Tag: best F&B franchise India

The Best Franchise Opportunities Above ₹50 Lakhs in India’s F&B Sector

Post author By Shourya Jain
Post date May 16, 2025
No Comments on The Best Franchise Opportunities Above ₹50 Lakhs in India’s F&B Sector

India’s food and beverage (F&B) franchise market is scaling rapidly, poised to hit ₹6.5 lakh crore by FY2025. Investors seeking structured, scalable business models are now eyeing mid-to-premium franchises in the ₹50 lakh–₹2 crore range. These brands balance solid top-line potential with predictable unit economics and defined operational support systems. BBFT has curated a definitive list of franchise opportunities for investors seeking growth-ready, data-backed F&B ventures. Below are the standout concepts from BBFT’s portfolio and the wider industry that promise profitability, brand recall, and long-term value.

ATE (Altogether Experimental)

ATE transforms the café model into a creative community hub, rotating 20–30 percent of its menu seasonally—from Choccy Chip Banana Bread Pancakes to Soba Noodle & Teriyaki Bowls—within Instagram-worthy Santorini-inspired interiors . Co-founded by restaurant consultant Vicky Mandal and pastry chef Anukriti Anand, ATE focuses All day brunch, with Modern coffee paired with Freshly prepared desserts

Metric	Boutique	Flagship
Investment	₹70–80 L (1,000 sq ft)	₹1–1.25 Cr (1,800+ sq ft)
Payback	~18-24months	~24 – 30 months
ROI	40–45 percent	60–65 percent
AOV	~₹1,000	~₹1,000
Footprint (NCR)	2 Live outlets + 2 in pipeline	2 Live outlets + 2 in pipeline

Tan Coffee

Tan Coffee, launched in Hauz Khas in 2018 by Nishant Mittal and Shivank Verma, scaled from 3 to 11 outlets in 1.5 years by pairing specialty coffee with in-house Continental, Italian, and Mexican menus—achieving 25–30 percent EBITDA and ₹950–1,000 AOV across Delhi, UP, Hyderabad, Raipur, and Punjab .

Metric	Value
Investment	₹75–80 L
Payback	~24 months
EBITDA Margins	25–30 percent
AOV	₹950–1,000
Footprint (NCR)	11 live outlets; +4 pipeline
Royalties	Profit Share

Café Wink

Since 2011, Café Wink’s curated Italian menu (crepes, coffees, desserts) and “Best Instagram-Worthy Café” accolades have driven ~₹7 Cr annual revenue per outlet, coupled with 50 K Instagram followers and a 4.4 Zomato rating .

Metric	Value
Investment	₹1.5–2 Cr
Payback	18–24 months
ROI	EBITDA-sharing FOCO model
AOV	₹1,300–1,500
Footprint (NCR)	1 live (Anand Vihar); +3 pipeline

Wakhra Swaad

Founded in 2016 by Chef Arjun Thakkar and Ravi Bajaj, Wakhra Swaad brings Punjabi dhaba classics to Delhi diners with modern operational rigor, achieving 40–50 percent annual ROI on ₹80–90 L investment .

Metric	Value
Investment	₹80–90 L
Payback	18–24 months
ROI	40–50 percent p.a.
AOV	₹700–2,500
Royalties	9–10 percent
Footprint (NCR)	4 COCO + 1 FOFO outlets

Indus Flavour

Since 2011, Indus Flavour’s pure-vegetarian, Indo-fusion menu—dishes like Butter Paneer Pizza—has driven youth and family dining in GTB Nagar and Pitampura, with multiple NCR outlets and pan-India expansion plans .

Metric	Value
Investment	₹2–2.5 Cr (₹40 L franchise fee)
Payback	18–24 months
ROI	40–45 percent
AOV	₹400–500
Footprint (NCR)	Multiple outlets (GTB Nagar, Pitampura)

Cafeteria & Co

Cafeteria & Co’s 4,000–5,000 sq ft “flavour-packed” cafés offer fusion crepes, pizzas, and desserts in Delhi’s premier malls, commanding ₹500–600 AOV per visit .

Metric	Value
Investment	₹4–5 Cr (₹40 L fee)
Payback	12–24 months
ROI	EBITDA-sharing FOFO model
AOV	₹500–600
Footprint (NCR)	5 FOFO outlets (Connaught, Select Citywalk)

Echoes

Echoes, operated by deaf and mute staff, pairs social impact with global-fusion comfort food in 1,200 sq ft+ cafés, targeting ₹300–400 AOV from Delhi’s socially conscious diners .

Metric	Value
Investment	₹50–80 L
Payback	18–24 months
ROI	EBITDA-sharing FOFO model
AOV	₹300–400
Footprint (NCR)	Planned GK & Hauz Khas

Dhaba Estd. 1986

With 22 outlets across Delhi NCR—including Vasant Kunj and Promenade Mall—Dhaba Estd. 1986 delivers Punjabi highway classics (Butter Chicken, Dal Makhani) in modern 2,000–3,000 sq ft venues .

Metric	Value
Investment	₹1–2 Cr
Payback	12–24 months
ROI	EBITDA-sharing FOFO model
AOV	₹300–400
Footprint (NCR)	22 outlets

Your Next Step

Each of these ten concepts offers a differentiated consumer proposition—from experimental cafés to heritage dhabas and social‑impact coffee roasters—backed by BBFT’s decade of franchising expertise. By pairing clear operational models (FICO, FOFO, FOCO) with strong financial returns, these franchises represent the best mid‑ticket opportunities in India’s vibrant F&B landscape.

Ready to find your perfect franchise match? Connect with BBFT for personalized territory analyses, P&L models, and end‑to‑end support—ensuring your ₹50 lakh+ investment is primed for success.

Tags Affordable Franchise, ATE, BBFT, best F&B franchise India, BuildingBrandsFortomorrow, Foodfranchise, Franchise, franchise under 50lacs, mid range franchise, Tancoffee

Industry Story

Inside the Rise of Meghana’s Biryani: India’s Biryani Boom Explained

Post author By Shourya Jain
Post date May 12, 2025
No Comments on Inside the Rise of Meghana’s Biryani: India’s Biryani Boom Explained

Biryani is not just a dish; it’s a national obsession. Across India, it’s the go-to comfort food, the centerpiece of gatherings, and a favorite takeaway. In 2023, biryani was once again crowned as the most-ordered dish on both Swiggy and Zomato, with over 190 biryanis ordered every minute across both platforms. This marks yet another year where biryani has retained its title, dominating the food delivery ecosystem for the ninth consecutive year.

In a booming market where India’s biryani industry is valued at ₹30,000–₹38,000 crore and growing at 11% CAGR, Meghana’s Biryani stands tall as one of the biggest success stories. Founded in 2006, Meghana’s has transformed from a humble restaurant in Hyderabad to a market leader with over 50 outlets in South India. This post dives into the rise of Meghana’s Biryani, breaking down its strategies, financials, and the key ingredients that have fueled its growth.

India’s Biryani Market: A Golden Opportunity

Market Size and Growth

India’s biryani market is showing explosive growth. According to recent industry reports, the biryani market’s total value has reached ₹30,000–₹38,000 crore in 2023, a significant rise from ₹28,000 crore in 2022. The market is projected to grow at 11-12% CAGR through 2025, driven by rising urbanization, changing food habits, and a growing preference for delivery-based dining.

