Dessert startup Scuzo aims to open 100 outlets across India by 2024. Seeing the growth in the category, it hopes to become the top company in the dessert segment. It currently maintains about 27 percent profit in its store segment and is able to keep its gross margin at 70 percent.
Anand shared that it aims to make all its franchise stores profitable in the coming months. The company also expects to more than double its revenue to Rs 10 crore in the next fiscal year, as opposed to Rs 4.60 crore so far in this fiscal year.
Seeing the growth in the category, it hopes to become the top company in the dessert segment. It currently maintains about 27 percent profit in its store segment and is able to keep its gross margin at 70 percent.
The firm said it focuses on hand-made gelato and natural products and uses processed fruits to maintain taste consistency in its products across outlets. Anand added, “We do not use oil and use fresh cream for making popsicles.
“On international market opportunities, Anand said it is easy to set up operations across any country as food and raw materials cost less. So it plans to enter the Canadian, UK, and UAE markets. The brand is currently present in 15 cities in about 15 franchise stores and has 3 company-owned stores. The company also shared that it is in talks with multiple venture capitalists to raise about $1 million in funding for its expansion.
Anand shared, “For starting a store, we do surveys in different regions. And we are already in the concluding stages of adding seven more store locations soon.” He also said the company will be investing Rs 2 crore in the next fiscal to open its manufacturing units in Guntur, Andhra Pradesh, and Rajkot, Gujarat. The dessert startup also tied up with Faasos to sell its product through its cloud kitchens.