Written By: Resham Daswani

In India's culinary landscape, 2024 promises to be a year of culinary entrepreneurship like never before. As the nation's gastronomic diversity continues to evolve and consumer preferences shift, one trend remains constant: the love for delicious, convenient, and affordable food. This introduction sets the stage for a tantalizing exploration of the top 10 food franchises in India within the investment range of INR 5-10 lakhs.

These top 10 food franchises in India within the investment range of INR 5-10 lakhs are particularly appealing, as they strike a balance between accessibility and profitability. Entrepreneurs can leverage their capital to access a diverse range of food franchises, allowing for a broad spectrum of business possibilities. From well-established brands to homegrown culinary ventures, this segment offers a variety of options that can cater to different investment capacities, locations, and target audiences.

Here are the top 10 food franchises in India that fall between INR 5 and 10 lakhs in terms of investment, making them ideal for both seasoned investors trying to grow their portfolio and first-time entrepreneurs looking to explore the food business.

Top Food Franchises in India Between Rs 5-10 Lakhs

• Belgian Waffle

A popular food franchise that was founded in 2015, by Shrey Aggarwal and owned and operated by Bloombay Enterprises Pvt. Ltd.

It is a waffle speciality station that offers unique, on-the-go waffle sandwiches created with their specially formulated eggless batter and premium fillings. They also offers a variety of ready-to-eat cuisines, including pancake and waffle premixes.

The brand has won several awards, including the Franchisor of the Year “Dessert Category” award and the “Asia Food Innovation Awards". It has over 450 franchise stores across 160 Indian cities.

Investment Required: INR 5 lakhs-10 lakhs

• Delhi Belly Dhaba

It is a popular Indian restaurant brand that offers a modern twist and fusion of traditional Indian cuisine. It was founded by Chef Sagar Ghosh, who is known for his innovative approach to Indian cooking.

The brand's name, "Delhi Belly," is a playful reference to the 2011 Indian action comedy film of the same name. The restaurant's name reflects its commitment to providing a unique and enjoyable dining experience for its customers.

The brand is a top choice for people who want to try Indian cuisine in a novel and interesting way because of its emphasis on quality, trust, creativity as well as customer satisfaction.

The franchise provides an opportunity to expand to new locations with low investment and minimal risk.

Investment Required: INR 5 lakhs-10 lakhs

• Morya Misal

Founded in Pune in 2013, it is a popular Indian restaurant chain that specializes in Misal Pav, a traditional Maharashtrian dish, which is a spicy curry made with a combination of sprouts or moth beans (matki) and served with buns (pav). The buns are garnished, giving them an attractive and decorative look.

It is a pioneering food platform in the Maharashtrian fast-food industry. It offered more culinary items to its menu. The company's traditional cuisines are well-known which has a steady and expanding market  in the Indian food industry.

The endless servings of Misal and Pav at Morya Misal are one of its best features. During their visit, diners are free to indulge in as much Misal and Pav as they like.

Morya Misal has been expanding its presence and offers franchise opportunities in the Indian food market. The brand has an established supply chain and a dedicated team of food experts to maintain the taste and quality of its cuisine.

Investment Required: INR 5 lakhs-10 lakhs

• Michaels ice cream burger

It is a unique food concept that originated in New York, USA and is known for its one-of-a-kind ice cream burgers. It was launched by Varun Michael Sequeira, an energetic and creative businessman with a background in establishing and overseeing start-up ventures.

The brand has been recognized for its unique menu and business model, receiving an award from the President of India.

It has expanded its presence in various cities in India including some of the major cities, especially the tier-1 cities. The franchise offers several benefits, including zero wastage, no skilled labour requirements, and easy-to-operate food carts.

Investment Required: INR 5 lakhs-10 lakhs

• Mumbai chai

It is a popular tea and snacks franchise that offers a range of high-quality teas, cold beverages, and finger foods from the streets of Mumbai.

It is an emerging chain of micro cafes owned and operated by Waah Chai Private Limited (WCPL). The menu features a variety of chai made from export-quality tea leaves from Assam, Darjeeling, and Nilgiri, as well as high-quality spices from Kerala.

In addition to chai, the franchise offers a range of cold beverages, milkshakes, and ice teas, along with popular finger foods from Mumbai streets like Bun Maska, Vada Pav, Samosa Pav, Pav Bhaji, and Bhel.

The brand offers the franchise and has over 40 franchise outlets across 10+ cities, including Mumbai, MMRDA cities, Pune, and Mysuru. And is planning to expand it to 100 outlets in the next 6 months.

The brand offers two types of franchise models i.e. the average franchise model and the master franchise model.

Investment Required: INR 6 lakhs-7 lakhs

• Wow! Momo

It is an Indian chain of fast food restaurants that specializes in momos, momo-filled burgers (MoBurgs), and momo-based desserts. The brand was established in 2008 by St. Xavier's College alumni Sagar Daryani and Binod Homagai in Kolkata.

Initially, Wow! Momo started with a small 6x6 kiosk selling steamed momos, with only a single table and two part-time chefs. The founders' vision was to provide affordable and tasty food options, particularly for students, filling a gap in the market.

