What is a good location to start a Juice Business?
Initially living in England I decided to look for potential properties in populated areas here. After a lot of research I decided the best area to buy a juice bar would be Central London as this is where the main tourist trade takes place and is the wealthiest sector of England. I looked through properties for sale in this area and the average shop for sale in this region was £750,000 and to rent a property it was working out to be £4000 a month. Then I also considered the weather here and normally consumers would like to buy juice on a warm
environment. However England's climate does not match these specifications. Also there were too many shops and cafes in these areas that would provide to much completion for our juice bar. So creating a juice bar in England would not be practical in any of these senses.
Then I decided to create a Juice Bar in a country that matched all the specifications above that England did not and could provide a good business investment. So I started to research again and my findings suggested opening my Juice Bar in a Caribbean island called the `Dominican Republic`.
Why open it here?
I have decided to open m juice bar in the Dominican Republic as it matches all the criteria set above that the United Kingdom does not. Firstly juice is best served cold and is more appetising in hotter environments. This is one of the main reasons why we thought to open it here. This county has a huge tourist trade and when tourist are walking past and get thirsty as they often will due to the heat they will come into our Juice bar for an appetising and refreshing cold drink of juice.
Also another main influence is the cost. The main objective of opening this Juice bar is to make a profit. To make a profit you should get as much revenue as possible and keep costs down to a minimum. This is why the Dominican Republic is ideal for opening this juice bar. To rent a juice bar in London is £4000 a month which equals £48,000 a year. To open a juice bar in Dominican Republic is $129,000 or £81,000. This is leasehold however and you get to keep the property for 10 years. This will equal £8100 a year for the 10 year period which is significantly lower (£39,900 less) then opening it in England.
This potentially means that could get more potential customers here, will be a more suitable environment, will be able to operate and run the business for cheaper and accommodation is not a problem as there is a flat on top of the house which the owner can be situated.
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