The cost of owning a bubble tea franchise in Orchard will depend on several factors, although you can expect to spend around $150,000 on average. The price is a bit more expensive than in other areas since Orchard is known as an upscale district. The average price listed above includes the franchising fee, rental deposit, cost of stock, equipment and furniture. Your chosen brand will also affect the overall price. Cost Factors If you plan to invest $150,000 on a bubble tea franchise, it’s possible to record around $40,000 of monthly revenues and a net profit of $5,000. These numbers are contingent on how you strategize your sales and marketing plans. Location is also important. You need to research the area carefully if there’s enough foot traffic. The downside of finding a place with high foot traffic involves the cost. A rental space can cost up to $14,500 per month, especially if you want a bigger space. It’s possible to spend $80,000 for a bubble tea business, but you need to compromise on certain things like choosing a smaller rental property. Brand Consciousness Popular brands will also charge a higher royalty and franchising fees, so a lesser-known brand may be a better choice if you have a limited budget. For instance, Gong Cha charges almost $54,400 as the initial franchising fee for a single outlet. Recurring fees include 4.5% of sales per month and 1% of sales for marketing and advertising fees. The total investment may cost between $244,000 and $460,000. Think carefully before signing a deal as the franchise agreement will be valid for 10 years. In short, you need to have a solid business plan on how to keep the business afloat and make money at the same time. Pros and Cons Despite the high price, you don’t need to have an established customer base if you own a well-known bubble tea franchise. That’s not the case if you become a franchisee for a lesser-known brand. It’s even more difficult to set up a bubble tea business from scratch. You will have to handle everything from finding a suitable location to a target demographic. Do you need extra capital for your bubble tea business? You can check out the best licensed moneylender near Orchard and visit A1 Credit to know your best option for a small business loan. Follow the directions below if you’re coming from Orchard Road. Directions from Orchard Road to A1 Credit
0 Comments
Leave a Reply. |
A1 Credit
2 Havelock Road #02-08 Singapore 059763 Phone:[email protected] a1credit.sg Find Us Online: Qoura Dribble Stackoverflow behance myspace tumblr plurk pearltrees apsense bibsonomy folkd issuuu Dzone SoundCloud Goodreads DeviantArt Evernote Blogger Gravatar Last.fm Instapaper About.me Youtube Openstreetmap Mix Scoop.it Itsmyurls Akonter Brandyourself Slashdot Tupalo Trello Bitly Digg Tuugo Community Walk livejournal iGlobal 57TIvfRwuOF6 Diigo Academia Remote Getpocket Flickr |