Wanpo Tea Shop Franchise Cost, Revenue & Review 2026
- Investment
- $197K – $353K
- Disclosed sales
- not disclosed
- SBA charge-off
- Not SBA-matched
Data from FDD filing
Analysis by FranchiseVerdict Research · Methodology
Wanpo Tea Shop is a bubble tea franchise serving specialty teas, milk teas, and boba drinks with snacks. Franchisees run the shops, managing drink prep, inventory, and counter service.
FranchiseVerdict summary · 2026
A Wanpo Tea Shop franchise requires a total initial investment of $197K – $353K, including a $30K franchise fee and an ongoing 3.0% royalty[2]. This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. FranchiseVerdict grade: B (Above average), an editorial assessment, not investment advice. Run a live ROI scan →
Sources, dates and evidence
FDD issued: · Data extracted: · Last cited check: · Staleness risk: medium - issued 12 to 24 months ago; a newer filing is likely on file
Evidence: strong✓ 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 scored4 of 5 headline figures on this page cite a page of the filing; the rest are marked “Not cited” beside the figure.
Overview
- Investment
- $197K – $353K
- 21st pct Service Resta…
- Avg gross sales
- N/A
- Royalty
- 3.0%
- 1st pct Service Resta…
- Units
- 11
- 39th 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 $197K – $353K including a $30K franchise fee, 3.0% ongoing royalty.
- RETURNSThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
- RISKVerdict B (Above average), verdict score 51/100 (higher is better).
- GROWTHPositive: net +6 franchised outlets in the latest year (6 opened, 0 closed); 2 signed but not yet open (Item 20).
- DATAThis franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Item 1 · who you're contracting with
The Franchisor
Corporate structure & franchisor financials
- Legal entity
- AIM GOOD USA Corporation
- Parent company
- AIM GOOD International Co., Ltd.
- FDD Item 1, page 6 of the 2025 FDD
- Predecessor
- affiliates
- Prior franchisor entity
- CEO title
- Chairman and President
- Ting-Wei Chang
- CEO experience
- 6 yrs
- Years in role or industry
- Founder active
- Yes
- Original founder still leading the business
- Incorporated in
- Delaware
- HQ
- 919 North Market Street, Suite 950, Wilmington, DE 19801
- Auditor
- Chen & Fan Accountancy Corporation
- Audited financials
Overview
About
- CEO
- Ting-Wei Chang
- Headquarters
- DE
- Founded
- 2020
- FDD year
- 2025
- States available
- 5
Can you afford it, and what does the money buy?
Entry cost runs 43% below the typical quick-service restaurants franchise.
Source: FDD 2025 · Items 5–7
Full Item 7 breakdown20 line items
Initial investment breakdown
| Line item | Low | High | |
|---|---|---|---|
| Franchise Fee (Unit)not refundable | $30K | $30K | |
| Refundable Security Deposit (Unit) | $10K | $10K | |
| Minimum Royalty Fee (Unit)not refundable | $600 | $600 | |
| Brand Maintenance Fee (Unit)not refundable | $2K | $2K | |
| Design and Floor Plan Fee (Unit)not refundable | $3K | $3K | |
| Related Personnel Cost for Initial Training (Unit)not refundable | $4K | $4K | |
| Additional Training (Unit)not refundable | — | — | |
| Equipment (Unit)not refundable | $30K | $50K | |
| Utensils (Unit)not refundable | $2K | $3K | |
| Rent for a Tea Shop (Unit)not refundable | $2K | $10K | |
| Rental for Warehouse (Unit)not refundable | $0 | $5K | |
| Renovation (Unit)not refundable | $50K | $100K | |
| Initial Inventory (Unit)not refundable | $23K | $25K | |
| Licenses, Permits, Fees and Deposit (Unit)not refundable | $12K | $12K | |
| Point of Sale System (Unit)not refundable | $2K | $2K | |
| Office Equipment & Supplies (Unit)not refundable | $2K | $2K | |
| Uniforms (Unit)not refundable | $300 | $500 | |
| Insurance (Unit)not refundable | $5K | $15K | |
| Advertisement (Unit)not refundable | $1K | $1K | |
| Additional Funds - 3 Months (Unit)not refundable | $20K | $80K | |
| Total initial investment | $197K | $353K |
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
- $197K – $353K
