Appendix

Looking at the Graph, we are able to project a potential incremental growth of demand versus supply. Incremental is based on the following criteria. 1. Total local market population of the business location 2. Minimum Minimal projected average sales of 35-50 units per day for SIX days to cater a potential market population of 1,000 people. 3. A six month projection with a Incremental boost In sales for the first quarter to the 4th month and a plateau projection at the 5th month onwards subject to business performance review.In order for us to come up with a price point data, we decided to follow the price point signaled by the Stir Fry Noodle kiosks in Greater Metro Manila. This is to eradicate any possible price adjustments in the future should we wish to grow the business further by offering franchising opportunities to other entrepreneurs who wish to franchise our start up business. We also believe that the Stir Fry noodle kiosks have already undergone an extensive survey on an af fordable price point for the Stir Fry Noodles considering this will be the first of Its kind In Dave Doctors College canteen.We will be offering a variety of promotions identified on specific occasions as well as seasons to ensure a steady flow of client interest and repeat purchases. Timeliness will also be created with regard to marketing activities to further ensure the implementation as well as the executing and viability of success for each and every marketing activity done. Initial activities and strategies would be below the line marketing strategies considering that we have a very minimal budget and funds for marketing activities.Some of these would be the following: Price promotion On the opening day we will create a single day promotion or opening salvo promotion f 50% off for the first 100 customers. This Is to ensure we will create a stir during opening day and ensuring that we will be able to reach a maximum number of clientele who would be satisfied with our product an d spread by word of mouth our business. Vouchers and coupons We would be selling out discounted vouchers or coupons at 50% lesser price than the standard price point. The objective of doing this is to maximize the number of people who redeem them.Gifts with purchase (Pick a prize event) We would give customers something extra or get the chance to win something extra . E. An additional simoom or a free drink when they buy one or more stir fry noodles. And finally in this day and age of technology and social media, we will ensure that our social media presence is engaging as well as intriguing enough to gain a number of followers thereby ensuring us a potential captured market who would not only be our potential customers but a potential business partner In the near future.At the onset of the business we will initially focus on serving and delivering the quality and standards we wish to impart on our immediate clientele. Of course we ill not discount the power of clients who wish to t aste our product thus once we have established a proper process flow and operational system, we will expand our branches to other areas such as the following: Overland transport terminals Bazaar Areas Exhibit and Booth Activities Schools and or Universities Malls Business Hubs And wherever we deem there is enough flow of consumer traffic as well as including delivery and packed meals to our service.In ensuring that this will increase our sales and profitability we will therefore have to add more machinery such as our own emissary / kitchen to cater to these expansions and services. For deliveries, we will initially be accepting deliveries in the 1 kilometer radius and increase our capacity as well as delivery fleet detrimental on the demand generated. A dedicated mobile number for the three networks will be provided and sooner or later a SMS auto capturing and relaying system similarly used by R. A.Ha Taxi services will be used to ensure that no orders will be forgotten and that eff iciency as well as timeliness of the deliveries will be ensured. Product Identification HO-MAIM GOAD Stir Fry Noodles is a food cart that offers stir fried noodles mixed with a variety of condiments, sauces and mixtures that the customer can freely choose based on their very own palate complimented with their own choice of dim sum (sis- mat). The customer simply has to mix in their preferred sauces and may choose to experiment mix matching these sauces and condiments to suit their taste topped by their selected choice of dumdums.Dumdums choices will either be pork, chicken, beef, shrimp and crab. Beverages such as mineral water and the local stag's Goldman mix ill also be available for consumption as these will complement the taste of the Stir- fry noodles. Should the customer wish to have a pre-concocted sauce then a menu of the specific pre concocted sauce will be provided of which they will mix in with Strength No existing competitors in the immediate vicinity to up to approximat ely meters from business location.Multiple condiments and sauces complement ones creative imagination in coming up with their own personal flavor and taste A full and affordable meal complete with the basics such as carbohydrates and protein acquirement of the human body. Affordable pricing for a sumptuous meal complete with sanitary and quality set standards. Weakness Start up business without any existing process and operational flows. Needs resources for the accumulation and procurement of raw materials and main ingredients.No procedural flow chart on product preparation and standardization. Lack of training for potential manpower employment. Lack of initial capitalization and funding resource. Opportunities Big room for expansion considering there is no other competitor with the same concept in the local region. Marginal room for error considering the startup location of the business will be established in a lesser populated area thereby increasing chances of improving process f lows and preparation standardization.

