Homegrown quick-service restaurant (QSR) chain, Burger Singh, is embarking on an ambitious expansion strategy that involves opening more than 250 new outlets and nearly doubling its workforce to over 2,500 employees by the close of fiscal year 2025. To facilitate this growth, the company intends to secure $10 million in funding next year.
Kabir Jeet Singh, the founder of Burger Singh, shared the company’s expansion plans. He stated, “We are in the process of selecting a prominent consulting and accounting firm to serve as our investment banker for our Series B round.”
Despite having sufficient funds for the next three years, Singh emphasized that raising capital is a time-consuming process. “Commencing the fundraising process in 2024 means that it will take an additional 8 to 10 months for the funds to become available,” he added.
Currently, Burger Singh has approximately 1,200 employees and operates 105 outlets throughout the country. An additional 50 outlets are in various stages of construction and are expected to open this fiscal year.
In addition to staffing its outlets, the company is also planning to expand its corporate team. Singh mentioned, “Most of our corporate hiring, including roles in technology and marketing, will be sourced from prestigious institutions like IITs and other colleges.”
Burger Singh has already secured a total of $10 million in funding from various investors, including Ashish Dhawan, co-founder of ChrysCapital, and Rajesh Bothra of RB Investments. Its Series A funding was led by Negen Capitals with an investment of $3.6 million.
The forthcoming funds from the Series B round will predominantly be utilized for establishing company-owned stores nationwide and for expanding into new regions in southern India. The list of new destinations includes Chennai, Bengaluru, Hyderabad, Coimbatore, Kochi, Visakhapatnam, and Madurai.
Moreover, Burger Singh is actively exploring the Burger Singh Express model, which focuses on setting up smaller and agile outlets spanning 100 square feet. These outlets will be strategically placed in malls, metro stations, airports, hospitals, and other high-traffic locations.