Known for its bubble tea and other Asian-inspired drinks and snacks, Quickly has grown to be a well-liked franchise choice for business owners all around the world. To own a Quickly franchise, though, how much does it cost? And does it actually pay out as an investment?
Starting off, the price of owning a Quickly franchise varies according to the store’s location and size. The initial investment runs from $120,000 to $310,000, per the company’s website. This covers the equipment, inventory, and other start-up expenses in addition to the franchise fee, which can range from $20,000 to $50,000. Franchisees must also pay a marketing charge of 2% of gross sales as well as a royalty fee of 5% of gross sales.
Although the initial investment may appear exorbitant, many business owners believe that the burgeoning bubble tea sector offers the possibility of substantial returns. A report by ResearchAndMarkets.com projects that the global bubble tea market will grow to $4.3 billion by 2027. And with the help of a well-known corporation, franchisees may take advantage of this expanding market thanks to Quickly’s well-established brand name and devoted client base.
What about other bubble tea chains like Chatime and Gong Cha, though? In recent years, Chatime, a brand of bubble tea from Taiwan, has also grown in popularity. The franchise cost for the business is between $75,000 and $100,000, with a projected total investment of between $300,000 and $400,000. The franchise cost for Gong Cha is $40,000, and the total investment required is slated to range between $160,000 and $400,000. In terms of profitability, it’s challenging to provide a universal solution. A franchise’s success can be impacted by a variety of elements, including location, competition, and management. However, according to a survey by FranchiseHelp.com, a normal boba business may bring in between $300,000 and $600,000 per year, with a profit margin of 10% to 15%. Naturally, these figures can differ significantly based on the particular organization.
Lastly, who is the Coco Milk Tea’s proprietor? Tommy Hung launched Coco Milk Tea, another well-known bubble tea company, in Taipei, Taiwan in 1997. Since then, the business has grown to over 2,000 sites across the globe, including franchisees in the US, Canada, and Australia.
Conclusion: In the expanding bubble tea market, purchasing a Quickly franchise may be an expensive but ultimately rewarding investment. Similar initial investments and predicted total expenses are associated with other well-known bubble tea franchises like Chatime and Gong Cha. Even though there is no assurance of success, a well-run boba shop can bring in a sizable amount of money. For those who are interested, Coco Milk Tea was created by Tommy Hung in Taiwan and has since spread throughout the world.