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| Edited By: |Source: PTI |Updated: Mar 17, 2018, 05:11 AM IST
Vada pav-maker, Goli Vada Pav, plans a massive expansion by opening around 500 outlets pan-India and is eyeing a nearly 10-fold jump in its turnover at Rs180 crore over the next five-years, a top company official said.
Presently, the company has a 78 outlets-strong network and a turnover of Rs18 crore.
"Presently, we have 78 outlets, mostly concentrated in Maharashtra and Bangalore. Soon, we will enter the Chennai market," Goli Vada Pav's managing director and CEO, S Venkatesh, told PTI on the sidelines of the Idea Summit organised by Rotaract, in Mumbai.
The company is eyeing a Rs180 crore turnover once its 500 outlets are in place in the next five-years, he said, adding its new outlets would all be on the franchisee model.
The vada pav-retailer offers a range of vada pavs including palak makai tikki, cheese vada pav, veg cutlet pav, schezwan vada pav and aloo tikki pav.
"There is a huge demand for vada pav in today's fast-moving world. People prefer to eat something which they can hold in their hands while they are traveling or even working. Vada pav fits the bill perfectly," he said.
The company has tied-up with Vista Processed Foods, a subsidiary of US-based OSI Inc, to make vada pavs. Vista makes around one lakh patties everyday in its plant at Taloja, near Mumbai. OSI also makes burgers for the McDonald chain worldwide.
On future plans, Venkatesh said, "We want our product to reach every city. After Chennai, we will be signing contracts with our franchisees in Hyderabad, Delhi, Punjab and Rajasthan."
The company also harbours overseas plans.
"Once we achieve the target of 200 outlets, we plan to scout for partners in Dubai, the UK as well as Singapore. We are getting demands from these countries for tie-ups," he added.
