Fast Food Business in India

1. Fast Food Business in India www.aatmnirbharsena.org

2. Introduction • A fast-food business in India is a form of quick-service point offering dine out or online food services. • The purpose behind choosing fast food as the business enterprise is that the fast-food industry is expanding tremendously due to reform and many multinational chains like Mc. Donald, KFC, etc. • International chains are considerably costly, and people favor them over local chains because they are deemed glamorous. Due to this viewpoint, there is unforeseen progress in India's fast-food chains and worldwide. www.aatmnirbharsena.org

3. The desire for fast food in India is noted amongst all ages as it allows a quick bite and is pocket friendly as well. • Running a fast food business from an entrepreneur is extremely feasible and rewarding. • The call for fast food shall never reach the point of saturation, and it demands low-cost investment to commence the fast-food business in India. • The fundamental edge given to India's fast-food industry is that it a business free from recession. www.aatmnirbharsena.org

4. Fast Food Business- Emerging Form of Business • In the hustle-bustle of a world where relaxation time has become more significant, the shorter time spent working and preparing to eat allots more available time to proceed with leisure activities. • People who cannot cook at the house now only have to click on the Internet to discover any local restaurant or fast food corner that will be more than glad to serve or present the freshly cooked hot meal ready to eat straight to with minimum ado. www.aatmnirbharsena.org

5. Apart from satisfying the thirst of millions of food lovers throughout the country, these food chains contribute to India's economy in a significant manner. • The fast-food business's concrete side is that it avails job opportunities to many unemployed individuals in India. • The fast-food business in India is one of the most assuring and thriving sectors. In India, an uptick in disposable income has, in turn, raised the frequency of dining out. • According to another report, the fast-food market in India might rise at a CAGR of 18 percent by 2020 due to varying consumer behavior and demography, which betokens that India is also sailing in the same ship as that of the US. www.aatmnirbharsena.org

6. Fast Food Business- Business Plan • The fast-food business in India needs a holistic business plan that bestows a pathway of your long-term business goals, visions, strategies, etc. • It does not demand an enormous sum to invest in your fast food business plan. Here, All the entrepreneurs can establish their business without going out of the way. • They need to compose a business plan that enlists all vital factors like running the business, source of finances, total expenses, procuring necessary licenses and registrations, marketing, branding, working on staff, etc. • In short, all you need to think upon is rendering quick service, a proper environment, and quality food. You are also obliged to lay down your business's concept or mission to treat it as a pillar. www.aatmnirbharsena.org

7. Market Potential • Firstly, all you require is to examine the fast-food business market in India and analyze the customers' preference for any particular region where you want to commence your business up. • An entrepreneur should try to opt for a fast-food chain distinct from surviving fast-food chains in the area. A diversity of products will keep you sailing in the competition and be a vital point of attraction for your customers. • After an out-and-out study, make a business plan for your reference and count on the work as it progresses. A fit business plan will also bring your investors and strengthen trust in the projects to grant you the loan. www.aatmnirbharsena.org

8. Start-up Expenditure • In establishing any fast food business in India's boundaries, the cost of business will depend on the path you want to undertake. • If you plan to rent a business place, you would require an abundant amount of capital as you would like to secure that your workers are taken charge of. • The machines and equipment utilized are nearly the same cost everywhere, and any variation in prices would be trifling. www.aatmnirbharsena.org

9. Cost Analysis in Detail • Rent- The rental cost for a space of the relevant size in a pertinent locality must be about Rs. 80,000 to Rs. 1, 00,000 monthly. It is proper to be adjusted to submit one or two months of payment in advance.  • Kitchen equipment/ raw materials- Originally, it can cost you almost Rs. 2.5 Lakhs to fix kitchen with fitting kits. Once set to initiate operations, you will need to pay money on the raw material you'll require every month, such as vegetables, spices, and oil.  • Cost of labor- Well trained staff is obligatory for the successful running of the firm. Nearly Rs 1.5 Lakhs monthly is spent on workers, including the chef, head chef, delivery guy, waiter/waitress, manager. It covers uniforms and other amenities for their protected working surroundings.  • Licensing- Licensing can cost you about Rs.30,000. • Food Technology- Progressions in the food sector realm can cost you around 25,000 to 30,000 on a monthly basis.  • Marketing- Rs 40,000 roughly can comfortably be spent for marketing purposes. www.aatmnirbharsena.org

