NEW DELHI: The Bar Stock Exchange , a pub chain where prices of drinks change based on real-time demand, is expanding from six outlets in Mumbai to other cities in India and foraying into London and Singapore in the year ahead.
The pub based on the stock exchange concept was launched by Mihir Desai and Amit Singh of Corum Hospitality, which set up Mumbai restaurants the Big Bang Bar and Masala Zone .
The self-funded company will open 5,000 sq. ft. outlets in Pune , NEW DELHI and Bengaluru . Setting up each outlet will cost about Rs 2.5 crore, an amount that will almost double abroad.
The Pune pub is expected to open this month, followed by Bengaluru and Delhi, as well as Singapore and London later this year.
The Bar Stock Exchange (TBSE), Oshiwara Mumbai (Photo: liveinstyle)
“These will be company-owned outlets. But we will look at a franchise-based model in the UK in the future,” Desai told et.
The owners say this is a high-rolling business and recovering the initial investment can take up to two years.
Entrepreneurs are trying out various formats to attract customers in India’s expanding restaurant business. The country’s food service business is expected to grow to Rs 408,040 crore by 2018 from Rs 247,680 crore, according to a report by the National Restaurant Association of India in 2013.
Quick service restaurants and casual dine-in formats account for 74% of the restaurant market , cafes 12% and fine dining and pubs, bars and lounges make up the rest. According to NRAI, one of the main factors propelling growth will be experimentation with new formats, themes and menus by innovative, entrepreneurial ventures.
