A well-known restaurant franchise management company called the Yellow Tie Hospitality is in talks for acquisition of 5 Quick Service Restaurants (QSR) each year across various cities in order to increase their operations.
Mr. Karan Tanna, founder and chief executive of Yellow Tie Hospitality has said that they’re in the plans of investing a CapEx (Capital Expenditure Plan) of about ₹25 in order to acquire well-to-do brands.
Further to what he said, he added that they’ll be targeting cities like Siliguri and Vijayawada which hold potential for distinctive brands, yet they can be pushed to higher levels.
As per their plan of action, they’ve ascertained 3 brands namely - Umraan, Wok This Way, and Health Juice Centre. Additional plans for setting up 100 QSRs in the next 3 years are also well underway.
By the end of the year, they’ve estimated to open 15 outlets of Umraan, a kiosk and casual dining format, 15 outlets of Wok This Way, a kiosk and casual dining format and 25 outlets of Health Juice Centre, a kiosk.
He also added that an estimated value of ₹17 Crores has been allotted for acquiring and expanding these 3 brands.
Global Franchise Expansion
By the year 2019, Mr. Karan Tanna has said that the company would embark upon overseas operations by going into the global market expansion with Umraan in the Middle East and Wok This Way in South-East Asia.
At present, the company includes in-house brands such as Dhadoom, Twist of Tadka, BB Jaan along with exclusive license agreements for international brands which include Genuine Broaster Chicken from the U.S., Just Falafel from Dubai and Wrapchic from England.
More brands that are globally acclaimed are in plans of being roped in by the company to turn their franchise management into a master franchise organization. Mr. Karan Tanna further added that currently, they’re in talks to gain rights for an American Music Club Brand.