The food processing segment holds 30% to 35% of the Food and Beverages Industry in India. Food processing as an industry contributes to the GDP share of both Agriculture and Manufacturing sectors.
This particular industry segments includes a wide array of business types from basic food processing to value-added food processing and packaging. India has the advantage for exports because of its geographic location. With increased modernization and growing urbanization of rural area, the growth of this segments has resulted from higher demands and increased investments.
Welcome to Belgian Waffle Co.
Belgian Waffle Co. is owned and operated by Bloombay Enterprises LLP. It was founded by Shrey Aggarwal and Co-founded by Alisha Shirodkar in 2015 who are the designated partners. Belgian Waffle are one of the first entrants in specialty food businesses. They offer high quality waffles at affordable prices and have a reach in 55 cities in India with over 200 stores. They also have a presence in Nepal and Dubai.
They have over 150 franchisee partners which has managed to expand their reach to various location effectively and efficiently. The scalability and consistency of the business model has help to expand the business to its current size.
History of Bloombay Enterprises LLP and Belgian Waffle Co.
Bloombay Enterprises LLP was founded by Shrey Aggarwal and Alisha Shirodkar in Mumbai, India in 2015. The food service business operates under the Belgian Waffle Co. brand name. They started issuing franchisee licenses in 2018 which helped to accelerate their reach to various locations in India, Nepal and Dubai.
Since 2018 there are 150 franchisee locations of Belgian Waffle Co. Belgian Waffle Co. have a presence in most of the shopping mall food courts and various popular locations in 55 cities.
What are the unique selling points of Belgian Waffle Co.?
- Belgian Waffle Co. offers a unique specialty dessert option. The name is synonyms with high quality, on-the-go desserts across India.
- Belgian Waffle was one of the first in offering a specific product with the option of customizing the product to the customer’s taste.
- One of the most crucial Unique selling point of Belgian Waffle Co. is that they offer a specially formulated egg-less batter for their waffles. India is a country where large swaths of the population are vegetarian or do not include eggs in their diet, hence an egg-less batter doesn’t constrict the customer base.
- The Belgian Waffle brand has garnered enough name recognition to be easily identified and has an appeal to various demographics. The portability and convenience of accessing the food adds to its appeal.
- Bloombay Enterprises LLP are engaging and supportive as franchisors as they strive for their brand and the franchisee’s success. Their approach is customer oriented and offer an all inclusive guidance for the setup of the franchisees.
What are the benefits of owning a Belgian Waffle franchise in India?
Every franchisee offer that has been selected by the main office is given an all-inclusive support for the setup of the franchisee outlet. The support extends to designing of the store, operations training, marketing support, the product and its ingredients. They will also be provided with a manual which they can refer to in order to maintain standards.
One of the benefits of starting a franchisee of Belgian Waffle Co. is that the brand has widespread name recognition and accolades. It has been awarded the following:
- Best Waffle Restaurant (Dessert Parlor) – Mumbai Indian Restaurant Congress 2018
- Franchisor of the Year (Dessert Parlor) – Franchise India 2018
- Best Waffle Brand – Restaurant India 2018
- 2018 Certificate of Excellence -TripAvisor
- Franchise 100 India’s Top Franchise – Franchise India
- Top 100 Startups to watch in 2019 – Sutra HR
Increase in urbanization and increased disposable incomes of a larger portion of the Indian population will increase the customer base. This shows the prospect of maintaining a customer base and adding to that base in the future.
What are the requirements that make a potential owner eligible for a Belgian Waffle franchise in India?
What is the area required to set up a franchise?
The total area required to setup a Belgian Waffle franchise is 200 – 300 sq. ft. The store location is preferred to be in shopping mall or high street with ease of access for the customers. A commercial property is required for setting up the franchisee outlet.
What are the skills or experience required to own a Belgian Waffle franchise in India?
A person with little to no experience will be able to operate the simplistic business model of Belgian Waffle Co. A potential franchisee owner will be provided with a free two-week training in Mumbai where the expenses will be borne by the franchisor. The Franchisee owner should have the ability to maintain the quality of the product and service as it is crucial with maintaining the footfall of customers.
What are Belgian Waffle India’s regions of operation?