QSR Industry In India Essay

Executive Summary 4 ï‚ ¨ India is witnessing rapid urbanization of small towns and growth of mid-sized cities. This along with rising population in key metros and higher disposable incomes is fuelling growth in every industry. 35% of India‟s population will be in urban centres by 2020 totaling to 53 crores compared to the current urban population of 32 crores. ï‚ ¨ Consumer markets are being driven by the country‟s youth population. Be it college goers or the young working class, exposure to the international environment and culture, has created a demand for world-class products at affordable prices. ï‚ ¨ This has led to the rise of Quick Service Restaurants (QSRs) in India, the fastest growing segment in the eating out market. By 2012, there will be at least 2000 more QSR outlets across India. ï‚ ¨ With QSR giants like Starbucks and Dunkin‟ Donuts yet to foray in the market, there is a lot to look forward to. 5 Industry Overview 7% of the total restaurant market comprises of QSRs 6 ï‚ ¨ The Indian fast food market is growing at an annual rate of 25-30 per cent, Foreign fast food chains are Estimated Size of the Indian Restaurant Industry Organized Eating Out Market, Rs. 8600 Cr. Growth : 20% (20%) aggressively increasing their presence in the country. ï‚ ¨ The market is dominated by global brands like McDonalds, KFC and Dominos specially in the organized fast food segment. Growing trend of Unorganized Market, Rs.3 4400 Cr. (80%) Growth : 5-6% consumption of new cuisines and increasing brand awareness has led to the increase of global players. The new age Indian consumers have also played a QSR Market Rs.3000 Crores 7% significant role. ï‚ ¨ Organized modern formats like malls, multiplexes and Organized Restaurant Market (Except QSRs) Rs.5600 Crores 13% food courts have also become a favoured destination. Larger companies are teaming up with small franchisors to set-up their brand. ï‚ ¨ QSRs started with big metros, but are now building their presence in Tier 2 cities like Unorganized Restaurant Market Rs.34400 Crores 80% Pune, Ahmedabad, Chandigarh and Bangalore. Sources: www.nrai.org,, www.rncos.com Total Restaurant Industry Rs. 43000 Crore Market Segmentation 7 Restaurant Industry †¢Road-side location †¢No technical standards †¢No accounting standardization Unorganized Full-Service Restaurants QSRs Fine Dining Take-away Casual Dining Organized Home Delivery Eat-in Bars and Lounges †¢Accounting Transparency †¢Organized Supply Chain †¢Quality Control †¢Sourcing Norms †¢Multiple Outlets †¢Dominated by Global Players Kiosks/Carts Highest growth segment. Maximum Footfall due to increasing traffic at airports, railway stations, malls, multiplexes and supermarkets Growth Drivers 8 25% of population eats out at least twice a month and spends Rs.150-Rs.500 / meal Urbanization Youth Spending Expanding Middle Class 2% 11% Better logistics A younger and richer India is fuelling rapid growth in the eating-out segment 29% Affuent Upper Middle Class 300 million 29.5 % or 88.5 million Key consumption areas 2% 5% Total population of Gen Next (13-24 Age Group) Total population of Gen Next living in urban areas Household Distribution By Annual Income 1% Nuclear families Mall and Multiplex boom Clothing & accessories, Food, Entertainment and durables Spending Power Rs.3000-40000 per month †¢ †¢ Lower Middle Class 86% 64% Bottom of the pyramid Urban youth behaviour †¢ †¢ 2010 2020 Sources: Marketing Whitebook 2011-12, Economic Times, MGI Socially active Hangs out at coffee shops and malls Prefers to be seen at the right places Expresses one‟s identity through choice of brands consumed Maintaining Consistency in product and quality of service are the biggest challenges faced by QSRs 9 Challenges Demand Side Supply Side Health and hygiene concerns among buyers Maintaining Quality of Service Acquiring Key Talent Building a costeffective supply chain QSR customers are very easy to sell to, but also very easy to lose Localization of Menu Managing high attrition rate amongst junior level employees Establishing a supply chain in a new region Beating local competition Standardization of product across outlets Low entry barriers Monitoring multiple outlets Reducing service time – efficient assembly line Talent Supply Chain Monitoring quality of products procured from third parties SWOT Analysis 10 STRENGTH OPPOTUNITIES †¢ Burgeoning middle class †¢ Risk-sharing in a franchise based model †¢ Abundance of cheap labour in India †¢ Increase in malls and Positive multiplexes †¢ Increasing youth spending †¢ Urbanization WEAKNESS THREATS †¢ Sourcing Talent †¢ Food Inflation †¢ Monitoring franchisees †¢ Product imitation †¢ Maintaining quality standards across outlets †¢ Understanding Indian tastes Internal Factors †¢ Price Competition †¢ Dependency on third parties †¢ Local Competition External Factors Negative Urban Youth Make Up The Prime Target Audience 11 Particulars Low Cost in terms of initial investment as well as operating cost Target Audience Profile Category Young Urban Professionals on the move Low Risk Key Features of a QSR Teenagers High Impulse products Students Best Retail Locations