New Delhi, Feb. 1
PROCESSED foods exporter, Hind Group, is diversifying into the fast food business. The company is launching a retail chain of restaurants under the "Fast Trax" banner across the country.
The company, which is toying with the idea of opening its outlets in different retail formats, has already opened an outlet in the Capital. The chain offers Indian snacks and deserts in a price range of Rs 29-90. Most of the outlets would take the form of small and Quick Service Restaurants (QSR)-type outlets, while the others would be in the dine-in format.
"The QSRs could be stand-alone stores as well. But currently, we are focussing on opening smaller format stores," Mr Samar Qureshi, Director, Fast Trax Food Pvt Ltd, Hind Group, said.
The group has invested Rs 5 crore so far and would invest around Rs 20 crore in opening its other outlets. "The investment would be funded by internal accruals and equity," Mr Samar Qureshi, said.
To begin with, the group would be concentrating on opening its QSRs in Delhi and NCR. With one outlet already functional in Delhi, plans are afoot to add 12 more restaurants by the year-end. Though the target group for the chain is 16-40-year-olds, the company aims to cater to the "entire family".
While so far, the company has not undertaken any significant marketing campaigns to promote the chain, the company is slated to crystallise its marketing strategies by the next financial year. On the competition from the established players in the sector, Mr Qureshi said: "There is enough room and space for more players in the segment. We hope to create a unique brand that caters to local needs and tastes."