How to Choose the Right Milk Tea Franchise Business
Finding the right milk tea franchise business starts with a good location, a set budget and a brand that fits your target market. Learn about some top Milk Tea Franchise Busiensses today - Chatime, Sugar Panda, Icelavie, Caffe La Tea and Beanleaf Coffee and Tea.
Milk tea is one of the most popular beverages in the country today. It’s not surprising to see someone you know drink milk tea every day, willing to line up for hours or having it delivered to their doorstep. A lot of people love milk tea so much that they want to franchise it. But with so many choices out there, it’s important to understand the differences.
Here are the points to take when choosing a milk tea franchise:
1. Understanding your budget
There are tons of milk tea brands in the country today. Investment in milk tea carts with a size of four square meters can start as low as P250,000 plus while bigger, more established in-line with seating can cost P5 milion plus. The bigger the store space you get, the larger investment you should prepare. You have to spend money to make money, but do not forget to keep your emergency and insurance fund in place.
2.Prospecting a location, defining your target market
Some brands offer milk teas at P40 while premium brands offer at P150. Make sure your brand and price point match the location and target market. With that, it will be easier for you to build a strong connection to your future customers.
3. Choose: A new franchise brand? Or an established one?
A new franchise brand has more location opportunities especially if it offers unique products and promotions. You will be introducing a new breed of milk tea in the market. While established brand offers familiarity, brand recognition and network. Whichever you pick, whether it is new brand, established or an international one, make sure to be ready financially, mentally and physically.
Here are the top milk tea franchise brands to choose from:
1. Cha Thai by Farron Café
Franchise Fee: P56,000
Total Investment: From P299,000