FranDevCo Announces Chatime as Newest Partnering Brand, Building Momentum for Q4

News provided by

Aug 29, 2023, 15:04 ET

Leading Global Bubble Tea Company Looks to FranDevCo to Lead its Franchise Development in the US

CHARLOTTE, N.C., Aug. 29, 2023 /PRNewswire/ -- FranDevCo, a franchise development company specializing in emerging and growth-oriented franchise brands, announces a new partnership with bubble tea company Chatime. Chatime is a large global company that is publicly traded and a global leader in the fast-growing bubble tea industry.

Chatime was founded in Taiwan in 2003 and has since grown to over 1,450 stores worldwide, operating in 62 countries across seven continents. The brand has officially relaunched on U.S. soil with its first corporate location that recently opened in Los Angeles California at the Westfield Culver City Shopping Center, with two more on the way in Fashion Centre Torrance and Westfield Fashion Square Sherman Oaks. With domestic expansion gaining steam, Chatime is achieving its mission to change the way the world drinks tea by creating fun and accessible beverage experiences for customers.

"FranDevCo's team of experienced franchise experts paired with Chatime's popular appeal and global standing will create more opportunity to bring a unique boba and beverage experiences to communities across North America," said FranDevCo's President and CEO Sung Ohm. "We look forward to helping Chatime grow its footprint while continuing to deliver on our mission of helping entrepreneurs find financial independence through franchising."

Chatime has become one of the largest bubble tea brands in the world. In 2019, Chatime acquired the largest Taiwanese tapioca pearl manufacturer, TEN EN TAPIOCA FOODS CO., LTD. The acquisition increased global market share and enabled Chatime to achieve vertical integration. As a publicly traded company, it quadrupled its stock value in 2019 from its mother company, La Kaffa. With supply chain resources, technology implementation, and global tea professionals, Chatime is taking over the global bubble tea market and ensuring more efficient supply, stable quality, and price.

"We are excited to enter into this partnership with FranDevCo so we can expand in the U.S. and deliver a unique boba and beverage experience to customers," said Chatime's CEO, Carlos Antonius. "Our support team has the knowledge and experience to help new franchisees navigate ownership and any potential growth that comes from investing in Chatime."

The worldwide bubble tea market is predicted to continue its growth trajectory in the future years. With a projected CAGR of 7.41% from 2023 to 2031 and the market worth $3.84 billion, up from an estimated $2.32 billion, the future is bright in the bubble tea market, making expansion in the US equitable for future franchisees. Bubble tea is becoming an alternative to sugary sodas or high-calorie drinks, aligning with the upward trend of health-conscious consumers. Many Chatime establishments have sugar-free syrups and dairy-free or soy-based milk replacements that contribute to the drink's increasing popularity.

FranDevCo provides outsourced franchise development services to national and international brands as they look to increase their footprint. The brand curates the entire franchise sales lifecycle from initial lead generation through prospect education to deal closure. FranDevCo works with franchisors to perfect their entire development process, bring qualified franchise leads, and drive explosive growth.

For more information about FranDevCo, visit frandev.co. To learn more about Chatime, visit Chatime.com.

About FranDevCo
FranDevCo is a franchise development company that works with emerging and growth-focused brands to produce rapid, sustainable growth by connecting top-performing franchisees to the right franchise opportunity. FranDevCo's mission is to drive successful growth through collaboration, processes, and proven systems. Current partner brands include Costa Oil, Temporary Wall Systems, Crushr, beem Light Sauna, Corporate Cleaning Group, Kitchen Solvers, Floyd's 99 Barbershop, Massage Heights, PatchMaster, and now Chatime. Learn more about FranDevCo at frandev.co.

About Chatime
Founded in Taiwan in 2003, Chatime, the fast-growing global bubble tea company, has grown to over 1,450+ stores worldwide, operating across 62 countries and nine continents. The brand has officially relaunched on US soil with its first corporate location opening of the Westfield Culver City location and two more to follow in Fashion Centre Torrance and Westfield Fashion Square Sherman Oaks. Globally, key locations include Australia, Canada, Japan, UK, USA, Northern Europe, Mainland China, Indonesia, Philippines, Malaysia, and more. Learn more about the growing brand at Chatime.com.

Media Contact: Leah Trice, Fishman Public Relations, 847-945-1300, or [email protected]

SOURCE FranDevCo