Mumbai-based fast-food chain Jumboking Foods, plans to expand its footprint in the market aggressively by opening 60 more outlets in Mumbai, this year at an investment of Rs 100 million, according to a top company official.
“We will be opening 60 more Jumboking outlets in Mumbai in addition to the existing 40 by end-December 2009 at an overall investment of Rs 100 million,” said Dheeraj Gupta, managing director, Jumboking Foods.
Meanwhile, the company plans to follow the franchisee business model as it would bring in Rs 40 million, whereas, high networth individuals (HNIs) would invest the remaining Rs 60 million. “The HNIs could also become the franchisees,” added Gupta.
Further the company also plans to hire around 200 personnel for its proposed 40 stores. Also, JumboKing is looking to position its outlets at places having high footfalls including railway stations and malls.
Jumboking offerings are inspired by western models and apply the same to Indian food, especially its Maharashtrian speciality ‘vada-pav’. Concluded Gupta, “We hope to sell 80,000-1 lakh units after the new outlets are opened.”
— IndiaRetailing Bureau