Anda Boba Tea franchise
2026 filing · February 28, 2026Growing
Anda Boba Tea at a glance
A bubble tea shop serving drinks to take away or enjoy on site. At the end of 2025 there were 6 Anda Boba Tea locations in the US, 2 franchised and 4 company-owned, so most are run by the company itself.
The business
- Franchisor
- Formosa United Inc
- The company that sells the franchises
- Typical size
- 350–750 sq ft
What you pay
- Cost to open
- $190K–$274K
- Fee, build-out and opening working capital
- Franchise fee
- $25K–$30K
- Paid once, when you sign
- Royalty
- 2%–4%
- 2% to 4% of gross revenues, paid monthly
- Renewal fee
- $15,000
- When the agreement ends and you sign again
- Agreement length
- 3 years
- Territory
- Protected
- Protected territory
- Franchisor financing
- None offered
Where it is
- US locations, 2025
- 6
- Franchised and company-owned
- Franchised
- 2
- Company-owned
- 4
- Change in 3 years
- +1
- Franchised locations, 2023–2025
- States
- 1
- Most in New York
From Formosa United Inc’s 2026 filing; SBA status from the SBA Franchise Directory, October 28, 2026.
Where it ranks
Anda Boba Tea among all franchises with the same figure.
| Figure | Anda Boba Tea | Among all franchises |
|---|---|---|
| Cost to open, midpointHalfway between the low and high estimate | $232,050 | Costs less than 65% of franchises |
| Franchise feePaid once, when you sign | $25,000 | Lower than 82% of franchises |
| US locationsFranchised and company-owned | 6 | Fewer than 69% of franchises |
How much a Anda Boba Tea franchise costs
Opening one Anda Boba Tea costs an estimated $190,300 to $273,800. That covers the franchise fee and everything else needed to open, through the first months of working capital.
The biggest costs are equipment and fixtures ($60,000) and equipment, furniture and fixtures ($20,000 to $40,000). Here is every line of the estimate as filed:
| What it pays for | Range | Low | High |
|---|---|---|---|
| Initial Franchise Fee | $25,000 | $30,000 | |
| Design Fee | $3,000 | $5,000 | |
| Security Deposit | $10,000 | $15,000 | |
| Equipment and Fixtures | $60,000 | ||
| Initial Inventory | $5,000 | $10,000 | |
| Marketing Fee | $300 | ||
| Grand Opening Advertising | $1,500 | $2,500 | |
| Training expenses | $10,000 | $12,000 | |
| Lease of Outlet premises and lease security deposit | $10,000 | $20,000 | |
| Leasehold improvements | $20,000 | $30,000 | |
| Equipment, furniture and fixtures | $20,000 | $40,000 | |
| Point of sale system | $1,000 | $3,000 | |
| Interior/exterior signs and graphics | $1,000 | $5,000 | |
| Professional fees | $1,500 | $3,000 | |
| Business licenses and permits | $1,000 | $5,000 | |
| Business insurance | $1,000 | $3,000 | |
| Additional funds – 3 months | $20,000 | $30,000 | |
| Total | $190,300 | $273,800 | |
Source: Formosa United Inc, 2026 filing, page 13
Anda Boba Tea franchise fee
The franchise fee is $25,000 to $30,000. You pay it when you sign the franchise agreement.
Source: Formosa United Inc, 2026 filing, page 9
Royalty and ongoing fees
| Royalty | 2% to 4% of gross revenues, paid monthly. |
|---|---|
| Renewal Fee | $15,000 |
| Additional Training Fee | Up to $5002 (per person per day) |
The typical franchise royalty is 6% of sales, plus 2% for marketing. See franchise fees and royalties to compare.
Source: Formosa United Inc, 2026 filing, page 10
Other fees as filed, from page 11. The filing lists every fee, including late fees and audit costs.
Sales and earnings
No figures Anda Boba Tea does not share sales or profit figures for its locations. Talking to current and former franchise owners is the usual way to learn what a location earns.
