Fast food franchise growth analysis in past few years

Fast foodfranchise sector has always shown unprecedented growth, but recent  years are extremely profitable for fast food service brands as consumers have developed constant eating-out habits. Companies have adopted innovative techniques to retain customers in competitive market. For example, metro cities in India is already filled with number of registered and unregistered players thus new fast food franchise operators need to implement extraordinary strategies to reach customers. Fast-changing consumption pattern influence fast food franchise sales and brand recognition. In order to compete with today’s market growth it is crucial to develop recipes that gives new taste to consumers.

Organised fast food business

The fast food industry has witnessed outstanding market growth due to increasing urbanization, changing lifestyle, and globalization. New fast food organizations focus mainly on marketing strategies to promote products at national and global markets. Rapid change in diets of young generation has created lots of business opportunities for fast food restaurant chains in metros, tier 2, tier 3 and semi-urban areas. By the year 2015, there were approx. 1000 organised fast food brands in India which is quite low as compared to 2017 i.e. approx. 2000. At present, fast food is a multitrillion dollar industry that offers amazing dishes to customers who want ready-to-eat food items. Box-o-burger has standardized Indian fast food sector through its high-quality services and wide range recipes. Young generation demand fast food due to busy schedule, everyday burgers, pizzas, sandwiches and French fries are effectively consumed by large number of people around the globe. In India, presence of various international brands in hi-tech cities is perfect example of how people working in corporate focus on fast foods. Fast food franchise sector is growing at annual rate of 30% and is expected to expand rapidly in coming years. QSR (quick service restaurants) format is highly in demand as youth want quick services.