qsr project final word doc (2)
TRANSCRIPT
OFF-SUMMERSPROJECT REPORT ON
QUICK SERVICE RESTAURANT INDUSTRY
PROJECT GUIDE:Mr. BANDISH MEHTA
SUBMITTED TO:PROF.HITESH PUNJABI
SUBMITTED BY:VIJAY MANE- 87
PRIYAM MENGAJI- 89GURPREET SINGH RIHAL- 100
CHARMI SANGHAVI- 101SAYALI TADAS- 109
MMS FINANCE (2014-2016)
A PROJECT REPORT SUBMITTED IN PARTIAL COMPLETION (OFF-SUMMERS) IN MASTERS OF MANAGEMENT STUDIES
DECLARATION
This is to declare that the study presented by me to Chetana’s R.K. Institute of
Management and Research, in part completion of the MMS-II Semester under
the title “Quick Service Restaurant Industry” had been done under the
guidance of Prof. Hitesh Punjabi. The information submitted in the project is
true and original to best of my knowledge.
Priyam Mengaji
ACKNOWLEDGEMENT
The following is the documentation of our research on “Quick Service Restaurant Industry in India” given to us as a Live Project in the partial completion of my 2-Years degree of Masters of Management Studies.
It gives us great pleasure in expressing sincere gratitude towards our CEO Mrs. Madhumita Patil & our Director Dr. Jayshree Bhakay for providing us with state of the art infrastructure to comfortably carry out the project work.
We would also like to express our sincere gratitude towards our industry mentor Mr. Bandish Mehta who gave us valuable inputs to improve our skill sets in the corporate world. We wish to express our sincere gratitude to Prof. Hitesh Punjabi without whose supervision at each stage of research, the task would not have been accomplished.
INTRODUCTION
A Quick Service Restaurant (QSR), also known as a Fast Food Restaurant
within the Food industry, is a specific type of restaurant characterized both by
its fast food cuisine and by minimal table service. Food served in fast food
restaurants typically caters to a "meat-sweet diet" and is offered from a limited
menu; is cooked in bulk in advance and kept hot; is finished and packaged to
order; and is usually available ready to take away, though seating may be
provided. Fast food restaurants are typically part of a restaurant chain or
franchise operation, which provisions standardized ingredients and/or partially
prepared foods and supplies to each restaurant through controlled supply
channels. The term "fast food" was recognized in a dictionary by Merriam–
Webster in 1951.
Arguably, the first fast food restaurants originated in the United States
with A&W in 1919 and White Castle in 1921.Today, American-founded fast
food chains such as McDonald's and KFC are multinational corporations with
outlets across the globe.
Variations on the fast food restaurant concept include fast casual
restaurants and catering trucks. Fast casual restaurants have higher sit-in ratios,
and customers can sit and have their orders brought to them. Catering trucks
often park just outside worksites and are popular with factory workers.
The Indian QSR Industry is growing rapidly. It is a reflection of the change in
the lifestyle, food habits & consumption pattern of the population. The
incidences of dining out, ordering from home as well as takeaways is rising,
creating an opportunity to cater to a wide mass of population. What was once
the domain of Upper class, singles or forced bachelors has percolated to all
echelons of the society. The incidences and values differ substantially, but
penetration of such consumption habits is widespread and on the increase.
Although an urban phenomenon, the pattern is also emerging in rural areas with
better connectivity, increased vehicle ownership and rise in income levels. In a
country with more than a billion people, opportunities in India are abound. This
has led to a rapid growth of the QSR Industry. However, simultaneously, it has
created a canvass that has many failures and carcass. Several outlets have been
closed, a large number are struggling, still a large number are just about
surviving and a lot many have not been able to find their feet. There are a lot of
them who are successful, but, more importantly, there is almost a complete
absence of national chains, except for two cafes, three to four international
chains and a few regional chains. Even these are a very recent phenomenon and
many of them are struggling. This indicates to the fact that just having a lot of
opportunities is not enough. These opportunities need to be harnessed and
converted into profitable enterprises. This report is an attempt to understand the
Industry, its key success factors and draw a framework for developing a road
map for success.
