BOSTON--(BUSINESS WIRE)--Gong cha, the world’s premier bubble tea brand with more than 1,900 locations in 22 countries worldwide, is continuing its rapid growth in the U.S. In 2022, the brand grew its store count 35% YOY, opening 50 new locations, and expanding into three key territories, including the Midwest, the Rockies, and the South Central regions. Gong cha currently has more than 190 stores across 17 states and Washington, D.C and is projected to grow its store count by an additional 40% in 2023—adding 80 new locations—and is on target to exceed 500 U.S. stores by 2025. The brand will also mark a milestone this summer, celebrating the opening of its 2000th store worldwide. Additionally, in 2022 Gong cha brought on new Global CEO Paul Reynish. With over 25 years of executive leadership experience in the international franchise industry, Reynish has begun to implement new plans to accelerate the brand’s growth, drive operational excellence, and maximize franchise profitability.
“This is an exciting time for the bubble tea industry, and I believe we’re at the forefront of an emerging segment with enormous market potential,” says Reynish. “With our commitment to superior quality, simple and scalable operational model, strong corporate support for franchisees, and innovative master franchise program, Gong cha is positioned to become one of the world’s largest franchised brands.”
Bubble tea is a rapidly expanding category within the U.S. and globally. A report from Future Market Insights projects the U.S. bubble tea market to register a CAGR of 12.4% over the next decade, growing into a $5.5 billion industry by 2031. The analysis cites bubble tea’s customizability, variety, and its appeal as a trending beverage among younger consumers as fueling market growth. From June-November, 2022 alone, #BubbleTea garnered 1.8 Billion views on TikTok, now totaling 5.8 Billion views.
Gong cha is poised to capitalize on this increased interest from consumers and entrepreneurs, and continue its trajectory as the industry leader. In 2022, Gong cha achieved a 19% total system wide sales growth worldwide, and has increased global store count by an average of 17% YOY for the past three years. In the U.S. the brand will continue to expand across new states including Colorado, Michigan, Louisiana, and Illinois—with plans to open 50 locations in the Chicagoland area over the next five years. Gong cha also plans to expand its reach into additional U.S. regions, including the Pacific Northwest and the Southwest, with its innovative master franchise model, which allows seasoned entrepreneurs to develop a large territory.
In 2022, Gong cha garnered numerous industry accolades and rankings, including:
- Ranked #1 in the Tea category on Entrepreneur’s prestigious Franchise 500® list (2022)
- Selected as a finalist for Franchise Times’ list of Top Beverage Franchises To Buy (2022)
- Selected as a finalist for one of the Top 10 Global Food & Drink Franchises by the Global Franchise Awards (2022)
- Ranked #193 on Franchise Times’ Top 500 List, annual ranking of the 500 largest U.S.-based franchise systems by global systemwide sales (2022)
ABOUT GONG CHA
Founded in Taiwan in 2006, Gong cha is the world’s premier bubble tea brand. Its commitment to quality starts with its name: “Gong cha” means to offer the best tea to the emperor from all of one’s possessions. From the most seasoned bubble tea connoisseur to a first-timer, Gong cha offers its customers the ability to customize their beverage to their exact specifications, and never sacrifices flavor or technique. With over 1,900 locations across 22 countries, it is also one of the fastest-growing bubble tea brands, attracting entrepreneurs across the globe to its lucrative franchise program. For more, please visit gong-cha.com.