Mumbai-based pub chain, Bar Stock Exchange, is expanding its outlets to other cities in India. With currently six outlets in Mumbai, the chain is expected to launch new outlets in Pune, New Delhi and Bengaluru. The chain will also push its brand internationally with new outlets in London and Singapore by the end of this year.
The pub, launched by Mihir Desai and Amit Singh, is based on the stock exchange format with drinks increasing or decreasing in price based on demand on that specific day. The launch of the pub in Pune is expected to take place this month, followed by the opening of outlets in New Delhi and Bengaluru. The international expansion in Singapore and London will follow later in the year. Speaking to Economic Times about the new launch, Mihir Desai said, “These will be company-owned outlets. But we will look at a franchise-based model in the UK in the future.”
Setting Up Franchise
The pub chain is part of Corum Hospitality, which also has Big Bang Bar and Masala Zone under its wing. The new outlets will cost nearly Rs. 2.5 crore to set up in India and will cost double that for outlets in UK and Singapore, according to ET. The new outlets in Pune, Delhi and Bangalore will have similar themes and menus as the Mumbai outlets and will be housed in nearly 5,000 sq.ft of space.
Although Quick Service Restaurants (QSR), Pubs and Fine Dining places are increasing in number, recently, according to a report published by ET, 80 restaurants in the country shut down due to lagging sales. Consumers have increasingly turned their attention to online food delivery platforms due to ease of use. According to NRAI, restaurants in the country have started to experiment with new concepts and themes to entice the consumers into spending their disposable income at their establishment.