HISTORY OF QSR
SEGMENTATION OF THE FAST FOOD INDUSTRY
SIZE OF THE QSR INDUSTRY
Even with a contribution of just 2.3% to India’s GDP, the Food Services market is worth INR 247,680 crore (USD 48 billion). It comprises food services in the organized sector (i.e. chain and licensed standalone players across quick service restaurants, fullservice, casual and fine dining restaurants, hotels, bars and lounges, cafés, and frozen dessert formats) as well as the unorganized sector ( dhabas, street stalls, halwais (sweet shops), roadside vendors, food carts, etc.)
The industry can be divided into six formats, viz. Frozen dessert (including Ice Cream and frozen yogurt), Café (including Bakery),QSR (quick service restaurants), CDR (casual dine restaurants), FDR (fine dine restaurants) and PBCL (pub, bar, club, and lounge).
Market Share of QSR in Food Services Industry
café12%
QSR43%
frozen dessert6%
casual dine31%
fine dine4%
PBCL4%
Share in market (2013)
(source: Technopak analysis, 2014)
café11%
QSR50%
frozen dessert5%
casual dine27%
fine dine3%
PBCL3%
Share in market (2018)
(source: Technopak analysis, 2014)
Market size of organized industry
café QSR frozen dessert
casual dine
fine dine PBCL total market
0200400600800
1000120014001600
20132018
organised industry
(in rs billion)
(source: Technopak analysis, 2014)
CAGR of organised industry
café QSR frozen dessert
casual dine
fine dine
PBCL total market
0%2%4%6%8%
10%12%14%16%18%20%
CAGR
CAGR
(source: Technopak analysis, 2014)
Chain market size
Quick Service Restaurants (QSRs) have been a key segment for the Indian Food Services market and have grown over the years. A number of international QSR chains have flocked to India over the past few years, with specific cuisines and product offerings, fuelling the market’s growth.
The entry of a number of players into the QSR space has widened the chain market to an estimated size of INR 5,500 crore (USD 1,060 million) in 2013. Further, this is projected to grow at a CAGR of 25% to reach INR 16,785 crore (USD 3,230million) by 2018. This segment is expected to witness increased activity via market expansion and entry by various players.
CHAIN MARKET SIZE
café QSR frozen dessert
casual dine
fine dine
PBCL total market
0
50
100
150
200
250
300
350
20132018
chain market size
(in rs billion)
(source: Technopak analysis, 2014)
CAGR of chain market
café QSR frozen dessert
casual dine
fine dine PBCL total market
0%
5%
10%
15%
20%
25%
30%
CAGR
CAGR
(source: Technopak analysis, 2014)
Licensed standalone market
café
QSR
frozen
dessert
casual d
ine
fine dine
PBCL
total m
arket
0
200
400
600
800
1000
1200
20132018
licensed standalone market size
(in rs billion)
(source: Technopak analysis, 2014)
CAGR of licensed standalone
café
QSR
frozen
dessert
casual d
ine
fine dine
PBCL
total m
arket
0%4%8%
12%16%20%
CAGR
CAGR
(source: Technopak analysis, 2014)
35%
37%
10%
18%
QSR chain-outlets presence
Metro Cities
Mini Metro Cities
Tier-1 Cities
Tier-2 Cities
67%
19%
14%
QSR chains Sales mix-Dine In v/s Non-Dine In
Dine In
Takeaway
Home Delivery
80%
13%7%
QSR chains-SKU mix
FoodBeverageDessert
(Source: Technopak Analysis, Industry)
KEY PLAYERS IN THE QSR INDUSTRY
DEMAND DRIVERS
Before you place any bets on your business endeavors, it is important to understand the forces that will drive consumers to purchase your products or pay for your services. These forces are known as market drivers, and can be defined as trends that cause markets to develop and grow. Although nearly anything you could think of could serve as a market driver, let’s take a look at the demand drivers for the QSR Industry:
1. GDP GROWTH
Gross domestic product (GDP) is defined by the Organisation for Economic Co-operation and Development (OECD) as "an aggregate measure of production equal to the sum of the gross values added of all resident, institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs.”
