Snack Bar Business Idea
When you start a snack bar business, you have the opportunity to become part of the highly profitable food industry without incurring the expense of running a full-fledged restaurant. Snacks are a multimillion dollar industry.
Typically located where potential customers already exist, a snack bar business is an enterprise that is capable of making money from the start.
To start a snack bar business, begin by finding a desirable location. Look for space in office buildings, airports, gyms, or other venues where people work and congregate daily. Industrial and business complexes are ideal because there are large numbers of employees who will likely become your customers.
Search for areas that do not have an existing snack bar and are not served by snack carts or other means. Speak with the building or office complex manager. Discuss renting space in the facility and negotiate a leasing agreement.
Decide which snack items to carry. Typically, snack bars carry a variety of items from sweets to fresh fruit to meet the demands of as many people as possible. Find and work with local vendors, whenever feasible. Local bakeries, farmers, and snack food vendors may have the capability to supply a good portion of your product line.
The following equipment and supplies (at a minimum) will be required in addition to your snack foods:
- Cash registers
- Display cases
- Bar code readers
- Credit card processors
- Beverage servers
- Industrial coffeemaker
- Shopping bags, napkins, and serving accessories
Contact the local health department to apply for required food handling permits. Acquire your business and any required sales tax licenses from your local and state offices.
Succeeding When You Start A Snack Bar Business
When you start a snack bar business, remember that in order to achieve success, you must offer snack items that customers demand at prices they are willing to pay. Be aware of the snack foods in your product line that sell well and those that don’t.
Listen to customer suggestions. Knowing your customer base is imperative if you intend to run a successful enterprise.
Pricing your snacks correctly will ensure that your prices are attractive to customers, but allow you to make a profit at the same time. If you are the only snack food source, it may be that your market will bear higher pricing than it would otherwise due to the convenience factor. Convenience pricing is tricky, however, and must be carefully done.
Advertising and Marketing
Particularly important when you first start a snack bar business is getting the word out. Most business complexes have bulletin boards and newsletters where you can place advertisements or announcements. Use eye-catching signage to attract walk-by traffic.
Shopping bags, food wrappers, and napkins that customers take with them should be imprinted with your store name, location, and phone number. This type of advertising works especially well in office complexes, because other employees are likely to see it.
Expanding Your Business
Once you have hit upon the right combination of sales and pricing and are making a healthy profit, look for ways to further increase revenue. Adding more product lines is one option. Another is to offer a food cart service to reach employees who are unable to leave their desks or work areas.
Opening a second snack bar in a different location is another avenue to explore. Again, conduct extensive research to find the best location.
Sales of snack products increase every year. A snack bar in the right location has an excellent chance to succeed.