The founder of a boba chain said he opened stores next to Starbucks to get a fraction of its customers

""So my strategy was, I'm going to put a Gong Cha - the first five stores - next to Starbucks," Berry told CNBC. "And if I can get one in a hundred people who are going into Starbucks to come and try a Gong Cha, then I've got a business.""

"Berry said he and his wife pooled $2.5 million of their savings to open the first five Gong Cha franchise stores in South Korea, a venture he said was "quite terrifying.""

"Gong Cha was founded in Taiwan in 1996 by Wu Zhenhua, and Berry entered the business in 2011 to expand the brand to South Korea and other countries. As of January, the chain had about 2,200 stores in 33 countries, including the US and Canada."

Martin Berry and his wife invested $2.5 million to open five Gong Cha franchise stores in South Korea after Berry left his banking career. Berry placed the initial stores adjacent to Starbucks outlets to capture a small share of Starbucks foot traffic. Gong Cha originated in Taiwan in 1996 and expanded internationally under Berry's leadership beginning in 2011. The chain emphasizes fragrant, fruity teas and a milk foam topping. As of January, Gong Cha operated about 2,200 stores across 33 countries, including the United States and Canada. Bubble tea brands worldwide have seen rapid expansion and some public listings.

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