E09: [In-Depth] Bubble Tea in Southeast Asia
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Welcome back to The Impulso Podcast, your gateway to the fascinating world of business and technology. In this in-depth episode, we delve into the captivating realm of bubble tea, Southeast Asia's favorite drink. Building on the success of our viral report, "Bubble Tea - The Business Behind SEA's Favorite Drink," published in collaboration with Qlub in August 2022, we uncover the secrets behind the immense popularity of bubble tea and explore the lucrative market it has created. We kick off the episode by exploring the magnitude of the bubble tea market in Southeast Asia. Delve into its origins and the pivotal moment when it began to take off in the region. We also examine the factors that contribute to its universal appeal, making it a beloved beverage across diverse cultures and demographics. Transitioning to the business side of bubble tea, we delve into the process of starting a bubble tea business. Gain insights into the ease of entry into this market, the necessary steps involved, and the potential challenges and opportunities entrepreneurs may encounter. From sourcing ingredients to designing unique recipes, we walk you through the intricacies of launching a bubble tea venture. Naturally, the question of profitability arises. We explore the lucrative nature of the bubble tea industry and discuss the factors that contribute to its financial success. We dissect the different business models employed by bubble tea brands, ranging from affordable options to high-end establishments. Additionally, we delve into the concept of a "moat" and how players in the market build and sustain their competitive advantage. As we approach the conclusion of the episode, we address a crucial question: What advice would we give to someone who reads the staggering number of 3.6 billion, as highlighted in our viral report, and thinks it's time to start a bubble tea store or brand? We provide insights and considerations to help aspiring entrepreneurs navigate the complexities of the market and make informed decisions. Join us for this captivating episode of The Impulso Podcast, where we unveil the business of bubble tea. From understanding the market's size and appeal to exploring the journey of starting a bubble tea business and assessing its profitability, we provide a comprehensive exploration of this popular and lucrative industry. Report referenced: https://momentum.asia/product/bubble-tea-in-southeast-asia/ Momentum Academy’s immersive bubble tea workshop: https://www.momentum.academy/workshops-simulations-1/sip%2C-innovate%2C-repeat---lessons-on-innovation-