Jumboking Foods, the Quick Service Restaurant (QSR) chain that operates burger chains, is expanding its store network and aims to double every two years.
Jumboking Foods founder and managing director Dheeraj Gupta said that the vegetarian burger chain is expanding its presence in Delhi, Hyderabad and some other markets where it has recently entered.
The company presently operates about 120 stores, and a majority (85 per cent) of them are based in Mumbai, he added.
“We have set for ourselves a pace of doubling every two years, which is a CAGR growth rate of between 40 and 45 percent,” Gupta said.
Jumboking entered the Delhi market eight to nine months ago and has six stores here. It has also entered Hyderabad and has some presence in Lucknow.
The company, as per its strategy, would mainly focus on the Delhi and Mumbai markets. And with a market of close to 800-1,000 stores, Jumboking has now become the country’s third largest burger chain.
“Specifically, in Mumbai, we are in the top two in terms of the number of stores—second only to McDonald’s in terms of customer touch points,” he added.
Jumboking is in the middle of its Pan-India expansion, said Gupta. According to Gupta, the average annual revenue per store is Rs 80 lakh. Its entry-level burger is affordably priced at Rs 29. Jumboking is a wholly owned franchise.
“We also have to keep upgrading the business ecosystem and offer more customer discovery for the brand,” he added.