Popular bubble tea chain Gong Cha has its roots in Taiwan. It has more than 1,500 locations across the globe, including ones in the US, Canada, and Europe. Many business owners are interested in starting their own Gong Cha franchise, but the franchise fee might be a significant factor. The price of the Gong Cha franchise and other tea franchises, as well as other pertinent issues, will be covered in this article.
The price to operate a Gong Cha franchise varies according to the store’s location and size. The projected overall investment cost for a Gong Cha store is between $200,000 and $400,000, according to the business’ website. This covers the cost of merchandise, equipment, and other expenses, as well as the franchise fee, which is $40,000 for a single store.
Depending on the location and the drink, a small boba or bubble tea from Gong Cha can cost different amounts. A small drink from Gong Cha often costs between $4 and $5. The size of the drink, the type of tea used, and any other toppings or flavors added can all affect this, though.
You must submit an application to the corporation and pass a screening process in order to create a Gong Cha franchise. If you are a good candidate for a franchise, the corporation will consider your qualifications, financial capacity, and other aspects. If your application is accepted, you will have to sign a franchise contract, pay the franchise fee, and cover other costs. Which franchise is the most lucrative to own?
Franchise profitability is influenced by a number of variables, including location, market demand, rivalry, and management. However, McDonald’s, Dunkin’ Donuts, and Subway are some of the food and beverage industry’s most lucrative franchises. These franchises can aid franchisees in succeeding because they have a solid brand recognition and a tested business approach.
Another well-known bubble tea chain with Philippine roots is Macao Imperial Tea. The price to open a Macao Imperial Tea franchise varies according to the store’s location and size. The anticipated overall investment cost for a Macao Imperial Tea store is between $50,000 and $100,000, according to the business’ website. This covers the cost of merchandise, equipment, and other expenses, as well as the franchise fee, which is $15,000 for a single store.
Finally, starting a Gong Cha franchise or any tea franchise can be a successful business venture for business owners. Before making a choice, it’s crucial to take the franchise’s price and profitability into account. You may make an informed choice and improve your chances of success in the cutthroat food and beverage market by completing research and weighing your options.
Tommy Hung is the owner of CoCo Milk Tea.