I heard that a new tea brand is listed today, and the founders are actually a couple born in the 80s, so powerful?
However, before they successfully landed in the capital market, the couple was so low-key that it was difficult to spot. They single-handedly founded this tea chain brand with more than 8,000 stores across the country, and earned 5.7 billion yuan in just one year, and finally appeared on the big stage of the stock exchange with a net worth of 13.4 billion.
What kind of couple are they, and how did they start from a small bubble tea shop and build such a tea empire in just over a decade?
Wang Xiaokun, born in the 90s, and Liu Weihong, born in 1981, the entrepreneurial story of this young couple can be said to be a legend within a legend. The two met and fell in love after graduating from college and embarked on the road of entrepreneurship together.
In 2008, Wang Xiaokun, who had just turned 25, and his wife Liu Weihong opened a 20-square-meter small milk tea shop next to Wenjiang No. 2 Middle School in Chengdu. At that time, the bubble tea shop was still very simple and only made by brewing, but with its low price and good taste, it was quickly favored by the student group.
Seeing that the business was getting more and more prosperous, Wang Xiaokun and Liu Weihong decided to expand, and soon opened a second branch on the campus of Southwestern University of Finance and Economics. The young couple found that they could not manage so many stores with just two people, so they registered the "Tea Baidao" trademark in 2010 and officially started the chain operation.
Unlike today's crazy expansion of new tea drinks, the number of tea stores at that time was relatively slow, and the number of stores did not exceed 100 until 2016. However, with the rapid popularity of milk tea among young people, Wang Xiaokun soon felt that he could not continue to take it slowly.
In 2018, Tea Baidao officially opened the whole country to join, focusing on first, second, third and fourth-tier cities. Wang Xiaokun has also comprehensively upgraded the brand, deeply bound to Panda IP, and developed some popular products.
This series of measures was immediate, and the number of stores began to soar, exceeding 500 after only one year, and since then, it has soared all the way, and now there are 8,016 stores in 31 provinces and cities across the country.
It is reported that Tea Baidao has now become the third largest freshly made tea brand in China, second only to Mixue Bingcheng and Gu Ming. What's even more jaw-dropping is that the company's net profit margin is as high as more than 20%, which has surpassed the industry giant Michelle Bingcheng.
This is due to the unique business model adopted by Chabaidao - not to be a physical store, but to focus on the wholesale of raw materials and equipment to franchisees. Ninety-five percent of Cha Baidao's revenue comes from this, rather than selling products directly to consumers. This "porter" type of profit model not only saves a lot of costs for Chabaidao, but also obtains more profits.
It can be said that the success of Cha Baidao is ultimately due to the diligence and wisdom of the couple. Rather than blindly pursuing scale expansion, they first carefully built a set of effective business models, and then gradually rolled them out, and finally created an industrial empire covering the whole country.
With more than 8,000 stores, an annual income of 5.7 billion yuan, and a net worth of 13.4 billion, this can't help but make people sigh, this is indeed a great couple born in the 80s! They started from an obscure small milk tea shop, and through their own efforts and wisdom, they have supported a tea empire worth billions of yuan, and achieved a gorgeous turn from ordinary to extraordinary.
What's even more admirable is that in this ups and downs of the entrepreneurial process, Wang Xiaokun and Liu Weihong have never separated. The two have always maintained a deep relationship between the couple, worked together and finally achieved brilliant achievements on the tea track. Such a couple combination is really enviable.
Many people may think that the business model of making money by selling raw materials is a bit "disgraceful". However, in the fierce competition in the tea market, Tea Baidao relied on its own insights and innovations, and finally defeated the industry leader Michelle Bingcheng and achieved a counterattack in profit margins. Isn't that a commendable form of business intelligence?
Of course, Chabaidao's IPO road was not all smooth sailing. On the day of listing, it suffered a breakdown, and the stock price plummeted by more than 38%, evaporating the market value of HK$6.9 billion. This is undoubtedly a wake-up call, reminding Chabaidao that the future development path is not all smooth sailing.
But as the young couple showed the same courage and determination as before, I am confident that as long as they continue to maintain their innovative spirit, Chamodo will continue to create miracles on the track in the future.
With more than 8,000 stores all over the country, an annual income of more than 130 billion yuan, and a value of 13.4 billion yuan, this post-80s couple has undoubtedly become a leader in the new tea industry. They used their own struggles to interpret what it means to be from a novice to a giant, from obscurity to overnight fame.
Such an entrepreneurial story has undoubtedly ignited the flame of hope for all young people with dreams. As long as you have determination and wisdom, even if you have an ordinary background, you can still achieve a career. The success of this couple has undoubtedly given us great encouragement and courage.
Perhaps in the near future, there will be more "post-80s entrepreneurial myths" like Chabaidao, which will continue to light up the brightest entrepreneurial stars of this era. I believe that as long as you dare to dream and act, anyone has the opportunity to become the next legend.