10. Financial Assistance to Fast Food Business • The fast-food business in India operates swimmingly with a low-cost investment. • Before penning down a proper business plan for the fast-food industry, one should look into the numerous sources to avail the finances in an efficient way. • Though the funds employed here are inadequate, adequate finance management is essential to ensure sound business services. • Hence, before starting, one must look into all potential sources of income one can comprehend. www.aatmnirbharsena.org

11. Essential Sources of Finance • Crowd-funding • Generating a portion of the capital from personal savings. • Soft loans from members of the family and friends. • A loan from financial institutes/banks. • Investor's aid and support. www.aatmnirbharsena.org

12. Deciding a Location • The fast-food restaurant location must be in an area rich in population and often toured by the people. • If the fast-food corner locality is far off from the city's hustle-bustle, your fast food restaurant won't gain much acknowledgment and popularity. • Holding the target audience in mind, one needs to try to be close to it. A restaurant's location must be either on the ground floor or lower. • A space of around 500 square feet is fancied to accommodate the kitchen and counter with minimum congestion. • One should check for proper electricity, security, gas, water, safety, and ventilation. www.aatmnirbharsena.org

13. Form of Company • To obtain a legal entity for conducting the business of fast-food, one should give heed on what form of the company he wants to set. • An entrepreneur can get their restaurants enrolled as a sole proprietorship, a limited liability company, a partnership, or corporation—the type of corporation you prefer to play a notable role in availing the successful business operation interests. www.aatmnirbharsena.org

14. Mandatory Licenses and Registrations • There are various licenses and permissions that one might require before establishing a fast food business in India. • There are numerous registrations and permits in our country if you are ready to launch a small or big fast-food chain. • Now, applying for an online license is more of a cakewalk with the most limited complications. • A business entrepreneur might expect to get in touch with various local authorities to obtain specific permits to carry on business smoothly. www.aatmnirbharsena.org

15. Eating house license is obtained by the Commissioner of Police of the city you live in. • GST registration is another significant factor in managing a fast food business in India. • Shop and establishment license for a fast food business within 30 days of initiating the trade. • FSSAI License is a necessity to ensure that the food quality is up to the mark, and the food served to the customers matches the demands of food safety standards in India. • A fire safety clearance and the certificate of environmental approval must be obtained to ensure that the business does not affect the environment. www.aatmnirbharsena.org

16. Insurance is Vital! • Insurance serves as a safety valve for India's fast-food business and shields it from uncertainties that might come from its regular operations. • Insurance is a knight for any unseen casualty that might occur at any unexpected moment. www.aatmnirbharsena.org

17. Branding & Marketing • Picking the right brand name is a crucial part of setting a fast food business in India. • Great brand names can significantly work as a successive point for a product or a company. • Ere having a grand opening of fast food business chain in India, market about your restaurant via social media platforms. • It is desirable to invite any celebrity or well-known face for the inauguration so that the opening will be magnificent to let the people notice you and draw a unique customer set. • Distributing pamphlets to the nearby houses in the area and between newspaper pages, where you can extend the first 50 or 100 or so customers an amazing gift voucher or discount or things to lure customers, is an efficient method. www.aatmnirbharsena.org

18. To Wrap Up • Acknowledging these necessary points, one can confidently adjust to initiate fast food business in India with no second thought. • The government is also supporting small business entrepreneurs via jaw-dropping schemes and privileges. • As an Aatmnirbhar Sena, we are also leading to support and help the interested entrepreneurs who are willing to take up fast-food business as their brand-new venture. www.aatmnirbharsena.org