Congrats, it takes balls to get out there and do something yourself
Ive worked as a business coach back in OZ and mainly helped start ups or failing companies so I have an idea of what Im talking about here so bare
1st off, Living in Asia for the past 6 years Im very familiar with Bubble tea, I havent been in a Western country for awhile but last time I was
Bubble tea franchises were mainly frequented by Asian customers, Is there a large Asian community where you are?
2nd Is there any other Bubble tea sellers where you are? Im assuming no from the way you suggested people may not have heard of it. If its a saturated
market dont even bother but if your the 1st then all good.
3rd for your product dont bother with online marketing, a FB page is plenty initially, yours isnt an item that people are going to google prior to
purchasing especially if its not a product your potential customers are familiar with. 1 of the biggest mistakes alot of start ups make is investing
large amounts of time, energy, effort and $$$ on an online presence or web page only to find 6 months later that the 200 visits they had were from
friends and family who are just looking out of curiousity and already knew all about the business/product.
4th Location location location, you need to be in a high volume foot traffic area, yours is not a product people will travel for miles to buy but will
drop in if they are walking past or work nearby.
5th before you go investing anything do your market research? What is your potential customer base? Will it suit the local palette? can your customers
afford to buy it regularly?
6th Many 1st time business owners are very unrealistic with their projected earnings, most have the mentality of "if I build/supply it they will
come/buy it" This is 90% of the time is not the case. What are you basing your 1st months projected earnings on? Is the $2000 net or gross profit?
Will you need to employ people? whats the cost of equipment? how much will permits and health and sanitation checks cost? etc etc
To start a business is easy, to keep a business running successfully and profitably can be difficult especially when starting out and doubly
especially when introducing a new product into a market.
With the right Planning, Preparation and Marketing (or PPM) almost anything can be a viable business as long as you keep your expectations realistic.
Many new business owners become disenfranchised (unintended business related pun there) when the business fails to meet there early expectations.
Realistically (depending on the business and start up capital) you should not expect to turn a profit or be in the green for at least a few months,
but hard work and perseverance combined with PPM will pay off.
Not sure if you have already considered this andI dont wanna teach you to suck eggs so to speak so Ill stop here but if you need any advice or help I
would be happy to discuss via email or Skype, but be warned!!!
If I help you turn a small mall stall into a world wide Bubble Tea conglomerate I will expect free Bubble tea for life
Best of luck and would be more than happy to have a chat