Multiplex audience Competitive Prices Shoppers Target Audience Behaviour Age group 16-35 Hygiene & Taste conscious Location Cities and towns Social Class Middle and Upper Middle Class Lifecycle Dependent and Pre-Family* Brand conscious Westernized culture Seeking international standards Value seekers Experimental *based on Sagacity Lifestyle Model 12 Working of a QSR Brand Image, Ambience and Overall Experience are important intangible factors for QSR customers 13 ï‚ ¨ A QSR is meant to create instant interest in the mind of the consumer. It has to have ï‚ ¤ Intangible parameters that make a QSR successful Mass appeal Brand ï‚ ¤ ï‚ ¤ A unique experience ï‚ ¤ ï‚ ¨ A characteristic ambience A strong brand identity One cannot find Ronald at any other burger joint except McDonalds. ï‚ ¨ The service, which is the only human touch, plays a big role in creating a unique experience. A lot of time and resources are spent on training the staff ,as they represent the brand. KFC employees are expected to live up to their 3 F‟s to create to perfect environment – Fun, Friendly and Familiar. ï‚ ¨ In an effort to maintain the same experience across outlets, the service, interiors and menu items are standardized . Experience Ambience QSR Formats and Locations 14 QSR FORMATS LOCATIONS Malls Restaurants Tourist hubs Food Court Counters Corporate hubs Kiosks/Food Carts Take-away/Delivery Drive-ins Shopping Centers Multiplexes Airports/ Railway Stations Setting up a Franchise Outlet 15 Initial Qualification †¢ Application Review †¢ Background and Credit Check †¢ Assess training needs †¢ Signing of Franchise Disclosure Document †¢ Verify Assets Site Registration †¢ Franchisor sends site registration to brand for approval †¢ Franchisee remits funds Operation Plan Site Exploration and Securing Control †¢ Prospective franchisee makes an operation plan which is reviewed thoroughly Franchise Onboarding †¢ Franchisee arranges for Financing †¢ Hires a Team †¢ Franchisor provides Support and Training †¢ Builds Restaurant †¢ Supports in Grand Opening †¢ Determine Site Selection Strategy †¢ Identify focus areas †¢ Franchisor completes Action Plan for Trade Area †¢ Franchisee negotiates for the site and sends letter of intent Franchisor’s Role after the launch †¢ On-site Training is provided for every procedure. †¢ The Franchisor has an approved vendor list from where the ingredients can be sourced. †¢ They have an annual promotional and advertising plan that they implement with the support of the franchisees. †¢ Quality checks are conducted via Consumer Feedback, Food SafetyAudits and Standard Audits Managing Human Resources 16 ï‚ ¨ Acquisition When QSRs come to India, they find it difficult to get experienced talent for Human Resource Tree at at a typical QSR outlet strategic positions. There are very few people with relevant experience, Restaurant Manager especially in a global firm. Poaching employees from competitors would mean huge incentives and salary raises. Thus a lot of companies hire people in the same function but from a different industry. ï‚ ¨ First Asst. Manager Support & training The franchisors offer support and training to the franchisees for effectively Trainee Manager running the small format franchise business. Training is conducted at 3 stages: ïÆ'Ëœ Induction ïÆ'Ëœ On-going ïÆ'Ëœ Refresher ï‚ ¨ Retention Trainee Floor Manager Out of 10000 emloyees, KFC has to replace 7000 employees each year. This means cost for fresh recruitments, training and relieving employees is very high. Dominos has increased salaries of store front employees by 20% and implemented an incentive plan in order to reduce attrition rate. Training Squad Crew Member Second Asst. Manager Marketing Strategies 17 ï  ± QSRs have to play on their strengths to create and communicate a brand promise. ï  ± The brand promise can be anything from fast service to low prices to healthy food. ï  ± Successful QSR chains have been able to take their brand promise very effectively to the masses. 1 †¢ A large burger chain targeted the value seeker community and created highest value for money as its brand promise. 2 †¢ India‟s largest Pizza chain targeted the customers who wanted fast service at their doorsteps. It created the brand promise of assured fast delivery and communicated it with its â€Å"30 mins or its free† campaigns 3 †¢ A large coffee shop chain wanted to position itself as not just a coffee shop but a place to hangout with friends and family. They marketed themselves with the tag line â€Å" A lot can happen over coffee† which clearly communicated that they wanted their customers to have a complete experience much beyond just coffee. Pricing Strategies 18 ï  ± Its important for QSRs to price their products carefully because of the stiff competition that they face. ï  ± The strategy is to price their products in such a way that the maximum number of customers can be retained and at the same time higher margins are abstracted from the customers who do not mind paying more for extra value. This is achieved by: DIFFERENTIAL PRICING Pricing the base product aggressively and keeping higher margins on the side orders This strategy is for the