 "Amit Burman")
Lite Bite Foods, the restaurant chains business of the Burman family, is gearing up to expand its operations in the country. The firm is looking to double its store count and revenue by 2020.
According to Amit Burman, chairman of Lite Bite, it will add 40-50 outlets every year.
Burman has established the firm as a diversified food retail entity with 121 outlets under 27 brands spread across the country.
The firm is looking at 300-odd outlet presence and revenue in excess of Rs 500 crore by 2020. Apart from increasing the store count of its own brands by up to 20 stores a year, Lite Bite is working on growing its franchise outlets faster. The firm has some 13 franchise stores under brands such as KFC, Pizza Hut, Burger King and Subway at present. Burman says the company is ready to add up to 30 such stores every year from now on.
Keeping an eye on the profitability and viability of its stores, Burman has been careful while choosing their locations since the beginning. This came in handy in the recent years as the firm managed to maintain its same-store growth at 8-10 per cent at a time when most players in the sector struggled to increase sales.
The firm’s focus on capturing travel retail and locations such as airports, railway stations and office complexes, which get secured footfall has paid off.
Lite Bite, which caters to younger consumers, is launching an owned sub-brand called Punjab Grill Tappa. Burman says while his own restaurant brand Punjabi Grill is positioned as a fine-dining place, the new venture will create a new category of restaurant chains with Indian cuisine served in a healthier format.
“We are in a position to increase our footprint faster without any funding,” he said. But, choosing store locations is important. Places such as airports, railway stations and highways are key areas, apart from malls and office complexes, which Burman is eyeing. The firm is preparing to bid for new airports and modernised railway stations, which he believes will be crucial growth drivers for the firm in the coming years. Currently, it operates 11 stores in New Delhi, 34 in Mumbai and two in Jammu airports.
