A fast-food business in India is a form of quick-service point offering dine out or online food services.
The purpose behind choosing fast food as the business enterprise is that the fast-food industry is expanding tremendously due to reform and many multinational chains like Mc. Donald, KFC, etc.
International chains are considerably costly, and people favor them over local chains because they are deemed glamorous. Due to this viewpoint, there is unforeseen progress in India's fast-food chains and worldwide.
2. Introduction
A fast-food business in India is a form of quick-service
point offering dine out or online food services.
The purpose behind choosing fast food as the
business enterprise is that the fast-food industry is
expanding tremendously due to reform and many
multinational chains like Mc. Donald, KFC, etc.
International chains are considerably costly, and
people favor them over local chains because they are
deemed glamorous. Due to this viewpoint, there is
unforeseen progress in India's fast-food chains and
worldwide.
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3. The desire for fast food in India is noted amongst all
ages as it allows a quick bite and is pocket friendly as
well.
Running a fast food business from an entrepreneur is
extremely feasible and rewarding.
The call for fast food shall never reach the point of
saturation, and it demands low-cost investment to
commence the fast-food business in India.
The fundamental edge given to India's fast-food
industry is that it a business free from recession.
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4. Fast Food Business- Emerging
Form of Business
In the hustle-bustle of a world where relaxation time
has become more significant, the shorter time spent
working and preparing to eat allots more available
time to proceed with leisure activities.
People who cannot cook at the house now only have to
click on the Internet to discover any local restaurant or
fast food corner that will be more than glad to serve or
present the freshly cooked hot meal ready to eat
straight to with minimum ado.
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5. Apart from satisfying the thirst of millions of food lovers
throughout the country, these food chains contribute to
India's economy in a significant manner.
The fast-food business's concrete side is that it avails job
opportunities to many unemployed individuals in India.
The fast-food business in India is one of the most assuring
and thriving sectors. In India, an uptick in disposable
income has, in turn, raised the frequency of dining out.
According to another report, the fast-food market in India
might rise at a CAGR of 18 percent by 2020 due to varying
consumer behavior and demography, which betokens that
India is also sailing in the same ship as that of the US.
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6. Fast Food Business- Business Plan
The fast-food business in India needs a holistic business plan
that bestows a pathway of your long-term business goals, visions,
strategies, etc.
It does not demand an enormous sum to invest in your fast food
business plan. Here, All the entrepreneurs can establish their
business without going out of the way.
They need to compose a business plan that enlists all vital factors
like running the business, source of finances, total expenses,
procuring necessary licenses and registrations, marketing,
branding, working on staff, etc.
In short, all you need to think upon is rendering quick service, a
proper environment, and quality food. You are also obliged to lay
down your business's concept or mission to treat it as a pillar.
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7. Market Potential
Firstly, all you require is to examine the fast-food business
market in India and analyze the customers' preference for
any particular region where you want to commence your
business up.
An entrepreneur should try to opt for a fast-food chain
distinct from surviving fast-food chains in the area. A
diversity of products will keep you sailing in the
competition and be a vital point of attraction for your
customers.
After an out-and-out study, make a business plan for your
reference and count on the work as it progresses. A fit
business plan will also bring your investors and strengthen
trust in the projects to grant you the loan.
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8. Start-up Expenditure
In establishing any fast food business in India's
boundaries, the cost of business will depend on the
path you want to undertake.
If you plan to rent a business place, you would require
an abundant amount of capital as you would like to
secure that your workers are taken charge of.
The machines and equipment utilized are nearly the
same cost everywhere, and any variation in prices
would be trifling.
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9. Cost Analysis in Detail
Rent- The rental cost for a space of the relevant size in a pertinent
locality must be about Rs. 80,000 to Rs. 1, 00,000 monthly. It is proper
to be adjusted to submit one or two months of payment in advance.
Kitchen equipment/ raw materials- Originally, it can cost you
almost Rs. 2.5 Lakhs to fix kitchen with fitting kits. Once set to initiate
operations, you will need to pay money on the raw material you'll
require every month, such as vegetables, spices, and oil.
