Project report for Restaurant
Project report for Restaurant is as follows
The food industry in India has been booming in the recent times, owing to the rising disposable income of the middle class. The Indian restaurant market was valued at Rs 20,400 crore in 2016 and is expected to grow to Rs 51,000 crore by 2021, according to industry body National Restaurant Association of India (NRAI). Quick service restaurants (QSR) like Pizza Hut, Burger King, Goli Wada Pav, Burger Singh, etc have been growing exponentially in the recent times.More Indians are slowly warming up to the idea of eating in restaurants, and not just for special occasions. Thanks to growing wages, urbanization and technology’s influence on consumption habits, foodservice sales in this country of USD 1.3 billion are growing at about 10% annually (making it one of the fastest-growing in the world). This growth is double the rate expected for the much more mature U.S. restaurant industry, and with a population quadruple the size. All told, between 2013 and 2021, the Indian restaurant market is projected to double. Many separate forces are at work in creating huge potential for restaurants in India. Its economy is among the fastest growing in the developing world; the International Monetary Fund projects the country’s annual GDP will increase by 7.4% through 2017 and 2018 — more than double the world average.
Product / Services & process
We offer all type of North Indian, South Indian cusines, Veg - No veg items ,Tea, snacks , coffee, juices and icecreams.
Market potential & Strategy
India is also one of the largest consumer markets globally, and one of the youngest with more than 45% of the population under 25 years old. For teens and young adults, eating out is a popular form of socializing, contributing to the growth of multiple segments within the expanding market. Disposable income is on the rise; the educated middle class is growing; and as the country grows more industrialized and cements its reputation as an IT hub, per capita income stands to grow as well. According to data from the Economist Intelligence Unit, personal disposable income should grow about 10.5% annually through 2020. India’s traditional close-knit extended families are less common; as younger family members move away for education and jobs, they are setting up smaller households, making dining out more attractive. More women are joining the workforce as well, especially in urban areas, leaving less time for home cooking and creating more demand for dining out/takeout options. We’ve seen similar spending trends in the U.S. though it’s worth noting that this will occur on an accelerated time frame in India (as Western systems have already been developed, they now only need to be implemented in other parts of the world, like India).