(Source: www.rbi.gov.in)
2. CONSUMER BASE & AGE COMPOSITION
2007 2012 2017e0.00%
10.00%20.00%30.00%40.00%50.00%60.00%70.00%
15.80% 16.10% 16.20%19.30% 20.20% 20.60%
64.90% 63.70% 63.20%Consumer base
Sec-A Sec-B OthersYear
Perc
enta
ge
29%
36%
27%
8%
Age Composition (2012)
0-14 years15-34 years35-59 years60+ years
25%
35%
29%
11%
Age Composition (2020-proposed)
0-14 years
15-34 years
35-59 years
60+ years
(Source: Census of India)
3. DISPOSABLE INCOME
The amount of money that households have available for spending and saving after income taxes have been accounted for is known as Disposable Income. Disposable personal income is often monitored as one of the many key economic indicators used to gauge the overall state of the economy.
For example, let's assume your household’s personal income includes $100,000 from salaries and you are paying at the 35% tax rate. Your household's disposable income would then be $65,000 ($100,000 - $35,000). Economists use DPI to gauge households' rate of savings and spending.
FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY120.00%
5.00%
10.00%
15.00%
20.00%
25.00%
9.58%
12.73%14.35%
12.20%
21.33%
14.72% 15.50%
19.56%
Disposable Income (Annual)
Disposable Income
Financial Years
Grow
th ra
te
(Source: www.rbi.gov.in)
4. CONSUMER PRICE INDEX
Consumer Price Index (CPI) measures changes in the price level of a market basket of consumer goods and services purchased by households.
The CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically. Sub-indexes and sub-sub-indexes are computed for different categories and sub-categories of goods and services, being combined to produce the overall index with weights reflecting their shares in the total of the consumer expenditures covered by the index. It is one of several price indices calculated by most national statistical agencies. The annual percentage change in a CPI is used as a measure of inflation.
FY13 FY149.0%
9.2%
9.4%
9.6%
9.8%
10.0%
10.2%
10.4%10.2%
9.5%
Consumer Price Index (Annual)
CPI
Financial Years
Grow
th ra
te
(Source: www.rbi.gov.in)
5. Naukri.com JOB SPEAK INDEX
Hiring trends in the job market on a Yearly and Quarterly basis from 2009-2014:
FY09 FY10 FY11 FY12 FY13 FY14-20.00%
-10.00%
0.00%
10.00%
20.00%
30.00%
40.00%
-13.89%
30.70%
13.85%9.36% 10.29%
16.35%
Naukri Job Speak Index (Annual)
Naukri.com's Job Speak Index
Financial Years
Grow
th
Dec-08
May-09
Oct-09
Mar-10
Aug-10
Jan-11
Jun-11
Nov-11
Apr-12Sep
-12Feb
-13Jul-1
3Dec-
13
May-14
Oct-14
-30.0%
-20.0%
-10.0%
0.0%
10.0%
20.0%
30.0%
-27.4%
5.7%
-7.4%
4.8%0.8%
25.0%
6.0%
-0.6%-2.2%
10.9%5.7%
-1.3%-1.2%
9.5%
2.8%
-3.1%-1.5%
13.4%
0.6%
-3.8%
3.1%
14.5%
7.1%
-2.4%
-10.9%
Naukri Job Speak Index (Quarterly)
GROWTH
Quarter ended
Grow
th ra
te
(Source: www.naukri.com)
SPECIALITY RESTUARANTS
Food is not only of the fundamental requirements for sustaining life. It also stands for nourishment, love, bonding, culture, sensorial pleasure and much more. Four thousand workers and associates at speciality restaurants bring this belief to work every day, creating a special experience for guests and stake holders, with the magic of food. Specialty Restaurant Group was created in 2000, when a group of INVESTOR bought the four restaurant chains from Ruby Tuesday. The INVESTORS, who were former employees of Ruby Tuesday, included the company's current CEO, James CarMichael, who is credited with having led the buyout from Ruby Tuesday
Speciality Restaurants is a leading player in the fine dining industry with restaurants across India and Bangladesh. Its flagship brand, Mainland China, serves authentic cuisines of Chinese provinces through 52 restaurants in 25 cities in India and 1 restaurant in Dhaka, Bangladesh.
