Chapter - 3 PROFILES OF COMPANIES

3.1 Introduction

Franchising began in 1850’s and gained its popularity when McDonald first

stepped in and built the most successful fast food franchise system in the world starting

in 1955. HIS Global Insight estimated that franchise business accounted for more than 3

percent of GDP of USA.

In India, due to privatization, globalization and rapid economic development,

Franchising has gained popularity and become mainstream business spanning different

industries like Food and Beverages, Apparels, Jewelers, Beauty, education, logistics, etc.

Preceding 10 years has been tough for franchising business due to lack of

understanding of Franchising business model and also government’s economic policies.

Despite that, there were few companies like NIIT and Aptech, which were successful

and led way to other aspiring entrepreneurs in India to take the franchising route.

Last five years there has been a shift in the trend with more and more franchisees

are coming up. Metros and Tier II cities and towns are growing at a phenomenal rate

especially in retail space and many of those are through the franchising model.

Andhra Pradesh has become Mecca of retail segment with every brand trying to

establish their foothold in Hyderabad, Vishakhapatnam, Vijayawada and Tirupati.

Brief profiles of 21 companies studied during the research are categorized below

and also the details about each company are covered in this chapter.

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Table 3.1 Categorization of Company Profiles

S. No Area of Business Company Name Count

1. Beauty VLCC 1

2. Apparels Raymonds Ltd., Peter England 2

3. Ice cream Parlor Baskin Robbins, Scoops 2

4. Fast Food Chain Domino’s Pizza, Subway, Mcdonald’s, KFC,

Pizza Hut, Pizza Corner

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5. Gifting & Greetings Archies Ltd. 1

6. Jewelers Tanishq, Joyalukkas India Pvt Ltd. 2

7. Mobiles Sangeetha Mobiles 1

8. Kitchen Products TTK Prestige Ltd. 1

9. Education Zee Learn Ltd., Euro Kids International Ltd. 2

10. Watches Titan Watches 1

11. Logistics DTDC Courier & Cargo Ltd., First Flight

Couriers Ltd.

2

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3.2 VLCC

The guiding vision as stated by VLCC Group is “Transforming Lives”. By which

they imply transforming self, spreading happiness and transforming future.

By redefining wellness, VLCC revolutionized the beauty industry and acquired

the status of being India’s largest health and beauty brand. Today VLCC is the single

largest player in the organized sector with a pan-India presence of nearly 225 outlets

across 75 cities and one in Kathmandu, Nepal, eight locations in UAE, one in Oman and

one in Bahrain.

The company was founded in 1989 and went into franchise business in the year

2007. The Company Owned stores are 160 and 65 Franchises and with a turn-over of

₹700 million.

The VLCC Group is a ‘Super brand’ and serves as an umbrella for all its other

brands like VLCC Health Care Ltd., VLCC Personal Care Ltd. and VLCC Institute of

Beauty, Health and Management. VLCC tries to provide holistic wellness, as a service,

by combining scientific research and traditional therapies.

VLCC has customer base of over a million and an iconic status across the world.

It is India’s largest and most preferred Slimming, Beauty & Health brand.

3.3 RAYMOND LIMITED

They are into Fabrics, garments, designer wear, denim, cosmetics and toiletries,

engineering files & tools, prophylactics and air charter services.

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The Raymond Group was incorporated in 1925 and within a span of a few years,

managed to transform an Indian textile major to a global conglomerate with presence in

many oversees countries.

Raymond’s is one of the largest network with over 700 retail shops across India

and overseas, in over 200 cities. The turnover of the company is ₹13.39

billion (US$200 million) (FY 2010). During FY 2013, against the backdrop of an

extremely challenging business environment, the Company reported a top-line growth of

8.5% over the previous year.

In their endeavor to keep nurturing quality and leadership, they always choose

the path untaken. Today, the Raymond group is vertically and horizontally integrated to

provide customers’ total textile solutions. Few companies globally have such a diverse

product range of nearly 20,000 varieties of worsted suiting to cater to customers across

various age groups, occasions and styles.

Raymond group today is one of the largest players in fabrics, designer wear,

denim, cosmetics & toiletries. All their plants are ISO certified and they leverage on

cutting-edge technology that brings in highest quality parameters, while also being

environmentally conscious.

Raymond Apparel Ltd. has some of the most highly regarded apparel brands in

India (Raymond Premium Apparel, Park Avenue, Parx and Notting Hill). It has an

efficient franchise network which keeps the investment in check while expanding

quickly. The new formats are smaller, 500 sq. ft. stores. Currently, the outlets are

typically larger, at 1,200-1,500 sq. ft. and above.

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3.4 BASKIN ROBBINS

Baskin Robbins is the largest chain of ice cream shops in the world. Baskin

Robbins creates and markets innovative, premium ice cream, frozen desserts and

beverages, providing quality and value to consumers.

The company was founded in 1945 in Glendale, California, USA. They went into

franchise business in 1948 in USA and 1993 in Mumbai, India through Graviss Food

Pvt. Ltd. They have 421 outlets in 95 cities across India. Their Indian turnover in year

2012 was $34.9 million.

Over all, they have grown through franchise model not only in USA but across

the world and are one of the most loved ice cream brands in the world. The power of the

Baskin Robbins brand is truly a competitive advantage. Customers buy with confidence

knowing they are dealing with ice cream specialists.

