A food truck parked beside a night market. On its first night, it made 119.6 yuan in sales. A year and a half later, the same brand had 20 locations and sold 60,000 to 70,000 cups of lemon milk tea a month.
The owner is Wang Yuxuan, 21, a third-year student at China Jiliang University and a native of Huzhou. The brand is called Tenjoy. Her business partner is a senior who is pursuing a PhD. Last April, the two of them set up their first little cart in the Xiasha university district.
The prices were written on a small blackboard: less than 10 yuan a cup, or two for 15. They sold only a dozen or so cups on the first night.
My take is that the numbers hold up. Twenty stores and monthly revenue of over a million yuan sound like a fairy tale. Later, in front of a reporter, she opened her ledger and laid out the figures line by line. On average, each store brings in 60,000 to 70,000 yuan a month. After rent, utilities, staff wages, and ingredients, she and her partners are left with 7,000 or 8,000 yuan each.
She also answered questions about the money. There’s no franchising. The first store cost 30,000 yuan. She put in her own New Year’s gift money, and her senior covered half of what was left.
The stall is less than 10 square meters. She talked the landlady into letting her defer six months’ rent. The fridge cost a few hundred yuan, and the ice maker 1,400. She went through the list for the reporter: everything was picked up secondhand.
She gave one explanation for how they expanded so quickly. An out-of-town milk tea company set its sights on Hangzhou and opened a store there. She and her senior immediately decided to follow suit. As she put it, “If you don’t secure a foothold in this market first, someone else will come and take it.” Most of the later stores came through people they knew. They have 11 locations in Hangzhou, as well as stores in Wenzhou, Jinhua, and Jiaxing. In Nanjing, Ma’anshan, and Jingzhou, classmates and friends put up the money; she provided the recipes and handled operations.
For people in crypto, the familiar part may not be the million-yuan monthly revenue, but those other eight characters: “A million in sales; seven or eight thousand take-home.” Projects report trading volume, TVL, and user growth, but few lay out that final figure for outsiders to see. She opened her ledger and, in effect, demonstrated it for everyone. To scale up, her 20 stores had to be opened one by one, selling each cup for 9.9 yuan. An on-chain project that wants the same impressive appearance can get there with a single PDF.
There are also things I’m not sure about. The report doesn’t give details on how much the out-of-town stores invested or how profits are split, so I won’t speculate. Only they know whether their joint-operation model is really sustainable.
Her words were: “As a university student, you should work quietly and talk about it once you’ve succeeded.” The road is long. The books have to be kept one entry at a time, and the stores opened one by one.
$BTC $ETH $USDC
#大学生创业 #杭州 #奶茶 #Startups
The owner is Wang Yuxuan, 21, a third-year student at China Jiliang University and a native of Huzhou. The brand is called Tenjoy. Her business partner is a senior who is pursuing a PhD. Last April, the two of them set up their first little cart in the Xiasha university district.
The prices were written on a small blackboard: less than 10 yuan a cup, or two for 15. They sold only a dozen or so cups on the first night.
My take is that the numbers hold up. Twenty stores and monthly revenue of over a million yuan sound like a fairy tale. Later, in front of a reporter, she opened her ledger and laid out the figures line by line. On average, each store brings in 60,000 to 70,000 yuan a month. After rent, utilities, staff wages, and ingredients, she and her partners are left with 7,000 or 8,000 yuan each.
She also answered questions about the money. There’s no franchising. The first store cost 30,000 yuan. She put in her own New Year’s gift money, and her senior covered half of what was left.
The stall is less than 10 square meters. She talked the landlady into letting her defer six months’ rent. The fridge cost a few hundred yuan, and the ice maker 1,400. She went through the list for the reporter: everything was picked up secondhand.
She gave one explanation for how they expanded so quickly. An out-of-town milk tea company set its sights on Hangzhou and opened a store there. She and her senior immediately decided to follow suit. As she put it, “If you don’t secure a foothold in this market first, someone else will come and take it.” Most of the later stores came through people they knew. They have 11 locations in Hangzhou, as well as stores in Wenzhou, Jinhua, and Jiaxing. In Nanjing, Ma’anshan, and Jingzhou, classmates and friends put up the money; she provided the recipes and handled operations.
For people in crypto, the familiar part may not be the million-yuan monthly revenue, but those other eight characters: “A million in sales; seven or eight thousand take-home.” Projects report trading volume, TVL, and user growth, but few lay out that final figure for outsiders to see. She opened her ledger and, in effect, demonstrated it for everyone. To scale up, her 20 stores had to be opened one by one, selling each cup for 9.9 yuan. An on-chain project that wants the same impressive appearance can get there with a single PDF.
There are also things I’m not sure about. The report doesn’t give details on how much the out-of-town stores invested or how profits are split, so I won’t speculate. Only they know whether their joint-operation model is really sustainable.
Her words were: “As a university student, you should work quietly and talk about it once you’ve succeeded.” The road is long. The books have to be kept one entry at a time, and the stores opened one by one.
$BTC $ETH $USDC
#大学生创业 #杭州 #奶茶 #Startups