The company seeks to launch branches in the major cities and then look forward to moving into II Tier and III Tier Cities in the next phase.
In its pre-seed round, the Delhi-based corporation THE BARBEQUE COMPANY secured $1.5 million from a group of angel investors. Harmandeep’s first restaurant, THE BARBEQUE COMPANY, opened in Janakpuri, New Delhi, in 2015. It is planning to use the funds to open more company-owned outlets. In addition, the company seeks to launch branches in the major cities and then look forward to moving into II Tier and III Tier Cities in the next phase.
Nitesh Agarwal who has led this fundraising round, invested the most out of all the others as he believed in THE BARBEQUE COMPANY’s possibilities and potential. As a revenue vertical it will also focus on opening some Express Outlets ( for Takeaways only) as the express model has already been tested by the owners and will be acquiring fresh talent and adding competent core members in order to achieve its overseas markets.
Commenting on the brand’s growth, Harmandeep Khurana, Founder and CEO of THE BARBEQUE COMPANY says, “Since the market is so broad, tiers 2, 3, and 4 remain unexplored by competitors, providing a premium experience. We intend to establish ten additional locations in the next few months, with a sales target of 50 crores, and Premium buffet will be the same price for customers but with no sacrifice on ambience”.
He emphasized customer experience and distinctive food in order to make it a success. He believes in exceeding the customer’s expectations in every manner. Through franchisees, THE BARBEQUE COMPANY is expanding its international exposure. According to Shashank, CMO, the decision to build the first location in Dubai is practically finalised.
Source: Business World