self-knowledge and the ability to accept criticism. In this sense, the first step to improve is to accept that you do not know everything. Learn to identify the beliefs that limit your vision of things and accept your mistakes. If you don’t, no learning is possible.

Routine is another of the main traps to improve learning ability. In order not to restrict your mind, get used to looking for new ways of doing things and remember that everything can be improved. Feed your intellectual curiosity by collecting all kinds of information, even that which is not directly related to your business.

Detecting your own limits is one of the keys to self-confidence. In personal learning, the point of view of others is also key. Try to boost the critical spirit of the people you trust and analyze in which areas you should improve.

It enhances other skills directly related to the ability to learn, such as creativity, the ability to accept mistakes, and communication with others.

4. Intuition and vision of the future

Intuition and the ability to anticipate the future are two essential values ​​in today’s markets. All entrepreneurs have to face the litmus test of solving problems with minimal information at some point in the beginning or development of the business. Or they are forced to make key decisions for the future of the business in times of maximum uncertainty.

Don’t anchor yourself to the past

These two abilities, which are often considered innate, have a lot to do with how we deal with problems. It is very common that when problems arise, we wonder why I have not done this? These types of questions anchor us to the past. By contrast, questions of the type what for? help us to position ourselves in the future: why am I going to do this? What do I want to achieve?

How to develop it

To improve intuitive thinking, you must get used to analyzing the market and your company from an overall vision. If you stay in the small details, you are limiting your ability to anticipate the future. But remember that being carried away by intuition does not mean that you have to give up gathering as much information as possible before solving a problem. Or that you make important decisions without analyzing the consequences. The key is to learn to simplify the information, to be able to detect the most important ideas to explain complex situations, and to try to identify relationships that are not obvious at first.

5. Self-confidence

“If you think you can as if you think you can’t, in both cases, you are right.” This well-known phrase by Henry Ford reflects very well the importance of the self-confidence of its promoters in the success or failure of a business. If you think you can, you may well succeed, but if you think you can’t, you will fail. And that does not mean that the entrepreneur has no doubts about his business.

Here you will read the 100 Ways to Become a Millionaire.

Where I’m going

Self-confidence is especially tested in times of crisis. You must be clear about what you want to achieve and how you are going to do it. And be aware that the path is made by walking because many things will not turn out as you had planned. If you are confident, your fears about what will happen tomorrow are overcome. If not, you sink.

How to develop it

Self-confidence is learned, starting with improving self-knowledge. You must stop to analyze what your successes and failures have been based on, to detect where your limits are. Many people do not trust themselves because they do not know who they are, they fall into defeatism, and they depend a lot on the opinion of those around them.

Self-confidence is reinforced by the successes achieved. Dare to take on challenges and write down your successes, along with an explanation of the causes that made them possible. This information will help you make the right decisions when you face similar situations again. Do the same with mistakes, to avoid repeating them.