Teaspoon Franchise – Costs, Fees & Earning Stats
Net Worth Requirement:
Units in Operation:
$209,000 - $492,500
Founded in 2016, Teaspoon is a Boba tea franchise with locations in the United States. The company is co-founded by Amy Lai and is based in California.
Teaspoon is known for hand-craft premium tea, unique tea flavors using quality fresh ingredients, as well as its friendly and knowledgeable staff. They sell Boba tea blends as well as macarons.
In this article, we will take a look at the Teaspoon franchise, including the costs, fees, and earnings potential.
Is Teaspoon a franchise or chain?
Teaspoon is a franchise that started franchising in 2018. Teaspoon has since expanded to include locations in different states across the country. Teaspoon is known for its unique approach to tea, which focuses on handcrafted tea flavors. Teaspoon also offers a variety of other products, including coffee and macaroons.
While Teaspoon is not as large as some of the other franchises in the industry, it has nonetheless become a popular destination for tea lovers. Thanks to its commitment to quality and innovative flavors, Teaspoon is sure to continue growing in the years to come. Teaspoon remains focused on providing its customers with the best possible experience.
How many Teaspoon franchises are there?
Teaspoon is becoming a popular franchise. Teaspoon has 16 locations in the United States as of 2021 and is best known for its wide selection of showcase premium teas and a hand-crafted drink selection, as well as its core values. Those core values are care, connection, and gratitude.
Teaspoon exemplifies customer service and has gained a loyal following of customers who appreciate its unique approach to tea. With plans to continue expanding its reach, it seems likely that the number of Teaspoon franchises will only continue to grow in the coming years.
How much does a Teaspoon franchise cost?
A Teaspoon brand can be a great way to get started in the food service industry. But how much does it cost to get started? The answer may surprise you. While the upfront cost of a teaspoon franchise can vary depending on the location and size of the restaurant, the initial investment is $245,000 – $492,500. This includes operational support and marketing support as well as development support.
Of course, this is just the cost of getting started. Once you’re up and running, you’ll also need to factor in the cost of food, labor, and other operating expenses.
What is the Teaspoon franchise fee?
A Teaspoon franchise costs $45,000. This fee gives you the right to use the Teaspoon name and logo.
In addition to the initial fee, franchisees must also pay a 5% royalty on gross sales, as well as a 1% brand fund fee on gross sales. The minimum cash required to open a franchise is $75,000.
In addition, you will receive comprehensive training on how to run a successful Teaspoon franchise. Teaspoon helps to ensure that the franchisees are successful by giving them help and support. Teaspoon focuses on franchise development and has a vested interest in each Teaspoon store doing well.
Teaspoon is looking for hardworking and ambitious individuals who have a passion for tea. It’s also important that potential owners are willing to invest in their future and the community. Franchisees must be willing to collaborate with Teaspoon staff in order to deliver the best possible tea experience.
How much do Teaspoon franchise owners make?
Teaspoon is a popular franchise that offers a wide range of premium teas, coffees, and macaroons. The company has been in business for 6 years and has grown steadily in that time. But what does it take to be a Teaspoon franchise owner? And how much can you expect to earn?
With the costs of becoming a franchisee out of the way, let’s look at potential earnings.
For the year 2018, the average revenue for a Teaspoon franchise was $749,428 with median revenue of $729,271. The high-end revenue was $936,006 and the low-end revenue was $593,165.
For the year 2019, the average revenue for a Teaspoon franchise was $860,672 with median revenue of $864,227. The high-end revenue was $1,095,730 and the low-end revenue was $685,417.
For the year 2020, the average revenue for a Teaspoon franchise was $920,380 with median revenue of $907,651. The high-end revenue was $1,229,130 and the low-end revenue was $696,546.
As you can see, the average and median revenue for a Teaspoon franchise has increased over the years from 2018 to 2020. The highest revenue in 2020 was $1,229,130 and the lowest revenue was $696,546. Teaspoon is a franchise that has grown in popularity and profitability among the 5 locations over the years.
Of course, earnings will vary from location to location depending on factors such as location, size of the store, and the number of employees.
The Wolf’s Take 🍟
Full disclosure – I’ve never tried Boba tea, but DAMN those drinks look good! Next time I come across a tea shop I am 100% trying one.
As for Teaspoon’s numbers – they look rock solid. And in fact, at this early stage, their average unit volume is higher than most coffee chains out there, plus the investment profile is a little lower than the standard coffee shop.
That’s what we like to see!
For those who are unfamiliar, according to my handy google search – just like a latte tastes different from an iced coffee, Boba tea flavors will vary and each has distinct profiles. The difference is that boba tea has far more versatility, so while it can be creamy like a latte, there are also fruity flavors on the menu.
Guava sunset anyone??
The United States is far more of a coffee-drinking country than tea drinking country – whereas some Asian countries still drink far more tea than coffee. But Boba tea is without a doubt on the rise in the States, and was even declared by Yelp as the most popular delivery item early in covid in states like California, Hawaii, and Michigan!
Now could be a good time to evaluate this trend..before it fully takes off! 🚀
The Teaspoon franchise is a good way to get started in the food service industry. In addition, you will receive training on how to run a successful franchise. Teaspoon helps to ensure that the franchisees are successful by giving them help and support.
This is not investment advice. As always, do your own research and your own due diligence before investing and realize any investment may go to zero.