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    1 Reply Latest reply on Feb 4, 2017 9:02 AM by moderator_lee

    First venture in Bubble Tea

    do.nhi07 Newbie

      Hello! I am looking to start my first business in the bubble tea industry. In estimating my profit and revenue, I do not think it is very large all at and I might not be able to pay myself. However, I want to pursue the business industry and hopefully gain experiences in my first venture and continue to grow into opening other businesses. I decided to start with Bubble Tea because I'm a big consumer of the product and yet to find a decent shop in my town. I thought this is a great opportunity for me as I currently have limited competitors and a growing targeted market. However, I am lacking knowledge of the legal procedures (permit/license/asset&liability calculation/insurance/rent) and how to acquire a start up fee for my business. As for myself, my only knowledge of business come from marketing and accounting courses I have been taking in the pass few years and I would like to put my knowledge to test. Feel free to leave any questions and/or tips regarding this matter and how to write a full business plan. Thank you!

        • Re: First venture in Bubble Tea
          moderator_lee Tracker

          Congratulations on your endeavor, it's great to have you with us from the start. It sounds like you have chosen a niche you've got some passion for, which can be a great motivator to keep you going when times are challenging.

           

          For general information, tips, and answers to questions many like yourself just starting out will have, our Business Startups forum can be invaluable: Business Startups

           

           

          From your profile, it looks like you are in Oklahoma. So to start, it might be best to take a look at the website of the Oklahoma State Department of Health. Here they provide information on opening a new food establishment, rules and regulations, and a current list of fees: https://www.ok.gov/health/County_Health_Departments/Cleveland_County_Health_Department/Environmental_Health/Rules_and_Regulations.html

           

          Another thing you will want to do from the start is to establish yourself with an attorney experienced in the field with whom you can consult.

           

          Once you've got a business plan, you should also have an idea of the location and specific realty you may be looking for, and finally what type of start up capital will be needed. For the latter, discussing the possible option of a loan with your existing bank is one place to begin. One of our own contributors, Steve Strauss, has an excellent article on this often daunting step here: Getting a business loan in six steps

           

          Others here may have additional insights to offer, of course.

           

          We look forward to accompanying you via our community on this exciting new chapter in your life.

           

          Regards,

          Lee