In the last few years food business has become one of the most loved interests of both investors and food business operators. Let's explore the opportunities in Indian food biz.
In the last few years food business has become one of the most loved interests of both investors and food business operators. With more than 30 per cent of franchising happening in the restaurant business alone, it has become and exciting sectors to invest in.
The session on ‘The Food Revolution’ at the 14th International Franchise & Retail Show came alive with trending ideas and knowledge exchange by eminent panellists – Shikha Nath, Brand Director, Copper Chimney, Sanjay Coutinho, CEO, Baskin Robins, Anurag Katriar, Executive Director & CEO, deGustibus Hospitality, Karan Tanna, Founder & CEO, Yelloe Tie Hospitality and Sharad Sachdeva, CEO, Lite Bite Foods.
Top biz to look out for
From just a mere eating out to a celebration, restaurant today has become the next go to place for every individual in the country. Newer cuisines and innovations are heating the food biz scenario with acceptability from people making future more profitable for these restaurant operators.
“Standalone restaurants with exciting presence and appearance and the newer cuisines are the future of restaurants in India,” shares Sharad Sachdeva, CEO, Lite Bite Foods. Today, people do not believe in going to a restaurant dressed in formal attire rather they look out for experiences that are casual, comfortable, affordable.
“High end fine dining is now gone, there is much more importance for value dining. Not only people in metro cities, but people in tier-II and tier II are eating out much more than they used to. People are more open to drinking and liquor is here to stay,” adds Anurag Katriar, CEO deGustibus Hospitality which was one of the few restaurants to set up the trend of Fine dining standalone restaurants in India.
Franchising is the key
As everyone believes that franchising is the fastest medium when it comes to expansion of the brand, there has been lots of opportunities in the segment. Not only local players who are ready to expand are looking for a franchise partner to spread its business but also brand who are entering India have joined hand with a local partner to spread their wings.
“Treat your franchisee as partner in your business and respect the franchisee and franchisor relations, it’s where you excel,” points Karan Tanna, CEO, Genuine Broaster Chicken which opened its first outlet in Mumbai few months back.
“We have 85 per cent of our franchisees profitable because of the support and backend that we have built in India,” comments Sanjay Coutinho, CEO, Baskin Robbins which has 672 franchised outlets in India with only one company owned outlet.
And, hence with lots of opportunity which are unfolding the food business scenario, we can see more and more exciting concepts heating up the restaurant space.