“If you stop building stars, which we never do, you wouldn’t be in business. ”- (McMahon, 2010) Dreaming of big and successful businesses, would be a convenient task to do but when it comes to fulfill it, troubles, pain, hardships and hurdles are already in attendance to welcome. Starting up a business or even launching it in other countries is not as easy as it may sound. Choosing an industry, that matches ones interests and wants is definitely a thorny job. A slightest decision or choice made if goes wrong affects the whole business and its profitability especially when the purpose is to expand it internationally.
Taking a business from bottom to the peak is another tough job that’ can not be possible if proper guidance is not present. Many small organizations became huge after expanding there business internationally and now they are taken in the list of the top and the most successful organizations of the planet. All the success is not achieved in a day or month but wise and effective decisions and appropriate budget is needed to be there not only these but also the proper allocations of the finances help businesses in climbing up the ladder.
The expansion of the business is not only obliging to the entrepreneurs but also to those who work for the organization. Every person would desire to be associated with a company that has a name recognized internationally. As we are related to the fast food chain industry, and up till now we have opened up almost one hundred and thirteen franchises all around the country, due to which our organization has been able to make attractive profits and a good will among the general public.
This could’ve also be done in another way by increasing the number of food items we serve in our menu but again this way the business will remain to be in a limit of only a single country and on the second thought we already have a menu carrying more than hundred dishes covering almost all cuisines. The idea of launching our business world wide may sound a big and a tough step but it’ll help the organization to expand more and also gain recognition on an international level we have examples present around us like Mc Donald’s, KFC, Coffee Day, Domino’s and others.
The business will be able to maintain its good will among the international consumers. This is going to create an image of business success in the minds of people; besides this business expansion is usually seen as a prominent feature of the entrepreneur’s business efforts and also the efforts made by one to fulfill its vision. It’ll also help the business to increase the percentage of its share in the market. Not only will this but also assist our business to gain more capital through making more shareholders in the organization.
By expanding our business internationally we’ll be able to produce more customers. Opening up a franchise will result in hiring more employees to take care of the business. This will not only help us but also will create job opportunities for others, causing more interests of other people regarding the business. There will be certain incentives given to the business, like tax exemptions, permit to use of property, granting loans if needed and others. The chances of easily benefiting ourselves from the economies of scale will amplify.
To expand our business internationally all the strategies have been under gone. Having appropriate money for the expansion and also depicting the future of the business on an international level or how should we expand our business geographic wise or should the business line be extended? These are some important strategies made for a proper expansion of a business. (K, 2010) Keeping all these advantages in mind the idea is to introduce our fast food franchise in a developed country India.
The analysis and studies have shown that fat food industry there is booming at an extreme fast pace that is the fast food industry is flourishing by 40% per year. Studies have shown that today more than 10 million workers are employed only in the food preparation and serving all over the world and the employee turnover can grow up to 200%. (Fast food industry in India, 2009). Moreover our fast food restaurant will get a chance to pioneer in those specific dishes that we provide domestically only. The Indian food industry is expected to generate billions of dollars in the coming years.
No wonder the economy of India is growing incredibly giving chances to international business persons like us to expand our business in the lad of India. Fast food industry has been a blessing to Indian economy and is very much successful in financial ways and also in helping the quick service food to gain popularity among the citizens. (Shanker, 2010). We not only see the international organization flourishing there but also some big business tycoon’s have been generated from India like Tata Birla, Ambani and others renowned.
India positions second in agriculture yield, like foresting, logging and fishing all of this contributes 17% of the Indian GDP in 2009 a slight decrease in its share in GDP, yet is the largest economic sector and also acts a vital role in the socio economic development in India (CIA-2007) The access supply of raw materials to the fast food industry in this country is present; because of the changing climate its soil holds plant variety with almost 15000 species of higher plants (Paroda and Mal, 1989) because of this reason other international fast food chains are flooding into this country.
The home growing competition with other MNCs does have not only helped us in learning a lot of things but has also made us able to figure out our mistakes and improve them. We not only are improving inland but also that we have a number of people that are expertise in product development, quality standards and service levels. We have the best recruiters present in our organization. This way they’ll help in choosing the best management for us internationally. Coming up with a perfect and flawless franchise in another country will prominently give a tough competition to other fast food restraints.