Belgian Waffles Co. operates in over 55 Cities in 26 states in India. The regions of operations are
- Central: Chhattisgarh, Madhya Pradesh, Bihar, Jharkhand
- North: Delhi, Haryana, Himachal Pradesh, Jammu and Kashmir, Punjab, Uttaranchal, Uttar Pradesh
- West: Gujarat, Rajasthan, Maharashtra, Goa
- East: Assam, Meghalaya, Mizoram, Tripura, Arunachal Pradesh, Manipur, Nagaland, West Bengal, Sikkim, Odisha
- South: Kerala, Karnataka, Tamil Nadu, Andhra Pradesh, Telangana
- Union Territories: Andaman and Nicobar, Pondicherry, Chandigarh, Lakshadweep, Daman and Diu
There are over 200 stores with 150 of them as franchisee outlets.
What is the training required to the staff members in a Belgian Waffle Franchise?
The franchise owner and the staff will be provided with training from the head office. The training will include:
- Current IT systems and how to operate them
- Expert guidance in opening of the franchisee store
- Field assistance with regards to designing of the store and setting up the operation.
The staff will also be required to keep inventory of the materials required to make the waffles and have a system to update and maintain stock. The staff will be trained to make waffles and have consistency in its presentation.
What is the minimum number of staff members required to run a franchise outlet?
The franchisee outlet will require one person to be in charge of making the waffles and one on the cash counter to cater to the customers. The number of staff will depend on the size of the outlet and the expected footfall. Depending on the demand in the area the store may have to hire more staff to maintain service and product standards.
What are the financial requirements to become eligible for a Belgian Waffle franchise in India?
The total amount of investment required to set up a franchise outlet ranges from 22 to 24 lakhs.
There is a Franchise fee of Rs. 8,00,000/- plus 18% GST
Bloombay Enterprises LLP take royalty fees as a percentage of the Gross Sales
- Gross Sales less than Rs. 5,00,000 à 8% plus applicable taxes
- Gross Sales Rs. 5,00,001 to 8,00,000 à 10% plus applicable taxes
- Gross Sales Rs. 8,00,001 & Above à 12.5% plus applicable taxes
There is a standard franchise agreement that needs to be signed along with 4 year term which can be renewed at the end of the term.
The profitability of the franchise can be further explained through a hypothetical example shown below.
Total investment made in Belgian Waffle franchise = Rs.32,00,000
Expenses incurred in a month
- Rent paid for a 300 Sq.ft area = Rs.1,70,000
- Salaries paid to 3 employees (Rs.15,000*3) = Rs.45,000
- Miscellaneous expenses incurred for the month = Rs.15,000
Total expenses incurred in a month = Rs.2,30,000
Income earned in a month
- The average footfall of customers in a day = 100 customers
- Average amount an individual spends in the store = Rs.500
- Total income earned in a day (100*Rs.500) = Rs.50,000
Total income earned in a month (Rs.50,000*30) = Rs.15,00,000
Gross profit for the month
Gross profit for the month (50% of Rs.15,00,000) = Rs.7,50,000
Royalty for the month
Royalty for the month (12.5% of Rs.15,00,000) = Rs.1,87,500
Total profit for the moth
Total profit earned in a month (Rs.7,50,000 – Rs.2,30,000 – Rs. 1,87,500) = Rs.3,32,500
You can get back your entire investment based on the profitability example within 9 to 12 months.
Conclusion
If you are passionate for food and think you can run a Belgian Waffle Co. franchisee then this is a great way of becoming an entrepreneur with a lower investment than most food outlet chains. The simplistic business is scalable and easy to operate. It brings higher returns on investment than most of its competitors in the market which offer franchisee options. The above article gives an in-depth analysis of all the important pointers that are required for you to become a potential franchise buyer. India is considered an emerging market and has proven to be a market with scope for positive growth in the coming years.
The Belgian Waffle Co. franchisee data as demonstrated in the above article shows the potential of any outlet in an area which offers easy access for the customers. The brand has name recognition across the country in every region which is one of the highlights of owning a franchisee as the owner will not need to establish a reputation for the business. This reduces the need for an extensive marketing campaign which can reduce the initial investment required by a potential franchisee owner.
The head office offers an all-inclusive support in setting up the franchisee and they help to guide the new store to open. The business model offered by Belgian Waffle Co. is sustainable and consistent which helps the customers and the franchisee owners. The guidelines given by the head office are very simple to follow help maintain the standard and practices across all outlets in the country.
This clearly shows that Belgian Waffle Co. has assured name recognition and will draw strong foothold all its outlets. The promise of a warm crisp waffle with a filling of your choice will draw customers to the outlets for an enriching experience. Bloombay Enterprises LLP has successfully open 150 Belgian Waffle Co. franchisee outlets since 2018. The company has proven to be a highly profitable investment opportunity for individuals with small investment capitals. The return on investment is approximately within a year and there is robust support from the head office.