Written By: Resham Daswani

With a noteworthy CAGR of 11.19 per cent, the food service market in India is projected to surpass USD 79.65 billion by 2028, representing robust growth over the forecast period.  This was highlighted in a news article recently.  So this projection itself is a highlighter for all those aspiring entrepreneurs out there, who want to put their foot into the food industry and own a restaurant franchise anywhere across the country today.

That’s where the experts at FranchiseBazar can help you.  Our blog is all about the restaurant business in India, how to get started with one of the most prominent restaurant franchises today - the Parampara flavours of India Restaurant Franchise, its cost, benefits associated with franchising this brand and how the market intends to grow in India this financial year.

So all aboard, let’s dive right in.

About Parampara Restaurant Franchise Opportunity in India

In the year 2020, immediately following the initial pandemic wave, the founder and Managing Director, Hitesh Bang, initiated the process of establishing this organization.  To stimulate all of your senses, this dining experience combines elements of traditional diversity with elements of current influences.

They provide the best of both worlds by offering a combination of sitting in the manner of Indian Rajwada and traditional tables through our services. A broad variety of cuisines, such as rajasthani, south indian, north indian, Chinese, continental, and Italian, are offered on our menu. These cuisines are presented in the form of thalis, buffets, and ala carte options.

Their Vision & Mission:

They believe that it is the right of every person who chooses to dine in a restaurant to receive the best possible service in addition to food that is hygienic, flavorful, and authentic, and to do so without having to pay an unfair price for it.

The mission of this foundation is to make fine dining accessible to every single Indian citizen without causing them to squander their financial resources.

Why You Should Invest In A Parampara Restaurant Franchise in India?

'Parampara– Flavours of India' is continuing with its expansion goals to expand deeper in Southern Markets and Pan India through the FOFO model. This comes after the company received a remarkable response and immense admiration in Hyderabad.

As a preferred Parampara Franchise Partner, you will need to complete the following requirements, following which read on to know what you will benefit.

• Investment range between INR 1-2 crores.
• Franchising Fee around INR 20 lakhs.
• Space area requirement between 3000-5000 square feet.
• Agreement period of around 5 years.

What you can expect?

• Average Returns on Investment of about 80-90%
• Payback period of anywhere between 18-20 months.
• Franchise Model - FOFO [Franchise Owned Franchise Operated]

Their Ideal Partner Should have:

• Raise capital for the restaurant's initial setup.
• Set aside sufficient time to put money into the company.
• Manage with a proactive mindset and learn the system's inner workings by taking the initiative.
• Order supplies, prepare paychecks, and handle discrepancies—all while juggling various tasks.
• Maintain fruitful dialogue with the company's most important constituents, including clients, suppliers, workers, and others.
• Work together with other franchisees to solve problems, exchange ideas, etc.

Market Drivers Enhancing the Growth Of The Fine Dining Restaurant Business in India

The restaurant industry is an essential component of the hospitality industry as a whole. Its primary focus is on the provision of food services and the provision of a venue for patrons to experience the pleasure of their meals.

The restaurant industry in India is not only thriving as a vibrant and dynamic sector, but it also reflects the different culinary traditions and gastronomic delights that are found throughout the country.

There is a great variety of regional cuisines in India, which results in a myriad of dining options. These options range from simple street food vendors to opulent fine dining places around the country.

Consumer preferences, technological developments, and societal transformations all contribute to the restaurant industry's perpetual evolution.

