The food delivery sector is a $2 billion market growing at 30-40% annually. But i believe our target customer is anybody who eats home cooked food, added Anand.
The group which has about 300 home chefs listed with them on the website of which 100 is active chefs, targets to expand its services around the city with the fund raised.
Investing in restaurant business has become part of the big money play. With gross margins going up to 60 per cent upwards, investors are today hungry for the brands that sell well.
The niche players in the industry are setting global benchmarks in India; supply chains are augmenting; world-travelled chefs are opening restaurants in India further facilitating better standards and investors are promoting investment to a great degree.
Hence, we could see that Indian food industry with lots of potential and trends on the way is looking towards disruption of the food business scenario in India seeking exciting opportunity both from shareholders and the investors.
The entry of other global competitors like Burger King, Wendy's, Carl's Jr in the same segment may give these iconic chains a stiff competition as these brands have spent a lot of time in researching about the Indian market.
FMCG brands and Retailers are natural partners as they work hand in glove while doing business. In the field of FMCG retailing, retailers today are exploring all the formats.
Restaurant joints are a major crowd puller in India. Usually sited at malls and hyper markets which are in the limelight, the brands are now strategically entering odd locations like hospitals, ministries, railways and canteens.
According to experts, the trend is linked to multiple factors like growing Indian economy, widening global outlook of Indians due to increased foreign travel with high disposable income among youth.