Goli Vada Pav, the Mumbai-based quick service restaurant chain, has chalked out plans to open 1,000 outlets across the country in the next five years.
Launched in 2004, Goli Vadapav currently has more than 320 outlets in 88 cities across 19 Indian states.
Speaking exclusively to Indiaretailing, Venkatesh Iyer, CEO & CMD Goli Vada Pav says, “We plan to open 1,000 units across the country in the next five years.”
The company has expanded through a franchise model till now. And the new stores will also be largely franchisee owned. “Our’s is a franchisee-driven model. In fact, our customers want to do business with us. Most of the Goli outlets are franchised by our customers,” Iyer explains.
“India’s huge population and easy-on-the-pocket prices of domestic QSR chains makes for a deadly combination. If not the entire billion plus population, Goli Vada Pav will be able to engage a fairly large chunk with its strong understanding of Indian tastes and preferences,” Iyer says.
The company’s fiscal 2015 turnover was in the range of Rs 50 crore, and is expected to grow at 30% Y-o-Y.
“With a 1,000-outlets target, we are expecting our sales turnover to touch Rs 350 crore in the next 3-5 years,” Iyer informs.