V. Competitive Analysis
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Direct & Indirect Competitors
The following bubble tea shops are located within a ten mile radius of [Company Name], thus providing either direct or indirect competition for customers:
Bubble Tea Heaven
Established in 1995, Tea Heaven is a small bit of heaven for those needing a break from all the hustle and bustle of downtown life. It offers a nice selection of tea drinks, including regular milk tea, green milk tea, and iced teas. The shop also provides a very cozy and calm atmosphere, making it a little slice of heaven for bubble tea lovers.
Though we expect Bubble Tea Heaven to continue to thrive, its menu is far more limited than the menu we are currently developing. They only offer a few types of drinks and only about half of the customizations. [Company Name] will offer a much greater variety so that all kinds of bubble tea lovers will be able to create their perfect drink.
Boba Café
Boba Café has been a popular location for bubble tea for decades. It is a small location that offers a drive-through and limited seating indoors. The small staff take hundreds of orders every day through the drive-through, mobile ordering, and orders placed in the cafe. They offer a long list of customizations so every customer can find something they will enjoy.
While Boba Café will continue to thrive, it is a small location that doesn’t offer much seating. The company expects customers to be in and out, taking their drinks on the go. Customers looking to relax and enjoy their drinks at the café will enjoy themselves more by frequenting [Company Name].
Bubble Tea House
Bubble Tea House is a popular bubble tea shop located on the other side of [Location]. It offers everything you could want from a bubble tea shop: multiple types of milk teas along with a countless number of flavors and customizations. The tea house also serves regular tea and offers a relaxing environment for customers to enjoy their drinks.
We expect Bubble Tea House to continue to be popular. However, they are located far from [Company Name], so we don’t expect them to be a significant competitor.
Competitive Advantage
[Company Name] enjoys several advantages over its competitors. These advantages include:
- Location: [Company Name] will be located in a high-traffic area that is easy for residents to access. The location is in a busy shopping center that receives thousands of visitors on a daily basis.
- Pricing: We offer high-quality bubble tea drinks for a moderate and competitive price.
- Variety: We offer the largest variety of bubble tea drinks, add ons, and customizations in the [Location] area.
