How to open a Gong Cha franchise?
- Ensure you have adequate capitalization. In order to open the Gong Cha outlet franchise, you must have a net worth of $300,000.
- Appreciate the investment required for a bubble tea franchise. ...
- Evaluate your prior experience and strengths. ...
- Assess market availability. ...
- Submit your application. ...
- Receive approval & opening your Gong Cha franchise. ...
Full Answer
How profitable is gong cha?
The estimated sales for a single-unit Gong Cha franchise is $370,000. In 2021, at an average 18% profit margin, it will take around 8.1 years to recoup your investment. This is longer than most franchise opportunities.
How much does it cost to start a bubble tea franchise?
between $75,000 and $500,000Most bubble tea franchises cost between $75,000 and $500,000. Large locations and those in populous cities are likely to cost on the high end of that spectrum. Kiosks and stores in shopping centers or airports tend to cost less to get started. The majority can get up and running for between $125,000 and $200,000.
What company owns Gong Cha?
TA AssociatesIn 2019, TA Associates agreed to provide growth investment to Gong Cha and later bought 100% of Gong Cha Korea. UK company GC Group BIDCO Limited bought the remaining 30% in the same year, with GC Group BIDCO renamed to Gong Cha Global in 2020, moving the global headquarters to UK.
How much does it cost to own a franchise?
Franchise startup costs can be as low as $10,000 or as high as $5 million, with the majority falling somewhere between $100,000 and $300,000. The price all depends on the industry, location and type of franchise.
Are boba shops profitable?
So bubble tea shops that have an average selling price of $5.00/cup of bubble tea and sell about 100 cups per day would make about $500/day x 350 days = $175,000 in annual revenue.
Is opening a tea shop profitable?
A tea shop on a busy intersection in a major city that offers lunch might have an annual profit of hundreds of thousands of dollars, while a shop in a small town that only sells tea might have a profit of tens of thousands of dollars after wages (including the owner's wages) and other expenses are accounted for.
What is the best seller of Gong Cha?
Milk Tea SeriesRoyal Milk Tea 皇家奶茶Royal Milk Tea with Pearl 皇家珍珠奶茶Earl Grey Milk Tea with 3J 格雷三兄弟奶茶Honey Milk Tea 蜂蜜奶茶Strawberry Milk Tea 草莓奶茶Milk Tea with Grass Jelly 仙草奶凍Coffee Milk Tea 鴛鴦奶茶Chocolate Milk Drink 巧克力奶茶More items...•
Is Gong Cha a franchise?
Over five years of operation, Golden Trust Co., Ltd. - the Master of Franchise of Gong Cha in Vietnam, has made the brand grow expeditiously and become one of the most favorite F&B brands for young generation who loves milk tea and has the desire to experience qualified tea products from only selected ingredients.
What does Gong Cha stand for?
tribute tea for the emperorFounded in 2006 in Kaohsiung, Taiwan; Gong Cha, which translates to “tribute tea for the emperor” opened its doors to the bubble tea market.
Do franchise owners take a salary?
Franchise owners can pay themselves a salary or depending on their business entity, they may be able to take a draw from their accumulated equity.
What is the cheapest most profitable franchise to own?
What are the cheapest franchises to buy?Cruise Planners. Franchise fee: $10,995. ... Jazzercise. Franchise fee: $1,250. ... Help-U-Sell Real Estate. Franchise fee: $15,000. ... United Country Real Estate. Franchise fee: $8,000 to $20,000. ... Stratus Building Solutions. ... Anago Cleaning Systems. ... JAN-PRO. ... Dream Vacations.
Is a franchise a monthly fee?
Franchise royalties are usually collected by your franchisor on a monthly basis. Like marketing fees, these fees are based on a percentage of your revenue.
How much should I invest in bubble tea?
The initial costs of opening a boba shop can range anywhere from $15,000 to as much as $200,000. This range is so wide because there are many factors, such as location, construction and remodeling, business licenses, technology, boba tea equipment, ingredients, and staff.
How do I start a bubble tea business?
How to Start a Bubble Tea ShopIndependent or Franchisee? ... Pick a good store location. ... Design your store layout and theme. ... Write up your business plan. ... Understand how you will finance the new shop. ... Invest in the Right Equipment. ... Find a supplier who can meet your needs. ... Staff training.More items...
How much does a bubble tea shop earn?
Generally, you can expect a 20 to 30% profit margin on your bubble tea. If you sell 200 cups of tea for $5 each in a day, you will make $1,000 each day – or as much as $30,000 per month.
How do I start my own bubble tea?
Getting Started with Your Own Bubble Tea ShopStep 1: Develop The Concept. ... Step 2: Create Your Brand Name & Logo. ... Step 3: Find A Location. ... Step 4: Figure Out Financing. ... Step 5: Design Your Space. ... Step 6: Source Your Ingredients. ... Step 7: Get Permits, Licensing, & Staff Setup. ... Step 8: Put Together Your Marketing Plan.
When did Gong Cha open in California?
In the U.S., Gong cha opened its first store in California in 2013. Since then, we’ve rapidly increased our customer following and have opened 29 stores in California, with more to come, plus many stores on the east coast in numerous states to keep up with the demand for our quality drinks and stellar reputation.
How many Gong Cha stores are there?
International Brand Recognition. Gong cha originated in Taiwan and has 1,500 stores (and counting) globally! First franchise store opened in Hong Kong in 2009, catering to customers outside of Taiwan, it proved the international recognition of the brand and its successful business model.
Can Gong Cha California send text messages?
By clicking the “Get in touch”, you agree that Gong cha California may call, email and/or send SMS text messages to you for education and marketing activities related to your inquiry. We will only use this data for the purposes of determining if you are a suitable candidate to be a franchisee for Gong cha California. At no time will we use the data for any other purpose, or resell your data to a third party. Data and message rates may apply. Thank you.
Is Gong Cha a franchise?
Disclaimer: Information made available through this web site regarding the Gong cha franchise opportunity is for general information only and is not intended to be a franchise offer. Offers are made only after delivery of an effective Franchise Disclosure Document in compliance with applicable federal and state laws. None of the communications made through this web site should be construed as an offer to sell any Gong cha franchises in, nor is any such communication directed to the residents of, any jurisdiction requiring registration of the franchise before it is offered and sold in that jurisdiction. No Gong cha franchises will be sold to any resident of such jurisdiction until the offering has been exempted from the requirements of, or duly registered in and declared effective by, such jurisdiction and the required Franchise Disclosure Document has been delivered to the prospective franchisee before the sale in compliance with applicable law.
What is a Gong Cha?
What is Gong cha. “Gong cha” is an act of offering supreme quality teas to the Emperor in ancient China. Today, we at Gong cha treat all our customers as royal family and will only serve the best quality tea and beverages to you.
Where is Gong Cha tea made?
Founded in Taiwan in 2006, and brought to the USA in 2013, Gong cha is an international beverage franchise specializing in Tea, Coffee and Juice. All teas are imported from Taiwan, freshly brewed on site, and are completely customizable to provide an authentic boba tea experience. Start your business!
Is Honey Baked Ham a franchise?
The Honey Baked Ham Company, America's first and favorite ham franchise, has been serving high quality products for over 60 years. As a retail food franchise, HoneyBaked stands out with its multiple revenue streams and simple operating requirements.
Is Gong Cha a franchise?
Gong cha is listed in the Franchise Directory under the Food category. It's also listed in the section for Franchises Under $200,000 .
