Tiger Sugar Franchise Cost, Revenue & Review 2026
Data from FDD filing + SBA 7(a) records
Analysis by FranchiseVerdict Research · Methodology
Tiger Sugar is a bubble tea franchise known for its signature brown sugar boba milk drinks. Franchisees run the shops, managing drink preparation, ingredient inventory, and counter service in high-traffic spots.
FranchiseVerdict summary · 2026
A Tiger Sugar franchise requires a total initial investment of $307K – $550K, including a $85K franchise fee and an ongoing 7.0% royalty[2]. The 2025 FDD does not disclose unit-level revenue (no Item 19). FranchiseVerdict grade: C (Average), an editorial assessment, not investment advice. Run a live ROI scan →
Data last verified · figures per the 2025 FDD issuance
Overview
- Investment
- $307K – $550K
- 50th pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 7.0%
- 86th pct Service Resta…
- Units
- 63
- 70th 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 avg · 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 $307K – $550K including a $85K franchise fee, 7.0% ongoing royalty.
- RETURNSNo Item 19 financial performance data disclosed. The franchisor chose not to publish revenue figures.
- RISKVerdict C (Average), verdict score 60/100 (higher is better).
- FLAGAuditor disclosed a going-concern note, which flagged doubt about the franchisor's ability to continue operations. Verify against the latest FDD.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- Tiger Sugar Franchise USA Inc.
- Parent company
- Tiger Sugar International Co., Ltd.
- CEO title
- President and Chief Executive Officer
- Ming-Tsung Yang
- Incorporated in
- NY
- HQ
- 14223 37th Ave., Unit 5A, Flushing, NY 11354
- Auditor
- JTC Accountancy Corp
- Audited financials
- Franchisor revenue
- $1.9M
- vs $1.6M prior year
- ⚠ Going-concern note
- Disclosed in FDD 2025
- Auditor flagged doubt about continued operations. Verify against the latest FDD before deciding.
Overview
About
- CEO
- Ming-Tsung Yang
- Headquarters
- NY
- Founded
- 2019
- FDD year
- 2025
- States available
- 29
Can you afford it, and what does the money buy?
Entry cost runs 35% below the typical quick-service restaurants franchise.
Source: FDD 2025 · Items 5–7
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $85K | $85K |
| Working capital (3–6 mo) | $60K | $100K |
| Equipment, build-out, other | $162K | $365K |
| Total initial investment | $307K | $550K |
Source: Tiger Sugar 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $307K – $550K
- Middle of category vs category
- Liquid capital req'd
- $60K – $100K
- Bottom third — review vs category
- Franchise fee
- $85K – $85K
- Bottom third — review vs category
- Royalty
- 7.0%
- Net Sales · typical 6–8%
- Ad fund
- 1.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 7.0% of gross sales |
| Marketing / ad fund | 1.0% of gross sales |
| Transfer fee | $43K |
| Renewal fee | $503K |
| Total fee load | 8.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Tiger Sugar did not disclose financial performance in FDD Item 19. The ROIC and return models require Item 19 revenue. Without it all inputs are estimates. You can still run the calculator with your own assumptions by entering an expected revenue figure.
Returns model · single-unit ROIC
What would one Tiger Sugar unit return on the cash you put in?
Unlevered ROIC · per unit
Estimated return on your total franchise investment, before any debt financing.
21%
Below the 30–60% attractive-franchise band
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
This franchisor did not disclose financial performance representations in Item 19, or our extractor could not parse them.
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 8.0% (near the Quick-Service Restaurants average).
Disclosure
Franchisor chose not to disclose financial performance representations. You will need to gather unit economics directly from existing franchisees.
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 averages
How Tiger Sugar Compares
Is the system healthy?
Source: FDD 2025 · Item 20
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 63
- Opened
- 0
- Last reporting year
- Closed
- 6
- Turnover rate
- 9.5%
- Company-owned
- 18
- Corporate units in the system
- % franchised
- 71%
- vs corporate-owned
3-year detail · Item 20
- Opened (3yr)
- 0
- Transfers (3yr)
- 0
- Reacquired (3yr)
- 1
- Franchisor bought back
Last reporting year only, multi-year history not disclosed in this brand's FDD.
Item 20 · 17 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
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
- $100K
- Median loan
- $100K
- 50th percentile
- Charge-off rate
- N/A
- limited sample (1 loan) — rate not shown below 10
Historical SBA 7(a) lending data, not predictive of future performance. How SBA charge-off rates are calculated
- Repayment rate (PIF)
- N/A
- 5-yr charge-off
- N/A
- 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?
The auditor flagged going-concern doubt (Item 21) — the single biggest risk here.
Source: SBA 7(a) FOIA · FDD Items 3, 21
Risk analysis
FranchiseVerdict rating + FDD Items 3, 4, 8, 16, 21
Risk & Legal
⚠ Grade capped at C: the auditor disclosed a going-concern note (FDD Item 21). The verdict score reflects the underlying financials before that cap.
63-unit bubble-tea franchisor with one regulatory matter: a Feb 2021 Maryland consent order for selling a franchise before registration approval (cease-and-desist plus rescission). No bankruptcy; financials audited but Item 19 not disclosed. Financial detail is thin.
Audited financials (Item 21)
Yes · JTC Accountancy Corp⚠ Going-concern note flagged
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Score breakdown · what drove the 60 / 100 verdict
- 01MINORRegulatory consent order (Maryland 2020-0127) for pre-registration franchise sale
- 02MEDItem 19 not disclosed
- 03MINORNo bankruptcy; 63 units; financials not detailed
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 8.0% 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 | 5 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 1 |
| Territory type | Radius |
| Protected territory | Yes |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | New York |
| Litigation count | 1 |
Items 10, 11
Training & Operations
- Classroom training
- 2 hrs
- On-the-job training
- 37 hrs
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
29 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Tiger Sugar · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Tiger Sugar franchise?
The total investment to open a Tiger Sugar franchise ranges from $307K – $550K, with an initial franchise fee of $85K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Tiger Sugar franchise owners earn?
Tiger Sugar does not disclose average franchise owner earnings in their FDD Item 19. Not all franchisors are required to make financial performance representations. We recommend asking existing franchisees directly about their financial experience.
What is Item 19 in the Tiger Sugar 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 Tiger Sugar FDD and qualifies whose outlets they describe.
What is Tiger Sugar's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Tiger Sugar (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 Tiger Sugar franchise locations are there?
As of their most recent FDD filing, Tiger Sugar has 63 total units in the United States, including 45 franchised units and 18 company-owned units.
Is Tiger Sugar a good franchise to buy?
FranchiseVerdict rates Tiger Sugar as a C-grade franchise with a verdict score of 60 out of 100 (higher is better), based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. 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
Are you the franchisor?
If you represent Tiger Sugar, you can request corrections or provide updated information.
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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.