“Our aim is to vend 3.5 crore to 80 crore cups per month” : Uday Srinivas

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“Serving quality tea at affordable price is our aim which led to a creation of 2,800 franchise network of Tea Time“ stated Mr. Uday Srinivas Tangella Founder & MD of Tea Time, the largest Tea chain in the world at the 37th WiseViews Leadership Conversations conducted on December 31, 2021  by ICFAI on every Friday at 7.30 pm. He delivered a talk on the topic “Formalizing Entrepreneurship over a cup of Tea”.

 Mr. Uday started his talk by explaining his journey as a student and his dilemma to start his own business. Initially he started a café to serve fresh fruit juices and it turned out to be a failure. Then he thought what is that which is common to every Indian. The answer was ‘Tea’. Mr. Uday stated that he did some research about the Tea market in India and the opportunity he found was staggering. There is a market of 3.5  lakh crore cups in this field and that excited him to start the Tea business. Mr. Uday started the first outlet of Tea Time at Rajahmundry  in Andhra Pradesh state and decided to build a franchise network in the country. “Franchise network brings a sense of ownership and the hygiene part is taken care of” added Mr. Uday.

“Tea is the second largest consuming beverage after water. The common man of our country deserves better tea at a hygiene environment at an affordable price is the philosophy behind the evolution of the Tea Time and we ensure that the quality is maintained across all the outlets” explained Mr. Uday. Further he also said “ Till 100 outlets, Tea Time did not had its own office and the focus on the quality clubbed with hygiene has led to the phenomenal growth over 2800 outlets at present in 14 states across the country.”  Mr Uday added.

“At Tea Time,  we strive to strike a connect with the common man and the interior design of the outlet is made to suit his walk in to the outlet. The price also is fixed at around Rs. 10 to pull the common man to Tea Time”, explained Mr. Uday. Mr. Uday termed the “Tea Time as the Café of the common man”. His aim is to vend from 3.5  crore  cups per month  to 80 crore cups  per month in future.

Answering to a query in the Q & A session, Mr. Uday said the Covid-19 situation has helped in the growth of Tea Time as people looked to consume tea at a hygiene place and Tea Time stood up to serve this purpose and it attracted more people to take up the franchise of the Tea Time. In future, snacks like samosa and biscuits can also be formalized believed Mr. Uday and he stated that very soon they are planning to venture into the snack business.

The conversation was moderated by Prof. R Prasad, Director – Academic Wing, ICFAI Group and Prof. Sudhakar Rao, Director – Branding, ICFAI Group.

About 250 participants including entrepreneurs, Research Scholars, working professionals from various parts of the country registered for this webinar which was also live streamed on facebook.

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