The group co brand consists of Oh! Calcutta, serving authentic flavours from Calcutta. Sigree Global Grill which brings grilled flavours from all over the world to the live grill at each table and sweet Bengal, authentic Bengali sweets made with pure cow’s milk by artisans from Bengal.
In recent moves, the group has ventured into casual dining and lounge for the young-at-heart target audience with power brands. Café Mezzuna-All Day Bar and Kitchen and Hoppipola. By offering new age, global flavours and vibrant service. The group is exploring new horizons in today’s growth markets.
Other successes of speciality restaurants include the Brands Haka Machaan, kix,shack and Flame &Grill.
http://www.speciality.co.in/
Mainland China
The kingdom of flavours lying beyond the Great Wall of China is a vast treasure of ingredients Spices and sauces, matched in distinct and numberless ways in different provinces. Mainland china brings the varied harmony of flavours, with authentic ingredients and recipes hand-picked by master chefs from china.
Leverage the equity of Mainland China
• Leverage the brand equity enjoyed by Mainland China brand by expanding in new locations in Metro and Tier 1 cities selectively undertake expansion plans in line with Macroeconomic Developments.
Expansion Plans
Plan to expand new restaurant formats such as Combos and Multi brands Include snack menu and keep restaurants open through the day in Malls Increase Cover Turnover. “Mainland China – Asia Kitchen” to open soon in Oberoi Mall, Goregaon, Mumbai as all day format.
In FY2014, we served more than 3.3 million guests at our restaurants.
Oh! Calcutta
With a rare that celebrates Calcutta’s melting pot of cultures, Oh! Calcutta’s appeal reaches out to food connoisseurs far beyond Bengalis looking for the flavour of home .Authentic Bengali flavours also find contemporary expression in the form of small bites or the canapé grilled and steamed specialities and more. The brand caters to ever growing demand of the discerning Indian Guest to venture out beyond the Tandoori Chicken and Makhani Daal.
Mezzuna
All day bar and restaurant, serving International cuisine, was launched in April 2013.The trend of this young TG (19 – 26 years) with high disposable income is “chilling – spending time in an informal vibrant setting” - drinking out with friends and having finger food. Consultants/ Chefs from Europe and recruitments from Best Hotels/Restaurants in India.All day casual dining - Higher Cover turnover as timing is longer (open between 9 am to 12 midnight) Cuisines encompassing Mediterranean, Moroccan, East Asian, Continental, Spanish, Mexican and Italian flavours with a fantastic range of liquor which is of prime importance. Within a year of opening has been awarded – Times Foods Awards for 2014 inPune in the following category:• The Best All Day Dining Restaurant• The Best Pizza
Sigree Global GrillGlobal Grill is a delicious storm of flavours from all corners of the earth. Unlimited starters like Malaysian satays, Mexican grills, Japanese yakitori, American barbecues are served at the Live Grills on each table. They set a
lively pace of flavours with conversations and a limitless course of seasoned seafood, tender meat and crunchy vegetables turning over live charcoal fire.