In 2022, delivery platforms like Zomato reported a record of 186 biryanis ordered every minute, while Swiggy followed closely with 2.5–3 biryanis ordered every second. This indicates that biryani is not just a favorite, but a dish that has captured the hearts and stomachs of millions across India. What’s even more striking is the organized segment’s growth—branded biryani chains now contribute 12-15% to the overall biryani market, and this share is set to grow even further as consumers seek consistent quality and quick delivery.

Inside the Rise of Meghana’s Biryani: India’s Biryani Boom Explained

Origins and Early Days

Meghana’s Biryani was founded in 2006 by Rambabu Mandava and Padma Atluri in Hyderabad. They set out to create a distinct Andhra-style biryani, which quickly gained popularity for its unique blend of spices, rich flavor profile, and the authentic dum-cooking method. Over the years, Meghana’s has built a loyal following with its consistent taste and deep focus on quality, which has been key to their success.

From a single outlet, the brand has expanded rapidly, with 50+ outlets spread across South India, including locations in Bengaluru, Chennai, and Hyderabad. What sets Meghana’s apart from its competitors is its focus on quality consistency, customer service, and its innovative approach to delivering an exceptional biryani experience.

Meghana’s Financial Growth and Metrics

Meghana’s Biryani has experienced impressive financial growth over the years. As of 2023, the brand’s annual revenue stands at approximately ₹11 crore, driven largely by strong sales from its outlets and consistent customer retention. The average Order Value (AOV) at Meghana’s Biryani is ₹250–₹300 per plate, which is approximately 20% higher than the average AOV of competitors in the organized biryani segment.

Revenue Growth: From ₹6 crore in 2019 to ₹11 crore in 2023, with a 22% YoY growth over the past five years.

EBITDA Margin: Meghana’s maintains an EBITDA margin of 28-32% at the unit level, driven by low overhead costs and strong operational efficiencies.

Payback Period: The average payback period for Meghana’s outlets is 18-24 months, with an IRR of 25-30% for its business operations.

Expansion Strategy

The brand’s growth has been strategic, focusing on the following pillars:

Centralized Kitchen Model: Meghana’s uses a centralized kitchen in Hyderabad to maintain consistency across its outlets. This facility handles the marination, preparation, and blending of spices for biryani, which are then distributed to the individual outlets for final cooking.

Geospatial Site Selection: Meghana’s expansion strategy is data-driven, focusing on high-footfall areas like IT parks, malls, and commercial complexes. They have leveraged geospatial analytics to select locations that promise high revenue and low operating costs.

Delivery & Customer Experience

Meghana’s has made significant investments in ensuring the delivery experience is as consistent as the in-store dining experience. The brand has partnered with major delivery platforms like Swiggy and Zomato to ensure its biryanis reach customers while retaining the flavor and aroma. Special insulated packaging and vented lids have ensured that their biryani remains fresh during the delivery process. This attention to detail has resulted in a 4.5-star average rating across major delivery apps.

The loyalty program introduced in 2022 has seen a 45% increase in repeat customers, contributing significantly to its bottom line.

What’s Driving the Biryani Boom?

1. Quality & Consistency

Meghana’s success lies in its consistent product. From the masala blend to the quality of meat and rice, every element is standardized across all outlets. Meghana’s has created an operational backbone that ensures every biryani tastes the same, no matter which outlet a customer visits.

2. Delivery-First Model

With the rise of food delivery apps, Meghana’s has capitalized on the growing trend by offering a seamless delivery experience. The brand has been proactive in adopting technology that improves its operational efficiency, including advanced inventory management systems and order-routing software.

3. Community Engagement

Meghana’s has also built strong ties within the local community. They often host “Biryani for a Cause” campaigns, donating unsold biryanis to the less fortunate. This kind of CSR initiative not only enhances brand goodwill but also engages customers on a deeper, emotional level.

The Future of Meghana’s Biryani and India’s Biryani Market

As Meghana’s Biryani scales, it continues to innovate. The brand is working on introducing new biryani variants, including Paneer Biryani and Vegan Biryani to cater to the growing demand for plant-based food options. With an eye on Tier 2 and Tier 3 cities, Meghana’s Biryani plans to double its footprint over the next five years, leveraging the growing trend of cloud kitchens and dark kitchens.

The biryani segment in India is on track to grow at an 11% CAGR, with total sales projected to cross ₹40,000 crore by 2027. With this growth trajectory, Meghana’s Biryani is well-positioned to remain at the forefront of India’s evolving food landscape.

Conclusion

Meghana’s Biryani’s growth story is a testament to the power of authenticity, consistency, and strategic growth in the food industry. With a robust expansion plan, an unwavering commitment to quality, and a market increasingly inclined towards delivery-first brands, Meghana’s Biryani is primed to continue its rise.

For food entrepreneurs and investors, Meghana’s journey underscores the enormous potential within the biryani segment—a market that continues to grow in both organized and unorganized segments. As biryani remains a firm favorite among Indians, Meghana’s Biryani offers valuable insights into building a successful food brand in a competitive industry.

Tags Affordable Franchise, BBFT, best F&B franchise India, Biryani, BuildingBrandsFortomorrow, Foodfranchise, Franchise, Meghanabiryani

Industry Story

Franchise Agreement Template: FICO, FOFO, FOCO

Post author By Shourya Jain
Post date May 9, 2025
No Comments on Franchise Agreement Template: FICO, FOFO, FOCO

Choosing Your Franchise Model: FICO, FOFO & FOCO

India’s franchising boom (projected to reach ₹2 lakh crore by 2027 ) hinges on clear agreements. Three models—FICO, FOFO, and FOCO—define who invests, who runs operations, and how profits flow. Selecting the right structure aligns your investment appetite and operational involvement with sustainable returns.

1. Investment & Fee Structure

FICO (Franchise Invested, Company Operated)
Investors inject capital (e.g., ₹50 lakh – ₹1 crore for an F&B outlet) and earn a fixed return—typically 8–12 % of gross sales —with all the management to be taken care by the franchisor. There are no royalties; instead, you benefit from a revenue‐share clause legally drafted to specify payment timing and audit rights.

FOFO (Franchise Owned, Franchise Operated)
Entrepreneurs pay an initial fee (₹5–15 lakh) and royalties (5–8 % of net sales), plus a 1–2 % marketing fund contribution . In return, you control the P&L and capture upside beyond royalty costs, making this ideal for hands‐on operators.

FOCO (Franchise Owned, Company Operated)
You fund the fit‐out capex but delegate operations to the franchisor. Costs include a management fee (3–5 % of revenue) and profit‐split (eg. 50/50 after a hurdle rate) —a blend of real‐estate investment and passive income.

2. Operational Control

In FICO/FOCO, the franchisor handles staffing, procurement, and training under a Service Level Agreement that details performance metrics, staffing ratios, and supply‐chain standards . You receive periodic dashboard reports and have veto rights over major capital items.

