The UK’s largest Indian restaurant franchise, Tiffinbites, has seen an impressive upturn in sales over the last two months despite the current economic climate. Although many are feeling the strain of the looming credit crunch, restaurant footfall has increased by 25 per cent and sales are up by a massive 40 per cent over the last six weeks.
Jamal Hirani, CEO and founder of Tiffinbites, attributes this to two factors: “Every Wednesday, Tiffinbites supplies food to the canteens of over 200 blue chip companies including Citigroup, Barclays and the BBC. Tiffin Wednesdays have been operating in offices from Inverness to Southampton since 2005. But since the economic slowdown, we have noticed an upturn in profits from canteen sales. Whereas many workers would normally go out for lunch, they are now choosing to save money by eating on site.
“In addition, when people do eat out, they want to know that they are getting good quality food at a reasonable price. Because of this, and the British public’s unwavering love of curry, the restaurant arm of the business, is perversely benefitting from the credit crunch.”
Recent figures* published by OC&C Strategy Consultants suggest that this trend will continue. In 2007 the casual dining market in the UK was worth £3.8bn. By 2011 this number is expected to reach £4.7bn. And with branded chains accounting for 30 per cent of the casual dining market, franchises like Tiffinbites will be the main beneficiaries.
Tiffinbites currently serves 250,000 meals a week in offices, universities, hospitals and across its restaurant sites. A rapid UK franchising programme was lunched in April 2008. Tiffinbites already has restaurants in Dubai and outlets can now be found in Selfridges as well as airport lounges.
Potential franchisees interested in finding out more should contact: Julie Waites at The Franchise Company on: Tel: 01325 251 455 / 07778 743517 Email: jw@franchisecompany.co.uk
The minimum investment level for a Tiffinbites franchise is £150,000 - Ends -
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