New Delhi: Homegrown quick service restaurant (QSR) chain Burger Singh has charted out an aggressive expansion strategy that includes over 250 new stores and more than doubling its headcount to over 2,500 people by the end of fiscal 2025.
The company plans to raise $10 million next year to help fund the expansion, Burger Singh founder Kabir Jeet Singh told ET.
We are about to appoint one of the leading consulting, accounting firms as our investment banker for our Series B round,” he said.
Burger Singh currently employs around 1200 people and has 105 out lets cross the country It has not 50 outlets in the fit-out construction stage which will come up this fiscal.
Apart from hiring for outlets, the company will also hire for its head office “Most of the hiring for corporate roles (tech, marketing, etc) is from the IITs and other colleges,” Singh said.
To date, Burger Singh has raised a total of $10 million from several investors Including Ashish Dhawan (cofounder of ChrysCapital) and Rajesh Bothra of RB Investments Its series A funding was led by Ne pm Capitals with an investment of $3.6 million. The funds from the next round will be mostly used in setting up company owned stores across India and to enter more geographies in southern India. New destinations on cards include Chennai, Bengaluru, Hyderabad, Coimbatore, Kochi, Visakhapatnam, and Madurai.
Burger Singh is also looking at aggressively pushing its Burger Singh Express model under which smaller and agile outlets of 100 square feet will be set up in malls, metro stations, airports, hospitals, etc, Singh said.
Source- The Economic Times