Why The F&B Industry India is Way Ahead of People's Expectation
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The food industry is a combination of many diverse businesses and it is responsible for feeding the world population. Every year, we are hit with different food-trends that change the way we eat; it's vague enough that people are eating bubble waffles, chocolate momos and tandoori pancakes. Now we also have restaurants trying fusion cuisines, everything that makes them different from other restaurants in the industry and also attract customers, only through the vagueness of the menu they have curated.
When asked about the Indian restaurant scenario, Tiwana said,” They are ahead of many people’s expectation. Food Innovation and the design are pretty advanced in India. With all the different taste and the cultures of India, the explosion of food is remarkable in the country.”
What’s Cooking Up a Storm?
Indian food industry is poised for colossal brand growth and swelling its contribution to world food trade each year. The food segment in India has appeared as profitable and growth sector due to its considerable potential for value addition.
Tiwana said,” For us, it is rather important to understand the culture, food habits and the changing taste of the Indian customers. There is a lot of western influence in India, but the innovation in Indian Brands itself is learning for the rest of the world.”
The Key Essentials
To be in the Franchising business, you have to make sure you have the right partner, someone who really understands the Indian market”, said Tiwana who has just launched Millies Cookies in India, in partnership with WORLD ICONIC Brands (WIB) and Franchise India.
Stretching further, Tiwana said,” A great management team, who really understands the opportunities in terms of locations and is going to be behind the brand passionately, incurring huge profit, can be our partners in this business.”
How to scale this business to make it more profitable and also a sustainable one?
The food is the key but the dining experience has to be taken care of. You have to make sure that you understand customer’s requirement, how to deliver a great service. Talking of design, Tiwana said,” It is a crucial element that can be an eye catcher for the customers and they might just end up revisiting your restaurant.
The Perks of Franchising
Launching a new brand and then working to establish them could take much longer, but some Indian food chains like Subway and McDonald's have already taken the plunge. Also, starting and running a restaurant needs a lot of money.
Commenting on the same, Tiwana said,” There is a huge opportunity in the Indian market for franchising and currently we have just launched Millies Cookies, an iconic British brand, owned by SSP Group, a £2bn turnover business listed on the London Stock Exchange. We are already open with 2 brands in India, planning to extend our business through the franchising route.”
A franchise maybe at the top of the food chain, but starting one’s own chain of restaurant is a dream that many harbour. For someone who’s just entering the business, it’s a great idea to start with a reputed franchise, just to get an idea of how to work in the business.
This article was originally published on Franchise India by Reetika Bose.