Odd One Out
An independent boba shop by UCLA that grosses $924,000 a year from a plaza with almost no passing foot traffic.
12 figures on Odd One Out, drawn from 3 Modern MBA case studies.
The figures
US dollars9
| Against its own chart | |||
|---|---|---|---|
| Annual revenue against total operating costs · Revenue | $924,000 | 4th of 7 · top $1,950,000 | How much a haunted house actually makes |
| Annual revenue | $924,000 | 2nd of 4 · top $1,080,000 | Why bubble tea is so profitable |
| Average annual revenue per store | $924,000 | 2nd of 6 · top $1,080,000 | Why bubble tea is so profitable |
| Average customer spend, against other concepts covered on this channel | $14 | 3rd of 9 · top $550 | Why nobody wants to own ice cream anymore |
| Average spend per order | $14 | 3rd of 8 · top $15 | Why bubble tea is so profitable |
| Cheapest and most expensive drink on each menu, 2024 · Most expensive drink | $8.50 | 1st of 3 · top $8.50 | Why bubble tea is so profitable |
| Average price of a drink at bubble tea shops on Sawtelle, 2024 | $6.41 | 3rd of 6 · top $7.28 | Why bubble tea is so profitable |
| Cheapest and most expensive drink on each menu, 2024 · Cheapest drink | $4.50 | 2nd of 3 · top $5.25 | Why bubble tea is so profitable |
| Annual revenue against total operating costs · Operating costs | −$600,000 | 5th of 7 · worst −$1,482,000 | How much a haunted house actually makes |
Percentages2
| Against its own chart | |||
|---|---|---|---|
| Annual operating margin against big brands and other independent concepts covered on this channel | 35% | 2nd of 11 · top 40% | Why nobody wants to own ice cream anymore |
| Store-level operating margin | 35% | 2nd of 8 · top 40% | Why bubble tea is so profitable |
Counts1
| Against its own chart | |||
|---|---|---|---|
| Number of drinks on the menu, 2024 | 29 | 6th of 7 · top 120 | Why bubble tea is so profitable |
Case studies covering Odd One Out
Case study — Media & entertainmentHow much a haunted house actually makesA haunted house has six weekends a year to make its money back. The good ones out-earn Disney Parks on margin.12 min read
Case study — Food & beverageWhy nobody wants to own ice cream anymoreUnilever, Nestlé, and Kroger all owned the biggest brands in ice cream. All three decided it wasn't worth keeping.16 min read
Case study — Food & beverageWhy bubble tea is so profitableA Sawtelle boba shop grosses $1.08M at a 30% store margin on $9 orders. The moat is the supply chain, not the brand.11 min readNew episodes
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