Under FOFO, the franchisee runs the outlet day-to-day, subject to audits (weekly mystery shops, monthly financial reviews) and strict SOPs on food quality, customer service, and hygiene .

3. Territory & Expansion

Territorial Exclusivity

FICO/FOCO: No exclusivity—the brand can open new units anywhere, though you may negotiate “first‐refusal” on new sites.
FOFO: You gain an exclusive territory (e.g., a 5 km radius), protecting you from brand dilution .

Area Development
FOFO agreements often impose development obligations (e.g., open three outlets in five years) with penalties for non-compliance.

4. Intellectual Property & Branding

All models enforce strict IP usage: logo specs, signage formats, menu artwork, and digital assets. Non-compliance can trigger cure periods or termination .

In FICO/FOCO, the franchisor may unilaterally introduce brand updates, new packaging, or digital collateral without franchisee consent.
FOFO requires 30–60 days’ notice and a consultation window before major brand changes.

5. Reporting & Audits

Reporting Cadence

FICO: Quarterly financials suffice; returns are calculated centrally.
FOFO/FOCO: Monthly P&L, sales figures, and inventory logs must be submitted; franchisor reserves onsite/offsite audit rights .

Audit Scope
Agreements outline audit triggers, notice periods (e.g., 48 hours), and consequence clauses for discrepancies exceeding 2 % of reported sales.

6. Term, Renewal & Termination

Term Length

FICO: Typically 5–10 years, matching the break‐even horizon.
FOFO/FOCO: Longer terms (10–20 years) with automatic renewal if performance covenants (e.g., 95 % SOP compliance, minimum sales volume) are met. But is subjective to brand’s policy

Termination Rights

All models allow termination for material breaches (non-payment, brand damage).
FOFO includes cure periods for underperformance and forfeiture of security deposits if exit occurs prematurely.

7. Exit & Transfer Provisions

FICO: A valuation formula (e.g., 4× EBITDA) sets the buy-out price; transfers need franchisor approval.

FOFO: Right of first refusal for the franchisor; transfer fees of 10–20 % of the sale price apply .

FOCO: Often includes buy-back options at predetermined valuations or lease extensions to protect your asset.

Choosing the Right Model

FICO: Choose if you’re a passive investor seeking predictable returns with no operational load.
FOFO: Opt in when you’re a hands-on operator ready to drive growth and reap direct profits.
FOCO: Ideal for real-estate investors who want asset ownership plus a stable, outsourced income stream.

Final TakeawayIndia’s franchising boom offers three paths to success: FICO for passive investors, FOFO for hands-on entrepreneurs, and FOCO for asset-focused partners. Your ideal model hinges on balancing capital commitment, operational control, and long-term vision. Evaluate your risk appetite, involvement level, and growth goals—then align with the structure that turns opportunity into sustainable profit. In a market set to hit ₹2 lakh crore by 2027, the right choice today becomes tomorrow’s thriving franchise legacy. Choose wisely!

Tags Affordable Franchise, BBFT, best F&B franchise India, BuildingBrandsFortomorrow, FOCO, FOFO, Foodfranchise, Franchise

Brand Stories Industry Story

Compliances and licenses to take in a restaurant: All about liquor license, FSSAI, and others

Post author By Shourya Jain
Post date May 7, 2025
No Comments on Compliances and licenses to take in a restaurant: All about liquor license, FSSAI, and others

Launching a food-service outlet in Delhi demands navigating a complex web of regulations: from FSSAI for food safety to GST for taxation; state-level excise permits for alcohol; municipal health/trade, Fire NOCs, and pollution consents; plus niche licenses like Tea & Snack Shop, PESO LPG storage, and Weights & Measures. Additional requirements include Shops & Establishments registration, Public Liability Insurance, Signage approvals, Music performance rights, and more. Planning 4–6 months for application, inspection, and renewal processes will ensure a smooth, compliant launch.

1.1 FSSAI License

Fee: Basic registration is ₹100, State licence ₹2,000–₹7,500, Central licence ₹7,500 .
Timeline: Issuance in 30–60 days; renewal 30 days before expiry .

1.2 GST Registration

Thresholds: Mandatory at ₹20 L turnover (₹10 L in NE/hill states).
Rates: 5% (no ITC) for non-AC/no-seating; 18% (with ITC) for AC/with seating or delivery .
Filing Frequency: Monthly returns; penalties up to ₹10,000 for delays.

2. State Excise & Liquor Permits

2.1 Delhi Excise Licences

Permit-I (Restaurant ≥ 30 seats): Application fee ₹10,000, security deposit ₹5 L, renewal ₹7,500 p.a. .
Permit-II (Bar): Fee ₹8,000, deposit ₹3 L, renewal ₹6,000.
Permit-IV (Beer/Wine Only): Fee ₹5,000, deposit ₹2 L, renewal ₹4,000.
Process Time: 60–90 days, includes Police, Fire, Trade, and FSSAI NOCs .

State Variations:

Mumbai (Type-B/C): Licence fee ₹15,000–₹25,000, deposit ₹10 L .
Bangalore: Fees ₹10,000–₹20,000, deposit ₹5 L .

3. Municipal Approvals

3.1 MCD Health & Trade Licence

Fee: ₹2,000 initial; renewal ₹1,000.
Validity: 1 year; timelines 30 days .

3.2 Tea & Snack Shop Licence

Fee: ₹1,500 p.a. for outlets ≤ 20 seats.
Penalties: Fines up to ₹5,000/day for non-compliance .

3.3 Shops & Establishments Registration

Fee: ₹500–₹1,000 depending on employee count.
Deadline: Within 30 days of opening .

4. Safety & Environmental NOCs

4.1 Fire-Safety Certificate (DFS)

Area Threshold: Built-up ≥ 60 m² (~ 645 sq ft) mandatory; ≥ 200 m² requires hydrants.
Fee: ₹1,000 application; renewal ₹500 biennially.
Process: Inspection within 15–30 days .

4.2 DPCC Pollution Consents

CTE: Fee ₹5,000, valid 5 years.
CTO: Fee ₹2,000, valid 1 year.
Process: 45–60 days .

5. Specialty & Miscellaneous Licences

5.1 PESO (LPG Storage)

Fee: ₹5,000–₹10,000 depending on cylinder capacity.
Process: Design approval and annual audits .

5.2 Legal Metrology

Fee: ₹250 per weighing/billing device; verification every 1–2 years .

5.3 Public Liability Insurance

Premium: ₹10,000–₹50,000 p.a. based on risk profile.
Coverage: Mandatory for hazardous substances .

5.4 Occupancy Certificate

Fee: ₹5,000; includes structural safety and fire exits.
Timeline: 30–45 days post fit-out .

5.5 Plastic Waste Management

Fee: ₹1,000 registration; annual compliance reporting.
Rules: Bans on certain disposables from 2022 .

5.6 Food-Handler Training

Fee: ₹2,000–₹5,000 per supervisor; health checks ₹500 p.a.
Validity: 3 years .

5.7 Music & Public Performance

PPL: ₹5,000–₹15,000 p.a. based on seating.
IPRS: ₹3,000–₹10,000 p.a. .

5.8 Signage / Advertisement

Fee: ₹2,000–₹5,000 depending on size; renewal ₹1,000.
Violation Penalty: ₹5,000–₹10,000 .

