An evaluation into the feasibility of setting up a juice and smoothie bar in Mumbles
Cardiff Metropolitan University
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The aim of this Enterprise Project is to evaluate the feasibility of setting up a Juice and Smoothie bar that also provides healthy snacks for consumers on the go. The juice bar will be located in Mumbles, Swansea. The idea is for locals and tourists to get their healthy fix of fruit and veg in one cup whenever they want. To complete this aim, objectives were set that included; conducting a comprehensive literature review, identify the potential target market through the use primary research, examine the legal issues involved in setting up a business in the food industry, compile a business plan to show the potential for my own Juice/smoothie bar, analyse and evaluate the business plans results and lastly conclude and suggest recommendations for taking the business forward. The author carried out secondary research on relevant literature looking into; the juice and smoothie industry, the importance of healthy eating in the UK, economic profile of Mumbles and the new development opportunity for Mumbles. The research showed that the juice and smoothie industry is growing very rapidly and was worth £58.3 million in 2014-15. Primary research was conducted using both online and hard copy questionnaires distributed to the people of Mumbles and Swansea. The questionnaires had 100 responses and provided valuable feedback on the proposed business idea. A focus group was also conducted that showed that there was a gap in the market for this business in Mumbles. The primary and secondary research helped to discover the feasibility of the project. A business plan was created with the help of ‘Venture Wales graduate start-up support business plan’ which included products and services, the market and marketing, management and personnel, future developments and the finances of the business. The primary and secondary research enabled the author to adapt each section within the business plan to best fit the business idea. The financial forecasts were created for the first three years of trading, which showed the business was feasible by generating a good profit each of the three years. Future developments were conducted from the the findings of the SWOT analysis. This includes, the opening of another juice bar when profits allow, creating an App where customers can order drinks through the App on their phone and product development so looking at increasing the variety of all the juices, smoothies and the snacks.
BA Enterprise Project
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