The main course buffet spreads across continents with an eclectic balance of Pad Thai, Moroccan tagine, KhauSuey, Italian Lasagne and more. Royal Shawarma and Biryani also enjoy pride of place.
A Live Pasta counter with chefs tossing pasta in fresh sauces provides more food for all senses. French confections vie with royal Indian desserts as a sweet climax to an almost endless, worldwide journey of flavours.
We must be doing something right –Barely over a year old and Global Grill has won the Times Good Food Awards for Best Multi Cuisine Buffet in Mumbai. It has opened its second outlet in Mumbai besides being in Chennai and Bangalore.
A new concept of dining and latest addition to the group portfolio serving a melange of fresh, grilled flavours from all around the globe like Mediterranean, Oriental, Spanish, Mexican and Indian cuisine. Live grills on each table - Unlimited starters that sizzle and grill on each table. Display kitchen and interactive cooking, enhanced by the thrilling and skilful by master chefs. Dramatic ambience of fresh ingredients and exciting culinary styles. Plans to expand the number of outlets given the encouraging response.
BALANCE SHEET 2014
FINANCIAL OVERVIEW
FINANCIAL RATIOS
Source: technopak report 2014
Net profit of Speciality Restaurants declined 51.87% to Rs 3.22 crore in the quarter ended December 2014 as against Rs 6.69 crore during the previous quarter ended December 2013. Sales rose 17.76% to Rs 79.11 crore in the quarter ended December 2014 as against Rs 67.18 crore during the previous quarter ended December 2013.
Particulars Quarter Ended? Dec. 2014 Dec. 2013 % Var.
Sales 79.11 67.18 18OPM % 10.73 16.25 -PBDT 10.44 13.64 -23PBT 3.96 8.92 -56NP 3.22 6.69 -52Powered by Capital Market - Live News
JUBILANT FOODWORKS
Jubilant FoodWorks Limited (the Company) is a Jubilant Bhartia Group Company. The Company was incorporated in 1995 and initiated operations in 1996. The Company got listed on the Indian bourses in February 2010. Mr. Shyam S. Bhartia, Mr. Hari S. Bhartia and Jubilant Enpro Private Ltd. are the Promoters of the Company.
The Company & its subsidiary operates Domino’s Pizza brand with the exclusive rights for India, Nepal, Bangladesh and Sri Lanka. The Company is India’s largest and fastest growing food service company, with a network of 844 Domino’s Pizza restaurants (as of February 05, 2015). The Company is the market leader in the organized pizza market with a ~70% market share in India (as per Euromonitor data published in 2014).
The Company launched Dunkin’ Donuts in India in April 2012 in Delhi. The Company has 50 Dunkin’ Donuts restaurants in India (as of February 05, 2015).With the launch of Dunkin’ Donuts in India, the company is now well poised to address two distinct non-competing segments of the Food Service Industry in India, namely the home delivery of Pizza’s market and the all day part food and beverage market.
Dunkin’ Donuts is the world’s leading Donuts, baked goods and coffee with market leadership in Donuts, regular/decaf drip coffee, iced coffee, hot flavoured coffee, bagels and muffin categories.
Dunkin’ Donuts (DD) in India is positioned as a Food Café, occupying the sweet spot between Cafés and quick service restaurants. DD serve a wide range of Donuts, Dunkin’ Donuts Original Blend drip coffee; Espresso coffee based beverages such as Cappuccino and Latte, Milkshakes, Smoothies, Iced Teas, as well as a delectable range of Burgers, Wraps, Sandwiches and side-bites. Each Dunkin’ Donuts restaurant is designed with care and brings alive the brand’s International, youthful, colourful and playful brand personality. The restaurants offer its young guests a great ambience to catch up with their friends and family in a relaxed and comfortable environment. And yes, Dunkin’ also serves the world’s best Donuts.
CHALLENGES FACED BY THE QSR INDUSTRY IN INDIA
Food price inflation is a key factor affecting the consumer food services market, and is impacted by delayed monsoons, the economic slowdown, and unfavorable demand-supply conditions. It keeps fluctuating and reached a peak of 18% in2010.
