99 Pancakes, a QSR chain in the pancakes segment, is on an aggressive expansion spree via company-owned company-operated (COCO) and franchise models across different cities of India. The QSR chain plans to open more than 100 outlets in the next 18 months, taking the total number of outlets of the brand to 140-plus.
At present , 99 Pancakes has more than 40 outlets in over 10 cities, of which 22 are operating on the COCO model. As part of the expansion plans, the brand will invest approximately Rs. 20 crore, and enter markets such as Delhi, Bengaluru, Ahmedabad, Mumbai, Pune, Hyderabad, Chennai, Nagpur, Nashik, etc.
Aiming to aggressively expand its presence in tier II cities, the brand plans to open 10-12 outlets per city in the near future. Moreover, the company plans to raise funds and use them to open new outlets pan-India.
Vikesh Shah, founder, 99 Pancakes, said, “Since the inception of 99 Pancakes, the company has operated on a company-owned company-operated (COCO) and franchise model, which has worked really well for us. Looking at the prospects of growth in other regions of India, we wish to enter the untouched markets in collaboration with the master franchisees and retail franchisees. We will also invest in outlets that will be company owned and company operated.”
“We have always focused on the quality and the menu that we offer and intend to keep up to it in the future as well. Therefore, with our new partners also, we would be setting the SOPs in our menu, taste, and look and feel of the outlets. We aim to provide the same experience all across our outlets,” added Vikesh.
At present, the QSR chain has a presence in tier I and II cities such as Mumbai, Kolhapur, Varanasi, Surat, Prayagraj, Pune, Indore, Rewa, Hyderabad, Nashik and Raipur.
Last year in May, the company raised Rs 6.5 crore in a round of funding from a group of angel investors and currently is on a lookout again to raise funds.