As the brand Keventers revives itself, they find franchising as a perfect business model to reach their target consumers, setting inspiration for the upcoming entrepreneurs.
Reviving the childhood memories of having blended in the kitchen of our homes, the trend of milkshakes is taking the world by storm yet again. Milkshakes are the sweetest delights that most people with the sweet tooth love to sip in the burning summers. These days, milkshakes are marking their presence in every restaurant, bars, and even specialized milkshake bars are rapidly increasing.
Keventers, a legacy Indian milkshake brand, has reinvented itself to cater to the new-age customers who seek different flavors of their favorite drink of all-time. As the brand revives itself, they find franchising as a perfect business model to reach their target consumers, setting inspiration for the upcoming entrepreneurs. A lot of milkshake franchises are emerging and are earning greater profits in the milkshake business. Milkshake franchises have become a lucrative investment opportunity for many.
Reasonable Investment Opportunities in Franchises
Milkshake franchises are known to be one of the low-cost franchise opportunities in the F&B industry. Keventers, the top brand in the Indian milkshake industry, offers franchise opportunities in just Rs 20-30 lakhs for an area of 100-150 sq ft and one can expect a breakeven within 1.5-2 years. While other small brands such as Cream Shakes, which serves various categories of flavors such as fruit shakes, chocos and cookies, special shakes, healthy shakes, wholesome shakes, etc, provides franchises in three models: standalone unit that requires an investment of Rs 17.5 lakhs for 300 sq ft, multi-unit that requires Rs 85 lakhs, and master franchise for Rs 38 lakhs for unspecified area.
Betting Big on Milkshake Market
Statistically speaking, the Indian milkshake market is expected to grow at a CAGR of 25% during 2019-2024. According to sources, milkshakes have gained popularity in India in the last two-three years and the high demand comes from locations where families reside, completely contrary to the notion that students or younger crowd consume such products. This is because spending 100-150 bucks on milkshake is still a luxury for students as compared to double-income families.
Various malls and high-streets are also one of the preferable places to start a milkshake franchise. But, surprisingly, it is the residential pockets that generate large revenues. Many milkshake franchises also see tier II and III as promising locations to launch their franchised outlets. This is because of various reasons such as improved spending powers of customers in tier-II cities, lesser real estate and employee costs, and lesser competition from similar businesses. These locations ensure a higher rate of success and a faster return on investment.
There are numerous reasons why the milkshake market is witnessing a splendid growth. One of the biggest reasons for the growth is a significant boom in the purchasing power of consumers. With more money in hand, consumers are willing to spend on their favorite food and beverages. Apart from the increasing income levels, the increasing urbanization and desk-bound lifestyles, the QSR chains that serve milkshakes are witnessing growth as it gives the convenience of ordering refreshing drinks like milkshakes at their desks. The demand is also witnessing a growth because of the increasing health consciousness of people who used to rely on aerated drinks to chill-out in summers.
With a legacy of more than two centuries, the milkshake is still among the top popular desserts of all time even in the new era. As the concept of milkshake shops and franchising blend together, entrepreneurs are paving their way to success.