Taiwan’s Ministry of Economic Affairs’ Bureau of Foreign Trade has teamed up with Taiwan Trade Center in New York and 10 Taiwanese chain brands to participate in the largest franchise exhibition in the United States – the “New York International Franchise Expo” held at the Javits Convention Center. The event aims to help Taiwanese chain industries expand into the American market, leveraging the strong consumer power of the United States and New York City’s unique position as an international trade hub.
The exhibition, lasting for 3 days from Thursday, May 30th to Saturday, June 1st, features the “Taiwan Chain Brand Pavilion,” showcasing 10 Taiwanese chain enterprises. Among the participating franchise brands are popular names such as Coco, Mr. Sun, Thick Old Master, Presotea, Taiwan Boba Tea, Aboutea, Ching Yuan, Mr. Wish, Marutang Food, and KD. In addition to seeking agents in the New York area, exhibitors are also exploring opportunities in the East Coast of the United States and international markets through this platform.
Prior to the exhibition, on May 29th, the Taiwan Trade Center in New York invited the 10 exhibitors to their Manhattan office to introduce their brand concepts to the media. Vice President of the New York Taiwan Chamber of Commerce, Chang Yu-Cheng, shared insights on doing business in the United States. Lisa Lou, President of the World Chinese Business Women’s Association New Jersey Chapter, and former President of the New York Taiwan Youth Chamber of Commerce, Wang Jiankai, also attended the meeting to exchange ideas.
During his speech titled “Success in New York Means Success Everywhere,” Vice President Chang Yu-Cheng emphasized that if your product or service can survive in New York, it can succeed anywhere in the world.
The Director of the Taiwan Trade Center in New York, Cai Xiu-Zhen, mentioned that New York City attracts immigrants from all over the world, making it a true melting pot of cultures with a high acceptance of foreign cuisines. The international metropolis welcomed approximately 60 million tourists last year. Lai Chien-Jung, the Manager of the Taiwan Trade Center in New York, shared an overview of the franchise market in the United States. She noted that New Yorkers have high purchasing power and are willing to spend, with an average price of $6 to $9 per cup of bubble tea in New York City after taxes. The US bubble tea market was valued at approximately $950 million last year, expected to grow to $1.01 billion in 2024.