5.9 Lift/Elevator Certificate

Fee: ₹1,000 initial; annual inspection ₹500.
Regulator: Delhi Lift Directorate .

6. State-Wise Snapshot

Licence	Delhi	Mumbai	Bangalore	Kolkata
FSSAI	₹100–₹7,500	₹100–₹7,500	₹100–₹7,500	₹100–₹7,500
GST	5%/18%	5%/18%	5%/18%	5%/18%
Excise (Liquor)	₹5k–₹10k + deposit ₹2L–₹5L	₹10k–₹25k + deposit ₹5L–₹10L	₹10k–₹20k + deposit ₹5L	₹5k–₹15k + deposit ₹2L–₹5L
Trade License	₹2,000/₹1,000	₹3,000/₹1,500	₹2,500/₹1,200	₹2,000/₹1,000
Tea & Snack Shop	₹1,500	₹7,000	₹2,000	₹1,800
Fire NOC	₹1,000/₹500	₹1,200/₹600	₹1,000/₹500	₹1,000/₹500
Pollution Consent	₹5k (CTE)/₹2k (CTO)	₹6k/₹3k	₹5k/₹2k	₹5k/₹2k
PESO LPG	₹5k–₹10k	₹5k–₹10k	₹5k–₹10k	₹5k–₹10k
Metrology	₹250/device	₹250/device	₹250/device	₹250/device
PLI	₹10k–₹50k	₹10k–₹50k	₹10k–₹50k	₹10k–₹50k
OC	₹5,000	₹6,000	₹5,000	₹5,000
Plastic Waste	₹1,000	₹1,200	₹1,000	₹1,000
Food Training	₹2k–₹5k	₹2k–₹5k	₹2k–₹5k	₹2k–₹5k
Music (PPL/IPRS)	₹8k–₹25k total	₹8k–₹30k	₹8k–₹25k	₹8k–₹25k
Signage	₹2k–₹5k	₹3k–₹6k	₹2k–₹5k	₹2k–₹5k
Lift Certificate	₹1,000/₹500	₹1,200/₹600	₹1,000/₹500	₹1,000/₹500

Next Steps:

Aggregate Fees & Deposits: Budget approximately ₹5–10 L for all licences and NOCs.
Map Application Timelines: Sequence licences to avoid launch delays (start FSSAI & fire ~3 months prior).
Engage Local Experts: Compliance consultants can fast-track Police, Fire, and Excise NOCs.
Track Renewals: Maintain a digital calendar—penalties for lapses can exceed ₹50,000 per licence.

With this exhaustive licence and fee breakdown, your Delhi restaurant, café, or QSR will meet every regulatory requirement—allowing you to focus on operations and customer delight.

Tags Affordable Franchise, BBFT, best F&B franchise India, BuildingBrandsFortomorrow, F&B lisence, Foodfranchise, Franchise, Fssai, GST, license, Nothing Before Coffee, Tancoffee

Brand Stories

Top Franchise in Delhi

A Vibrant Market Primed for Franchising

Delhi’s foodservice sector is one of India’s most dynamic, with organized players capturing over 40 percent of consumer spending amid surging incomes, millennial dining trends, and tech-enabled delivery platforms. From upscale cafés in Connaught Place to fusion QSRs in GK and community-driven kiosks across Noida, Delhi offers proven demand corridors—Which offers Quick break-even and High EBITDA margins ranging between 25-30%. This combination of density, diversity, and disposable income makes Delhi an ideal launchpad for franchise concepts seeking rapid scale and reliable returns.

ATE (Altogether Experimental)

Metric	Boutique	Flagship
Investment	₹70–80 L (1,000 sq ft)	₹1–1.25 Cr (1,800+ sq ft)
Payback	~18-24months	~24 – 30 months
ROI	40–45 percent	60–65 percent
AOV	~₹1,000	~₹1,000
Footprint (NCR)	2 Live outlets + 2 in pipeline	2 Live outlets + 2 in pipeline

Sheikh Chang Singh

Since its 2020 debut in Hauz Khas, Sheikh Chang Singh has redefined QSR by uniting shawarmas, momos, rolls, kebabs, and biryani under one “plug-and-play” menu of 85 items—centralized for consistency and 18–20 percent EBITDA margins . Founders Akshay Sharma and Karan Chachra leveraged student and office hubs across Delhi NCR, signing 20+ franchise agreements in three months.

Metric	Value
Investment	₹18–25 L
Payback	15–18 months
EBITDA Margins	18–20 percent
AOV	₹350
Royalties	5 %+ 2 % Central marketing
Footprint (NCR)	15 live outlets; +5 upcoming

Tan Coffee

Metric	Value
Investment	₹75–80 L
Payback	~24 months
EBITDA Margins	25–30 percent
AOV	₹950–1,000
Footprint (NCR)	11 live outlets; +4 pipeline
Royalties	Profit Share

Café Wink

Metric	Value
Investment	₹1.5–2 Cr
Payback	18–24 months
ROI	EBITDA-sharing FOCO model
AOV	₹1,300–1,500
Footprint (NCR)	1 live (Anand Vihar); +3 pipeline

Wakhra Swaad

Metric	Value
Investment	₹80–90 L
Payback	18–24 months
ROI	40–50 percent p.a.
AOV	₹700–2,500
Royalties	9–10 percent
Footprint (NCR)	4 COCO + 1 FOFO outlets

Indus Flavour

Metric	Value
Investment	₹2–2.5 Cr (₹40 L franchise fee)
Payback	18–24 months
ROI	40–45 percent
AOV	₹400–500
Footprint (NCR)	Multiple outlets (GTB Nagar, Pitampura)

Cafeteria & Co

Cafeteria & Co’s 4,000–5,000 sq ft “flavour-packed” cafés offer fusion crepes, pizzas, and desserts in Delhi’s premier malls, commanding ₹500–600 AOV per visit .

Metric	Value
Investment	₹4–5 Cr (₹40 L fee)
Payback	12–24 months
ROI	EBITDA-sharing FOFO model
AOV	₹500–600
Footprint (NCR)	5 FOFO outlets (Connaught, Select Citywalk)

Echoes

Echoes, operated by deaf and mute staff, pairs social impact with global-fusion comfort food in 1,200 sq ft+ cafés, targeting ₹300–400 AOV from Delhi’s socially conscious diners .

Metric	Value
Investment	₹50–80 L
Payback	18–24 months
ROI	EBITDA-sharing FOFO model
AOV	₹300–400
Footprint (NCR)	Planned GK & Hauz Khas

Dhaba Estd. 1986

With 22 outlets across Delhi NCR—including Vasant Kunj and Promenade Mall—Dhaba Estd. 1986 delivers Punjabi highway classics (Butter Chicken, Dal Makhani) in modern 2,000–3,000 sq ft venues .

