In this FDD Talk post, you’ll learn the following:
- Section I – Background information on the I Love Juice Bar franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for an I Love Juice Bar franchise, based on Item 7 of the company’s 2015 FDD
- Section III – Presentation and analysis of I Love Juice Bar’s financial performance representations, based on Item 19 of the company’s 2015 FDD, including information on the:
- 2014 total sales, food cost, supplies cost, management salaries, crew salaries, crew overtime, taxes and employee benefits, prime costs, gross profit, marketing and advertising, utilities, repairs and maintenance, credit card service, general and admin expenses, services and direct operating expenses, and controllable income for the 964 square foot, company-operated I Love Juice Bar store located in Brentwood, Tennessee, opened in April 2013
Section I – Background Information
I Love Juice Bar is a brand new company that just got started in 2013, and only started franchising in 2015.
John and Vui Hunt had been dreaming for years of opening some kind of restaurant in Nashville. John in particular wanted to escape a stressful corporate environment that had him eating poorly and feeling badly. Vui had previously owned a vegetarian restaurant in Atlanta called Veggieland, and they missed the excitement it had brought to their lives.
Meanwhile, John had watched Fat, Sick and Nearly Dead, a documentary that led him to start juicing. As he lost a pound a day and felt better than ever, a juice bar seemed like the way to go.
When a sandwich shop came up for sale in Brentwood, the husband-and-wife duo knew their time had come, and I Love Juice Bar was born in 2013. In 2014 they added a second company-owned location. In 2015 they opened a third company-owned location and then began franchising, opening 10 new units for a grand total of 13 to date, and many more in the works.
Here’s how I Love Juice Bar puts the squeeze on fresh fruits and veggies in the healthy eating segment:
The Ultimate in Healthy Menus
I Love Juice Bar can only be described as “…overwhelmingly vegetarian, gluten-free, organic when possible, and always uses 100% whole fruits and vegetables.” In short, it is a “I want to eat healthy and feel great” kind of place, offering nine different fresh-squeezed juice combinations as well as build-your-own options, nine different smoothies with lots of add-on options, and a range of good eats including spring rolls, sprout sandwiches, kale and quinoa salad, hummus and veggies, fresh coconut, fruit cup, Greek yogurt parfait, and soup. Beverages include Real Water and Kombucha (a fermented sweet tea).
Taking Health to the Next Level
For those who want to get really serious about health, the chain also offers several different essential oil concoctions to address specific health needs, including the Digestive Aid, Sniffle Stopper, Energizer, Slim & Sassy, and Allergy Shot.
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The chain also offers different juice cleanse packages, such as the Daily Essential Cleanse package of juices that gives customers vitamins and nutrients needed to keep them feeling full and energized. It includes six different juices and runs $33/day.
Juice cleansing is a form of fasting that helps detoxify the body, boost the immune system, increase energy and focus, improve skin complexion, and shed pounds in a healthy way. Most might engage a juice cleansing routine for 1-3 days at a time, while hardcore juicers might go for 10-21 days at a time.
Focus on Local
The trend among consumers who want to be healthy and green is to focus on local, and I Love Juice Bar has jumped on that bandwagon with gusto. It uses local wheat grass in its Super Greens juice, and purchases its kale, spinach, and other ingredients from local farms whenever possible.
A Growing Market
Americans already spend $5 billion a year on juicing, and the industry keeps growing at 4-8% each year. Technomic notes that over the two-year period from 2010-2012, the number of consumers who agreed that eating healthy and paying attention to nutrition was important went from 57% to 64% — a figure that’s expected to keep rising in the 21st century.
Section II – Estimated Costs
- Please click here for detailed estimates of I Love Juice Bar franchise costs, based on Item 7 of the company’s 2015 FDD (updated).