Financing Your Juice It Up! Franchise
Opening a juice business goes more smoothly when you understand your franchise financing options
When a new candidate starts the process of opening their Juice It Up! franchise, one of the first questions that comes up is how they can finance their new business. Opening a juice bar requires a certain amount of capital to fund everything from equipment to advertising your grand opening.
Juice It Up! helps you hit the ground running, because we’ve already thought through everything you might need to start your venture successfully. Plus, we have strong relationships with financial services partners to help qualified candidates secure the funding they need.
Understanding your financial readiness
The good news is that when you sign a franchise agreement with Juice It Up!, you won’t be starting a juice bar on your own. We vet all our candidates to make sure they meet the financial qualifications, which means a minimum liquidity of $100,000 and a net worth of at least $300,000.
Juice It Up!, like most franchises, has a franchise fee of $25,000 payable up front. The total startup costs range between $216,400 and $378,300, according to Item 7 of our latest Franchise Disclosure Document.
The great news is, you don’t have to have the entire cost of the franchise available to invest immediately, and you can finance your new business just like you would a new house. That can mean some combination of loans or gifts from family and friends, as well as tapping into resources like a retirement account. Additionally, several of our successful franchisees own their businesses with partners. We encourage seeking out energized, steady partners to help fund and run your new franchise. However, we also work with several financial institutions who may be willing to help you secure the amount of capital you need.
Our vendor partners
Just as you can pre-qualify for a mortgage when buying a home, you can pre-qualify for a business loan when opening a juice bar like Juice It Up! We work closely with third-party financing vendors, which makes it easier for franchise candidates to go through the pre-qualification process.
Knowing that your pre-qualification means rock-solid financing is a very reassuring feeling. For qualified candidates who would prefer to work directly with a bank but don’t already have strong financial relationships, our franchising experts can facilitate introductions.
“We have a list of preferred lenders that we can provide, which helps the process go more smoothly,” says Marcus Skinner, VP of Operations.
Learn more about Juice It Up!
If you’ve been looking for a healthy juice, smoothie, or bowl franchise to invest in, and would like to learn more about Juice It Up!, please fill out our contact form.