In a tete-a-tete with Restaurant India, Vibhor Nuwal, Owner at Funduz shares what opportunities they are seeking from the franchisee.
Funduz is the brainchild of Vibhor Nuwal, an entrepreneur and a food enthusiast who came with the idea of infusing contemporary flavors to Mumbaiya VadaPav and present choices including traditional to modern varieties for the humble VadaPav creating its national and global markets.
Funduz was started with the thought of making the ethnic Indian food into a standardized hygienic snack delectable in taste. The idea was to take this regional food all over the country maintaining its yummy taste and creating variety and this was like most successful fast food chains across the world that have innovated and invested in technology around a single product.
Tell us how this idea was born? What are the products ranges of Funduz?
We are brand called Funduz and our product range is burgers, vada pav, raps, sandwiches, instants, shakes, mocktails etc. Before starting this venture I was looking at the operations at an MNC as a CEO for 17 years and then thought to go into food business as I have always been a food enthusiast.
We have a production unit at Mumbai where we tied up with countries best food supply chains.
What is your expansion Plans?
Our expansion plan is to open 100 outlets by the end of next year. We are presently at Andhra, Karnataka, Maharashtra, Gujarat, Orissa, MP, Rajasthan and Chhattisgarh.
How do you do your pricing?
We are very competitive in terms of pricing as our range starts from Rs 25-100 which is easily affordable. It even includes the taxes which are there.
How is your designing done?
We have our designer team from UK. They have design our outlet in a very nice way depicting all the angles what our outlet is all about.
How is your footfall?
The footfall is really good as many companies depend only on one product.
Which product is more revenue generating?
The products which are costly are more revenue generating. We make good profit in terms of noddles, vada pav. The franchisee makes a good profit for example like mocktails 50 per cent, shakes 55 per cent and instant foods 60 percent.
How do you see your competitors in the market?
We have certain competition in the market because of the date of birth they are today the market leaders. But, today we have far better products than anybody else and also provide better margins to the franchise. We have low cost products, so we are far better than others.
What opportunities you are seeking from the franchisee?
We want to enter 18 states by the end of next year. So, we will love to have franchisee based in any new city and enter in that state.