CUPP already in advanced talks with potential franchisees
CUPP is looking for investors following the company’s decision to franchise its retail concept.
The Bristol bubble tea brand, which was launched in 2012, has five stores in Bristol and Cardiff and is already in advanced talks with potential franchisees.
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CUPP franchises start from £50,000 and include full training, assistance with site selection, design and fit-out, plus marketing and promotions support. Multi-unit investors are welcomed, according to the company.
Originating in Taiwan, bubble tea is a term given to fruity and milk infused teas consisting of milk and chewy tapioca pearls.
The global bubble tea market was estimated to be worth $1.89 billion in 2018. This figure is expected to grow to $3.49 billion by 2026.
CUPP says it makes its bubble tea in a unique way. It produces its own fruit purees and syrups in-house and uses only quality loose leaf tea, organic milk and premium milk substitutes.
In 2013, the company won a SCEPTRE Award for its innovative shipping container cafe in Bristol, while last year CUPP founder Lee Peacock won the NatWest Entrepreneur of the Year (South West) accolade.