Why Investing in Theme-Based Restaurant Could be Profitable for Franchisors
The popularity of theme-based restaurants is skyrocketing in recent years because of the parallel growth of the market
With rising disposable income, Indians are willing to spend more in a restaurant for an experience along with the food. The millennials are opting to eat out more often, which has opened the door for restaurant franchisors to make money. Offering them limited cuisine and experience is no longer an option, as their demand is constantly evolving.
Vineet Mitta, Owner, Raftaar lounge says, “The industry is changing very rapidly. With the international and national brands competing with each other in the same market, innovations and experiments can be seen at a regular basis. The expectation of customer is changing with time and we have to respond to their changes.”
Featuring a period appropriate menu, theme-based restaurants offers a completely new experience for the customers. Franchisors should focus on designing the interiors complimentary to the menu, which would work as a USP for their brand.
You could also name your cuisines and beverages, accordingly, creating curiosity and interest among the people. But avoid complicating things as it can harm your business.
Franchising fosters growth
According to a Technopak report, as far as QSR and café culture is concerned, NCR alone has 408 franchise brands, western India has 386 brands with the majority concentrated in Mumbai.
Franchising can provide you with uniform economic growth as the demand for theme based restaurants are increasing. The F&B industry is very dynamic, providing a numerous number of opportunities to the investors for making a profit.
The major benefit of running a theme based restaurant franchise is the potential for higher profits in a relatively short period of time.
With these profits, the franchisor gets a chance to create their own brand name by introducing a unique theme to the restaurant. This creativity will help you expand on a regional and national basis, allowing you to innovate more with the theme.
The article was originally published on Franchise India by Shahram Warsi.