The franchise fee is number one. The initial payment made by the franchisee to the franchisor is known as the franchise fee. It represents the price for the privilege of using the franchisor’s brand, operating model, and other intellectual property. Additionally, the franchisor’s assistance and training are covered by this cost. Depending on the location and size of the business, the franchise price for Coco Milk Tea ranges from Php 450,000 to Php 650,000.
The applicant must be in excellent financial standing and have a net worth of at least Php 5 million in order to be qualified for franchising. Additionally, the franchisee is required to have a suitable site for the shop that is at least 30 square meters in size and is situated in a busy neighborhood. Additionally, the franchisee needs a staff of at least five people who will participate in training sessions offered by the franchisor.
3. The Locations of Kung Fu Tea
There are numerous stores of Kung Fu Tea, another well-known milk tea brand, across the Philippines. There are 15 Kung Fu Tea locations across the nation as of 2021, the most of them are in Metro Manila. It’s crucial to keep in mind that Kung Fu Tea and Coco Milk Tea are two distinct brands with various requirements for franchising.
The two most well-known coffee chains in the world, Dunkin and Starbucks, do not offer milk tea or boba. Starbucks sells coffee, tea, and pastries, whereas Dunkin sells coffee, donuts, and other baked products. They do, however, provide comparable beverages like iced coffee and iced tea that may be personalized with various flavors and toppings.
In summary, opening a Coco Milk Tea franchise in the Philippines can be a profitable and interesting business venture. A Coco Milk Tea franchise can be profitable if it is in the proper location, has the right personnel, and has the franchisor’s backing. Just keep in mind to follow the rules and pay the required franchise cost. Regarding the frequently asked issue concerning Kung Fu Tea locations and if Dunkin’ Donuts or Starbucks offer boba, the solution is simple: neither Dunkin’ Donuts nor Starbucks sell boba or milk tea. Kung Fu Tea has multiple locations across the Philippines.