- Top 40% of category vs category
- Liquid capital req'd
- $20K – $80K
- Top 40% of category vs category
- Franchise fee
- $30K – $30K
- Top 40% of category vs category
- Royalty
- 3.0%
- Set by a formula · typical 6–8%
- Ad fund
- 0.0%
- typical 3–5%
- Total fee load
- 6.0%
- vs 9–13% typical
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Royalty | 3.0% of gross sales |
| Marketing / ad fund | 0.0% |
| Technology fee | $161 |
| Training fee | $4K |
| Transfer fee | $10K |
| Renewal fee | $15K |
| Inventory (initial) | $23K – $25K |
| Total fee load | 6.0% of rev |
ROI & LBO modelsSingle-unit · 25-unit portfolio · editable
Wanpo Tea Shop makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. 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 Wanpo Tea Shop 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
No financial performance representation
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that.
Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
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 6.0% — below the Quick-Service Restaurants median of 7.5%.
Disclosure
This franchisor makes no financial performance representation in Item 19 of its FDD. Item 19 is voluntary under the FTC Franchise Rule, and this filing states that it makes none, so no revenue or earnings figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Operator retention
System expanding at 450.0% CAGR over 3 years across 11 units — operators are staying and new ones are joining.
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 Wanpo Tea Shop 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
- 11
- Opened
- 6
- Last reporting year
- Closed
- 0
- Terminated
- 0
- Franchisor ended the franchise (per Item 20)
- Non-renewed
- 0
- Term expired, not renewed (per Item 20)
- Turnover rate
- N/A
- Company-owned
- 0
- Corporate units in the system
- % franchised
- 100%
- vs corporate-owned
- Net growth (3-yr)
- Outlier (see FDD)
- Likely small-sample artifact
- 3-yr CAGR
- Outlier (see FDD)
- Likely small-sample artifact
Last fiscal year · Item 20 exits and transfers
- Terminated
- 0
- Not renewed
- 0
- Transferred
- 0
- Reacquired
- 0
- Franchisor bought back
- Signed, not yet open
- 2
- 0.18 per open outlet · Item 20 Table 5
- Projected new
- 2
- Franchisor's next-year forecast
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 4 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.
Available to sell in · Item 12
- Hawaii
- Illinois
- Indiana
- Maryland
- Michigan
- Minnesota
- North Dakota
- Rhode Island
- South Dakota
- Virginia
- Washington
- Wisconsin
States where the franchisor is registered to sell new franchises (FDD registration filings).
Where the owners are · Item 20 owner list
9 current owners across 4 states.
- CA 3
- NY 3
- WA 2
- TX 1
Counts only, from the list the franchisor prints in Item 20; 1 entries carry no state. Names and phone numbers are for your own due diligence and are not shown here.
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 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
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
Wanpo Tea Shop has one regulatory matter: a California DFPI Notice of Violation (2023) against parent Aim Good International for selling franchises without required registration. 11 units, all franchised, no bankruptcy or going-concern, but no Item 19 disclosure. A single registration-violation regulatory action on a small system keeps it minor.
Litigation (Item 3)
Subject: officers or affiliates. The franchisor is not a named party in these cases.
California Department of Financial Protection and Innovation Notice of Violation (app-25768) against Aim Good International Co., Ltd. for selling master and unit franchises in California without prior registration, violating Section 31110 of the California Franchise Investment Law. Order Approving Notice of Violation issued May 11, 2023. Company directed to offer rescission; franchisee declined and continued operations.