The QSR market has many small and mid-size unorganized players competing with large chain players. This fragmented market reflects a number of challenges, including unclear format segmentation, varied consumer options for eating out, and the lack of best practices for food services outlets.
Manpower is a big challenge in the food services market, with an attrition rate of 25-30%.
High real estate and labor costs tend to impact store profitability. The industry’s supply chain is fragmented in nature and marked by the
presence of multiple intermediaries. The lack of appropriate infrastructure, inadequate technologies, and the non-integration of the food value chain are factors key to the wastage of nearly 30-40% of prepared food across the supply chain.
In India, obtaining the requisite licenses, e.g. health license, food safety license, police license, No Objection Certificate (or NOC, from the fire department and the state pollution control board), etc. is a major obstacle hindering the smooth operation of a restaurant. The process is not centralized as yet and requires filing applications with individual stakeholders, which involves a lot of paperwork and is a time-consuming activity.
The Indian restaurant industry is burdened with multiple taxes like VAT, excise, and service tax, besides different state taxes, which add up to 20- 25% of the bill value.
Top Trends for 2015
1. Growing Demand for Takeaway and Home Delivery Services
The demand for takeaway and home delivery services has swelled over the years across all formats and cities, driven by factors like increasing time poverty, long travel times, increase in the number of working women and a consequently greater dependence on prepared food, a younger population, higher disposable incomes, increasing all-round efficiency of the delivery business in India in terms of the order taking process, the packaging, the delivery time, coverage, and value offers, and the growth of online channels.
Additionally, the ease of communication has spurred demand for takeaway and delivery channels, and has in turn encouraged operators to trigger formats that are purely focused on maximizing revenues earned through this channel, e.g. Domino’s Pizza, Pizza Hut Delivery, etc. Food service operators are alsoinvesting substantially in delivery infrastructure to facilitate higher efficiencies and reduce transaction costs.For example, McDonald’s, which only launched its home delivery service (McDelivery) in India in 2004, also invested USD 0.55 million in 2007 to strengthen this delivery channel and widen its reach across the Indian market. Thus, the home delivery segment is evolving, with growth estimated in the range of 30-40% over the next five years. Food service operators are trying their hand at the home delivery format as an added revenue stream which, on average, adds 10-20%. The potential of the delivery format has also gainedtraction with the evident success of prominent pizza chains in India which have derived 40-65% of their revenues from this format.
2. Role of Apps and Web-based OrderingWith the growth in computer literacy and access to smartphones and the Internet, the home delivery business is all set to grow. Domino’s Pizza is leading this change from the front; of its total reported revenue of INR 385 crore in third-quarter 2013, about 50% came from the delivery business. Again, 14% of the total delivery sales (~INR 27 crore) were made through online channels, through both mobile apps and online ordering. Although the mobile app business, started in 2012, only contributes about 10% of the online business
(which started in 2011), Domino’s Pizza expects this to double within a year. About a million apps have already been downloaded, as per the company’s claims. This is line with the experience of other retailers, who are realizing the potential of the e-tailing opportunity in India against the brick-and mortarformat.
3. Delivery-focused WebsitesWhile Domino’s Pizza has gone ahead with its own website and app, other operators are also tapping the food delivery market. Many players have joined hands with specialized delivery portals like FoodPanda, Tastykhana, JustEat, etc. as a means of testing waters. These businesses work on a commission-basedmodel. The advantage to the consumer is that he can access multiple restaurants through a single website/mobile number, and that these companies often negotiate exclusive offers in terms of value from the restaurants.Zomato, India’s premier restaurant rating website, has also realized the potential of the home delivery business in India, and has developed a model whereby they have combined the brand visibility on Zomato.com with the third party administration of the delivery/dine in business.
