As the Indian economy grows, the F&B segment is thriving at an unprecedented pace. The size of the Indian F&B industry is over USD 15 billion (in 2022 as per the analysis by The India Watch). Apart from key categories such as fine dining, casual dining, café & QSR, the pubs & restrobar segment is also growing fast in India.
The growing market for pubs and restrobar is rooted in multiple factors. India once a non-drinking nation is now witnessing a gradual shift in its socio-cultural spheres. Drinking and alcoholic beverages are now becoming part of day-to-lives. The taboos around alcohol are now lowering as Indian cities and towns are becoming more cosmopolitan.
Young demography & increased participation of women in the workforce coupled with the surge in corporates and start-ups are driving the demand. There is a visible appetite for nice & cozy places where people can sit, drink, and socialize. People are also using such premises to host personal and corporate parties, thereby further accelerating growth in the segment. The Indian millennials are also a key growth driver as they do not prefer to sit at their homes and drink. Rather they go out and prefer to party.
As the market is on an upswing, investor optimism is also on the rise. There is a growing interest in standalone units, bar chains, and franchised businesses. Both individual investors, as well as business houses, are showing interest.
International chains such as TGI (9 outlets) and Hardrock café (7 outlets) are betting on the Indian market, as they see strong future growth. Indigenous chains such as Delhi café Heights (30+ outlets) and Social (28 outlets) have also showcased commendable growth in recent years.
A jump in investor interest is also translating into the requirement for properly made project feasibility reports that cover all the aspects of the pubs and restrobar business. They can assist business owners to make informed decisions as well as help in reaching out to investors.
At The India Watch, we had a chance to work on a few such projects, and based on our experience mentioned below are ten steps needed to prepare such project feasibility report.
Mentioned below are the ten steps that can be helpful in preparing a project feasibility study of a restrobar in India.
If you are a business owner or an investor, looking to enter the space, feel free to connect with us for a feasibility study or a market research requirement. Drop us an email at firstname.lastname@example.org