Chatime scores 4-star franchise rating
Chatime is the latest brand to be recognised as a high performing business by FRANdata’s Australian Franchise Rating Scale.
The bubble tea franchise, which has a network of 126 stores across the country, is the first system in its category to achieve this honour.
A high level of transparency and franchise performance delivered it a 4-star rating. The ratings are allocated after an independent and fact-based assessment across seven key categories.
FRANdata’s Australian CEO, Darryn McAuliffe, said “This strong rating reflects the ongoing achievements of Chatime Australia over a sustained period. Incoming franchisees continue to be well positioned for early success and a sound financial return is evident across the broader existing network.
“At a franchisor level, the system has proven resilient during the challenges of the current trading environment and continues to invest in enhanced reporting and compliance systems.”
Chatime Australia CEO Carlos Antonius was pleased with the rating but is already looking ahead at trumping this year’s achievement.
“At Chatime Group we are all committed in driving equitable outcomes for stakeholders, this achievement recognises this aspect and the integrity of our franchise system and our partners.
“Whilst we weren’t able to achieve the top gong of five stars this year, we are committed to honing in on the areas of opportunity with our broader network, and strive to achieve the ultimate five star award in a years’ time.
“Massive shout out to the team at FRANdata, our central support teams, key partners and franchisees on this wonderful achievement,” he said.
McAuliffe expects to see heightened interest in Chatime Australia from the lending community as the franchise system is making available comprehensive Bank Credit and Franchise Underwriting reports to lenders.
FRANdata Australia is Australia’s leading franchise business intelligence and information advisory business.
As Chatime looks to consolidate a premier spot in the busy bubble tea market, the brand is half way to meeting its growth target of another 29 stores this year.
The long term goal is a footprint of 250 outlets across Australia.