4. Do-it-yourself HealthThere are people heavily into gluten-free, who care about [genetically modified organisms], who want low-fat or organic items. Health-minded consumers often gravitate to places like Subway, Panera Bread, and Chipotle Mexican Grill that allow them to customize their orders, thus choosing their own healthful options. This extends to vegetarians and vegans, who are not only seeking healthier foods, but also have animal rights on their minds.
5. Convenience Food gaining share in the menuFor Quick Service Restaurants (QSRs) players, convenience and consistency is a core deliverable.International players like McDonalds, Pizza Hut, Domino’s Pizza, KFC, etc. prefer to use varied forms of convenience foods either as a part of their recipe or as the final serving to the consumer. Tomato Ketchup and other sauces, for instance, are used as an accompaniment, while frozen patties and sausages asrecipe ingredients, and frozen French fries and wedges as side dishes. The food service industry has registered swift growth in the past decade, with both international (McDonald’s, Pizza Hut, Domino’s Pizza, etc.)and homegrown chains (Mast Kalandar, Rajdhani, Kaati Zone, Haldiram’s, etc.) booming.It is projected to grow further, at a double-digit rate, over the next five years. This has encouraged both budding entrepreneurs and existing businesses to venture into this sector and glean knowledge from existing players in order to replicate their success. Among such knowhow is an exposure to and adoption of
convenience foods. We now have well established companies which provide sauces, dairy products, processed meats, frozen foods, ready-to-eat, ready-to-cook, pickles etc. of a very high quality manufactured in plants of international standards. The availability of these ingredients in the market has in turn aided in the growth of the foodservices industry as a whole, with more and more chefs now believing in “smart” selection of ingredients therefore procuring ingredients at different levels of finishing, based on their importance in the recipes.
6. Social Media Stimulating the Brand Connect
The connection between end-consumers and businesses has always played a pivotal role in the development and growth of any business. For consumer-driven segments, such communication becomes ever more important as it provides a platform by which operators can gauge the pulse of consumers. Thishelps businesses pull the right strings in terms of tapping into consumer behavior.
India has a median age of 26 years. The use of social media is part of this young population’s lifestyle as this has become the preferred mode of expressing views, seeking opinions, and sharing feedback. The youth immediately connects with brands which are seen to be “socially” active as well as interactive. Sincethe youth forms the bulk consumer for most foodservice operators today, social media has evolved as the medium of choice for connecting with their consumers.
F&B Brand Number of Facebook fans Avg. no. of posts per month
7. Emergence of New F&B DestinationsWhile malls and high streets have been the traditional locations for F&B outlets, a new breed of food-centric destinations is emerging. Popularly dubbed “Food Hubs”, they typically have zero or negligible retail/entertainment quotient. In turn, these locations depend on commercial and residential catchments; theconcentration of F&B offerings also makes them a destination of choice for foodaholics.
8. AirportsOver the past few years, Indian aviation has seen plenty of twists and turns. However, airline traffic in India has been registering a continuous growth in both the domestic and international segments.This increase in traffic has necessitated the growth of infrastructure in the form of new airports as well as bigger terminals at existing ones. Since F&B is an important component of such terminals, this is expected to create many new opportunities for F&B operators in the years to come.
BIBLIOGRAPHY
www.rbi.gov.in
www.speciality.co.in
www.jubilantfoodworks.com
www.naukri.com
www.cbfcindia.gov.in
www.technopak.com
CERTIFICATE
This is to certify that the study presented by Priyam Mengaji to the Chetana’s
R.K. Institute of Management and Research, in part completion of MMS-II
Semester under the title “Quick Service Restaurant Industry” has been done
under the guidance of Prof. Hitesh Punjabi.
The project is in the nature of original work that has not so far been submitted
for any Course of Chetana’s R.K. Institute of Management & Research or any
other University / Institute.
Prof. Hitesh Punjabi Mr. Bandish Mehta
(Academic Guide) (Industry Mentor)