Boba Cucue Franchise Cost, Revenue & Review 2026
Formerly known as Boba Pub
- Investment
- $200K – $383K
- Disclosed sales
- partial, no system average
- SBA charge-off
- Under 10 loans (1)
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Boba Cucue is a bubble tea franchise serving boba milk teas, fruit teas, and specialty drinks. Franchisees run the shops, managing drink prep, ingredient inventory, and counter service.
FranchiseVerdict summary · 2026
A Boba Cucue franchise requires a total initial investment of $200K – $383K, including a $40K franchise fee and an ongoing 5.5% royalty[2]. The 2025 FDD on file does not yield a unit-revenue figure we can publish. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: 2025 filing · Data extracted: · Last cited check: · Staleness risk: medium - a newer filing may exist
Evidence: partial✓ Investment (Item 7)✓ Item 19 status✓ Units and owners (Item 20)✗ SBA loan coverage✓ Litigation (Item 3)✓ Financial statements (Item 21)✓ Franchisor identityhow this is scored6 of 6 headline figures on this page cite a page of the filing.
Overview
- Investment
- $200K – $383K
- 22nd pct Service Resta…
- Avg gross sales
- N/A
- Company-owned only
- Royalty
- 5.5%
- 44th pct Service Resta…
- Units
- 14
- 44th pct Service Resta…
- SBA charge-off
- N/A
Quick verdict · Quick-Service Restaurants · color = vs category peers
Green = favorable by >10% vs Quick-Service Restaurants median · No shading = within ±10% · Red = unfavorable by >10% · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Bottom line
- COSTTotal investment $200K – $383K including a $40K franchise fee, 5.5% ongoing royalty.
- RETURNSItem 19 reports outlet revenue, but not in a form that yields a per-outlet average we can compare across brands.
- RISKVerdict B (Above average), verdict score 49/100 (higher is better).
- GROWTHPositive: net +5 franchised outlets in the latest year (5 opened, 0 closed) (Item 20).
- DATAItem 19 reports outlet revenue, but not in a form that yields a per-outlet average we can compare across brands. Ask franchisees directly for full unit-level revenue.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Boba Cutea US Group, LLC
- Predecessor
- Boba Cutea
- Prior franchisor entity
- CEO title
- Co-owner / Managing Member
- Chung Kit (Gary Lo)
- Incorporated in
- AZ
- HQ
- 694 S. Cooper Road, A1, Gilbert, AZ 85233
- Auditor
- Naper CPA Group
- Audited financials
- Franchisor revenue
- $412K
- vs $258K prior year
Affiliated brands
- Boba Cutea USA
- Bobacutea Phoenix
- Boba Cutea Mesa
- Bobacutea Chandler
- BobaCutea Supply
- businesses do
Other brands the franchisor or its parent operates (Item 1).
Overview
About
- CEO
- Chung Kit (Gary Lo)
- Headquarters
- AZ
- Founded
- 2023
- FDD year
- 2025
- States available
- 5
Can you afford it, and what does the money buy?
Entry cost runs 40% below the typical quick-service restaurants franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown15 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Initial Franchise Feenot refundable | $40K | $40K | |
| Rent and Lease Security Deposit | $2K | $10K | |
| Utilities | $1K | $2K | |
| Leasehold Improvementsnot refundable | $40K | $100K | |
| Market Introduction Programnot refundable | $3K | $7K | |
| Furniture, Fixtures, and Equipmentnot refundable | $60K | $120K | |
| Computer Systemsnot refundable | $4K | $5K | |
| Insurancenot refundable | $350 | $4K | |
| Signagenot refundable | $4K | $7K | |
| Office Expensesnot refundable | $500 | $1K | |
| Inventorynot refundable | $15K | $25K | |
| Licenses and Permitsnot refundable | $1K | $3K | |
| Professional Fees (lawyer, accountant, etc.)not refundable | $1K | $3K | |
| Travel, Lodging and Meals for Initial Trainingnot refundable | $3K | $6K | |
| Additional Funds (first 3 months)not refundable | $25K | $50K | |
| Total initial investment | $200K | $383K |
Line items extracted from FDD Item 7. Ranges reflect the franchisor's stated low and high per line. Total is the sum of line-item lows / highs — actual costs may fall outside this range depending on market and build-out scope.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $200K – $383K
- Top 40% of category vs category
- Liquid capital req'd
- $25K – $50K
- Middle of category vs category
- Franchise fee
- $40K – $40K
- Middle of category vs category
- Royalty
- 5.5%
- typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 6.5%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 5.5% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Technology fee | $100 |
| Training fee | $350 |
| Transfer fee | $10K |
| Inventory (initial) | $15K – $25K |
| Total fee load | 6.5% of rev |
What do units actually make?
