It has been over two decades since McDonald’s, Pizza Hut and Domino’s entered the Indian market and since then international QSRs have played a huge role in building the food services market. However, the last couple of years have been quite a challenge for them. New stores failing to yield the desired numbers and dwindling footfalls in older stores, has been leading to unimpressive single-digit or in some cases, negative same store growth (SSG) numbers. As a result, their profitability has taken a hit. Jubilant Foodworks saw its profit after tax decline by 34% from Rs.91.7 crore in nine months of FY16 to Rs.60.5 crore in nine months of FY17.
Getting them to bite
QSR chains such as McDonald's, KFC & Domino's are tweaking their recipe for growth
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