Metric	Value
Investment	₹1–2 Cr
Payback	12–24 months
ROI	EBITDA-sharing FOFO model
AOV	₹300–400
Footprint (NCR)	22 outlets

Your Next Move
Whether you’re an angel investor eyeing high-growth concepts or an entrepreneur seeking a proven brand to scale, our franchise advisory team will partner with you at every step—market analysis, territory negotiation, financial modeling, and operational launch—so you hit your ROI targets in under 30 months. Connect now to schedule your one-on-one Franchise Strategy Session, receive customized investment projections, and lock in your preferred territory before it’s gone

Tags Affordable Franchise, Altogetherexperimental, ATE, BBFT, best F&B franchise India, BuildingBrandsFortomorrow, Cafeteria & Co, cafewink, Dhaba Estd. 1986, Echoes, Foodfranchise, Franchise, Indus Flavour, Sheikh Chang Singh, Tancoffee, Wakhraswaad franchise

BBFT Success Story Franchise stories

The Best Franchise Opportunities in the Indian Food Industry in 2025

Post author By Shourya Jain
Post date April 30, 2025
No Comments on The Best Franchise Opportunities in the Indian Food Industry in 2025

India’s Food Franchise Gold Rush in 2025

India’s organized foodservice market—now over ₹4 trillion—continues to surge at a 12–15 % CAGR, fueled by rising incomes, urban lifestyles, and an appetite for novel dining experiences. For investors seeking strong returns with managed risk, franchising remains the fastest track: proven concepts, built-in brand equity, and break-even often within 18–30 months. Below are seven hand-picked franchise opportunities that combine vibrant brand stories with robust unit economics.

ATE (Altogether Experimental)

ATE is more than a café—it’s a canvas of culinary creativity. Founded by restaurant strategist Vicky Mandal and pastry artisan Anukriti Anand, ATE fuses Australian brunch vibes with global flavors, rotating 20–30 % of its menu seasonally—from Choccy Chip Banana Bread Pancakes to Soba Noodle & Teriyaki Bowls—to keep guests coming back for fresh experiences .

Investment & Format:
- Boutique (1,000 sq ft): ₹70–80 L → 40–45 % ROI
- Flagship (1,800+ sq ft): ₹1–1.25 Cr → 60–65 % ROI
Payback: ~24 months
AOV: ~₹1,000
Model: FICO (brand-managed operations, EBITDA-sharing)
Footprint: 2 live outlets (Saket & Safdarjung) + 2 in pipeline (Gurgaon, GK)

Sheikh Chang Singh

In 2020, Akshay Sharma and Karan Chachra launched a QSR that marries shawarma, momos, rolls, kebabs, and biryanis under one roof—hence the name. A centralized kitchen guarantees 18–20 % EBITDA margins and menu consistency across all outlets. Despite pandemic headwinds, the brand now counts 15 live locations (3 COCO, 12 FOFO), with five more set to open this quarter .

Investment: ₹18–25 L
Payback: 15–18 months
AOV: ₹350
Royalties: 5 % + 2 % marketing
Footprint: 20+ agreements signed, targeting Delhi NCR, Jaipur, and Delhi–Punjab highway corridors

Tan Coffee

Tan Coffee’s rise from three outlets to eleven in just 1.5 years epitomizes India’s specialty-coffee surge. Founders Nishant Mittal and Shivank Verma blend artisanal brews with in-house Continental, Italian, and Mexican dishes, achieving 25–30 % EBITDA and ₹950–1,000 AOV across Delhi, UP, Hyderabad, Raipur, and Punjab. Four more outlets are in the pipeline .

Investment: ₹75–80 L
Payback: ~24 months
Footprint: 11 live outlets; 4 upcoming
Model: FOFO (company-operated, EBITDA-sharing)

Café Wink

An East Delhi icon since 2011, Café Wink grew from a 40-cover outlet to a social-media phenomenon—5 million+ guests, 50 K Instagram followers, and a 4.4 Zomato rating. Its Italian-inspired crepes, coffees, and desserts generate ₹7 Cr / yr per outlet at ₹1,300–1,500 AOV.

Investment: ₹1.5–2 Cr (2,000 sq ft)
Payback: 18–24 months
Model: FOCO (franchise-operated, EBITDA-sharing)
Footprint: 1 live (Anand Vihar) + 3 pipeline (Noida, Dwarka, Gurgaon) .

Wakhra Swaad

Chef Arjun Thakkar and co-founder Ravi Bajaj revived authentic dhaba cuisine with modern operations, translating century-old recipes into dishes that resonate with today’s urban diners. With ₹80–90 L capex, 9–10 % royalty, and 40–50 % ROI p.a., franchisees break even in 18–24 months.

Investment: ₹80–90 L
Payback: 18–24 months
ROI: 40–50 % p.a.
AOV: ₹700–2,500 per ticket
Footprint: 4 COCO + 1 FOFO outlets

Tribal Brew

Tribal Brew’s “coffee on-the-go” kiosks source micro-lot beans from a 90-year-old estate, delivering bean-to-cup freshness at ₹200–250 AOV. At ₹20 L capex and EBITDA-sharing, franchisees break even in 18–24 months.

Footprint: 2 COCO outlets (Bengaluru); 4 pipeline (Sarjapur, Church St., JP Nagar, Mysore)
Model: FOCO (franchise-operated, EBITDA-sharing)

Dhaba Estd. 1986

A legacy of Punjab’s highway cook-shacks, Dhaba Estd. 1986 brings Butter Chicken and Amritsari Kulcha into 2,000–3,000 sq ft venues. With ₹1–2 Cr capex, 7 % royalty, and ₹300–400 AOV, franchisees achieve break-even in 12–24 months across 22 outlets nationwide .

Indus Flavour

Indus Flavour, founded in 2011 in GTB Nagar, New Delhi, has built its following on 100 % pure-vegetarian, Indo-fusion menus—think Butter Paneer Pizza and Makhani Pasta—that appeal to youth and families alike . Its vibrant, modern décor and innovative dishes position it strongly in the vegetarian casual-dining segment.

Franchise Metrics:

Investment Range: ₹2–2.5 Cr per outlet (including ₹40 L franchise fee)
Royalty: 9 % of sales
ROI / Payback: 40–45 % ROI; ~18–24 months payback
AOV: Approx. ₹400–500 per customer
Footprint: Multiple Delhi-NCR outlets; planning pan-India expansion
Support: End-to-end site analysis, training, operations SOPs, and marketing guidance

Cafeteria & Co

Context & USP: Cafeteria & Co (est. 2018, New Delhi) brands itself as a “flavour-packed adventure” café with a global-fusion menu—from prawn pizzas to German chocolate shakes—set within stylish 4,000–5,000 sq ft spaces that accommodate casual dining and events .

Franchise Metrics:

Investment: ₹4–5 Cr CapEx including ₹40 L franchise fee
Royalties: 7–9 % of monthly sales
Payback: 12–24 months
AOV: ₹500–600 per visit
Footprint: 5 outlets in Delhi-NCR

Echoes

Echoes is India’s first multi-cuisine café concept operated by deaf and mute staff, delivering social impact alongside Fusion-global menus in warm, inclusive environments of 1,200 sq ft+ . This “bean-to-cup” model sources premium coffee and pairs it with comfort-food dishes, creating a feel-good dining experience.