Source: FDD 2025 · Item 19
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
No Item 19 revenue figure for Boba Cucue is on file. The return models need a revenue figure to start from, and the operating costs that turn gross sales into a profit are in no FDD. Enter your own and the calculator runs on your assumptions — nothing here is modelled until you do.
Returns model · single-unit ROIC
What would one Boba Cucue unit return on the cash you put in?
Illustrative category typicals — not sourced to any filing, survey or sample. Replace them with figures from franchisee validation calls before you rely on the output.
Unlevered ROIC · per unit
Your modelled return on total invested capital, before any debt financing.
—
An FDD discloses gross sales, not profit. We hold no sourced figure for annual revenue, COGS, labour, rent / occupancy and other operating costs, and will not substitute an assumed one. Enter your own and the model runs on your assumptions.
These models are for research and scenario planning only. Not investment advice. Actual results depend on your specific location, management, and market conditions. Consult a franchise attorney and accountant before signing any franchise agreement.
Item 19 · Source: 2025 FDD
Financial Performance
Company-owned outlets only - not franchisee performance
- Item 19 type
- affiliate owned
- Sample size
- 4 outlets
- vs category median 19 · small
- Range (low → high)
- $375K→$412KCited, not corroborated — printed on page 41 of the 2025 FDD. Nothing else in our record independently restates or re-derives it.
- Cohort dispersion (min → max)
- Reporting year
- 2024
- Fiscal year the figures cover
- Source filing
- FDD 2025
- Disclosed in the 2025 filing, covering 2024
- Transparency
- 3 / 10
- vs category median 4 / 10 · below
Compared against 781 Quick-Service Restaurants brands
Operator outlook
What the numbers say
Data-driven interpretation of this brand's financial disclosures, fee structure, and system trajectory.
Fee burden
Total ongoing fee load of 6.5% (near the Quick-Service Restaurants median).
Disclosure
Item 19 reports outlet revenue, but not in a form that yields a per-outlet average we can compare across brands.
Operator retention
Net unit growth of +100.0% over 3 years (5 opened, 0 closed).
Source: FDD Item 19 financial performance representations and publicly filed FDD data. Past performance is not indicative of future results. Verify all figures with the franchisor and current franchisees before making any investment decision.
vs Quick-Service Restaurants medians
How Boba Cucue Compares
Category median of published Quick-Service Restaurants brands that report the figure; the middle half spans the 25th to 75th percentile and n counts the brands behind it. Medians are used because a few very large systems pull an average far from the typical brand. Revenue is disclosed gross sales, not profit.
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 14
- Opened
- 5
- Last reporting year
- Closed
- 0
- Turnover rate
- N/A
- Company-owned
- 4
- Corporate units in the system
- % franchised
- 71%
- vs corporate-owned
- Net growth (3-yr)
- +100.0%
- Net unit change over 3 years
Last fiscal year · Item 20 exits and transfers
- Signed, not yet open
- 0
- 0.00 per open outlet · Item 20 Table 5
- Projected new
- 6
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 12 · 5 states reported
The Territory Map
FDD Item 12 reports the state count, but the specific list isn't in our current data. The map will appear once we re-extract from the FDD or enough franchisee contacts are available.
5
states with franchisees (per FDD Item 12)
Fast growth in a small system. Newer franchisors expanding quickly may not yet have the support infrastructure of larger systems.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA loan disclosures. This brand has only 1 7(a) loan on file; statistical reliability is limited below 10 loans.
