99 Pancakes, a food service brand, plans to invest Rs. 15–16 crore to open 50 new stores and enter the FMCG (Fast Moving Consumer Goods) segment. This investment is part of their expansion plans for the current fiscal year. The founder, Vikesh Shah, mentioned that the brand initially had around 70 stores in 15 cities but had to reconsider its strategy due to the impact of COVID-19. They shifted to larger store formats and ceased franchising.
Currently, 99 Pancakes has 42 stores across 12 cities, with 22 of them being company-owned and operated. The brand is present in tier I and II cities such as Mumbai, Varanasi, Surat, and Raipur. They have hubs located in Mumbai and Hyderabad.
The company’s plans include expanding its presence in Tier II cities and opening 10–12 stores per city. They aim to open most of their stores on the high streets. Additionally, they are planning to raise funds, with 20% of the funds allocated for opening new stores and the remaining funds to be utilized for opening hubs in cities like Bengaluru, Delhi, and Hyderabad, as well as marketing activities.