Bristol bubble tea company CUPP has launched its first franchise store in Fieldgate Street, London.
After successfully opening five stores across Bristol and Cardiff, the brand is now looking to expand across the UK, with stores in Oxford, Soho, Maidstone, Manchester and Central London planed for spring 2021.
The global bubble tea market was valued at $1.89 billion (£1.38 billion) in 2018 but is expected to rise to $3.49 billion (£2.56 billion) by 2026 with a CAGR rise of 8.09% in the period.
CUPP is already in advanced talks with potential franchisees regarding its franchise package, which includes turnkey operations from £60,000, individually-designed stores to fit each specific store requirement and marketing and promotions support.
The company has so far identified more than 600 viable locations for franchisees in the UK.
CUPP claims to make its bubble tea in a unique way. It produces its own in-house real fruit purées and syrups by hand, using quality loose leaf tea, organic milk, premium milk substitutes, and fresh fruit and produce to flavour their bubble teas.
The firm said its aim is to improve the bubble tea industry as it is plagued with “cheap artificial ingredients” like fructose and sugary flavoured powders.
CUPP was launched in Bristol in 2012 after founder, Lee Peacock, returned from living in Taiwan for three years, where it is the national drink.
The ‘drink that you chew’ has gained momentum in the UK but the market is in its infancy compared to other regions like South East Asia and North America.