Higher operational costs derive from saving money on low-cost infrastructure. It takes about six to seven months for a new brand to break even, excluding capital costs.
It's a great concept in a lot of ways, for instance, it takes down the cost of hosting a party or an event down drastically, a lot of times this also means no license is needed, and for the event audience, they don't have to buy unnecessarily expensive booze.
In India, the mystery shopping business is in its infancy but quickly picking up pace. The industry is estimated to be worth around `70 crore and employs over two lakh people on a part-time basis.
The pandemic has encouraged customers to order in which has made the concept of takeaways and driveways become very popular. Utilizing this to full potential, brands also initiated takeaway discounts helping with more orders while also saving us from aggregator margins.
Delhi, Bangalore and Ahmedabad are moving fastest towards normalcy with a 70 percent recovery rate projected to be achieved in this festive quarter, followed by Kolkata, Chennai, Jaipur and Hyderabad with a 55 percent recovery rate.
On an average, food courts contribute almost 8-10 percent of the total mall revenue and in the case of malls with great offerings in their food courts, this number can even go as high as 15 percent.
The Indian restaurant industry 2.0 is more diverse, full of risk-takers and more creative than ever. For many, it is just the right time to enter the market.
And, at a time when F&B brands are planning to build their own in-house delivery capabilities and use various tools to develop own ordering channels, as a prolonged wave of covid casts uncertainty business for the food services industry, many are in fact relying on these aggregator platforms to better target the right customers.
Many a times, it happens that customer is ordering a smaller amount of food or supplies, in that case always look for two things; which menu items you can temporarily eliminate (those ordered less frequently) and which meals your most loyal guests tend to prefer. This will help you in saving an unwanted cost.