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Franchise Food &
QSR
Intelligence.

Strategic intelligence across quick service restaurant franchises, casual dining, food courts, cloud kitchens, and the franchise systems distributing food across Asia — for QSR brands evaluating expansion, franchise investors evaluating returns, food delivery platforms, and PE funds acquiring food franchise businesses.

65+
Franchise food engagements
12yr
Sector experience
8
QSR markets covered
$720M
Decisions supported
Coverage Areas

Every format in the
food franchise economy.

01 · International QSR Chains

Global QSR Brands & Consumer Preference

International QSR consumer preference research, price-value perception benchmarking, store economics by city tier, and competitive positioning for global QSR brands evaluating India expansion strategy and franchise territory allocation.

Consumer preferencePrice-value benchmarkingStore economics
02 · Indian QSR Brands

Domestic QSR, Chai & Snack Chains

Indian QSR consumer loyalty research, domestic vs international brand preference, chai and snack chain franchise economics, and competitive intelligence for India-origin QSR brands building franchise networks competing on localisation and price.

Domestic QSR loyaltyIndian vs intlChai chain economics
03 · Casual & Fast Casual Dining

Casual Dining Chains & Dine-In Formats

Consumer casual dining occasion mapping, fast casual format preference, average cheque benchmarking, and competitive intelligence for casual dining chains evaluating India expansion and dine-in format economics.

Occasion mappingFormat preferenceCheque benchmarking
04 · Cloud Kitchens & Ghost Brands

Cloud Kitchens, Dark Stores & Delivery-Only

Cloud kitchen economics by geography, ghost brand consumer awareness and repeat order rate, delivery platform exclusivity economics, and competitive intelligence for cloud kitchen operators and food delivery brands.

Cloud kitchen economicsGhost brand awarenessDelivery exclusivity
05 · Food Courts & Aggregated Food

Mall Food Courts, Food Halls & Aggregated Food

Food court consumer spending research, food hall premium positioning, operator economics and rental model benchmarking, and market entry intelligence for food court operators and mall developers.

Food court spendingFood hall premiumOperator economics
06 · Food Franchisee Investment

Franchise ROI & Franchisee Unit Economics

Franchisee unit economics by brand and city tier, franchise investment return benchmarking, franchisee churn dynamics, and intelligence for franchise investors and family offices evaluating QSR franchise as an alternative asset class.

Franchisee unit economicsReturn benchmarkingFranchisee churn

Questions we've answered for
franchise food clients.

These are actual questions clients bring to us — answered multiple times, across multiple geographies.

What is the real consumer preference between a global QSR brand and a well-positioned Indian QSR brand at the same price point in a Tier 2 Indian city — and what product category, price architecture, and store format allows an Indian QSR to take share from global incumbents?
We are evaluating a 50-store India franchise roll-out for a Southeast Asian casual dining brand. Which cities have the consumer profile, real estate economics, and supply chain infrastructure to make a new international restaurant brand work in years 1 through 3?
Our cloud kitchen business has 12 ghost brands and 3 physical locations. The physical locations are profitable and the cloud brands are not. Tell us whether we should kill the cloud brands, consolidate to the 2 or 3 strongest, or rethink whether the multi-brand cloud kitchen is the right model for our cost structure.
We are a PE fund acquiring a QSR franchise master franchisee holding 80 stores across 3 brands. How real is the franchisee economics at each brand, which royalty structures have renewal risk, and what is the supply chain dependency on the parent brand that creates cost control risk?
Who will own India's fast casual dining market in 2028 — international fast casual brands building India presence, domestic casual dining chains moving downmarket, or food delivery platforms launching exclusive delivery-first restaurant brands?
Our franchise food brand has 150 stores but 35% of franchisees are EBITDA negative. Tell us whether the problem is our royalty structure, location selection criteria, marketing support, supply chain economics, or the fact that we signed franchisees who lacked working capital to manage through the first 18 months.
Franchise Food Case Studies

Evidence of
decisions made better.

FR.01 · International QSR · India

India QSR Expansion: 100-Store Feasibility

Southeast Asian QSR brand evaluating India 100-store expansion. Consumer preference research across 10 cities, store economics benchmarking, real estate location analysis, and supply chain localisation assessment.

Phase 1 approved · 8-city rollout with 20 stores planned
Read Case Study
FR.02 · Cloud Kitchen · India

Cloud Kitchen Economics: Independent Research

Growth equity fund commissioning cloud kitchen unit economics verification. NEO ran operator cost structure benchmarking, consumer repeat order research, and delivery platform exclusivity economics.

Unit economics verified · Investment at revised assumptions
Read Case Study
FR.03 · Franchise Master · M&A DD

$75M QSR Master Franchise Acquisition DD

PE fund acquiring a QSR master franchise holding 80 stores. Franchisee economics verified through interviews, royalty renewal risk assessed, and supply chain dependency on parent brand quantified.

15 underperforming franchisees identified · Price adjusted
Read Case Study
Franchise Food Intelligence

Latest franchise food
thinking.

Market Report

India's QSR Market 2026: Consumer Preference Research, Store Economics by City Tier, and the International vs Domestic Brand Battle Reshaping How India Eats Fast

March 2026
Strategy Brief

Cloud Kitchens in India: The Unit Economics That Actually Work, the Ghost Brand Consumer Awareness Problem, and Why Multi-Brand Platforms Are Harder Than They Look on a Spreadsheet

January 2026
Due Diligence Note

QSR Franchise M&A DD: Franchisee Economics Verification, Royalty Renewal Risk, and the Supply Chain Dependency That Changes Your Cost Structure the Moment You Own It

November 2025
Franchise Food Practice Leadership

The team behind
the intelligence.

AK
Partner & Franchise Food Practice Lead
Ankit Kumar

14 years in QSR and food franchise strategy. Led 40+ market entry, franchise feasibility, and M&A mandates across international QSR, Indian food chains, cloud kitchens, and casual dining in South and Southeast Asia.

PM
Director — QSR & Fast Casual
Pooja Mehta

11 years of consumer preference research, store economics benchmarking, and franchise location analysis across India's quick service and casual dining market.

RS
Director — Cloud Kitchens & Franchise Investment
Rahul Singh

10 years in cloud kitchen and franchise investment research. Specialist in cloud kitchen unit economics, ghost brand consumer awareness, and QSR franchise return benchmarking.

A franchise food decision
you need to get right.
Brief the Franchise Food Practice →

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