A camper van parked beside a night market brought in 119.6 yuan on its first night. A year and a half later, the same name was on 20 storefronts, selling 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, and her business partner is a senior who is pursuing a PhD. Last April, the two of them set up their first pushcart in the Xiasha university district. $ETH
The prices were written on a small blackboard: under 10 yuan a cup, or two for 15. They sold only a little over ten cups on the first night.
My take is that the numbers hold up. Twenty stores and monthly revenue of over a million yuan sounds like a fairy tale. But later, in front of a reporter, she opened her ledger and laid out the figures line by line. On average, each store brought in 60,000 to 70,000 yuan a month. After rent, utilities, staff wages, and ingredients, she and her partners were left with 7,000 to 8,000 yuan each.
She also answered questions about the money. There was no franchising. The first store cost 30,000 yuan: she put in her own red-envelope money, and her senior covered half of what remained.
The stall was less than 10 square meters. She negotiated with the landlady to defer six months’ rent. The refrigerator cost a few hundred yuan, and the ice machine 1,400. She gave the reporter a detailed breakdown: everything had been picked up secondhand.
She explained how they expanded so quickly. An out-of-town milk tea company set its sights on Hangzhou and opened a store there first, so she and her senior decided to follow suit right away. Her exact words were: “If you don’t claim your place in this market first, someone else will.” Most of the later stores came through people they knew. They opened 11 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 supplied the recipes and ran the operations.
For people in crypto, the familiar part probably isn’t the million-yuan monthly revenue, but these eight characters: “A million in sales; 7,000 or 8,000 in hand.” Projects report trading volume, TVL, and user growth, but rarely lay out that final figure for outsiders to see. She opened her ledger and, in doing so, demonstrated the point for everyone. Scaling up looks the same on the surface, but her 20 stores had to be opened one by one, with each cup selling for 9.9 yuan. An on-chain project looking for the same kind of impressive footprint needs only a PDF. $SPCX
There are also things I can’t verify. The report doesn’t give details on how much was invested in those stores outside Hangzhou or how profits are split, so I won’t speculate. Only they know whether their joint-operation model is truly sustainable.
#Strategy周五股价下跌9% #Celestia launches Eden, an AI agent testnet
The owner is Wang Yuxuan, 21, a third-year student at China Jiliang University and a native of Huzhou. The brand is called Tenjoy, and her business partner is a senior who is pursuing a PhD. Last April, the two of them set up their first pushcart in the Xiasha university district. $ETH
The prices were written on a small blackboard: under 10 yuan a cup, or two for 15. They sold only a little over ten cups on the first night.
My take is that the numbers hold up. Twenty stores and monthly revenue of over a million yuan sounds like a fairy tale. But later, in front of a reporter, she opened her ledger and laid out the figures line by line. On average, each store brought in 60,000 to 70,000 yuan a month. After rent, utilities, staff wages, and ingredients, she and her partners were left with 7,000 to 8,000 yuan each.
She also answered questions about the money. There was no franchising. The first store cost 30,000 yuan: she put in her own red-envelope money, and her senior covered half of what remained.
The stall was less than 10 square meters. She negotiated with the landlady to defer six months’ rent. The refrigerator cost a few hundred yuan, and the ice machine 1,400. She gave the reporter a detailed breakdown: everything had been picked up secondhand.
She explained how they expanded so quickly. An out-of-town milk tea company set its sights on Hangzhou and opened a store there first, so she and her senior decided to follow suit right away. Her exact words were: “If you don’t claim your place in this market first, someone else will.” Most of the later stores came through people they knew. They opened 11 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 supplied the recipes and ran the operations.
For people in crypto, the familiar part probably isn’t the million-yuan monthly revenue, but these eight characters: “A million in sales; 7,000 or 8,000 in hand.” Projects report trading volume, TVL, and user growth, but rarely lay out that final figure for outsiders to see. She opened her ledger and, in doing so, demonstrated the point for everyone. Scaling up looks the same on the surface, but her 20 stores had to be opened one by one, with each cup selling for 9.9 yuan. An on-chain project looking for the same kind of impressive footprint needs only a PDF. $SPCX
There are also things I can’t verify. The report doesn’t give details on how much was invested in those stores outside Hangzhou or how profits are split, so I won’t speculate. Only they know whether their joint-operation model is truly sustainable.
#Strategy周五股价下跌9% #Celestia launches Eden, an AI agent testnet