The Philippines is renowned for its culture of entrepreneurship, with an increasing number of companies and franchises popping up all over the place. The bubble tea sector is one of the most well-liked to invest in. It is not surprising that more and more investors are looking to invest in this sector given its rising popularity and rising demand. We will go through the benefits of investing in the bubble tea sector in the Philippines in this article. Who Consumes the Most Bubble Tea?
Filipinos of all ages like drinking bubble tea, sometimes referred to as milk tea or boba tea. However, research has revealed that younger people, especially those between the ages of 18 and 34, are the top drinkers of bubble tea. This is due to the fact that Gen Z and millennials, who are constantly seeking for novel and interesting food and beverage options, have made bubble tea a popular beverage.
In addition to the younger generation, students, office professionals, and others who are constantly on the go enjoy bubble tea as well. This is because bubble tea outlets are frequently found in crowded locations like malls, commercial districts, and educational facilities. Bubble tea has become a popular among busy Filipinos due to the convenience of being able to grab a quick and refreshing drink while on the go.
Over the years, the Philippines’ bubble tea sector has been expanding significantly. The market for bubble tea in the Philippines is anticipated to expand at a CAGR of 13.6% from 2019 to 2024, according to a report by Research and Markets. Factors including the rising demand for bubble tea, the expansion of bubble tea outlets around the nation, and the accessibility of fresh and inventive flavors all contribute to this growth. The Philippines’ best franchise for investment is a bubble tea shop.
There are a number of well-known franchises to pick from if you want to invest in the bubble tea market in the Philippines. The most well-known franchises include Macao Imperial Tea, Chatime, Coco, and Gong Cha. To satisfy the wide range of tastes among Filipino consumers, these franchisees provide a variety of flavors and menu items. Additionally, these franchises have developed significant brand recognition across the nation, making them a secure and lucrative investment option.
In conclusion, people wishing to invest in the food and beverage sector can consider the Philippine bubble tea market. Purchasing a bubble tea franchise is a wise and successful move given its rising popularity, rising demand, and diverse clientele.
Depending on the location and franchise, a bubble tea shop’s size can change. Some stores might be tiny carts or kiosks, while others might be bigger standalone establishments. A bubble tea shop typically has a footprint of 100 to 500 square feet.