Brands like McDonald’s, Domino’s and Yum! brands have set a trend of successfully operating an international brand and penetrating it deeper in India.
Food service market in India has emerged from being home grown ventures to global partnerships, all thanks to the concept of franchising which has made the food businesses easy in India. With quick roll out and lucrative returns, franchising has become one of the most attractive operating models for brands looking to expand demographically.
With more than 30 per cent of franchising happening alone in the food service segment, brands like McDonald’s, Domino’s and Yum! brands have set a trend of successfully operating an international brand and penetrating it deeper in India.
Detailing: Whenever you are entering a franchise model, make sure that you have done your research well. No doubt franchising is the fastest medium to grow the brand, but minimal knowledge of things involved may land you into trouble. “A franchise should have an eye for detail as it is very important to know your brands in and out,” shares Sharad Sachdeva, CEO, Lite Bite Foods, which has grown a brand from both franchisee and franchisor angle.
Passion & Persistent: Food business is a 24*7 job and unless you are not ready to linger your time, don’t go for this business. It’s all about passion and love. No matter whether you are a foodie or you love cooking, you need to have passion to drive the business. “You should be passionate about the business as you are already borrowing someone else’s hard work to take it forward,” says Anurag Katriar, CEO, deGustibus Hospitality.
Relation Building: Franchising is just like marriage of two individuals. The relationship of a franchisee and franchisor is like a husband and wife. There should be absolute transparency between the two parties. “ One should always treat their franchisee as a partner in business and respect the franchisee and franchisor relations as both will drive the business together,” points Karan Tanna, CEO, Genuine Broaster Chicken.
Innovation is the key: Food business is all about introducing new things. Playing with flavours and bringing out the best on plate is what keeps driving the food business. “Innovation remains the core of the restaurant business. You need to introduce new flavours and menus every few months to bring back the customers,” adds, Sanjay Coutinho, CEO, Baskin & Robbins, which has 31 fixed flavours on its menu other than introducing flavours of the month.
Don’t marginalise too much: Everyone involved in the business will accept the fact that It is always good to reduce the food and labour cost. But one should never ever try to marginalise the cost when it is not necessary as it may ruin the brand.
Customer is the king: Your business is running and is successful because of the continuous customer support. Hence, you should always treat and pamper your customers without compromising on food quality, service and value for money pricing that makes them your regular customer.
Pic Courtesy: boyerlawfirm