In many Indian cities families have an exposure to western media and western cuisine further the trend of increasing trend of women joining the workforce will also help us in creating awareness about the western cuisine amongst others who are unaware. But usually the western media accomplishes its job in making them know about our dishes we serve. This way some of our dishes we offer to our customers will not be seem strange or weird to them and they’ll get easily comfortable with the food.
The economy of India has been eased up and most of the tariff and non tariff limitations are either lessened or have been completely removed from the country this has made possible for the international businesses to make their room in the Indian market. (Fast Food Industry in India, 2009) There are number of renowned MNC’s thinking India for their growth, and they are ready to bring upon changes on their menu according to Indian wants. KFC has amazingly increased the number of meals made of vegetables with receiving of 15% of its revenues on selling vegetable items. Mediratta, 2006) Not only this but Domino’s the global leader of pizza delivery, is now repositioning itself in dining out restaurants, as it doesn’t make sense to the staff of Domino’s to limit their business as a convenient delivery service provider (Kaul 2006) Hence it is important for all the big organizations generating successful businesses all over the world to bring up some changes and variations in their businesses according to the needs and desires of their customers. The customers are termed to be a key of success to such business.
But these days Indian food industry is on a shortage of food processing infrastructure, that’s why the government is offering the foreign entrepreneurs with tax reduction and subsidies. (Everyone’s invited, 2006) With a lot of advantages challenges are equally important and tough to face and our business too have to face these challenges. Dealing with no challenges there are hardly any business that is tend to flourish. Every business, be it small or big has to face the hardships. Opening up our fast food franchise in India sounds and definitely is productive but at the same time we are loaded with extreme challenges.
India is said to be the richest in culture and its traditions. There are many areas in India where eating at home is established centuries ago and the tradition is still carried on by the descendents. Creating the awareness of dining out with families and changing their eating habits is a slow moving procedure. Generally there are a set of people, Hindus and also non- Hindus who do not prefer eating meat or avoid all such meals that slow down the physical and spiritual development of a human body like garlic and onion (Fast Food Industry in India, 2009).
Considering their opinions and wants and to show the impact of their opinions is necessary yet will be challenging. As our customers always have been our first priority, maintaining our standards it has to be our responsibility to satisfy and delight them through our services and food of their wants. There are people who are now diverging themselves towards the fast food chains due to the western media’s exposure in Asian countries this is a helping hand t us but not exactly solve all our problems as there are some fundamentalists who turn out to be a difficult barrier to cover.
They provoke people to stand against such believes and force them to stick to their old eating habits. Dealing with such people and making them aware about our products will definitely be a difficult job to do. In addition to this, India has some strict labor laws because of which it slows down the creation of formal jobs in industries (BBC, 2005) As India is considered to be a hub of multi cultures there are people who belong to a culture where no dishes made of any kind of meat be it sea food or mutton or beef, their belief prohibits them to eat meals mad up of such meats.
Cow slaughter is banned in India where Hindus are in majority, it is because what their religion teaches them. Cow they believe is to be holy and they are found to be worshipping them. They consider the beefing process to be forbidden to them by in their religion not only this but according to them not only untouchables, but Indian Muslims and Christians do eat beef. In India cow-worshipping is said to be a vital part of Indian culture (Harris, 2010).
Our franchise shall operate in a distinguish way keeping in mind and taking care of all the barriers and limitations provided by the country. It has already mentioned above that customers are the main key to the success of any business, be it large or small. The franchise shall be opened up through out the day as India has an extreme night life in big cities and in such areas fast food culture prevails immensely.
Not only this will the prices menu and location all be according to the expediency of the Indian citizens. The menu like always will be diversified and for all the vegetarian lovers our menu will have a vast number of dishes cooked with vegetables. As some people are largely concerned about their meals, and if on the other hand they are against eating beef, for such people a separate vegetarian staff will be appointed so that they remain contended with the hygiene issues if they would have any.
Courtney from Study Moose
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