The recent success of bubble milk tea shows that this beverage business offers a major opportunity for young people wanting to start a business. But starting a business is not as simple as opening a small drinks shop. Read the article below to find out what you need to do before starting a business.
Bubble tea was invented in Taiwan more than 30 years ago. Its distinctive character made it famous worldwide. Over the years, milk tea has been improved and diversified into many flavors, keeping drinkers, especially young people, from becoming bored with it. Milk tea was previously regarded as a business with considerable potential.
Investing in a milk tea shop today requires careful research. Such a business can do well in suburban areas and provinces where there are not yet many milk tea shops. However, the advantage of milk tea shops is that they are very well suited to young people, especially school and university students, who often visit them for recreation.
What to Prepare Before Starting a Business
– Capital
Initial Investment: From 70 Million, Allocated to:
+ Rental deposit: You need premises costing around 10–20 million per month, depending on location and district within the city.
+ Renovating the premises
+ Furnishing with tables, chairs, cabinets, and shelves
+ Milk tea equipment, tools, and utensils…
+ Reserve capital for at least the first 3 months, around 20 million.
– People
+ Hiring: Recruit one supervisor, one cashier, 1–2 beverage makers, and around 2 servers. Add staff later as the shop develops.
+ Management: Prepare weekly/monthly work plans, job descriptions, and specific assignments for each hire. The supervisor reports business conditions directly to you so you can understand and closely monitor staff work and daily results.
+ As an entrepreneur, thoroughly research milk tea preparation and how to run a milk tea shop.
– Legal matters
+ After securing premises, go to the relevant ward or commune to obtain a business license. A milk tea shop pays only presumptive tax as an individual household business.
– Preparation
+ Research and contact equipment and ingredient suppliers in advance: preparation tools, sealing machines, flavorings, vegetables, fruit… Learn from contacts who have run this type of business; this is very important to avoid repeating their mistakes during startup.
+ Research the location carefully. Being near schools (high schools, universities), supermarkets, shopping centers, or companies is an advantage.
+ Startup timing: plan to launch during summer, when hot weather offers more favorable business conditions.
+ Design the menu: milk teas come in many flavors, including strawberry, chocolate, coffee, kiwi, and grape. Larger shops often add drinks such as smoothies and fast food such as beef balls and fish balls…
+ Prepare a detailed list of items and tools to buy, along with alternatives.
+ Plan marketing (banners, flyers, advertising), recruitment, and detailed business management (incoming ingredients, cashier operations, and staff management), plus specific operating arrangements for parking, servers, and payment collection…
Professional requirements
– Business planning
+ Research the local market and competitors, then select target customers and prepare a specific business plan.
+ Determine your business hours. You should focus on selling ice cream.
+ Plan marketing (banners, flyers, advertising…), recruitment, and detailed business management (incoming ingredients, cashier operations, and staff management)…
+ Plan monthly revenue, costs, and profit, allowing for losses during the first 3 months.
Professional knowledge and skills
+ Milk tea preparation knowledge: take a course or recruit experienced milk tea staff.
+ Pay attention to a youthful, dynamic style and atmosphere.
+ Customer service skills.
Experience
– Experience in other business sectors such as coffee and soft drinks is an advantage; you should carefully study the success of milk tea shops to learn more.
– Advantages
+ Research and contact suppliers in advance for ingredients (teas, seeds, syrups, fruit-flavored powders, milk powder…), fruit, ice, tables and chairs, and shop decorations… Learn from contacts who have run this type of business; this is very important to avoid repeating their mistakes during startup.
+ Research the location carefully (district, local population's educational profile, road access, ease of stopping outside…). Near an intersection with traffic lights, people waiting at red lights can readily notice your signs or new promotions.
When to start a business
+ Consider launching during the summer months for more favorable business conditions.
Collected
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