Franchise Metrics:

Investment: ₹50–80 L initial CapEx (includes fit-out & equipment)
Royalties: 8 % of sales
Payback: ~18–24 months
AOV: ₹300–400 per customer (coffee + snack)
Footprint: Planning pan-India expansion; territory sizes 1,200 sq ft+

Peter Rabbit Coffee Roasters

Founded in 2023 in Chandigarh, Peter Rabbit Coffee Roasters bridges artisanal coffee and fresh, in-house food—with breads, sauces, and pastries made on-site for unmatched freshness—targeting health-conscious urban consumers .

Franchise Metrics:

Investment: ₹1–1.25 Cr CapEx (franchise fee included)
Royalties: 8 % of sales
Payback: 24–30 months
AOV: ₹1,100 per customer
Footprint: 3 COCO outlets (Elante Mall & Sector 7 Chandigarh; Mohali)

Investors targeting ₹50 L–₹1 Cr franchises can tap into these seven dynamic concepts—each with proven unit economics, clear ROI paths, and strong consumer appeal—poised to thrive in India’s ₹4 Tn+ foodservice marketplace.

Next Step: Contact BBFT’s franchise advisory team for detailed term sheets, territory mapping, and a personalized investment roadmap for 2025.

Tags Affordable Franchise, Altogetherexperimental, ATE, BBFT, best F&B franchise India, BuildingBrandsFortomorrow, Cafetaria&Co, Dhaba1969, Foodfranchise, Franchise, Nothing Before Coffee, Tancoffee, Tribalbrew

BBFT Success Story Franchise stories Industry Story

5 Steps to Owning a Profitable Food Franchise in India (Without Running It Yourself)

Post author By Aadvik Bagga
Post date April 29, 2025
No Comments on 5 Steps to Owning a Profitable Food Franchise in India (Without Running It Yourself)

India’s food and beverage industry is undergoing a massive shift. From premium cafés to scalable QSRs, branded outlets are taking over high-street real estate — and smart investors are getting in early.

But here’s the twist: you no longer need to operate a restaurant to profit from one.

Thanks to the Company-Operated Franchise Model, you can now own a branded outlet while the brand handles the entire operation. At BBFT, we specialize in connecting investors with such models — where you bring the capital, and the brand brings the execution.

Let’s break down how to enter this space, smartly and strategically:

1. Define Your Investment Appetite and Involvement Level

Start with clarity. Are you looking to invest ₹30–70 lakhs in a high-efficiency QSR or ₹1 Cr+ in a flagship café or casual diner?

This first step helps filter the right brand, location, and model for your goals. Whether you’re diversifying across asset classes or building an F&B-specific portfolio, your investment style should guide the structure — not the other way around.

2. Choose the Right Brand with a Proven Company-Operated Model

Not all franchise brands operate equally. Some expect you to run the outlet; others — like the brands we work with — handle it entirely themselves.

What you want:

Brands with successful existing outlets and replicable SOPs
Full-stack company-operated model (staffing, sourcing, training, operations)
Transparent communication, regular reporting, and investor-aligned incentives

This is where BBFT steps in. We’ve vetted dozens of F&B concepts to shortlist only those with long-term, scalable, investor-friendly systems.

3. Understand the Commercial Structure Clearly

Numbers don’t lie — but sometimes they get buried in brochures. We make sure you know:

– The full CapEx breakdown (setup cost, brand fees, interiors)
– ROI structure (monthly returns, revenue share percentages, payouts)
– Breakeven timelines and long-term yield potential
– Exit options — resale, transfer, or brand-led buyback
You’re not just investing in a store. You’re building a yield-generating asset with predictable cash flows.

4. Secure the Right Location — or Let the Brand Do It

In F&B, real estate matters — a lot. But that doesn’t mean you have to scout malls or negotiate leases yourself.

Many brands take the lead, identifying, vetting, and finalizing sites based on footfall, rental viability, and brand fit. Whether you have a space in mind or need help finding one, you should ensure that the economics work — not just the aesthetics.

5. Let the Brand Launch, Operate & Scale

Once the paperwork’s done and the funds are deployed, the brand takes over:

Store design and buildout
Hiring and training of staff
Daily operations, inventory, vendor management, quality control
P&L management and return disbursement

You stay informed, not involved. Regular reporting ensures visibility — and peace of mind.

Final Thought: You Own the Asset; They Run the Business.

Franchising isn’t what it used to be. With today’s investor-first models, you can own high-performing food outlets without managing staff, chasing vendors, or worrying about day-to-day execution.

Ready to explore F&B franchise investment opportunities?

At BBFT, we help HNIs and serious investors tap into India’s fast-growing F&B ecosystem through fully operated, investor-aligned models. You focus on returns. We handle the rest.
📞 Let’s talk — we’ll walk you through live deals, real returns, and India’s top-performing brands.

Tags BBFT, best F&B franchise India, BuildingBrandsFortomorrow, Foodfranchise, Franchise

BBFT Success Story Franchise stories

Seizing India’s F&B Gold Rush: Food Franchise opportunity in India

Post author By Shourya Jain
Post date April 29, 2025
No Comments on Seizing India’s F&B Gold Rush: Food Franchise opportunity in India

India’s organized foodservice sector has surpassed the ₹4 trillion mark, fueled by rising incomes, urbanization, and an evolving taste for both convenience and culinary experiences. Over the next five years, analysts project the market will expand at a 10–12 % CAGR, transforming everything from quick-serve cafés to premium dining concepts into high-growth opportunities. Franchising lets investors plug into this momentum with proven models—reaping 18–30 month break-evens, strong unit economics, and built-in brand equity—while capitalizing on established supply chains and marketing engines.

1. ATE (Altogether Experimental)

ATE blends Australian brunch vibes with global flavors, inventive desserts, and specialty coffee. Co-founders Vicky Mandal (restaurant consultant) and Anukriti Anand (pastry chef) rotate 20–30 % of their menu seasonally—from Choccy Chip Banana Bread Pancakes to Soba Noodle & Teriyaki Bowls—keeping the experience fresh and community-focused.

Franchise Metrics:

Formats & Investment:
- Small (1,000 sq ft): ₹70–80 L → 40–45 % ROI
- Large (≥1,800 sq ft): ₹1–1.25 Cr → 60–65 % ROI
Payback: ~24 months
AOV: ~₹1,000
Profit Model: EBITDA-sharing
Footprint: 2 live stores (Chandigarh, Golf Course Ext.) + 2 in pipeline (GK, Noida)

2. Sheikh Chang Singh

Founded in 2020 by Akshay Sharma and Karan Chachra, Sheikh Chang Singh’s name—“Sheikh” for shawarma & falafel, “Chang” for rolls & momos, “Singh” for kebabs & curries—captures its 85-item fusion menu. A centralized kitchen ensures consistency, even as the brand scales rapidly across Delhi NCR, Jaipur, and highway corridors.

Franchise Metrics:

Investment: ₹18–25 L
Payback: 15–18 months
AOV: ₹350
EBITDA Margins: 18–20 %
Royalties: 5 % + 2 % marketing fee
Footprint: 15 live outlets; 5 more opening this quarter

3. Tan Coffee

Since 2018, Nishant Mittal and Shivank Verma have grown Tan Coffee from 3 to 11 outlets in 18 months, offering an extensive beverage menu alongside in-house Continental, Italian, and Mexican dishes. Their minimalist interiors and outdoor seating have made it a go-to specialty café across Delhi, UP, Hyderabad, Raipur, and Punjab.

