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At a time when restaurant chains are busy raising private equity funds for expansion, Bistro Hospitality, which runs the restaurant chain TGI Friday India, is focusing on internal accruals.
Apart from changing the look of some of its outlets and adding new ones, the company is also exploring tier-2 markets. Rohan Jetley, CEO, TGI Friday India, said, “We hope to close the year with three new restaurants and add another three next year. We look to add four restaurants the year after. Overall, we look to add 10 new restaurants in three years.”
At present, the company runs 15 restaurants in India under a joint venture with the global owners of the chain. The chain is focusing on strengthening its presence in tier-1 markets and also exploring new markets in tier-2 cities such as Chandigarh and Jaipur. “It helps us create more efficiency by opening multiple restaurants in different catchment areas in the same city,” said Jetley.
On revamping the look of select restaurants, he said, “It was not mandatory. But, we feel it’s important to imbibe the new design as we continue to evolve,” he added. The restaurant chain, which has been focusing on value-tier menus to boost footfall in the past two years, claimed a rise of nearly 60 per cent in footfall in the lunch segment.
“The core of our revenue will always remain the a-la-carte menu. But these peripheral value tiers help us boost footfalls,” Jeltey said.
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