As restaurants are returning to new normal and finding ways to continue their operations and businesses, restaurant owners are finding new ways to continue running their restaurants. Many restaurants are focusing on delivery, takeaway while others are changing their models and concepts. F&B major like Lite Bite Foods have already ventured into the cloud kitchen business as they see that people are preferring delivery over dine-ins during this time and going forward.
"Lite Bite Foods is constantly seeking new avenues to grow and the new acquisitions and innovations further strengthen this vision. The online food delivery segment in India is set to grow at around 12% annually, with the current scenario giving it a boost. We are investing approx 25Cr in LBF Cloud Kitchens and are targeting at a turnover of 100cr in the next 3 years,” shares Rohit Aggarwal, Director Lite Bite Foods Pvt. Ltd who is ensuring sustainable growth and constant expansion by planning to have all kitchens profitable at a unit level.
Similarly, many restaurants are launching DIY kits and meal options that can be ordered and delivered safely at home. “Response is very good as everybody being home and getting a welcome change from the regular Indian or home-made cuisine.
We being in Asian space people were craving for those flavours as they are difficult to cook at home unlike pizza, pasta,” adds Saurabh Khanijo of Kylin that sells around 50-100 kits a day.
Impact on the sector
“Working capital is one of the biggest concern right now. While our revenue streams are switched off, our costs still remain on,” says Avik Chatterjee, Director, Speciality Restaurants who is working on the redesign for all their restaurants with various options to fit different capacities & made it COVID proof. “We would start work towards it once we have a better understanding from the government on the new regulations for hospitality,” added Chatterjee.
“Well, the impact itself is COVID. Hence, when covid is out of our lives in the long term I see a very positive future for restaurants”, he pointed for whom the term period is defined by the time taken to achieve a vaccine. Hence until then, restaurants need to operate with utmost care.
“We would request help with Working Capital loans, ESIC regulatory reforms, input credit tax for the industry along with a list of many other focused areas for small business survival,” he added when asked about help from Government.