Franchise Metrics:

Investment: ₹75–80 L
Payback: 24 months
AOV: ₹950–1,000
EBITDA Margins: 25–30 %
Footprint: 11 live outlets; 4 more in pipeline
Profit Model: EBITDA-sharing

4. Wakhra Swaad

Launched in 2016 by Chef Arjun Thakkar and Ravi Bajaj, Wakhra Swaad reinterprets North Indian dhaba cuisine with modern techniques. Drawing on age-old family recipes, it delivers consistent, bold flavors across its outlets.

Franchise Metrics:

Footprint: 4 COCO outlets + 1 FOFO outlet
Investment: ₹80–90 L
ROI: 40–50 % p.a.
Payback: 18–24 months
Average Ticket Size: ₹700–1,500 (couples), ₹1,500–2,500 (families)
Royalties: 9–10 % of sales

5. Tribal Brew

Tribal Brew brings bean-to-cup freshness on the go, sourcing micro-lots from a 90-year-old family estate and serving them through compact urban kiosks. Its sustainable, transparent approach appeals to busy professionals seeking quality coffee quickly.

Franchise Metrics:

Model: FOCO
Investment: ₹20 L
Payback: ~18–24 months
AOV: ₹200–250
Profit Model: EBITDA-sharing
Footprint: 2 COCO outlets (Bengaluru); 4 new in pipeline (Sarjapur, Church St, JP Nagar, Mysore)

6. Café Wink

Since its founding on September 1, 2011, Café Wink has evolved from a modest takeaway outlet into one of East Delhi’s most Instagram-worthy cafés. Over the past 13 years, it has served more than 5 million customers, maintained a 4.4 Zomato rating, and built a 50,000-strong Instagram following with a 60 million-reach campaign during Christmas 2023.

Franchise Metrics:

Investment: ₹1.5 – 2.0 Cr for a 2,000 sq ft outlet
Payback Period: 18 – 24 months
Average Order Value (AOV): ₹1,300 – 1,500 per customer
Annual Revenue: ~₹7 Cr per outlet
Footprint: 1 live outlet (Anand Vihar) + 3 in pipeline (Noida, Dwarka, Gurgaon)
Profit Model: FOCO (Franchise Owned, Company Operated) with EBITDA-sharing

Your Next Move – Connect with BBFT

Ready to capitalize on India’s fastest-growing café and QSR concepts—brands that deliver 40–65 % annual ROI and break even 18-24 months? Partner with BBFT today to secure your exclusive territory in ATE’s trendsetting experiential cafés, Sheikh Chang Singh’s fusion QSR network, Café Wink’s premium Italian outlets, Tan Coffee’s specialty brewhouses, Wakhra Swaad’s modern dhabas, or Tribal Brew’s on-the-go kiosks—each vetted for robust unit economics and rapid scale. Submit your inquiry now to receive our Investor Prospectus, reserve your franchise rights, and start earning from day one.

Tags Affordable Franchise, ATE, ATE franchise, BBFT, best F&B franchise India, BuildingBrandsFortomorrow, Foodfranchise, Franchise, Sheikhchangsingh, Tancoffee, Tribal brew franchise, Wakhraswaad franchise

Brand Stories

Chaayos: Growth story, Does Chaayos Franchise? All you need to know about the Indian Chai Giant

Post author By Shourya Jain
Post date April 25, 2025
No Comments on Chaayos: Growth story, Does Chaayos Franchise? All you need to know about the Indian Chai Giant

In a nation where 1.2 billion cups of chai are consumed daily, Chaayos has rewritten the rules of the game. What began as a quest for a perfect cup of tea in 2012 has blossomed into a ₹2,600 crore empire, proving that even in a market steeped in tradition, innovation and experience can command premium pricing. Here’s how Chaayos transformed India’s ₹15 roadside ritual into a ₹260 café phenomenon—and the strategic lessons every F&B entrepreneur can learn.

The Genesis: Bridging Tradition and Modernity

Nitin Saluja and Raghav Verma, two IIT-Delhi graduates, spotted a gap in India’s chai landscape: a lack of consistency, hygiene, and personalization. Their vision? To elevate chai from a commodity to an experience. Launched in a Delhi neighborhood, Chaayos blended time-honored Indian tea rituals with café-style ambiance and tech-driven customization.

The mantra was simple yet revolutionary: “Meri Wali Chai” (My Kind of Tea). This wasn’t just about brewing tea—it was about crafting moments.

The Growth Formula: Strategic Scaling Through Innovation

1. Hyper-Personalization as a Differentiator

Chaayos turned chai into a canvas for self-expression. With 25 base teas and 12,000+ permutations (think ginger-heavy for Monday mornings or lemongrass-infused for lazy Sundays), customers could curate their perfect cup. This strategy didn’t just drive trial—it fostered emotional loyalty.

Key Insight: Millennials and Gen Z crave individuality. By offering endless customization, Chaayos transformed a daily habit into a personalized ritual, fueling word-of-mouth and social media buzz.

2. Premiumization Through Experience Design

Why pay ₹65 for chai when roadside stalls charge ₹15? Chaayos answered with a multi-sensory experience:

Ambiance: Hygienic, Wi-Fi-enabled spaces with curated playlists replaced chaotic street-side stalls.
Cultural Nuance: Branded kulhads (clay cups) evoked nostalgia while signaling premium quality.
Smart Bundling: “Chai + bun maska” combos (₹150–200) anchored higher spending, blending affordability with indulgence.

3. Operational Mastery: The Backbone of Consistency

Scaling a chai brand across 200+ outlets without compromising quality demanded precision:

Centralized Kitchens: Three hubs standardized base ingredients, ensuring <5% taste variance nationwide.
Tech-Driven Efficiency: AI algorithms slashed inventory waste by 12% and optimized staffing during peak hours.

Financial Brew: From Seed Capital to Profitability

Chaayos’ financial journey mirrors its operational discipline:

Funding Momentum: Raised $93.8 million from marquee investors (Tiger Global, Alpha Wave), validating its premium model.
Revenue Growth: Operating revenue surged from ₹135 crore (FY22) to ₹248.5 crore (FY24), with EBITDA swinging to +₹28.3 crore (11% margin) in FY24.
Omnichannel Pivot: Post-pandemic, packaged teas and D2C sales now contribute 50% of revenue, mitigating reliance on physical stores.

Franchising: Strategic Caution Over Rapid Expansion

While platforms tout Chaayos franchise opportunities, the brand prioritizes controlled growth:

Company-Owned Focus: 200+ outlets are largely corporate-run to safeguard quality.
Global Experiments: Pilots in Dubai and Singapore test franchising viability, targeting NRI audiences craving authentic Indian chai.

Lesson for Entrepreneurs: Scaling requires balancing speed with brand integrity.

