In conversation with Franchise India, Amit Nigam, Founder & MD, Cinste Ventures, talked about his brand journey and expansion plans
Cinste Ventures, an umbrella company for four brands, namely, Tandoori, Fresho, Panwaadi and Street Mart. The basic ideology behind CinsteVentures is that they either start their own brands or acquire new brands, which have 4-5 outlets and then further expand its pan India.
In conversation with Franchise India, Amit Nigam, Founder & MD, Cinste Ventures, talked about his brand journey and expansion plans.
How it all Began
The journey of Cinste Venture started with a single outlet of Panwadi. The brand wanted to expand its offerings and decided to start franchising and collaborated with Franchise India. After receiving a tremendous response, Nigamthought of establishing other brands which were there in his mind.
However, they lacked a proper expansion plan. So, the brand got into the franchise model for expansion and has now grown into 25 outlets pan India.
Standing out from the Crowd
Our brand Fresho was started with the notion of serving quality and affordable food. We had our office in an industrial area, where there was no proper food joint. Working class people were eating from roadside carts, where the food was prepared in unhygienic conditions with cheap, unhealthy oil.
So, that’s how the Fresho was conceptualised in order to provide good food in a hygienic environment at almost the same price. The products in our menu range around INR 50-60.
And, that’s how we differentiate ourselves from the competition. We provide quality food at the price of food available at roadside carts.
Similarly, in the case of our brand Tandoori, there isn’t any organized chain, which offers you good tandoori food. You have KFC for fried chicken and you have McDonald's, Burger King for burgers; but there is no proper chain for tandoori products, barring a few outlets. Our plan is to have around 100 outlets of Tandoori in the next 3 years.
Apart from this, the market is so huge that if you can execute things properly, there is scope for everyone. There isn’t any hard and fast rule that only 2-3 businesses will succeed; there is a chance for every brand.
The major challenge we have faced in during the initial phase in terms of converting franchises.
The investment required for Tandoori, Panwaadi and Fresho, ranges up to 20 lakhs. All our brands work in the FOCO model, i.e. Franchise Owned Company Operated. So, all the operations, day-to-day management, hiring staff, training etc, everything is taken care of by the brand itself.
So, the investor just has to invest money according to the area requirement.
Area Required: 250-300 sq. ft.
Investment: 19 lakhs
Area Required: 400 sq. ft.
Investment: 20 lakhs
Area Required: 700 sq. ft.
Investment: 20 lakhs
In the grocery segment, for a supermarket franchise, you will require an area of 500 sq. ft. and 2000 sq. ft.
The investment for a 500 sq. ft. the area is INR 25 lakhs and for 2000 sq. ft. the investment is around INR 50 lakhs.
Future Expansion Plans
The company is planning to expand its wings to 15 cities and will be opening 50-60 outlets of all the brands under Cinste Ventures by next year.
The brand is also planning to open at least 100 outlets for all the brands in the next 2 years.