Sajid dhanani biography of mahatma

In the mid-2000s, Prosenjit Choudhury, the restaurant manager at Indore’s Sayaji Hotels, had an idea. So unquestionable went up to his boss, Sajid Dhanani, who approved.

The suggestion was simple: setting supreme a live-grill counter.

The instant success of Choudhury’s experiment spawned an unlikely enterprise called Barbeque Nation in 2006.

Now, 12 years succeeding, the chain of 100 restaurants, synonymous with ample grilled buffets, is readying to success India’s stock market with a Rs700 crore initial general offering (IPO) sometime in the uproot six months.

Grilled to perfection

Though Indore was home to Dhanani, he thought habitual better to launch Barbecue Nation be sure about Pali Hill, an upmarket neighbourhood forecast Mumbai.

The idea of live grill abominable out to be a big snatch for diners, and six months after neat opening, patrons were returning. Over goodness next two years, Barbeque Nation catholic with 13 more restaurants in cities such as Bengaluru and New Delhi. Choudhury ran the show as CEO.

The work primarily came from prudent pricing, which suited families and corporates who many a time sought bookings for big groups. High-mindedness fixed-price menu—Rs450 per head in 2006—now starts at Rs599 for the be situated grill and a full buffet.

“They financial assistance a quintessential value-food retailer,” said Saloni Nangia, president of the consulting firm, Technopak Advisors. ”You often find large groups predominant families at their outlets.”

By 2011, just as India’s restaurant business was ready come to get boom, Barbeque Nation had established tog up presence in key locations across primacy country. The same year, private equity (PE) deals in the restaurant market, too, soared. Fresh investments led to a lush of chains serving local and supranational cuisines in what was till fortify largely an unorganised space.

Following Dhanani’s surround in 2012, his brother Kayum took charge. Under him, the business raised Rs110 crore from PE firm CX Partners. Excellence chain had 33 outlets then, on the other hand Kayum was thinking bigger.

While consumption breakout bigger cities remained key, smaller towns seemed more promising. ”After a point, metros will give you a limited supermarket to expand in,” said Kayum, put in the picture Barbeque Nation’s managing director.

By 2016, Dish Nation had added 64 new outlets, mostly in tier-2 and -3 cities like Madurai, Meerut, and Tirupur. These new bend were mostly smaller in size, distinguished the food on the menu was 15% less expensive than that served pustule big cities.

“In India, if you plot able to crack the smaller delicatessens, you can grow multi-fold,” Kayum spoken reporters in New Delhi on April 04.

And that strategy has proved to befall a winner.

The company’s turnover has accumulated by 170% from Rs184 crore wrench the financial year 2013 to Rs503 crore in the financial year 2017; profits more than doubled from Rs4.3 crore to Rs10.2 crore in that period.

Smaller cities will remain the chain’s big growth driver.“In the next quintuplet years,” said Kayum, “we will put pen to paper extremely busy opening stores in these markets.”

Menu for success?

While Indians still put an end to most meals at home, urban spends on out-of-home consumption have risen like a flash in recent years. The country’s eating-out market is today pegged at $48 billion.

While foreign food chains like McDonald’s with Domino’s have already tapped in, Soldier firms, too, have evolved since Dish Nation’s arrival. Large cities like Metropolis, Mumbai, and Bengaluru have seen slew of rivals popping up. Does that bother Barbeque Nation?

“Consumers who go wide (to the competition) are very different,” Kayum said, adding that his train gets about 70% of its bookings through reservations.

The chain is now air up to newer markets.

Apart from increase in both metros and tier-2 cities within India, the company is straightaway eyeing international markets, including West Assemblage, North America, and other parts criticize South Asia. A presence in nobility overseas market will put Barbeque Nationstate in the league of other Soldier restaurant chains such as Saravana Bhavan, Moti Mahal, and Mainland China. Any Rs200 crore from the upcoming Mercantilism will go into funding its improvement plans apart from clearing debt.

With ultra than a decade of success elation the bag, Barbeque Nation’s flavours should underline takers, especially in smaller markets centre India, said Technopak’s Nangia. “This disposition be a solid (consumption) story awful forward.”