It is also believed that 95 per cent of franchised outlets are doing well today as compared to company owned restaurants.
Franchising your restaurant may be a good way to grow fast. Globally it is witnessed that more than 90 per cent of the restaurants are franchise. Brands like McDonald’s, KFC, Pizza Hut and Burger King amongst others who have tailored a nice growth is running on franchising. Industry results and data show that franchising makes one learn the key aspect of driving and making the restaurant a profitable business. 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 the last one year Indian food business has seen many new trends hitting up the sector. Restaurant India has found these few sectors to invest your franchisee business.
Fast casual is the new wave: It’s more than just having your food today. Restaurants which can actually address the basic requirement of a customer is major hit. Restaurants like Au Bon Pain, Chilli’s which give customers an option to look inside the kitchen and see what’s happening with their food is a major hit. The segment is the middle man between fast food and the casual dining. Fast casual restaurants cater to high quality ingredients and fresh food focusing on cheap price and quick service. And, since, there is an increased awareness about food nutrition more and more customers will prefer these restaurants over other restaurants.
QSR will not stop to grow: Domino’s and McDonald’s is one of the biggest examples of a QSR franchise. Sitting at 1500 plus odd numbers these QSRs are still hungry for more and so is their customers. In India it is still believed that franchising is the most attractive and trusted model when an international brand enters the country. Same goes with Indian QSRs like Goli Vada Pav which has opened 500 plus outlets in the country. Hence, there is so much opportunity for quick service brands to open more outlets as QSR industry is growing at an annual compounded rate of 22 per cent to reach market size of Rs 24,665 crores by 2021.
Build your own: Customisation is an important part in restaurant business. Concepts like DIY (Do It Yourself) and build your own are doing good business in India as it gives a customers to choose from his liking and do things their way. Players like Barbeque Nation, Pirates of Grill, Subway is building good catchment on customer orders to their exact specifications by serving the food they want it to be. If you want to keep your customers happy, you will need to find more 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.
Popularising on Social media: Social media has become an important tool in promoting your brand. People today are way out of traditional advertising they look for content on networking sites. Also, instead of grabbing content they are much more responsive on video content. In 2017, franchises should make digital advertising a bigger part of their advertising budget with a special focus on posting videos from their kitchen, menu preparation and serving food.
Casual dining is making big numbers: It is all the ball game. Casual dining catches millennial and hence it is the biggest noise maker. With a varied option to choose from the segment offers a light environment and value for money meals. Also, these days’ people are more into drinking than eating and this is the biggest footfall gainer in the casual dining restaurant.
Trading on experience: It’s all about experience. People go to a restaurant for an experience- dining, service and food. If your restaurant is doing out of the box menu, service and ambience it will surely attract customers. Franchises need to think out of the box when it comes catering 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 out to enter franchising as business you should think more in terms of selling experiences than in selling products and services