The brand has a strong presence with more than 500 outlets across multiple cities in India, employing over 5000 people. It follows the FOCO Model (Franchise Owned Company Operated), which means there won't be any royalty fees for franchisees.

The franchise offers a low-cost investment with a higher return compared to other fast-food franchises, making it a suitable option for small or medium-sized business owners.

Investment Required: INR 1 lakhs-8 lakhs

• Chick blast

It was established in 2009 and is a fast-food restaurant chain that specializes in grilled and fried chicken, gyros, and fresh salads.

It is one of India's fastest-growing fast-food businesses. The brand focuses on providing quality food loaded with delicacies at affordable prices.

The restaurant is dedicated to offering simple, health-consciously prepared menu items that are made to order and served at a blazing speed. The menu includes wraps, burgers, and fried chicken, with a focus on chicken and fish dishes.

Since its establishment, Chick Blast has experienced rapid growth and has become well-known for its delicious food and quick service. The brand offers franchise opportunities, allowing entrepreneurs to join its success story.

Investment required: INR 5 lakhs-10 lakhs

• Caramellas

It is a brand name under ISR Samruddhi Foods Pvt. Ltd., which owns a chain of 100% vegetarian bakery shops, serving its customers with delectable savouries since 2016. It started with a single shop in Kesnand, Pune, and has grown to become one of the best cake brands in the country, with several shops across the area.

The success of the brand is attributed to the inspiring vision of its founders, Indrajit Tupe, Rajesh Kotwal, and Samruddhi Tupe, as well as the support of the community. The brand's key principle is to make high-quality bakery products accessible and affordable to everyone.

Its menu includes a wide choice of delicious pastries, birthday cakes, fancy cakes for all occasions, puffs, rolls, sandwiches, and more.

The brand aims to establish extravagant and stylish franchises across the country, with a target of 80 grand franchises.

Investment Required: INR 5 lakhs-10 lakhs

• Rolls Nation

Established in 2015, by Uday Deep who wants to revolutionize the fast-food culture, who quit his job and started a Quick service restaurant (QSR) and bring Indian burritos i.e. Kolkata Kathi Rolls, a popular street food in India, to the plates.

Rolls Nation offers a variety of Kathi rolls, including vegetarian and non-vegetarian options. Some of the popular rolls include chicken tikka roll, paneer tikka roll, mutton seekh roll, and egg roll. The franchise is renowned for its unwavering commitment to flavour and quality.

Rolls Nation offers franchise opportunities for entrepreneurs who are interested in owning their own food business. The brand provides support and training to its franchisees and has more than 21 outlets across India.

The franchise has been recognized as one of the best and most affordable food franchises in India, making it a suitable option for aspiring entrepreneurs in the QSR industry.

Investment Required: INR 5 lakhs-10 lakhs

• Koorey's

It's a Juice Bar that focuses on providing fresh and nutritious juices, smoothies, and other healthy beverages. It is a brand that offers cold-pressed juices made with 100% fruits and vegetables, locally sourced when possible.

The brand is often inspired by the founders' personal experiences with health and wellness, as well as their passion for providing natural and nutritious options to their customers.

Koorey's is a growing franchise in India, providing a unique and profitable business opportunity. The franchise offers a variety of juice and smoothie options, catering to health-conscious customers.

Investment Required: INR 5 lakhs-10 lakhs

Market Prospects of Food Franchise Sector in India

The Indian franchise market is still young but accounts for close to 4% of the national GDP, with job creation estimated to be around 1 million in the franchise industry. The organized market or franchisees, including large and small format restaurants and cafes in the food and beverage (F&B) sector, account for 30% of the market.

Different segments of the Indian food service sector based on how much food is consumed include: street food (50%), quick food (30%), hip eateries (10%), and miscellaneous (10%). The Indian food service sector has been termed an engine for economic growth and development by the Federation of Indian Chambers of Commerce & Industry (FICCI).

In fiscal year 2020, the restaurant and food service business in India had a market value of approximately INR four trillion.

The food and beverage sector in India has tripled its growth rate in 2023 compared to 2022, post-COVID.

So, following all this data and current trends, it can be said that the future of the food franchise industry is moving in an upward direction.

In conclusion, the world of food franchises in India, particularly within the INR 5-10 lakhs investment range, is poised for remarkable growth and innovation in 2024. As we've explored the top 10 food franchises in this segment, it's evident that the culinary landscape of India is not just about flavours but also about fulfilling entrepreneurial dreams.

The Indian food franchise industry continues to flourish due to a combination of factors. Government policies promoting ease of doing business, a diverse and gastronomically adventurous population, and the growing trend of eating out or ordering in have created a fertile ground for food franchise investments.

Are you ready to embark on your journey into the thriving world of food franchises in India with an investment range of INR 5-10 lakhs in 2024? FranchiseBAZAR offers personalized assistance to help you navigate the complex world of franchising. We can help match you with a franchise that aligns with your goals, aspirations, and financial capacity.

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.