One of the most well-known restaurants in the Philippines, Siomai House offers reasonably priced and delectable siomai and other dimsum items. Siomai House franchises are appealing to many Filipinos, but how much does it cost to buy one? The franchise fee is Php 280,000, while the total investment varies depending on the size and location of the store from Php 350,000 to Php 1.2 million, according to the company’s website. The initial inventory, training for the franchisee and personnel, and equipment are all included in the franchise package. The franchise agreement has a five-year initial term and a five-year extension option.
Other well-known food and beverage establishments exist in the Philippines besides Siomai House. One of them is Gong Cha, a bubble tea company from Taiwan that has been in business since 2006. More than 1,500 Gong Cha locations may be found in more than 20 nations, including the Philippines. In addition to toppings like pearls, grass jelly, and aloe vera, the company sells a variety of tea beverages, including milk tea, fruit tea, and brewed tea. According to Franchise Philippines, the initial investment for a kiosk-style store ranges from Php 500,000 to Php 700,000 while a full store can cost up to Php 7 million. Gong Cha’s franchise pricing and investment varies by location.
It’s not as easy to make bubble tea as just combining milk, tea, and toppings. The taste and texture of the beverage can be impacted by the quality of the ingredients and machinery. Depending on the materials and quantity used, preparing a 16 oz. cup of bubble tea can cost anywhere between $0.50 and $1.00, claims Bubble Teaology, a bubble tea supply business in the US. The tea leaves and the milk or creamer are typically the most expensive ingredients.
Another food and beverage company with its roots in Taiwan is Quickly, which has also grown to include markets in the US and the Philippines. Among the many items that Quickly sells are milk tea, fruit tea, smoothies, snacks, and meals. Nancy Yang created the business in 1996. She began with a modest tea shop in Taiwan and later expanded it to become a worldwide franchise. According to Franchise Direct, a whole shop can cost up to $400,000 to build out and the first franchise price for Quickly ranges from $25,000 to $40,000.
In conclusion, operating a franchise for food and drink might be financially rewarding, but it also necessitates a large financial commitment. While Gong Cha’s can cost up to Php 7 million, Siomai House’s franchise fee and investment can range from Php 280,000 to Php 1.2 million. Bubble tea can range in price from $0.50 to $1.00 per cup, while the franchise fee and investment for Quickly can total up to $40,000 and $400,000, respectively. Before making a choice, prospective franchisees should conduct due diligence and speak with the franchisor because these numbers may change depending on the area and other variables.