The Booming Business of Boba
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Bubble tea is the hottest food & beverage category of the modern age and has been growing non-stop across the West since the early 2010s. Unlike past fads, bubble tea has established its staying power as both a product and business. Bubble tea was introduced in the U.S in the 90s by Quickly and Tapioca Express. Starbucks, Dunkin, and Jamba Juice had shown how to snowball momentum from a single store into a franchise empire.
New brands like Gong Cha and Happy Lemon emerged across Asia, looking to replicate that success in boba. By the 2010s, competition had intensified across China and Taiwan with each new entrant adding their own spin. But as legacy coffee giants have stagnated and Asian-American culture has grown, bubble tea in the United States has become a gold rush. What was once a low-margin, niche business in the 1990s is now a high-margin, high-cash-flow business.
As the birthplace of boba in the U.S. and home to the largest population of Asian-Americans in the country, there are more bubble tea shops in LA than anywhere else. Los Angeles represents the forefront as consumption and standards are years ahead. Innovation is a prerequisite to survival. In this Modern MBA exclusive, we’re going on the ground to understand the booming economics of bubble tea and what it takes to win in this world from the lens of 3 different shops.
0:00 East to West Gold Rush
3:23 Sponsor Break (GrowthSchool)
5:09 From Goliath to David
21:51 Taiwanese Vertical Integration
34:08 Community-Led Growth
🧋 7 MILES TEA LAB (Hannah)
/ 7milestealab
2010 Sawtelle Blvd, Los Angeles, CA 90025
🧋 ODD ONE OUT TEA (Ron & Pat)
/ oootea.us
11301 W Olympic Blvd UNIT 124, Los Angeles, CA 90064
🧋 HEY HEY (Chris)
/ heyheydrinks
1555 Sunset Blvd, Los Angeles, CA 90026
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