Bankruptcy (Item 4)
None disclosed
Audited financials (Item 21)
Yes · Chen & Fan Accountancy Corporation
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Item 21 states the franchisor's (Aim Good USA Corporation) audited financial statements as of Dec 31, 2024/2023/2022 are attached as Exhibit A, but Exhibit A is blank in this text extraction — no balance sheet, income statement, or auditor figures are present. Item 11 separately notes parent Aim Good Taiwan reported total revenue of $5,535,991 in FY2024, but that is the parent's figure, not the franchisor's audited statement.
ⓘ These are the parent company's consolidated financials (the parent guarantees the franchisor), not this brand's standalone results — the figure reflects the whole corporate group, not this brand alone.
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
- Can negotiate own supplier terms: No
Score breakdown · what drove the 51 / 100 verdict
- 01MINOR1 regulatory matter: CA DFPI Notice of Violation for unregistered franchise sales
- 02MINORSmall 11-unit system, all franchised
- 03MINORNo Item 19 disclosure
- 04MINORNo bankruptcy, no going-concern
Severity inferred from the FDD text · not a regulatory classification
What are you signing up for?
Ongoing fees run about 6.0% 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 | 3 years |
| Allowed renewalsℹ | 1 |
| Territory type | Protected territory |
| Protected territory | Yes |
| Exclusive territoryℹ | No |
| Territory radius | 1 mi |
| Online sales rightsℹ | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Required |
| Non-compete (years)ℹ | 2 years |
| Non-compete (miles)ℹ | 5 mi |
| Right of first refusalℹ | Yes |
| Transfer requires consent | Yes |
| Termination notice | 60 days |
| Curable defaultsℹ | 4 |
| Mandatory arbitration | No |
| Governing law | California |
| Litigation count | 1 |
View Item 3 litigation summary
California Department of Financial Protection and Innovation Notice of Violation (app-25768) against Aim Good International Co., Ltd. for selling master and unit franchises in California without prior registration, violating Section 31110 of the California Franchise Investment Law. Order Approving Notice of Violation issued May 11, 2023. Company directed to offer rescission; franchisee declined and continued operations.
Items 10, 11
Training & Operations
- Classroom training
- 52 hrs
- On-the-job training
- 60 hrs
- Training location
- On-site and corporate
- Ongoing training
- Required
- Site selection
- franchisee, subject to franchisor approval
- Franchisor financing
- Not offered
- Item 10
Items 5 & 11
Franchisor Support
Item 20 · call current owners
Franchisee Contacts
10 owners to call
Name · phone · city · state. Extracted from FDD Item 20
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Wanpo Tea Shop franchise?
The total investment to open a Wanpo Tea Shop franchise ranges from $197K – $353K, with an initial franchise fee of $30K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Wanpo Tea Shop franchise owners earn?
Wanpo Tea Shop makes no financial performance representation in Item 19 of its FDD - a voluntary item under the FTC Franchise Rule - so no unit revenue figures are disclosed. Declining to publish one is lawful and is not evidence of how the outlets perform. It does mean that less about this brand can be verified from its filing, and the FranchiseVerdict grade - an editorial assessment, not investment advice - reflects that. Item 20 of the FDD lists current and former franchisees; asking them directly is the standard way to fill this gap.
Who owns Wanpo Tea Shop?
Wanpo Tea Shop is franchised by AIM GOOD USA Corporation. Its parent company is AIM GOOD International Co., Ltd.. Source: FDD Item 1, 2025 filing.
What is Item 19 in the Wanpo Tea Shop 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 Wanpo Tea Shop FDD and qualifies whose outlets they describe.
What is Wanpo Tea Shop's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Wanpo Tea Shop (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 Wanpo Tea Shop franchise locations are there?
As of their most recent FDD filing, Wanpo Tea Shop has 11 total units in the United States, including 11 franchised units and 0 company-owned units. 6 new units were opened in the latest reporting year.
Is Wanpo Tea Shop a good franchise to buy?
FranchiseVerdict rates Wanpo Tea Shop as a B-grade franchise with a verdict score of 51 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
Are you the franchisor?
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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.