price conscious consumer who sees great value in the base product and can choose to not take the side orders At the same time it allows the QSR to charge the customer for whom price does not matter, much more through the high margin side orders Most QSRs keep fighter brands in their menu to remain competitive. VALUE PRICING Value combos allow the QSR to sell more no of high margin products with the low margin base products. Eg: QSRs try to sell more French fries and cold drinks through their value meals. Pizza chains sell more garlic bread and cold drinks through their value meals Growth Strategies of QSRs 19 A large burger chain in India has the highest foot fall amongst all countries, but the lowest average bill. Growth in India is achieved based on volumes, hence every QSR is looking to expand its presence . A coffee trading company who supplies coffee beans, started a retail business of coffee shops all over India. Forward Integration A casual restaurant chain diversified into food court stalls., thus entering the QSR market. Horizontal Diversification A coffee shop chain diversified its coffee shops business by establishing express outlets and coffee machines. Concentric Diversification A soft drink giant branched out to form a new company with Pizza and Fried Chicken chains in its umbrella. It sold off its stake, but is in a lifetime contract with the firm Lateral Diversification Menu Planning 20 Menu Selection is critical, especially when localizing in markets like India and China where traditions, religion and local taste are cannot be ignored. Enlisted below are some of the important factors: Size of outlets Target in terms of demographics Local taste preference †¢ QSRs do not keep the full menu at all outlets. †¢ Instead they include only a few high volume products at outlets with space limitations like food courts and express kiosks †¢ Depending upon the age group they are targeting, QSRs have to adjust their menus. †¢ QSRs targeting older age groups have to include healthier and more traditional food items in their menus where as QSRs targeting the youth can have more experimental and/or fast food items. †¢ Product adaptation according to customer preferences is really important for QSRs to succeed. †¢ International chains in India have to adjust their menus to include more vegetarian and spicy items. A Fried Chicken brand has the most extensive range of items in India amongst all its worldwide outlets †¢ Most QSR giants avoid using beef and pork due to cultural taboos. The 4 pronged approach to ensure standardization across all outlets 21 Standardized aspects of every outlet There are 4 important factors that enable standardization for a restaurant with multiple outlets: Training Equipment †¢Every new employee has to go through a specific pre-designed training program for that level of employment. Recipes Procurement of Products †¢The same machines are used by all outlets for making the  dishes. Standard recipes have to be followed by the chefs who receive thorough training for the same. †¢QSRs have centralized approved vendors from where they  procure and process raw materials. They also procure finished products like spices and condiments from the same vendor and distribute it. Case Study – Dominos India 22 60 9000+ 400 364 9000 Jubilant Foodworks Ltd. operates the 364 Dominos international markets outlets in India, pursuant to a Master Franchise Agreement International, which operate Domino’s pizza delivery stores and the associated trademarks in the operation of stores in India, Nepal, Bangladesh and Sri Lanka. The pizza million pizzas sold each year employees in India Domino’s provides them with the exclusive right to develop and outlets worldwide outlets in India with stores in Sri Lanka are operated by their subfranchisee, DP Lanka. It is the largest Pizza chain in India, way ahead of its immediate competitor Pizza Hut with 50% of market share in the Indian Pizza market and 70% market share in the home delivery market. Source: dominos.com, dominos.co.in, reuters.com Case Study – Dominos India 23 Particulars Market share in the Indian Pizza market – 50% Market share in the home delivery segment –70% Sales Per Day Per Outlet Rs.56600 80% of their sales come from the Pizza segment, and EBIDTA margin (9M FY2011) 18% the remaining is attributed to beverages and side items. Same Store Sales Growth (9M 38.7% 80% of sales come from home delivery and 20% from 65% FY2011) Market Share OTC sales. Sales Break-up: Cuisine-wise 4% Sales Break-up: Segment-wise 20% 16% Pizzas Home Delivery Beverages Over-the-Counter Others 80% 80% Source: indiainfoline.com, dominos.co.in Critical Success Factors of Dominos India 24 Critical Success Factors 1. Delivery-oriented model reduces cost 2. Dominos has a vertically integrated supply chain. (as seen below) 3. Franchising model Supply Chain of Dominos Regional warehouse Raw Material Supplier (Approved vendor) Regional Centralized Facilities for processing raw material like dough – 4 centres across India Refrigerated trucks carry the finished items to retail outlets Retail Outlets Items are prepared based on orders and sent to end consumer 25 Key Players‟ Profiles Key Player Profiles 26 Name Cuisine Parent Company/ Master Franchisee Origin Location Formats Outlets Expansion Plans in India McDonalds Burgers Hard Castle Restaurants Pvt. Ltd USA PAN-India Dine-In, Food Courts, Drive-in 210 To add 20-25 outlets by 2013 KFC Fried Chicken Devyani International Ltd. USA PAN-India Dine-In, Food Courts 110 500 outlets by 2015 Chicking Fried Chicken Mirah Group UAE South Zone Dine-In 14 – Bangs Fried Chicken Fried Chicken Bangs India India South Zone Dine-In, Food Courts 7 100 outlets by FY2011 Pizza Hut Pizzas Devyani International Ltd. USA PAN-India Dine-In 171 300+ outlets by 2015 Dominos Pizzas Jubilant Foodworks USA PAN-India Dine-In, Delivery , Food Courts 364 To add 70 outlets in 2011 Papa Johns Pizzas Om Pizzas& Eats USA West Zone Dine-In 25 – Pizza Corner Pizzas Global Franchise Architects India South Zone Dine-In, Delivery 50 – US Pizza Pizzas United Restaurants Ltd. India PAN-India Dine-In, Delivery 77 – Smokin‟ Joes Pizzas Smokin‟ Joes Pizza Pvt. Ltd. India PAN-India Dine-In, Delivery 52 – Garcia‟s Pizzas Garcias Famous Pizza India West Zone Dine-in, Delivery 20 To add 20 outlets Slice of Italy Pizzas Green House & Hestoft Foods Pvt. Ltd. India North Zone Dine-In, Delivery 16 – Key Player Profiles 27 Name Cuisine Parent Company/ Master Franchisee Origin Location Formats Outlets in India Expansion Plans in India Barista Coffee Shop Barista Coffee Company Ltd. India PAN-India Espresso bars, High end cafes 230 – Costa Coffee Coffee Shop Devyani International Ltd. England PAN-India Cafes 75 300 outlets by 2014 CCD Coffee Shop Amalgamated Bean Coffee Trading Co. India PAN-India Cafes, Mall & Airport kiosks, Office outlets 1090 To add 200+_ outlets by 2014 Gloria Jean‟s Coffee Shop Citymax Hospitality Australia Metros Cafes 15 40 outlets by 2012 Kent‟s Fast Food Burgers Kents Fast Food India North Zone Dine-In 15 – Subway Submarine Sandwiches Subway Systems India Pvt. Ltd. USA PAN-India Dine-In, Food Courts 200 250 outlets by end of 2011 Tacobell Tex-Mex Yum Restaurants USA Bangalore Dine-In 3 100 outlets by 2015 Falafel Veg. Hummus House Lebanese Mirah Group India Mumbai Dine-In, Kiosks 8 100 outlets by 2011 Wimpy Burgers Famous Brands Ltd. UK Delhi Dine-In 3 – Yo! China Asian Moods Hospitality Pvt. Ltd Delhi, India PAN-India Dine-In, Kiosks 80+ – Key Player Profiles 28 Name Cuisine Parent Company/ Master Franchisee Origin Location Formats Outlets Expansion Plans in India Dosa Plaza South Indian Prem Sagar Dosa Plaza Pvt. Ltd. Mumbai, India PAN-India Dine-In, Food Court 35 – Jumboking Vadapav Jumboking Foods pvt.ltd. Mumbai, India West Zone Express, Restaurant & Takeaway 43 250 outlets by 2011-12 Kaati Zone Mughlai East West Ethnic Foods Pvt. Ltd. Bangalore , India South Zone Dine-In 15 – Mast Kalandar Indian Spring Leaf Retail Pvt. Ltd. Bangalore , India South Zone Dine-In 21 – Nirula‟s MultiCuisine Nirula‟s Corner House Pvt. Ltd. Delhi, India North Zone Dine-In, Kiosks 80+ To add 50 outlets by 2012 Kailash Parbat MultiCuisine Kailash Parbat Restaurants Pvt. Ltd. Mumbai, India PAN-India Food Court Stalls 15+ – Comesum MultiCuisine RK Group Delhi, India PAN-India Dine-In, Delivery 11 – Haldiram‟s MultiCuisine Haldiram Snacks Pvt. Ltd. Delhi, India North Zone Dine-In 18 – Bikano Chat Cafe MultiCuisine Bikanervala Foods Pvt. Ltd. Delhi, India North Zone Restaurant, Institutional Tuck Shops, Food Cart 68 – Sagar Ratna MultiCuisine Sagar Ratna Hotels Pvt. Ltd. Delhi, India North Zone Dine-In, Food Court 53 – Tibbs Frankie Frankie J.Tibbs & Co. Mumbai, India West Zone Kiosks 20+ Key Players‟ Segmentation 29 Segmentation based on Size of the Chain Local Chain Jumboking National Chain International Chain Segmentation based on Cuisine Pizzas Burgers & Sandwiches Coffee Shops Indian Specialty Cuisine Dominos McDonalds CCD Comesum Jumboking Pizza Hut KFC Barista Sagar Ratna Yo!China Pizza Corner Wimpy Costa Coffee Kailash Parbat Tabobell Papa Johns Subway Gloria Jeans Mast Kalandar Falafel Pizza Hut Smokin Joes Kents Fast Food Kaati Zone Tibbs Frankie Barista Pizza Corner Garcia‟s Haldirams Haldiram‟s Cafà © Coffee Day Papa Johns Slice of Italy Nirulas Sagar Ratna Tibbs Frankie Tacobell US Pizza Bikano Chat Cafe Comesum McDonalds Nirulas Dosa Plaza KFC Mast Kalandar Kailash Parbat Subway Kaati Zone Yo! China Wimpy Garcia‟s Smokin‟ Joes Dominos Falafel‟s US Pizza Bang‟s Fried Chicken Bikano Chat Cafà © Costa Coffee Kents Fast Food Gloria Jeans Geographical Segmentation 30 PAN-India : International Cuisine McDonalds* NORTH ZONE Nirula‟s Haldiram‟s Bikano Chat Cafà © Slice of Italy Kent‟s Fast Food Sagar Ratna Wimpy PAN-India : Coffee Shops Gloria Jean* KFC* Costa Coffee* Subway* Barista Pizza Hut* Cafà © Coffee Day Dominos* US Pizza Smokin‟ Joes WEST ZONE Papa Johns* Garcia‟s Falafel Jumbo King PAN-India : Indian and Specialty Cuisine Dosa Plaza Comesum 65% of Dominos‟ revenues are contributed by the top 7 cities out of 70 cities it is present in. 50% of their outlets are in Maharashtra, New Delhi and Karnataka SOUTH ZONE Pizza Corner* Chicking* Tacobell* Kaati Zone Bangs Fried Chicken Mast Kalandar *International Brands Kailash Parbat Yo! China Tibbs