Key Takeaways for F&B Disruptors

Elevate the Everyday: Even commoditized products can command premium pricing through curated experiences.
Leverage Tech for Personalization: Data-driven customization builds emotional connections and repeat visits.
Control the Supply Chain: Centralized operations ensure consistency—a non-negotiable for premium brands.
Adapt or Stagnate: Chaayos’ omnichannel shift (e-commerce, subscriptions) highlights the need for agility in volatile markets.

Conclusion: Brewing Legacy Through Innovation

Chaayos’ success isn’t just about chai—it’s a masterclass in reimagining tradition. By marrying India’s tea-drinking heritage with tech, design, and operational rigor, they’ve crafted a blueprint for premiumization in price-sensitive markets.

For entrepreneurs, the message is clear: In a crowded market, differentiation lies in experience, consistency, and strategic patience.

At BBFT, we specialize in helping F&B brands scale with purpose. Whether you’re refining your product, optimizing operations, or exploring funding, let’s collaborate to brew your success story

Tags BBFT, Best cafe franchise, best F&B franchise India, BuildingBrandsFortomorrow, Chaayos, Chai, Chaifranchise, Foodfranchise, Franchise

Brand Stories

Baking a ₹3,500 Crore Dream: Theobroma’s Journey from a One-Room Bakery to a National Patisserie Powerhouse

Post author By Shourya Jain
Post date April 23, 2025
No Comments on Baking a ₹3,500 Crore Dream: Theobroma’s Journey from a One-Room Bakery to a National Patisserie Powerhouse

In 2004, two sisters turned a ₹1 crore family loan into a 150 sq ft bakery in Mumbai’s Colaba Causeway. Twenty years later, Theobroma boasts over 225 outlets across 30 cities, ₹350 crore+ in annual revenue and is poised for a ₹3,200–3,500 crore acquisition. Here’s how Kainaz and Tina Messman Wykes blended grit, generational recipes, professional rigor and smart capital to bake a true F&B empire

A Sweet Spark: From Bedrest to Baking Stardom

At 24, Le Cordon Bleu-trained pastry chef Kainaz Messman Harchandrai suffered a career-ending back injury and was confined to bed for months. Doctors warned she might never stand long enough to chef again—yet this setback became her catalyst. In October 2004 (Dussehra), Kainaz and sister Tina borrowed ₹1 crore from their father to open a 150 sq ft kiosk in Colaba, naming it Theobroma—Greek for “food of the gods”—with a promise to make only what they loved and to make it exceptionally well.

Generational Goodness: Crafting Cult-Favorite Pastries

Long before any expansions, Theobroma’s heartbeat was its family recipes. Kainaz’s grandmother’s mawa cakes and her mother’s eggless brownies, along with chocolate-orange mousses and rum truffles, formed a menu that resonated instantly. These small-batch creations—never frozen, always fresh—turned first-time tasters into lifelong brand advocates, with 70–80% becoming regulars within a month.

By FY21, Theobroma had already cracked a ₹121 crore revenue milestone, thanks to accessible price points (AOV ~₹300) that struck the perfect balance between premium quality and mass appeal.

Professional Backbone: Adding Discipline to Passion

Recognizing that passion alone wouldn’t sustain hyper-growth, the sisters brought in outsider leadership early. In 2013, they appointed Cyrus Shroff—a veteran of KPMG and Tata Capital—as their first CEO, followed by Rishi Gour in 2020 to steer operations through explosive scaling. This professional management set the foundational SOP’s, enforced governance and prepared Theobroma for institutional capital.

Hybrid Model & Tech-Driven Operations

To ensure consistent quality across geographies, Theobroma pioneered a hybrid model: centralized “dark” kitchens in Mumbai, Pune, Bengaluru and Hyderabad handle prep (batter mixing, ganache tempering), while express-format outlets perform the final bake-off. Digitized supply-chain management and demand forecasting slashed production costs by ~12% and minimized waste—a vital efficiency in the perishable-goods business.

They also operate three store formats—cafés, express stores and self-serve kiosks—tailoring the experience to footfall patterns, from high-street malls to office lobbies and airports, thus maximizing daily throughput in each location.

Phased, Pan-India Expansion

2004–2013: Perfect the Core
A single Colaba outlet honed recipes and customer experience for nearly a decade, ensuring a rock-solid foundation before scaling.

2014–2017: Metro Rollout
Armed with a ₹5 crore loan in 2014, Theobroma opened four additional Mumbai locations. In 2017, ICICI Ventures invested ₹120 crore for a ~46% stake, seeding expansion into Delhi-NCR and Pune—transformative capital that accelerated outlet growth from 5 to 45 units by early 2020.

2020–2025: Beyond the Big Cities
The COVID-19 lockdowns prompted a robust online pivot and packaging innovations, preserving 10–20% of revenues via delivery. By 2025, Theobroma had over 225 outlets in 30+ cities—including Chandigarh, Surat and Jaipur—cementing its status as India’s leading patisserie chain.

Crunching the Numbers: Sweet Financial Milestones

₹121 Crore (FY21): First major topline breakthrough, doubling the founders’ initial revenue goals.
₹254.7 Crore → ₹351.7 Crore (FY22–FY23): A 38% y-o-y jump, driven by new outlets and product diversification.
₹19.6 Crore Net Profit (FY23): Swinging from an ₹11 crore loss to clear profitability within a year.
70–80% Repeat Rate: Loyal customers average 3–5 visits per month, fueling stable same-store sales.

The PE Sweet Spot: High-Value Exits

In early 2024, ICICI Ventures began marketing its 42% stake—acquired for $20 million in 2017—with expectations of fetching ~₹1,200 crore on a ₹2,800 crore valuation. Soon after, ChrysCapital emerged to acquire Theobroma and Belgian Waffle Co. in a combined deal valued at ₹3,200–3,500 crore—potentially one of India’s largest F&B cash exits and a 10× return for ICICI Ventures.

Key Takeaways for F&B Entrepreneurs

Turn Adversity into Opportunity: Personal setbacks can ignite purpose and resilience.
Authenticity Is Irreplaceable: Generational recipes and small-batch craft build deep brand loyalty.
Professionalize Early: Outsider leadership and governance frameworks enable scalable growth.
Hybrid Formats Win: Central kitchens + express outlets ensure consistency and rapid throughput.
Data-Driven Efficiency: Tech-enabled forecasting and procurement cut costs and waste.
Phased Expansion Pays: Validate in metros, then systematically conquer Tier 2/3 markets.
Strategic Capital Partnerships: PE investment can fuel rapid rollout and create high-value exit pathways.

Conclusion

Theobroma’s rise—from a ₹1 crore loan to a ₹3,500 crore acquisition target—proves that a blend of heartfelt craftsmanship, operational discipline and strategic capital can transform a small bakery into a national institution. For restaurateurs and F&B entrepreneurs, the recipe is straightforward: guard your authenticity, embed professional rigor, harness tech for scale, and expand with surgical precision. With these ingredients, you too can bake a dream that rises far beyond the oven’s heat.

Whether you’re launching your first concept or scaling a growing brand, BBFT offers the expertise and network to help you move forward with clarity and confidence. Connect with us to explore how we can support your journey in the ever-evolving F&B landscape.

Tags Affordable Franchise, bakery, BBFT, best F&B franchise India, BuildingBrandsFortomorrow, Foodfranchise, Franchise, theobroma