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ChatTime is the unique Bubble Tea Shop. ChatTime opens its first shop in Taiwan in 2005 and continues expanding its stores to 1000 in 80 cities worldwide. ChatTime can be found in the US, Canada, China, Japan, Philippine, Vietnam, Singapore, India, UK, UAE, Malaysia, Indonesia, Australia, Pakistan, and Myanmar. This business plan is to open an equally similar store, but smaller in size like ChatTime in the city of Guelph, Ontario. We will name our store ” T-Cozy Bubble Tea Shop – Guelph”. The desired location is the nearby Guelph University, which will attract many University students, especially Asians.
The plan will be written in first person, using “we”, “our” or “us”. It could cost over $100,000 to open a high-end bubble tea business. Plus, a successful bubble tea shop requires high-quality ingredient, good equipment and training, and well-trained employees. Thus, we plan to open up a store with a start-up cost around $40,000 – $50,000. Source of funds for starting up will be 1/4 split between the 4 of us. Also, we plan to gain positive cash flow by month 6. So we also make a Financial Plan of $15,000 to cover cash flow shortfall until our cash flow becomes positive. We might need some financing from bank to ensure a positive operation in the first year. We plan to open a 100 square foot shop with stainless steel counter space and sinks because a bigger shop will cost us more. Everything else will require customization later. Also, the required equipment includes stove, stirrers, plastic cups, and utensils etc. A small stove will consume less gas and save more in the long run. We will have to create Online business and social media tools include claiming our business through Google My Business, Open Table, or Instagram account to retain valuable customers.
On the other hand, we will provide quality product/services, hire knowledgeable and friendly employees, or offer a reward system for long-term buyers. Our goal is to sell 100-300 cups/ day. The bubble tea cup sealing machine will save money in the long run because the cost cheaper than the traditional lids and gives cups an authentic look. Other equipment includes blender, shaking cups, condensed or sweetened milk, fresh fruit, different sizes of plastic cups, fat straws, flavored powers, tapioca, tea, measuring scoops, hand gloves, etc. The ingredient will mainly be imported from Taiwan due to its high-quality and taste. Plus, Taiwan has SGS, HACCP, and ISO certified. We also plan to visit Taiwan and research many bubble tea shop before selecting the bubble tea supplier.
Partnering with a Bubble-tea influences or specialty food blogger can also increase our brand presence online, which helping us reach the right customers. Furthermore, we plan to get a proper training, especially for our employees, to ensure customer satisfaction. Likewise, we will need our own store uniform for our staff as well. We are looking to get an approved license from Canada Food Safety and hoping to open our store by November. This plan will be our sole income and we will put 100% effort into making a success in this business. Overall, we believe a key is to get things to start up right in the early stage and an effective operation and plan will save our time, effort and money.
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