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| GFA in expansion mode |
| Shahani Fatima / Chennai Aug 29, 2009, 00:43 IST |
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Switzerland-based retail brand franchiser Global Franchise Architects (GFA), which owns quick service restaurant chains including Pizza Corner, Donut Baker, Coffee World and Cream & Fudge Factory, is planning to expand its network to 100 stores by the end of the fiscal.
The chain, which operates predominantly in southern states, is now planning for a national footprint, according to Joseph Cherian, chief executive officer, GFA India. The company has tied up with Game Hospitality as the master franchisee for the eastern region. It is also on the look out for a partner to commence operations in the north, he said.
The new stores will be a combination of shop-in shops and exclusive formats, and will be across brands. A combo model to bring all the brands under one roof is also part of the expansion. “ We have one such store in Bangalore and will be opening another in Kolkata in October. As and when the ideal locations become available, we will expand this model,” he said.
To fund the expansion, the company is looking at raising funds through private equity firms though Cherian declined to comment on the amount needed for the expansion.
Typically, an express outlet will need Rs 20 lakh to Rs 22 lakh and a dine-in outlet will need Rs 70-90 lakh depending on the rental of the area.
The company, at present, has 62 Pizza Corner, eight Donut Baker, five Coffee World and four Cream & Fudge Factory. Around 65 per cent of the stores are company-owned while 38 of the 62 stores are express outlets. It also expects to bring one of its fine dining brand into India by early next year. Currently, only four of its 11 quick service restaurant brands are present in the country.
Cherian said they were going slow on the expansion front in the country due to their focus on Thailand and also foray into South Asian and African markets. “But now the rentals have dropped and it is the ideal time for large scale expansion.”
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