Quick Service Restaurant (QSR) chain Jumboking Foods, which operates burger chains, is expanding its store network and aims to double in every two years, said a top company official.
The vegetarian burger chain is expanding its presence in Delhi, Hyderabad and some other markets where it has recently entered, said Jumboking Foods founder and managing director Dheeraj Gupta.
“We have set for ourselves a pace for doubling every two years, that is a CAGR growth rate between 40-45 per cent,” Gupta told PTI.
The company presently operates about 120 stores and a majority (85 per cent) of them are based in Mumbai, he added.
Jumboking entered the Delhi market 8-9 months ago and has six stores here. It has also entered Hyderabad and has some presence in Lucknow.
The company, as per its strategy, would mainly focus on Delhi and Mumbai markets.
Asked about the potential of both markets for Jumboking, Gupta said: “It is a market of close to 800-1,000 stores.”
According to Gupta, Jumboking has now become the country’s third largest burger chain.
“Specifically, in Mumbai, we are in the top two in terms of a number of stores – second only to McDonald’s in terms of customer touchpoints,” he added.
Jumboking is in the middle of its pan-India expansions, said Gupta.
Over the sales/turnover, Gupta said it has an average business of Rs 80 lakh per store per year. Its entry-level burger is affordably priced at Rs 29.
Jumboking is a cent per cent franchise brand.
“We also have to keep upgrading the business ecosystem and offer more customer discovery for the brand,” he added.