NEW DELHI, India – The lockdown due to the Covid-19 pandemic, social distancing norms, and the fear of the virus had negatively impacted the Food Franchise Industry. Food-home delivery business had recovered significantly. However, dine-in businesses were affected the most. The brands and the investors had suffered massive losses, and they had to keep their shops closed.
Also, aspiring business owners were having double thoughts and were unwilling to start a new business.
However, with the decrease of Covid 19 cases, the situation is getting back to normal, and people are going out to eat. This has led to a significant increase in the number of entrepreneurs looking to open new franchise businesses.
According to a report published by Franchisebyte.com (Leading Franchise Consultant Brand in India), the food and beverage franchise has seen 3X plusgrowth in the last 3 months compared to last year.
As per the Founder of FranchiseByte, Santosh Majumdar, some of the major business lines has outperformed all other. Look at some of the major developments in this Industry below.
Top-performing business lines in the food and beverage industry
- Chicken Franchise
- Waffle Franchise
- Tea & Coffee
- Cloud Kitchen
Chicken is accepted in most communities and is available throughout the country at reasonable costs. It is one of the most organized sectors in the animal husbandry business.
In the last 3 months of 2022, the franchise has seen significant growth of 5x compared to previous years’ growth.
The waffle franchise is rapidly becoming one of the most popular gourmet dessert items. Thanks to the high exposure of American television shows, waffles are gaining popularity in India.
The waffle franchise has taken the Indian DesertIndustry by storm and has become a niche.
According to reports, the waffle franchise has seen a growth of 4.5 X in the current year. This is much higher as compared to the previous year’s record.
Tea and Coffee Franchise
The franchise model is driving the tea and coffee brands, and in the process, it is creating newer opportunities for potential investors.
As per research reports, the Tea and Coffee franchise has seen significant growth of 4x as compared to 2021. The retail franchises are progressing well as compared to the traditional IndianDhabas. More tea and coffee lounges are expected to open in the upcoming months.
Cloud kitchens are cost-effectivestructures as it involves low investment. As the country is slowly coming out of the pandemic, customers will still be afraid to dine out.
Therefore,most of the customers will be ordering food via delivery apps. Cloud kitchens are expected to become a big business in India in the upcoming years.
The cloud kitchen franchise has seen significant growth of 5x compared to previous years’ JFM.
In the last 3 months of 2022, the bakery franchise has seen a significant rise at a CAGR of about 4X compared to the previous year.
This rapid growth has significantly created equal opportunities for both men and women. Bakery franchise offers an opportunity for people to show off their bakery and entrepreneurial skills.
According to the founder and owner of FranchiseByte, Santosh R Majumdar, the dark days are over. Now people will start to dine out and order food frequently. So, this is the perfect time to open a franchise with a popular food company.
However, an innovative idea to accelerate your overall growth would include a mix of franchise and growing strategies. This will help you to build up assets and improve the cash flow.