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QSR (QUICK SERVICE RESTAURANT)
The QSR market has been gaining popularity in India and across the globe due to the current lifestyle of people, craving for quick meals, time-constraint to cook elaborate meals after office hours. This has led to a very good opportunity for entrepreneurs to invest in the QSR franchise business. Not only from India, but brands are expanding from other countries in Indian states.
As per the study by Research and Markets, the QSR market increased 17% (2016 to 2020) and the forecast expects to reach 820 Bn (INR) by 2025.
A quick glimpse of the QSR list is as below:
1. Burger King India Pvt. Ltd.
2. Jubilant FoodWorks Ltd.
3. Coffee Day Global Ltd.
4. Jumbo king Foods Pvt. Ltd.
5. Subway Systems India Pvt. Ltd.
6. Tata Starbucks Private Limited
7. Westlife Development Limited
8. KFC
9. Pizza Hut
In March 2020, when the pandemic hit us badly, the Government was bound to announce lockdown for the safety of people from the virus. The Food Industry, like any other industry, also had an impact on the business. The QSR market, owing to the restrictions, adopted the food delivery model, which had helped to run the business to some good extent. However, from 2021, QSR models have again picked up their growth and are expected to generate huge business in the coming years.
Insights about QSR is gaining popularity and growth in business in Franchise Business in India
1. Growing numbers of consumers eating out and the variety of options available (veg/non-veg/vegan/Jain food).
2. Easily available outlets in all the Malls and shopping areas increase the footfalls of the public.
3. Various payment options (UPI/CARD/CASH)
Steps to open QSR are pointed below
1. Survey and analyze and then decide on the location.
2. Hire efficient resources for the Quick Service Restaurants.
3. Ensure to standardize products, decide on inventory supplier, coordinating with the vendors.
4. Menu planning
5. Work on marketing, sales, and advertising strategies.
6. Expansion with time
The QSR model is beneficial as the charges are similar to that of casual dining-in whereas there are huge savings on seating arrangements, interiors, staff, crockery, etc. But the sale has to be consistent to get the return on investment.