One of the most well-known milk tea brands both domestically and abroad is Gong Cha. It was first established in Taiwan in 2006 and has since spread to more than 20 nations. Gong Cha has established itself as a household name in the Philippines, where it has a large number of branches. What would it cost to franchise Gong Cha in the Philippines if you were thinking about opening a milk tea business?
Depending on the location and size of the establishment, franchising a Gong Cha store in the Philippines might cost anywhere between Php 2 million and Php 5 million. This amount includes the franchise cost, which entitles you to access the company’s exclusive recipes and training materials as well as the use of the Gong Cha name, logo, and trademark. You’ll also need to pay for the building, the furnishings, and the stock of the store, all of which might be expensive.
Let’s now discuss the potential profit margins for tea store proprietors. The milk tea industry’s profit margin might change based on things including location, competition, and overhead expenses. An effective tea store may often turn a profit margin of 20–30% on each cup of milk tea it sells. However, the aforementioned variables can cause this figure to rise or fall.
There are many methods you can use to advertise your milk tea business. Utilizing social media sites like Facebook and Instagram to promote your products and engage with customers is a successful strategy. Influencer marketing can be a fantastic approach to reach a larger audience and draw in new clients. In addition, holding events or running discounts can be fantastic ways to increase foot traffic. Lastly, it’s critical to conduct research and develop a strong business strategy if you’re considering opening your own company. This include doing market research, figuring out who your target market is, and estimating your startup costs. Additionally, you’ll need to register your company and secure all required permits and licenses. Starting a business can be difficult, but with the correct preparation and management, it can be a fulfilling and successful endeavor.
Yes, in order to sell tea goods in the Philippines, they must be registered with the FDA. Before tea products are made available to customers, the FDA makes sure they adhere to safety and quality criteria.