Why Fast food is the Most-coveted Food Franchise?
Throughout the previous 70 years the fast food industry has been the most unmistakable and mainstream sustenance industry on the planet. It speaks of items that are loved by all, and have been endorsed by people all over the world. Getting into the food business is great but if you have someone with a family-business background that’s willing to help you, you’re in for some good times ahead. Urban Indians eat out at least thrice a week spending upto Rs 10,000 according to a study. The same study proposed that Indians love to eat at QSRs (37%), Casual dining places (30%), Cafes (16%), Desserts & ice cream bars (11%), and Pubs & bars (5%).
Where should I invest?
While it can cost upwards of two million rupees to place assets into surely understood foundations, tinier, rapidly expanding family-held associations can offer to cut down start-up costs and limitless potential for improvement.
Discovering more about the various types of establishments out there can enable you to make a sound decision.
Quick-service restaurants (QSRs) are the most favored establishments, trailed by easygoing eating eateries with regards to eating out, as indicated by the India Food Services report, brought out by the National Restaurants Association of India (NRAI) and counseling firm Technopak Advisors Pvt. Ltd. The most preferred time for Indians to eat out is between 7.30pm and 10pm, the study found.
People Love to Eat
People really do love to eat. That is another reason behind why fast food establishment openings are so prevalent. Individuals figure they can’t lose on the off chance that they purchase a fast food establishment.
Sometimes customers need a quick meal. Therefore if they find an eatery that whips up food quickly, they will flock to it. And there are fast food joints that cater to such customers. However, there are some customers who need healthy meals, and will search a location to find that kind of a meal. If you do opt for a food franchise, you have all of these options to play with.
Owning and Operating a Food Franchise
While it looks good to be your own boss, operating a food franchise comes with its own challenges.
· Long hours
· High employee turnover
· Expensive real estate
· Fluctuating food costs and taxes
Fast food franchises are usually open for longer hours because of the demand for such food. Patrons enter the outlet at any time, meaning you have to employ staff that are willing to work the graveyard shift if needed. You may have to clock in up to 14 hours a day for a long time, but since it’s your own business, you wouldn’t mind the pressure.
Raking in the moolah
Fast food outlets may have a lot on their plate, but when revenues come pouring in, it gives reasons to smile. According to Cyber Media Research (CMR), QSRs are likely to touch $4.1 billion in India by 2020. Depending on your franchise model, you can rake in anywhere between 20-50% profit after you break even, which usually happens after 16 months. If you invest in a joint that’s in a busy location, you might break even faster. But it all depends on the food costing, location scouting, rent for your premises, etc.
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