Chances are, if you’ve stumbled across this page, you’re thinking about getting into franchising. And why wouldn’t you be?
Franchising is a wonderful opportunity to own and run a business that is already branded and established. You have the chance to take part in your favorite company and run a part of history.
However, there can be some major stressors and challenges that come with franchising. When you take on the responsibility of running a business that someone else built from the ground up, you have someone else’s reputation on the line.
Their hard work went into creating that establishment and you now have to continue the same vision and standards that the founder has established.
It can be a very rewarding experience overall, however. Your first decision would be to decide on the industry you want to work in.
Since you’re here, I’ll take a wild guess and say that you have your eyes on Kung Fu Tea. Or maybe you have no idea what I’m even talking about.
Either way, I’m going to go through all of the major franchising details on Kung Fu Tea, the bubble teas and signature drink making establishment.
Kung Fu Tea: A Bubbly Experience
Bubble tea is becoming increasingly popular across the US. It’s easy and for the most part, healthy. But what most people don’t realize is that the bubble tea that has made its way to shopping centers and malls taste nothing like the traditional Asian bubble tea.
Kung Fu Tea has changed the game entirely by bringing authentic tasting bubble tea to America. They offer this amazing tea plus other signature drinks with yogurt, milk, slush, and punch.
The company strives to always be constantly improving and expanding their business. And they don’t disappoint. This establishment brings a taste of Asia straight to our country. And people are loving it!
Since their mission is to consistently grow and expand, the company also offers a wonderful franchise opportunity for those that share their passion. You have the chance to start your very own Kung Fu Tea business in your neighborhood. How awesome is that?
So, what’s the deal with this opportunity and how about the details? Well, let’s get into that right now!
Major Details on Franchising Kung Fu Tea
Not every franchise opportunity is made the same. Some are wonderful while others seem to be more trouble than it’s worth. We’re looking into Kung Fu Tea to see how their opportunity rates and figure out if it’s a good choice for you.
When we take a look at the growth of the franchise outlets, there is a definite rise which is a pretty good sign. In 2010 there were zero franchises running, but in 2017 that number rose to 127.
So we can assume that this establishment has definitely grown in popularity. But we also need to look at the turnover rate of this franchise to see if those franchise outlets are transferring or terminating their agreements.
The turnover rate clues us into the health of the franchise business. If the number is too high it could indicate that the previous franchises decided that there wasn’t much money to be made.
When we take a look at the turnover rate for Kung Fu Tea, it’s decently low at a 2. This is a very good level for the rate to be at. Especially since the total number of outlets is 127. I would say that the one negative to this franchise opportunity is the lack of financial transparency of the company.
As recorded, the company seems to not share and revenue or data details on current franchise outlets or the details on company-owned locations.
So the growth and turnover rate both look good but what about the requirements to own the business? There are a few things that you need to check into before making any final decisions. And the cost of investing could totally make you want to forget about the opportunity entirely.
Luckily? Kung Fu Tea isn’t too pricey.
The initial franchise fee is marked between $25k and $37k, while the total investment will run you anywhere between $124k and $430k. For the initial term agreement, you’ll be signing into a 10-year contract with the company and then another 10 years if you decide to renew.
This agreement matches up with what most of the competitors are requiring. And in some cases, it’s even shorter. In my opinion, it’s the perfect length for you to decide on whether or not the business is working in your favor and if it’s worth the investment.
There are, however, a couple other fees that you’ll have to pay yearly when you run this franchise. The royalty fee is 4% and the advertising fee is 2%. Both of these ongoing fees are lower than the competition. Which definitely tells us that this opportunity is a pretty good one.
There are a few other benefits that you get when you choose to franchise Kung Fu Tea. Such as on the job training along with computer and technical support.
This can be extremely helpful to you when you have no idea what you’re getting into. The on the job training can teach you the ropes and set you up for success.
And while you won’t get any refunds, discounts, or financing, the company does provide you with territory rights to the franchise outlet.
Wrapping it Up
As you can see, this franchise opportunity definitely holds up to be a fantastic option. There are a lot of benefits to franchising Kung Fu Tea, and the fact that it’s an authentic bubble tea establishment is just the beginning of the fun.
There has been an obvious growth in the number of outlets and the turnover rate indicates good health of the company. You won’t have to sell your soul to invest in the opportunity either.
Overall, this opportunity seems incredible and well worth the cost and ongoing fees. Kung Fu Tea has a great thing going here and if your vision and passion is anything like theirs, then this would be a fantastic choice for your new franchise business.
Why Lead Generation Business An Important But Scalable & Long-Term Business Plan Versus Franchising In 2019
There are tons of businesses out there. Yet, only a few to none of them gives me a chance to give a huge impact to others in need of my knowledge and skills for their businesses.
As passionate as I am when it comes to this industry, especially in sales, I love helping other people by what I’m doing. And as far as I’ve recalled my previous experiences in business, only the lead generation business makes it possible for me.
Nowadays, there are tons of potential markets out there. The problem is most of the small business owners don’t know or don’t have the time to learn how to position their selves right online because they the skills needed for it.
When I decided to do the lead generation business after I quit my job of 3 years in a Japanese auto parts company, I got the chance to reach out to these small business owners and deliver the leads I generated from the lead gen sites I created in exchange for the monthly paycheck.
This is exactly what happened to one of my first clients in Lansing, MI. Take a look at the lead gen site I made for around 6 hours for a Limo company. The work included the creation of the simple website that looked like this and the ranking on Google’s top page.
Until now, they’re paying me for $750 every month for 4 years now. That means I am earning $9,000 per year and in 2019, I have $36,000 with a 6-hour work. That’s how great the lead generation business when it comes to earning your passive income.
How is this possible?
There are more or less 30 million registered small businesses across the US with 50 different markets operating and serving specific customers. If we do the math, that gives you a rough figure of 1.5 billion potential markets to approach and choose.
With 1.5 billion small businesses, it’s impossible if you won’t land to at least one client and create a lead gen site for them. For them, it’s a must-have to increase their online visibility because of their potential customers lurking around the internet.
In fact, there are around 4.6 billion internet users in 2019 and surpassing 5 billion in 2020. This gives them an idea of spending some time or bucks to generate the leads—their bread and butter—for their business to survive. The issue is they don’t know how.
This is where you can be of help. If you want to get into this, you can go and visit our lead generation coaching program to learn the following:
- The High-Income Skills. The very foundation of your business. It’s the skill that gives you the financial confidence through developing your skill to earn millions without being too sales-y to your clients. It’s the skill that pays the bills and brings you the fortune.
- The EXACT blueprint en route to your 6- to 7-figure in residual income through building more and more lead gen sites how I, as well as other successful online entrepreneurs, do to where we are now.