Frankie Key Players‟ Positioning 31 PAN-India Ethnic Cuisine Ethnic Cuisine PAN-India Pizza Hut Dominos Comesum* Dosa Plaza* Kailash Parbat* Yo! China* Cafà © Coffee Day* Barista* Gloria Jeans Costa Coffee Sagar Ratna* Haldiram‟s* Mast Kalandar* Jumbo king* Kaati Zone* Bikano Chat Cafà ©* Nirula‟s* Zonal Tacobell Falafel Pizza Corner Papa Johns US Pizza* Smokin Joes* Slice of Italy* Garcias* McDonalds KFC Wimpy Subway International Cuisine Chicking Bang‟s Fried Chicken* Kent‟s Fast Food* Tibb‟s Frankie*International Cuisine Zonal *Indian originated chains Dominos and Cafà © Coffee Day are the largest QSRs in India in terms of reach and number of outlets 32 No. Of Outlets v/s Geographical Spread of Pizza Chains Pizza Chain Outlets Spread Origin Indian 52 PAN-India Indian 50 South Zone International 25 West Zone International 20 West Zone Indian Slice of Italy 16 North Zone Indian Chain Outlets Cities 1090 120 PAN-India Indian 364 87 PAN-India International McDonalds 210 45 PAN-India International Pizza Hut 171 34 PAN-India International Barista 230 30 PAN-India Indian Subway No. of Outlets PAN-India Dominos 115 77 Cafà © Coffee Day No. of Cities 65 International Garcias 15 PAN-India Papa Johns No. Of Outlets v/s No. of Cities of top brands in India 171 Pizza Corner 15 International Smokin Joes 5 10 Geographical Spread PAN-India US Pizza 0 364 Pizza Hut No. of Outlets Dominos 200 26 PAN-India International KFC 110 21 PAN-India International Spread Origin 33 Trends and Future Prospects Big brands – Small cities – Small formats 34 Locations Large chains expanding to smaller cities Domestic chains setting up in big cities Formats Cuisines Technology Express Outlets Basic street Foods entering organized market – Vadapav, Ice Gola Online ordering systems Smart Carts/Kiosks Regional cuisines– Kebab Lucknow Wale, Malwaneez IVR system for placing order and making payment via Credit Card Kiosks have managed to attract huge footfalls at sales points. Even big chains are now customizing their outlets to smaller models like „express‟ and „stand-ins‟ Integration of concepts – so Mcdonalds serves coffee and CCD serves sandwiches Menu diversification by introducing Indian flavours – Chicken TandooriSub at Subway Investors are queuing up to get a big slice of the pie 35 ï‚ ¨ With the number of QSRs growing at 30% per year, the industry is attracting investors‟ interest, especially after the IPO of Jubilant Foodworks, the master franchise of Dominos Pizza in India ï‚ ¨ ICICI Venture acquired 10% stake i.e. $55 Million in Devyani International who is the franchisee of KFC, Pizza Hut and Costa Coffee in India ï‚ ¨ Also Mast Kalandar, a Bangalore-based QSR chain, secured a second round of investment from Helion Venture Partners, Footprint Ventures and Salarpuria Group. ï‚ ¨ Chinese cuisine QSR Yo! China received funding of $5.5 Million from Matrix partners ï‚ ¨ Accel Partners invested in Bangalore-based fast food chain Kaati Zone. Source: vccircle.com QSR giants Dunkin Donuts and Starbucks set to foray into the Indian market 36 ï‚ ¨ ï‚ ¨ ï‚ ¨ Dunkin’ Donuts- Jubilant FoodWorks is to develop, sub-franchise, and operate more than 500 Dunkin‟ Donuts restaurants throughout India over the next 15 years. The first Dunkin‟ Donuts locations are expected to open by early 2012. The Agreement marks the largest international store development commitment in Dunkin‟ Donuts‟ history. Starbucks – Tata Coffee is to bring Starbucks , the world‟s largest coffee chain to India through a Joint Venture Quiznos – The US-based subway restaurant chain has signed a master franchise agreement with Arjun Valluri for setting up outlets in Southern India. Source: www.dunkindonuts.com, www.trak.in, U.S. Franchise Trade Mission Participants Profile, April 10-15 2011 Sources 37 Research firms ï‚ ¨ Technopak ï‚ ¨ IBEF ï‚ ¨ Marketing Whitebook 2010-11, 2011-12 ï‚ ¨ Mckinsey Global Institute ï‚ ¨ www.rncos.com ï‚ ¨ www.nrai.org Company Websites ï‚ ¨ www.yum.com ï‚ ¨ www.mcdonaldsindia.com ï‚ ¨ www.dominos.co.in Other websites ï‚ ¨ Hospitalitybizindia.com ï‚ ¨ Indiaretailing.com ï‚ ¨ Franchiseindia.com Newspapers ï‚ ¨ Deccan Herald ï‚ ¨ Economic Times ï‚ ¨ Business Standard ï‚ ¨ DNA 38 About D‟Essence Our Services 39 D‟Essence Hospitality is Boutique Management Consulting firm based in Mumbai which provides specialty consulting services for the entire spectrum of the hospitality industry with a special focus on hotel operators, builders and investors ï  ± Feasibility Studies ï‚ ¤ Management Model Viability ï‚ ¤ Technical Viability Economic and Financial Model Viability ï‚ ¤ ï‚ ¨ Market Viability Business Model Viability Exit Strategy Viability Site Analysis – We have vast experience in project planning & site selection. In many cases it has been seen that planners & architects normally look into a project from design and land-use perspectives. But we do detailed site and market analysis to determine the viability of the project from financial and investment standpoint. ï‚ ¨ India Entry Strategy – We help our clients to develop suitable market entry strategies through analyzing entry barriers (ease), geographical factors, incumbents‟ resistance and routs