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When baking, follow directions; when cooking, go by your own taste and when planning to invest in food business, take a franchise! An investor will find opportunities galore, starting from Rs 50, 000, in this special issue dedicated to the F&B sector. Bec
The current market of the Indian restaurant industry has scaled up to Rs 75,000 crore and is forecasted to reach the mark of Rs 1,37,000 crore in the year 2015, reporting a CAGR of 17 per cent. The current market is dominated by unorganised players which consist of 70 per cent of the total market. However, the organised market is, in fact, expected to grow faster (20 to 25 per cent per annum). What's making this market a lucrative one? According to a survey conducted by Franchise India, the raison d'être for a booming F&B industry is increasing number of international food service brands in the country and conversion of unorganised players into organised ones. Further, the growth of the industry is driven by Indian youth who are very much inclined to fast food and casual dine.
According to Smita Jatia, MD, West and South India Operations, Mc Donalds: “The overall scenario of the F&B market has evolved over the few years. There was a time when a handful of brands were available in the market to eat out. But today, the customers have options to choose from. We have witnessed immense activities in the F&B services industry in the last five years, including exciting new concepts, food and beverage offerings and new and innovative service elements.”
Gone are the days when weekends were considered to be the eating out days. With changing times, increase in disposable incomes, changing eating out trends and to top it all, availability of thousands of organised F&B players on a platter have also made all weekdays as eating out days and F&B business as an apt business opportunity to invest in. The organised restaurant industry is close to 30 per cent of the total market size, and the rest 70 per cent is unorganised. This showcases an opportunity galore in the organised sector.
The increase in appetite for outside food and a swift jump in the number of double-income families are helping QSRs, casual dining and fine dining to augment their numbers not just in metros but tier II and III cities too.
As per a recent survey report by Franchise India, QSRs top the chart as people in India spend maximum at QSRs. These QSRs offer an international taste with moderate prices which matches the Indian budget of eating out; therefore, 24 per cent of the people prefer to eat out at QSRs. After that, casual dining is preferred by 17 per cent people. A decent ambiance and lower prices are the major reasons for eating out at casual dining formats. Further, family-oriented restaurants and eating joints are the major type casual dines which are preferred by Indians. Fine dining is the third most preferred format for Indians. About 17 per cent of Indians prefer to have a meal in a fine dine format, especially dinner. This format provides not only good food and ambiance but also high quality service.
27 year old Rishi Aggarwal hesitated to invest in a restaurant franchise and preferred taking some other franchise because of being part of strenuous business formalities of the F&B ecosystem. Unlike other sectors, F&B business needs more involvement and is strenuous because the success of the restaurant industry is dependent on the smooth functioning of a number of supporters like food processing industry, supply chain organisations, human resource, technology and marketing. The significance of all these backend supporters varies as per the segments of the restaurant industry. Absence of any one of them can lead to losses. Therefore, a restaurateur has to be cautious all the time and must be ready to give 100 per cent to his work to make his venture successful. All these sectors are dependent on each other and the restaurant industry becomes handicapped even if there is a one missing link. So if you are a potential franchisee, make sure you are in the cycle of the above mentioned sectors, else you will be like a bird without wings. But if you do your home work well and are all set to be part of this arduous industry, the platter of profits is yours as the returns in this industry are comparatively quite high. The supporting sectors of F&B industry are Food processing industry, Supply chain organisations, Human resource, Technology and Marketing. So, think before you invest in a F&B franchise.
The franchise business platter of food & beverage sector is buzzing with unique and lucrative concepts. As India is a diverse country so are the opportunities across the F&B sector. A potential franchisee seeking franchise in this industry can pick and choose a category as per his taste. The organised F&B industry encompasses categories like Café Chains, Pizza Outlets, Sports Bar and Lounges, Ice Cream Parlours, Fine Dine and Casual Dine Restaurants, Restaurants offering special cuisines like Muglai, Chinese Italian Etc, Bakeries, Carts, Kiosks, Chocolate Stores, Juice Lounges, Indo-Fusion Cuisine Outlets, Vending Machine Operators and many more to choose from.
Key trends of different formats in restaurant industry
Fine Dine Industry
QSRs / casual dines