Matthieu David interviews Carol Liu, who managed up to 5 coffee shops she co-created with her husband. Liu's Coffee chain 'Big Sur' is serving 500 coffee cups a day and emphasizes high quality, using top-notch coffee machines and bean-grinding machinery from Italy. Liu explains why she closed 2 shops and focused and deep-dived on 3. Liu goes in-depth on her experience as an entrepreneur in China: how much was the initial investment, how much in commissions do third-party delivery services like meituan, dada or eleme take, and how it is dependent on the weather, and how not having the right business license slowed her shop growth down? Liu also assesses the success of Luckin Coffee and other players in the game.======================================================This podcast is sponsored by daxue consulting, a strategic research firm that answers complex business questions on the Chinese market with traditional and tech tools. Since 2012, daxue has served more than 250 clients and completed more than 300 projects. ======================================================Daxue Consulting is a market research and management consulting firm focusing on the Chinese market. We are leveraging a multiple-methodology approach in order to support clients’ needs, auctioning traditional methodologies as well as technology-driven tools. Read more on: http://daxueconsulting.com/blog/