Business Categories
Jun, 03 2017

HUNGRY FOR MORE!

How franchising is helping in learning the key aspect of driving and making the restaurant profitable.

Franchising your restaurant can be a good way to grow fast! Globally, it has been witnessing that more than 90 per cent of restaurants are expanding via franchise. Brands like McDonald’s, KFC, Pizza Hut and Burger King, amongst others, who have tailored a robust growth, is running on franchising. The industry results and datas show that franchising helps in learning the key aspect of driving and making the restaurant profitable. It is a great way to understand the business from scratch. It is also believed that 95 per cent of franchised outlets are doing well today as compared to company-owned restaurants. In past one year, the Indian food business has seen tremendous trends hitting up the sector. Here are the few trends that are catching up fast in the restaurant franchise businesses.

Fast Casual: This first trend is the new wave, which is gaining the ground fast. Restaurants that can address the basic requirement of customers are a major hit. Restaurants like Au Bon Pain, Chilli’s are giving customers an option to look inside the kitchen and see what’s happening with their food. Fast casual restaurants cater to high quality ingredients and fresh food focusing on cheap price and quick service. Since there is an increasing awareness about the food nutrition, more customers are preferring these restaurants over the others.

Quick Service Restaurant (QSR): This category will not stop to grow. Domino’s and McDonald’s are the biggest examples of QSR franchising. Sitting at the 1,500-plus odd numbers, these QSRs are grabbing a big bite and so are their customers. In India, it’s believed that franchising is the most trusted and attractive model, especially with the international brands. Same is the case with the Indian QSRs like Goli Vada Pav that has opened 500-plus outlets. According to a recent report, the QSR industry is growing at a CAGR of 22 per cent to reach the market size of Rs 24,665 crore by 2021.

Build your own: Customization is an important part in the restaurant business. Concepts like do it yourself and build your own are doing good businesses in India as the concepts are giving the customers a choice. Players like Barbeque Nation, Pirates of Grill, Subway are building good catchment on customer’s order to their exact specifications by serving the food they want to eat. If you want to keep your customers happy, you will have to find different ways to allow them to customize your products and services. More fast food franchises are allowing their customers to use a touch screen menu to choose everything from burger size, type of bun to the toppings.

Taking social media route: Today, social media has become an important tool in promoting one’s brand. People are way out of traditional advertising; they are looking for contents on the networking sites. Also instead of grabbing content, they are much responsive on video content. This year, franchises are making digital advertising a bigger part of their budget with a special focus on posting videos from their kitchen, menu preparation and serving food.

Casual Dining: It is gaining a big number in the restaurants industry. Casual dining catches millennial and hence it is the biggest noise maker. With a varied option to choose from the segment, it offers a light environment and value for money meals. Also these days, people are more into drinking than eating, and this trend is witnessing the biggest footfall in the casual dining restaurant.

Trading on Experience: This trend is all about experience. People go to restaurant for an experience-dining, service and food. If your restaurant is treating with out-of-the box menu, service and ambience then it will surely attract customers. Franchisees need such thinking to cater to the new age customers. They are less interested in accumulating expensive things and more interested in living life and having fun experiences. Hence, if you are looking to enter franchising as business you should think more in terms of selling experiences than in selling products and services. 

Comment
user
email
mobile
address
star
More Stories

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads