Food Franchising: A Growing Trend
Today, owning a franchise-based restaurant or food business in India is an excellent choice. Lately there has been a sharp increase in the number of food franchises in India, as more companies from the US and Europe look for enthusiastic franchise partners in this country to fuel their growth in new markets. Let us look at some trends and highlights.
Pioneers still do Well
There are many popular quick service restaurant (QSR) brands that opened their first stores in India in the mid-1990s and the early 2000s. Though they have a huge competition from new entrants, these brands continue to do well across different parts of the country.
Brands like Challenges
Even though food joints can find it a little tricky to come up with experimental dishes that suites the Indian tastes, they have always been ready to rise to the challenge. They bite the bullet and customise their branding, tweak their offerings and give their menus a new makeover to keep ahead of competition and establish their base in India.
More QSRs coming in
The year 2015 saw the entry of a lot of overseas fast food brands, like Burger King etc, into India, some planning to expand across the country and open 100 outlets in the next few years. Research suggests that the fast food market in India is likely to hit the $27.5 billion mark in the next five years. So you can expect to see more companies setting up shop in India in a few years’ time.