Global Franchise Architects (GFA) has announced an aggressive expansion plan under which it plans to open a total of 40 stores across all its brands in India this year.
With a growth rate of over 25% in the last couple of years and having crossed the 100 store-mark in India this year, GFA shareholders are investing a whopping Rs 40 crore to support its initiatives. The brand that holds Pizza Corner, Donut Baker, Coffee World and Cream & Fudge, currently operates over 100 stores in the country, according to a press release issued by the company.
As a part of GFA’s forthcoming strategy, while Pizza Corner will largely grow through corporate stores, the franchising business model will continue. Sharing some key details until 2012, 75% of the Pizza Corner outlets have been opened under the franchise business model and the remaining are owned outlets. However, the strategy is taking a turn this year with plans of GFA owning at least 45% of its outlets and franchise the remaining. The investments will be prominently used to expand in South India.
Joseph Cherian, CEO, GFA, comments: “We have very recently put together an investment of Rs 40 crore which will be primarily channelised into opening up Pizza Corner stores in south India. We currently have over 100 stores in India and we are in the process of opening up 25 additional stores to the Pizza Corner portfolio this year. Cream N Fudge is also expanding and it will see some good growth this year. We will add about 10 more stores to the Cream N Fudge portfolio. GFA has established a loyal customer base with quality offerings that has helped its growth. We aim to continue this and build a very strong market share.”