Source: Formosa United Inc, 2026 filing, page 40
- Estimate Estimated yearly sales per location
- $400K–$700K
Estimated from the sales that 292 comparable franchises file, matched on industry, format, cost to open, fees and size.
Growth and closures
Share of franchised locations, 2025 / 2023–2025. Typical means the median: half of brands are above it, half below.
| Measure | Anda Boba Tea | Typical bubble tea brand | Typical franchise |
|---|---|---|---|
| GrowthNet change in franchised locations | 0% / +100% | +12% / +100% | +1.2% / +10% |
| ClosuresTerminated, not renewed or stopped operating | 0% / 0% | 3.8% / 28% | 3.9% / 16% |
| Bought backLocations the franchisor took back | 0% / 0% | 0% / 0% | 0% / 0% |
Typical bubble tea brand is the median of the 11 brands in bubble tea franchises with three years of counts.
How Anda Boba Tea compares
Of the 56 bubble tea franchises on this site, Anda Boba Tea is the 19th cheapest to open and the 28th largest by number of locations.
| Figure | Anda Boba Tea | Typical bubble tea brand | Typical franchise |
|---|---|---|---|
| Cost to open, low end | $190K | $264K | $222K |
| Cost to open, high end | $274K | $502K | $477K |
| Franchise fee | $25K | $40K | $40K |
| US locations | 6 | 8 | 21 |
| Shares earnings figures | No | 19 of 56 | 2,147 of 3,352 |
Typical is the median across the 56 brands in bubble tea franchises; typical franchise, across every brand here.
Locations opened and closed
| Year | Franchised | Company-owned | Opened | Closed |
|---|---|---|---|---|
| 2022 | 1 (0) | 3 | – | – |
| 2023 | 1 (0) | 3 | 0 | 0 |
| 2024 | 2 (+1) | 4 | +1 | 0 |
| 2025 | 2 (0) | 4 | 0 | 0 |
Closed or left counts terminations, non-renewals, locations bought back by the franchisor and locations that stopped operating.
See which brands grew most in the fastest-growing franchises rankings.
More in the guides: franchise failure rates.
Over 4 years, from the start of 2022 to the end of 2025, franchised locations went from 1 to 2 (+1, +100%). The earlier years come from the brand's 2025 filing.
Source: Formosa United Inc, 2026 filing, page 41
2022: Formosa United Inc, 2025 filing, page 41
Where Anda Boba Tea locations are
At the end of 2025, Anda Boba Tea had locations in 1 state. The most are in New York.
- New York6
| State | Franchised | Company-owned | Total |
|---|---|---|---|
| New York | 2 | 4 | 6 |
Source: Formosa United Inc, 2026 filing, page 41
Who owns Anda Boba Tea?
Anda Boba Tea franchises are sold by Formosa United Inc. Its filing names no parent company.
From Formosa United Inc’s 2026 filing, page 6.
Lawsuits and bankruptcy
| Lawsuits and regulatory actions | Yes. The filing describes past or pending cases involving the franchisor, its affiliates or its executives on pages 8–9. |
|---|---|
| Bankruptcy | None. The filing says no bankruptcy has to be disclosed. |
Franchisors must disclose lawsuits and bankruptcies involving the company, its parents and affiliates, and its executives. Many cases are routine disputes with franchisees over fees or contracts; read the descriptions in the filing and ask current owners about anything that worries you.
Source: Formosa United Inc, 2026 filing, litigation on pages 8–9, bankruptcy on page 9
Anda Boba Tea filings
A franchisor files a new disclosure each year it sells franchises. The figures on this page come from Formosa United Inc’s 2026 filing, issued February 28, 2026; the earlier ones below are on record with the NASAA Electronic Filing Depository and fill in older location counts.
| Filing | Issued | Registry | On this page |
|---|---|---|---|
| 2026 filing | February 28, 2026 | NASAA depository | Costs, fees and locations, 2023–2025 |
| 2025 filing | March 10, 2025 | NASAA depository | Locations, 2022 |
Each link opens the filing as a PDF. See the newest filings across all brands.
Other bubble tea franchises
All bubble tea franchises
Anda Boba Tea is also on these lists: food franchises.