The first bubble tea shop in Mauritius opened at the end of 2012 and since then there have been bubble tea shops in most of the island`s shopping malls. The bubble tea shop has become a popular place for teenagers to relax. [55] In China, young people`s growing obsession with bubble tea has shaped the way they interact socially. Buying someone a cup of bubble tea has become a new way to thank someone informally. It is also a popular topic among friends and on social media. [34] In Taiwan, bubble tea has become more than a drink, but a lasting icon of food culture and history for the nation. [8] [29] In 2020, April 30 was officially declared National Bubble Tea Day in Taiwan. [2] In the same year, the image of Bubble Tea was proposed as an alternative cover for the Taiwanese passport. [30] According to Al Jazeera, bubble tea has become synonymous with Taiwan and is an important symbol of Taiwanese identity both at home and abroad. [31] Bubble tea is used to represent Taiwan in the Milk Tea Alliance. [32] [31] While bubble tea has gained popularity in the United States, entire stores dedicated to the drink have opened. These stores offer a variety of flavors, blends, and toppings, and offer personalized beverages while the customer waits.
As you prepare to start your business, you need to decide what type of business unit you`re going to operate. The business unit determines how your business is legally organized. You can choose from four main types of entities, including a sole proprietorship, partnership, corporation, and limited liability company (LLC). Each type of entity has different advantages and disadvantages in terms of issues such as liability, costs, taxes and administrative requirements. If you`re not sure what type of entity is right for your business, your business lawyer can give you advice and guidance. Management experience. Most bubble tea companies need multiple employees. A contractor who has already hired, trained and managed employees is well prepared for this responsibility. The usual start-up costs for a bubble tea business include: You make a bubble tea drink for about 75 cents and sell the drink for a few dollars. Depending on your competitors and your price sensitivity, you can get a premium of 350% or better on the drink. Additional income may come from other foods, beverages or goods you sell.
You may provide links to the Site provided that (a) you do not remove or obscure any advertising, copyright notices or other notices on the Site, (b) your Site does not engage in any illegal or pornographic activity, and (c) you immediately stop providing links to the Site at our request. Due to its popularity, bubble tea has inspired a variety of bubble tea flavored snacks such as bubble tea ice cream and bubble tea candy. [12] The sharp increase in demand for bubble tea and the related industry may offer opportunities for potential market expansion. [13] The bubble tea market size was estimated at $2.4 billion in 2019 and is expected to reach $4.3 billion by the end of 2027. [13] The world`s largest bubble tea chains include Chatime, CoCo Fresh Tea & Juice and Gong Cha. The bubble tea trend (or Boba tea) has quickly gained popularity in the United States, and there`s a good chance that even if you haven`t drunk any of these drinks yourself, you`ve seen a lot of them on social media. If you are a bubble tea enthusiast and like to find new flavors, starting your own bubble tea shop could be an interesting opportunity. Depending on where you are, a significant portion of your audience is likely to be early adopters. These are people who are open to trying new elements or activities. Your recommendation could really be beneficial for you. If you`re starting your business in an area where most prospects are familiar with bubble tea, your customer base may include people who want to compare your tea and overall product line to the competition.
In the 1990s, individual bubble tea shops sprang up in Australia, as well as other regional beverages such as Cendol ice cream. The chain stores were founded in 2002 when the Bubble Cup franchise opened its first store in Melbourne. [53] Although originally associated with the rapid growth of immigration from Asia and the huge cohort of higher education students from Asia, bubble tea has become popular in many communities in Melbourne and Sydney. “You`ll often see groups of friends from all cultures come together to enjoy bubble tea together.” [54] Many suburban malls will have a branch of a bubble tea franchise. The other concern about bubble tea is its high calorie content, which is partly due to the high-carb tapioca pearls (or 珍珠), which can account for up to half the number of calories in a 500ml serving of bubble tea. [58] Think about what else you can prepare with the same or comparable equipment you bought for bubble tea. Consider adding smoothies, coffee or ice cream to your menu. Alternatively, you can buy cookies, pastries, and other desserts from nearby vendors to sell. Consider selling t-shirts, mugs, posters, CDs, and other items to your existing customer base.
Test new things for a while to see if they sell. If not, change your recipe. The uniqueness of the product could work in your favor. A certain market niche is always looking for new goods and experiences. Share the story of how bubble tea could have come into being with local consumers and local media. Also, be sure to provide free samples. The drink can be so unusual in your area that the media will talk about it before you open at the store. Many bubble tea shops today use a bubble tea shake machine. This eliminates the need for people to shake the bubble tea by hand. This also reduces staffing requirements, as multiple cups of bubble tea can be prepared by a single barista. [25] Bubble tea companies mainly make money by selling bubble tea, but some establishments sell other foods and beverages.
Spread the word. Especially if your market is relatively unaware of bubble tea. Let people learn what the drink is, how it is made and how good it tastes. Also try to combine bubble tea with at least one other complementary product. This will help you lure customers into the door and cross-sell. The cost of an LLC depends on the state in which you form your LLC. The main cost of forming an LLC for your bubble tea business is the state filing fee. These fees range from $40 to $500, depending on the state. For more information, check out our guide on how much it costs to start an LLC. Instagram and Facebook have been a major driver of bubble tea`s popularity, and businesses using this platform will have access to a powerful marketing tool. The Culinary Edge reports that the companies have used different cups, introduced wild toppings like churros and ice cream, and used prettier flavors like striped black sugar milk to take advantage of the visual appeal of the drinks.
Encouraging customers to post photos of their tea can lead to very effective marketing, and it`s likely that this trend will continue. Yahoo Lifestyle reports that the popularity of bubble tea has also led to many bubble-inspired foods. Bubble tea has been made or inspired into ice cream, yogurt, pies, pizza and more. Some companies focus on bottled bubble tea, which consumers can buy in stores. The novelty of the product can work to your advantage. A certain market segment is always looking for new products and experiences. Share with local customers and local media this story of how bubble tea could have been invented. Also, be sure to provide free samples. The drink could be such a novelty in your home that the media publishes stories before you open at the store. In July 2019, Singapore`s Mount Alvernia Hospital warned about the high sugar content of bubble tea, as the drink had become extremely popular in Singapore. While acknowledging the benefits of drinking green tea and black tea to reduce the risk of cardiovascular disease, diabetes, arthritis and cancer, the hospital warns that adding other ingredients such as non-dairy creams and toppings in tea could increase the fat and sugar content of tea and increase the risk of chronic diseases.