The following are significant trends that are influencing the restaurant industry:

1. Change in lifestyle and urbanization: Dining out has become more popular due to changing lifestyles and rapid urbanisation, especially in urban areas. The expansion of the restaurant industry is fueled by people's hectic schedules and their need for convenience.
2. Large youth population: People in India tend to be more open to exploring new foods and restaurants because of the country's big and young population. The demand for restaurants that offer various and innovative menu items has been driven up by this demographic trend.
3. Enhanced use of food delivery platforms: The expansion of food delivery services online has had a major effect on the restaurant industry. Restaurants that have partnerships with online food delivery services see an uptick in business because so many customers like the ease of this method.
4. Exposure of international cuisines: A greater fascination with cuisines from around the world has emerged as a result of people's increased contact with different cultures via travel and the media. Indian customers have shown a marked preference for restaurants serving fusion or traditional international cuisine.
5. Health Awareness: More and more people are concerned about their health and fitness, which has raised the need for nutritious meals. There has been a rise in the popularity of healthy, organic food options in restaurants.
6. Significant role of Social Media Platforms: Advertising restaurants and swaying customer decisions are two areas where social media platforms really shine. Restaurants thrive when their food is well-received, presented aesthetically, and promoted online.

Why Invest in a Restaurant Franchise in India in 2024?

Following the benefits that are associated with the growth of the restaurant business in India, it won’t be wrong to quote that the food business has been having a lucrative trend over the years. 

1. Joining a well-known restaurant franchise boosts brand awareness. This can save time and money on marketing and customer acquisition compared to opening an independent restaurant.
2. Franchisors usually have a successful model. They have improved operations, menus, and marketing, which can help franchisees succeed.
3. To boost productivity and customer satisfaction, established restaurant franchises invest in technology and innovation. These advances help franchisees without further investment.
4. Franchise agreements usually include exclusive areas to protect franchisees from direct competition with other brand franchises in a certain area. This can boost market security.
5. Compared to beginning a new restaurant from the ground up, franchisees may face less risk thanks to the well-known brand, support infrastructure, and proven business plan. To lessen the blow of venturing into unprofitable areas, franchisors might even lend a hand with market research.

Apart from these benefits, this is a franchise business which does not go out of season.  Also, this is a recession-proof business to enter, which keeps itself updated with the changes in the trends of the country.

Is it worth it to invest in a restaurant franchise in India?

Profitability of the food business or any other business is linked to a number of factors such as the location, brand awareness, market conditions and more.  Before venturing into the restaurant franchise industry it is advisable to seek guidance of franchising experts.

In order to be profitable, it is important to consider certain factors such as:

1. Strength of the brand you wish to invest in: Franchise brand strength and recognition can greatly effect restaurant business. Unknown brands may struggle in a competitive market, but well-known brands are more likely to attract customers.
2. Thorough market research: Market research is necessary to understand local demand, competition, and customer preferences. To adapt the menu and marketing methods, one must understand the target demographic and local culture.
3. Selection of the location: Restaurant location is crucial to success. Population, foot traffic, and proximity to competition can affect restaurant performance. A prominent, accessible position can boost profits.
4. Market trends and adaptability: The restaurant industry is dynamic, thus market trends are crucial. Franchisees should be flexible in cuisine, marketing, and operations to accommodate consumer demands.
5. Effective market promotion and advertising: Customer retention requires effective marketing and promotion. Franchisees should use franchisor support and local marketing to increase awareness and traffic.

To Conclude,

The Indian restaurant sector is about more than just filling bellies; it's also about savouring traditional dishes, trying out new flavours, and making memories. It highlights the nation's enthusiasm for delicious food and its rich cultural heritage.

The Indian restaurant business is a driving force behind the country's thriving culinary scene, thanks to its dedication to innovation and the quality of its cuisine.

For more on the latest restaurant franchises in India or how to start a fine dining restaurant anywhere in the country, reach out to us at FranchiseBazar.

Disclaimer: The brands mentioned in this blog are the recommendations provided by the author. FranchiseBAZAR does not claim to work with these brands / represent them / or are associated with them in any manner. Investors and prospective franchisees are to do their own due diligence before investing in any franchise business at their own risk and discretion. FranchiseBAZAR or its Directors disclaim any liability or risks arising out of any transactions that may take place due to the information provided in this blog.