- Total loans
- 1
- Loan volume
- $150K
- Median loan
- $150K
- 50th percentile
- Charge-off rate
- Under 10 loans (1)
- Insufficient SBA coverage: 1 loan, rate hidden below 10
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- Under 10 loans (1)
- 5-yr charge-off
- Under 10 loans (1)
- Loans approved 2021+
- Active lenders
- 1
- Defaults
- N/A
Explore lender portfolios on Bank Reports or regional data on State Reports.
What could kill this investment?
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
0 case reference(s): 0 pending, 0 settled.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Naper CPA Group
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Item 8 discloses franchisor total revenue in the prior fiscal year was $412,045, of which $311,500 (75.6%) was from required purchases/leases by franchisees. Item 21 states audited financials as of 12/31/2023 and 12/31/2024 are in Exhibit F, but only the unaudited opening balance sheet dated 1/15/2023 (Total Assets $1,000, Total Liabilities $1,000, Member's Equity $0) was present in the extracted text; the audited statements were not captured.
Supplier relationship · Items 8 & 16
- Franchisor sells you products: Yes
- Kickbacks from required suppliers: No
- Must buy proprietary products: Yes
- Restricted to system-approved products: Yes
Score breakdown · what drove the 49 / 100 verdict
- 01MINORExtremely small system (14 units) with 100% YoY growth is mathematically suspect and indicates very recent or unstable expansion
- 02MEDHigh initial investment range ($199K-$383K) relative to disclosed revenue creates unclear payback period
- 03MINOR5.5% royalty on gross sales compounds profitability risk when net margins are unknown
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 6.5% of sales (royalty + ad fund), before rent and labor.
Source: FDD 2025 · Items 11, 12, 17
FDD Items 12, 15, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 3 |
| Territory type | Exclusive territory |
| Protected territory | Yes |
| Exclusive territoryℹ | Yes |
| Territory population | 50,000 |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 5 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 30 days |
| Termination groundsℹ | 1 |
| Mandatory arbitration | Yes |
| Arbitration location | Gilbert, Arizona |
| Jury trial waiver | No |
| Governing law | AZ |
| Litigation count | 0 |
View Item 3 litigation summary
0 case reference(s): 0 pending, 0 settled.
Items 10, 11
Training & Operations
- Classroom training
- 96 hrs
- On-the-job training
- 48 hrs
- Training location
- Arizona (company-owned locations) or franchisee's location
- Ongoing training
- Optional
- Time to open
- 4 mo
- From signing to launch
- Franchisor financing
- Not offered
- Item 10
- POS system
- POS/CRM system
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: POS/CRM system
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Boba Cucue franchise?
The total investment to open a Boba Cucue franchise ranges from $200K – $383K, with an initial franchise fee of $40K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Boba Cucue franchise owners earn?
Item 19 of the Boba Cucue FDD discloses outlet figures from $375K to $412K but no single average across all outlets. These are gross sales figures, not profit; the Revenue section shows what the filing reports and on what basis. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Boba Cucue?
Boba Cucue is franchised by Boba Cutea US Group, LLC. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Boba Cucue FDD?
The FDD section where a franchisor may disclose financial performance of its outlets. Disclosure is optional and formats vary; figures are typically gross sales, which is revenue before expenses, not profit. FranchiseVerdict extracts these figures directly from the Boba Cucue FDD and qualifies whose outlets they describe.
What is Boba Cucue's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Boba Cucue (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Boba Cucue franchise locations are there?
As of their most recent FDD filing, Boba Cucue has 14 total units in the United States, including 10 franchised units and 4 company-owned units. 5 new units were opened in the latest reporting year.
Is Boba Cucue a good franchise to buy?
FranchiseVerdict rates Boba Cucue as a B-grade franchise with a verdict score of 49 out of 100 (higher is better). The grade is a deterministic score built from six weighted dimensions — financial health, unit economics, unit growth, scale, legal, and transparency — then calibrated against SBA loan charge-off rates and FDD age. Transparency is one of the six, so a filing that discloses less scores lower on that dimension than one that discloses more. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.