Needless to say, fast food industry is burgeoning, majority of US-based fast food chains have entered the Indian marketplace to serve consumers. There is still room for improvement that can be filled with something exciting and creative concept that gives amazing experience to people who are consistently visit restaurants to quench their hunger. One of the biggest problems faced by franchise seekers is sufficient capital, starting a new restaurant is an expensive endeavour and small pocket entrepreneurs can’t think to invest huge amount.
Key success factor
1. Vision and mission: In recent years, definition of fast food has changed a lot, for instance, customers become more health conscious and demand healthier snacks. A burger franchise outlet must be established with a clear cut mission and vision.
2. Operational excellence: In order to increase profitability and productivity, operational excellence is necessary to serve customers effectively. For example, you can streamline online ordering system, investment new recipes through research and development activities.
3. Food presentation: Today’s customer wants to taste different types of cuisines at reasonable rates, at same time fast food franchises must present food in a better way. You can customize menu as per customer needs to standout from your competitors.
4. Location: Majority of fast food restaurants which are running successfully has been established at high footfall location. Without a fantastic location, skilled staff members, delicious food and marketing will be useless. Hence site location is one of the important parameters that must be considered when it comes to establishment of fast food restaurant.
5. Market size: At present, global brands are targeting metros and mini-metros because customer base is large in these regions. Do proper research to find out answers of various questions including: how frequently customer visits to fast food outlets, whether they are price sensitive or not,what kind of recipes they mostly order.
Box-o-burger is leading fast food franchise player which has introduced wide range of Indian style cuisines in QSR format. It is difficult for new brands to find niche position as Indian marketplace is already dominated by global brands. Advantages of burger franchise:
1. High profit margin: Every franchisee wants to generate huge revenues and it will be possible only when franchisors share maximum profit margin. In addition, product costing may vary from place to place, for example in north India rate of burger might differ from south India.
2. Customer satisfaction: Well established brands are focusing mainly on customer satisfaction. They are important stakeholders and it is responsibility of fast food operators to take care of their customers. Box-o-burger is perfect example of food innovation and consistent success.
3. Assistance: As compared to independent business, franchised business is easy because you can get access to profitable and proven business by paying a certain amount to franchisor. Box-o-burger is offering vital support, such as staff recruitment, training, marketing, etc. It goes without saying that fast food franchise market is competitive and there will be more new players penetrate local market.
4. Delicious menu: To keep customer satisfied, fast food brands are engaged in R&D activities so that better products can be developed. At Box-o-burger whole menu is divided into different segments, customers can choose their favourite meals.
To build career in fast food industry, individuals must consider latest trends and opportunities. Box-o-burger has a great deal of influence over customers, in the short span of two years it has gained tremendous popularity. Standardized business models, greater profit margin and high quality cuisines are three basic parameters which are important when considering starting a fast food franchise business.