Once a brand that had its moment in the sun, the high-end ones started playing with price cuts, while mid-range ones began to fold in franchise fees, sparking a franchise fee price war.
Panda Tea, after losing its past glory, began to introduce franchise fee waivers.
For new partners opening stores, the total discount on fees could range terrifyingly between 40,000 to 270,000 yuan.
For old partners opening new stores, the total discount could also be between 90,000 to 180,000 yuan.
The later stages of the 2.0 era of milk tea witnessed frantic internal competition and price wars, and so did the 3.0 era.
However, when Shen Minglang heard Cheng Zhu casually mention "An IPO is not impossible," he immediately became invigorated from top to bottom.
He had already started yearning to become a shareholder of a listed company.
"No, I have to call Shen right now!" Shen Minglang began to grow anxious inside.
