Biggies Burger eyes Mumbai expansion, expects 3X revenue in 2024

The brand plans to open 70 stores in Mumbai before venturing further into Maharashtra

New Delhi: Bengaluru-based quick service restaurant (QSR) company Biggies Burger plans to open 70 stores within the next 2.5 years, a top executive told IndiaRetailing.

“All the outlets will be in Mumbai,” co-founder Sandeep Satpathy said. The brand, which opened its first store in the country’s financial capital at RCity Mall last year, considers the city as an important market.

“We believe this vibrant city offers immense potential for our brand,” Satpathy said.

The brand also has plans to spread further in Maharashtra. “Our initial focus in Maharashtra will be on Mumbai and Pune, followed by the Vidarbha region,” said Satpathy explaining the company’s cluster approach for the state. The company’s long-term vision includes further expansion across the western region, but the immediate focus remains on Maharashtra.

Biggies Burger eyes Mumbai expansion, expects 3X revenue in 2024 — The company boasts a network of over 130 stores across 35 cities and 14 states in India

Proceeds from its recent pre-series A funding round (amount undisclosed) at a valuation of Rs 210 crore, will be used to fuel the expansion. Funds will also be used to bolster the team and market the brand.

“We are also considering a Series A round in future,” added Satpathy.

Started in 2011, Biggies positions itself as a value-focused establishment offering grilled burgers. It has also invested heavily in developing in-house proprietary grilling technology.

“We are constantly exploring technological advancements to enhance operational efficiency and customer experience. We have partnered with leading vendors to procure the best meat that cooks rapidly,” said Satpathy.

The company boasts a network of over 130 stores across 35 cities and 14 states in India. This includes the recent foray into the café segment with the launch of India’s largest burger café in Bengaluru.

“We are looking to add more stores in the café model soon. Going forward, we are committed to pan-India expansion, with a focus on major metropolitan cities like Mumbai, Bengaluru, Chennai, Hyderabad, and Kolkata during 2024-25,” said Satpathy.

The company clocked the highest revenue to date in 2023.

“We had a set target of reaching Rs 100 crore revenue by the end of Financial Year (FY) 2023. We crossed the same by September 2023 itself and went on to reach an annual recurring revenue (ARR) of Rs 104 crore,” said the entrepreneur adding that this year will be aimed at tripling the revenue fuelled by the recent fund infusion.

The brand also has international expansion plans for the long term. For now, it will focus on consolidating its domestic presence while parallelly exploring international opportunities. The company has set its sights on Singapore as a potential entry point into the international market.

The post Biggies Burger eyes Mumbai expansion, expects 3X revenue in 2024 appeared first on India Retailing.

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