This ain't your granny's tea shop. 

A hot trend (literally), a young founder and a desire to make tea the drink of choice for the fun and fashionable.  We sipped a spot of tea with David Segal, the founder of DAVIDsTEA, at their first location (Toronto's Queen St. W!) to find out the story behind this hopeful new chain and to get a few tips for budding entrepreneurs.

ChickAdvisor:
What inspired you to start your own Tea business?

David:
I always liked tea.  I drank basic teas (Earl Grey, Peppermint) and I had a friend's mother who had started a little tea shop and I couldn't believe how many different flavours and tastes of tea there were.  It blew my mind.  I had been working at a private equity firm and my job was to find companies to invest in and I have always been entrepreneurial.  I said, "Tea is going to be big. Noone is making tea fun yet.  It should be fun, easy and fashionable and on the main streets of the country not tucked away like your Grandmother's tea shop.  You shouldn't feel like you have to whisper.  It also shouldn't be limited to any one culture.  It's North American, it's new and it's fun.

ChickAdvisor:
How many varieties of tea do you have and how many of them have you tried?

David:
I personally choose all of the teas and I have tried them all.  We currently have about  130-140.  We'll eventually have a permanent collection of 80-100 and then a variety of seasonal teas so there is something new and fresh every time you come to the store. 

ChickAdvisor:
Where does most of your tea come from?

David:
All over the world.  China, Japan, Kenya, South Africa, Egypt, South America...  There is tea and then there are infusions. We sell both.  Both come from all over the world.


ChickAdvisor:
Which kind of tea is the healthiest?

David:
It is tough to say which is the healthiest. They all come from the same plant. Green tea has a lot of studies in it regarding anti oxidants but white tea is very similar. It depends from tea to tea depending on the grower and the region.  White tea is the creme de la creme of tea and it's also very good for your skin.  I would predict you'll start to see that in skincare products similar to how green tea has been used.  Rooibos is also quite good for your skin. They have been using it in Africa for years in soap.


ChickAdvisor:
How many locations are you planning on opening?

David:
Toronto is our first and this winter we'll be adding several new locations in Toronto, Montreal and other cities.  We plan to make this an international brand.  We'd like to franchise it. It's a great business, very simple and a lot of fun for someone who'd like to escape the rat race of the corporate world.

ChickAdvisor:
What's your best advice for someone who wants to start their own business?

David:
I would say two things.  1. Be prepared for success.  A lot of entrepreneurs are not ready. When things succeed they go fast and you have to be ready for that  because if you're not you'll beat your head against the wall.  Be prepared for it to work.  A lot of the time we go into it thinking it's not going to work and  then when it does work, often it can happen very quickly. It's easier to quit and pack up shop.  Be ready for it to work.

2. Spend a lot more time doing and a lot less time talking.  Prove the market, test the concept... your time is valuable too.  Don't spend too much time on a business plan talking about it.  Not that you shouldn't have a plan but that's not where you should spend most of your time. Just do it. And test it.  And if it works you'll know really quickly if there is a future for you in it or not.

ChickAdvisor:
So which is more fun?  Private equity or Tea?
David:
This is way more fun.  There's no question.  I'm a hands on person. I like being behind the counter and making sales.  I love hearing people walk out the door and go,"I love this store". There's no greater feeling.

www.davidstea.com

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