For expansion, bars and restaurants seek to non-metros.
Leading eateries and bars like Lord of the Drinks, Farzi Cafe, Social, and Imperfecto want to expand outside of the major metropolises, so live music, bars, and pubs will soon bring the party feel to Ranchi, Indore, Jabalpur, Raipur, and other similar smaller cities.
“There is no more room for growth in major metropolitan areas. There are virgin marketplaces where there is a lot of demand at the same moment. We have plans for Lucknow, Chandigarh, Indore, Jaipur, and Chandigarh in 2023 “The Imperfecto and Khubani series of restaurants are operated by Sharad Madan, a co-founder of Bel Cibo Hospitality.
In the country’s retail consumption, Chandigarh, Jaipur, Ahmedabad, Kochi, Thiruvananthapuram, Lucknow, Indore, Bhubaneshwar, Visakhapatnam, and Coimbatore will see fresh growth. “Smaller communities have begun to receive high-quality space as well, but residents there must travel to the neighbouring town to enjoy nightlife. Many bars have planned expansion since they saw this as an opportunity “SRED’s co-founder and retail consultant Shriram PM Monga made this statement.
Massive Restaurants, which operates under the brand names Farzi Cafe and Papaya, is pursuing smaller cities in a big way. “In fact, some of the best performing stores across the country are based out of non-metro cities. The response has been fantastic across many non-metro cities. There is a lot of spending propensity. However, avenues to spend are low,” said Zorawar Kalra, managing director, Massive Restaurants. The company plans to expand to 27 cities by the middle of 2023, from 22 cities at present, including Nagpur, Gwalior, Jabalpur, Bhopal, Indore, Raipur, Kanpur and Ahmedabad.
Experts said with good quality national brands coming in, the overall market seems to be expanding very rapidly. Sales and even average per cover are similar and, at times, higher as compared to metro cities, they said.
“Ranchi, Surat and Bhopal are some of the cities where we are taking our Lord of the Drinks and other brands. In addition, we are targeting tourist sites like Goa, Jaipur and Jim Corbett. We see a big opportunity in smaller cities and now space is also not a constraint there,” said Priyank Sukhija, CEO, First Fiddle restaurants.