to market. ï‚ ¨ Management Contracts – Branded operators have very stringent clauses in the contracts. To deal with them needs deep understanding of the domain and effects of each clause on the profit margins. D‟Essence Hospitality Services makes full use of its expertise in understanding the management contracts and negotiating it for best acceptable terms. Our Services 40 ï‚ ¨ Key Recruitments D‟Essence Hospitality is dedicated to becoming India‟s leading executive search firm exclusively serving the Hospitality Industry. Our search team enables you to recruit for executive level management, divisional managers, general managers, culinary, finance, sales and marketing, food and beverage, engineering professionals who will all, directly affect and drive the profitability of your organization ï‚ ¨ Acquisitions From our years of experience, we advise our clients on which assets to buy and when to buy and based on our recommendations they devise strategies for buying assets. We also provide assistance to our clients to develop assets disposal strategies in order to maximize project performance ï‚ ¨ Business Model and Business Plan We assist our clients in the business planning process and then prepare a plan based on the available resources and their business objectives. Our Business Planning services include feasibility studies, business formation plans, strategic plans, new product plans, marketing and promotional plans, etc. ï‚ ¨ Fund Raising ï‚ ¨ Mentoring ï‚ ¨ Growth Strategy THANKYOU D‟Essence Consulting 303, Aar Pee Center, 11th Road, Gufic Compound, MIDC, Andheri (E) Mumbai- 400093 Tel +91 22 28347425 www.dessencehospitality.com

Money Can Not Buy Happiness Essay

Do you believe that your income is the main factor in determining your happiness? It is a classic debate that has reached its tentacles into the minds of our nation’s individuals and wrapped itself firmly around their minds having them strive for happiness. Money does not buy happiness. Too many Americans are so blinded by their own ignorance that they constantly pursue happiness as if it was a matter of circumstance rather than their own perspective. Such a way of life is crippling to those individuals because they miss the plethora of opportunities for happiness that surrounds them in every way of life. Today, more and more people argue that money can buy happiness. Proponents of such a viewpoint often argue that money â€Å"makes the world go ‘round†. They may argue that it allows us to have carefree lives because we don’t have financial strain with money. They may argue that it gives people the ability to buy whatever they may want and that causes us to be pleased with our purchase. They may even argue that money allows one to be charitable to others. Those who make these arguments have the wrong perspective of the world. Those who argue that many buys happiness and those who live their lives in such a manner can never really attain true happiness. Clearly, these people who are striving to make money are really just striving to be happy. They dedicate their lives to being happy and thus place very significant value on being happy. One study attempted to determine the paradoxical effects of valuing happiness. It concluded, â€Å"valuing happiness could be self-defeating, because the more people value happiness, the more likely they will feel disappointedâ€Å" (Savino et al. 807). Furthermore, those that argue that happiness allows us to live carefree lives by removing the burden of financial strain need to change their  perspective in order to truly be carefree. People living life in such a manner are never truly carefree because they constantly have the stress on them to be making more money in order to live a carefree lifestyle. Such a conditional â€Å"happiness† is not truly carefree. Rather than living life in such a manner, people should remove the excessive stress of making money and appreciate their own respective situations. That certainly beats caging the circumstances under which they can thrive and be happy to only being included in a specific income bracket. Basically, put less value on how you regard happiness. â€Å"Valuing happiness may lead people to be less happy just when happiness is within reach† (Savino et al. 807). Individuals who believe that money can buy them happiness may believe that money allows them to buy certain objects or allows them to have certain experiences that allow them to be happy. However, one study showed, â€Å"†¦ that happiness seekers voluntarily choose to practice up to eight happiness strategies at a time suggests that by experience or instinct they have discovered a successful approach to the pursuit of happiness† (Lyubomirsky et al). However, there was little correlation between the application of these happiness seeking strategies and an actual real-world application’s effect on a boost in well being (Lyubomirsky et al). There is close to no correlation between activities or objects that â€Å"happiness-seekers† seek to buy and their own happiness. Rather than believing you can buy happiness with your money, one should perhaps try helping an old lady cross the street. The good feeling