Cost of labor- Well trained staff is obligatory for the successful
running of the firm. Nearly Rs 1.5 Lakhs monthly is spent on workers,
including the chef, head chef, delivery guy, waiter/waitress, manager. It
covers uniforms and other amenities for their protected working
surroundings.
Licensing- Licensing can cost you about Rs.30,000.
Food Technology- Progressions in the food sector realm can cost you
around 25,000 to 30,000 on a monthly basis.
Marketing- Rs 40,000 roughly can comfortably be spent for marketing
purposes.
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10. Financial Assistance to Fast Food
Business
The fast-food business in India operates swimmingly
with a low-cost investment.
Before penning down a proper business plan for the
fast-food industry, one should look into the numerous
sources to avail the finances in an efficient way.
Though the funds employed here are inadequate,
adequate finance management is essential to ensure
sound business services.
Hence, before starting, one must look into all potential
sources of income one can comprehend.
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11. Essential Sources of Finance
Crowd-funding
Generating a portion of the capital from personal
savings.
Soft loans from members of the family and friends.
A loan from financial institutes/banks.
Investor's aid and support.
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12. Deciding a Location
The fast-food restaurant location must be in an area rich in
population and often toured by the people.
If the fast-food corner locality is far off from the city's
hustle-bustle, your fast food restaurant won't gain much
acknowledgment and popularity.
Holding the target audience in mind, one needs to try to be
close to it. A restaurant's location must be either on the
ground floor or lower.
A space of around 500 square feet is fancied to
accommodate the kitchen and counter with minimum
congestion.
One should check for proper electricity, security, gas, water,
safety, and ventilation.
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13. Form of Company
To obtain a legal entity for conducting the business of
fast-food, one should give heed on what form of the
company he wants to set.
An entrepreneur can get their restaurants enrolled as a
sole proprietorship, a limited liability company, a
partnership, or corporation—the type of corporation
you prefer to play a notable role in availing the
successful business operation interests.
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14. Mandatory Licenses and Registrations
There are various licenses and permissions that one
might require before establishing a fast food business
in India.
There are numerous registrations and permits in our
country if you are ready to launch a small or big fast-
food chain.
Now, applying for an online license is more of a
cakewalk with the most limited complications.
A business entrepreneur might expect to get in touch
with various local authorities to obtain specific
permits to carry on business smoothly.
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15. Eating house license is obtained by the Commissioner
of Police of the city you live in.
GST registration is another significant factor in
managing a fast food business in India.
Shop and establishment license for a fast food business
within 30 days of initiating the trade.
FSSAI License is a necessity to ensure that the food
quality is up to the mark, and the food served to the
customers matches the demands of food safety
standards in India.
A fire safety clearance and the certificate of
environmental approval must be obtained to ensure
that the business does not affect the environment.
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16. Insurance is Vital!
Insurance serves as a safety valve for India's fast-food
business and shields it from uncertainties that might
come from its regular operations.
Insurance is a knight for any unseen casualty that
might occur at any unexpected moment.
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17. Branding & Marketing
Picking the right brand name is a crucial part of setting a fast
food business in India.
Great brand names can significantly work as a successive point
for a product or a company.
Ere having a grand opening of fast food business chain in India,
market about your restaurant via social media platforms.
It is desirable to invite any celebrity or well-known face for the
inauguration so that the opening will be magnificent to let the
people notice you and draw a unique customer set.
Distributing pamphlets to the nearby houses in the area and
between newspaper pages, where you can extend the first 50 or
100 or so customers an amazing gift voucher or discount or
things to lure customers, is an efficient method.
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18. To Wrap Up
Acknowledging these necessary points, one can
confidently adjust to initiate fast food business in
India with no second thought.
The government is also supporting small business
entrepreneurs via jaw-dropping schemes and
privileges.
As an Aatmnirbhar Sena, we are also leading to
support and help the interested entrepreneurs who are
willing to take up fast-food business as their brand-
new venture.
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