in your belly after such a kind and gracious act is true happiness. Raymond Angelo Belliotti argues that, â€Å"†¦leading a robustly meaningful, valuable life merits worthwhile happiness. But worthwhile happiness does not automatically follow from such a life. If we must choose, a robustly meaningful, valuable life is preferable to a merely happy life†¦Ã¢â‚¬  (Belliotti). I completely agree with Mr. Belliotti. However, I believe that placing value and finding meaning in all that we do will correlate to a happy life. Finding meaning in what we choose to do can be the true pursuit of happiness that attains happiness. Thus, it is the pursuit of meaning and value rather than a pursuit of money that gives one happiness. Throughout history, the adage that money does buy happiness has been disproven. If this argument was true, then the argument would be made that serfs, peasants, and all poor or financially unprivileged individuals throughout history were unhappy. However, when put it such a broad context, that argument seems ridiculous. Throughout all of history, individuals found happiness in love, their families, their religions, their surroundings, their countries, etc. Uncivilized human beings who had no concept of money probably found much more happiness in all that they did because they lived without the shackles of the concept of money. One fascinating study was conducted that may silence those who believe money can buy happiness forever. â€Å"This study provides the first evidence that money impairs people’s ability to savor everyday positive emotions and experiences. In a sample of working adults, wealthier individuals reported lower savoring ability (the ability to enhance and prolong positive emotional experience). Moreover, the negative impact of wealth on individuals’ ability to savor undermined the positive effects of money on their happiness† (Mikolajczak, et al). This study clearly demonstrates the inability to have a prolonged positive emotional experience in wealthier individuals. This study literally states that money cannot buy happiness in other words. Furthermore, it goes on to say that those who have money actually tend to be less wealthy. This study gives evidence that could give so many people so much happiness if they applied it to themselves and stopped believing that money could buy happiness. The individuals who argue for the idea of money buying happiness may argue that money allows individuals to be more charitable and therefore allows individuals more happiness through their charitable work. Certain wealthy individuals like Bill Gates even has his own charity, which truly does magnificent work and helps the world. However, people are not all as privileged as Bill Gates. Individuals who have less money can still be incredibly charitable and save many lives. For example, thinking outside the box, volunteering at homeless shelters, helping the elderly, helping individuals around you in need on a daily basis, planting trees, etc. all  have great benefits and can help the lives of many people! All you really need to do to be charitable is ask yourself what it is that interests you and put your efforts into pursuing that charitable task! In conclusion, money simply does not buy anyone happiness. Happiness is a result of our perspective and how we see the world around us. People have found happiness is the worst circumstances imaginable. Many stories are told of those who survived the holocaust who put all their efforts into finding some piece of beauty around them in order to be happy. Something as simple as appreciating the sunrise can make someone happy. Happiness is not limited to high net worth individuals. Happiness is not reserved for the people who have money. Happiness is a human emotion and experience that is engrained into who we are as living creatures. Living things all around us experience happiness. My dog literally does not have a penny to his name (unless he has been stashing hundred dollar bills that I am unaware of), and literally is one of the most joyful things when he is taken to the park to run around with his owner and the other dogs. Happiness surrounds us in everything we do, it permeates every situation, money does not buy it; it is only attainable when you realize it was always there in the first place. Just reach out and grab it. Works Cited Belliotti, Raymond Angelo. â€Å"The Seductions Of Happiness.† The Oxford handbook of happiness. 291-302. New York, NY US: Oxford University Press, 2013.PsycINFO. Web. 1 July 2013. Moà ¯ra Mikolajczak, et al. â€Å"Money Giveth, Money Taketh Away: The Dual Effect Of Wealth On Happiness.† Psychological Science (Sage Publications Inc.) 21.6 (2010): 759-763. Academic Search Complete. Web. 16 July 2013. Nicole S. Savino, et al. â€Å"Can Seeking Happiness Make People Unhappy? Paradoxical Effects Of Valuing Happiness.† Emotion 11.4 (2011): 807-815.PsycARTICLES. Web. 1 July 2013. Sonja Lyubomirsky, et al. â€Å"Pursuing Happiness In Everyday Life: The Characteristics And Behaviors Of Online Happiness Seekers.† Emotion 12.6 (2012): 1222-1234. PsycARTICLES. Web. 1 July 2013.

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