Their multi-store development strategy worked well for their franchisees as the

Baskin Robbins brand gained greater momentum in the areas where stores were

launched in quick succession, in high to mid-market residential populations along with

high street locations and in areas with good parking.

3.5 DOMINO’S PIZZA

Domino’s Pizza is recognised as the world's leading pizza delivery company

operating a network of company-owned and franchise-owned restaurants in United

States and International market.

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It was founded in 1960 in Michigan, USA. They went into franchise business in

India 1997 through Jubilant Food Works. They have 600 outlets in 30 cities and a

turnover of ₹1,407.6 crore in year 2012.

Domino’s Pizza’s vision illustrates a company of exceptional people on a

mission to be the best Pizza delivery company in the world. Domino’s Pizza

franchise has earned the reputation of being one of the fast growing food chains in South

Asia. The fast food franchise is all set to make the complete use of its potential market in

India, where eating out is also a means of entertainment.

3.6 SUBWAY

This is the largest international sandwich franchise that offers a great opportunity

to grow the business globally.

It was founded in Fresno, California in 1978. They ventured into franchise

business in India in 2001 as Subway Systems India Pvt. Ltd. They have 395 Subway

restaurants in 68 cities of India as of January 2013. Their turnover is $15.2

billion, worldwide and ₹ 275 Crores in India.

Subway’s healthier food and simple operations have helped them to grow the

Subway franchise to over 22,000 locations in 78 countries. In a fast food group, the

franchise Entrepreneur Magazine consistently ranks Subway as the number one

franchise under sandwich category. Subway states that their strategy for growth and

expansion globally is through formulating unique value proposition, targeting an under-

served customer segment and structuring an aggressive franchising model.

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3.7 ARCHIES LIMITED

Archies Limited (earlier called Archies Greetings and Gifts Ltd.) is an Indian

company based in New Delhi.

It was started in 1979 by Anil Moolchandani. Archies Limited is in the business

of manufacturing and selling greeting cards and other social expression products such as

gifts and posters. Archies has a market share of about 50% of India's greeting cards

market. It has about 2000 outlets and franchisees, called Archies Galleries, spread across

120 cities and 6 countries. The revenue of the company is ₹ 140 cores.

By introducing organized franchising, Archies grew by leaps and bounds. By

mid 1990s, the brand had not only become a public limited company, but it had also

established itself as a clear leader. As the market environment continued to evolve and

internet became an important aspect of urban life, Archies kept pace by introducing e-

cards and offering online gifting opportunities through its e-commerce.

It has tie-ups and licensing arrangements for merchandising popular characters

from Disney characters. It has arrangements with Paramount Cards Inc., Anne Geddes,

and American Greetings, for greeting card design and also for their name use.

3.8 TANISHQ

Operated by Titan Industries Franchise, Tanishq is one of the three jewellery

brands, others being Zoya and GoldPlus. Tanishq is India’s largest, most desirable and

fastest growing jewellery brand.

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The company was founded in 1994 and they ventured into Franchise business in

1996. They have 150 stores by year 2012 and a turnover of ₹7,064 Crores (FY 2012).

Tanishq stands out as a brand that abides by values of trustworthiness, credibility

and respect for customers. The power of the brand was further enhanced with the

introduction of karatmeters, a tool that helped customer’s gauges the quality of their

gold in every Tanishq outlet there by increasing the trust quotient.

The fact that it belongs to the Tata family assures the customer that with Tanishq,

they are assured of quality product. Tanishq retail identity has evolved over the years to

offer large format and concept stores that reflect the brand’s philosophy of being

“Revitalizer of Tradition”. Tanishq has started expanding globally and have opened two

pilot stores at Chicago and New Jersey in USA with a retail format of 1,800-2,000 Sqft.

Currently, the average store-size for Tanishq is 1,000-1,500 sq. ft. The stores operate on

the franchise model.

3.9 McDONALD’S

McDonald’s is a market leader in the fast food industry. McDonald’s has a very

strong brand image.

It was founded in 1937 in Oak Park, Illinois, USA. McDonald’s first franchised

restaurant opened at Des Plaines, Illinois in 1955 by the founder Ray Kroc. McDonald’s

entry to India involved a combination of joint venture and franchising model. It entered

the Indian market in 1996 as a joint venture (JV) with two local partners – Hardcastle

Restaurants Private Ltd. in western India, and Connaught Plaza Restaurants Private Ltd.

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in northern India. It currently has 300 restaurants in India of which 145 are in North &

East India and 155 in West & South India. In the years 2010 and 2011 McDonalds

opened 80 stores in India. In 2010 McDonald’s sales improved by 30%.

In India, it has a turnover of ₹ 400 cores in year 2010 and expected to grow at

the rate of 23% yearly.

Their world-wide operations are aligned around a global strategy called the Plan

to Win, which centre on an exceptional customer experience like People, Products,

Place, Price and Promotion. They are committed to continuously improve their

operations and enhance their customers' experience. They have been quite successful in

their drive.

McDonald’s all over the world has almost 85% of franchises and the benefit they

got of franchising is that, in short period they could expand their business. As

McDonald’s USP is having a customized menu in India, thereby getting popular day by

day. Their performance in India can be measured in terms of number of outlets being

opened by McDonald’s every month.

3.10 PETER ENGLAND

Peter England is one of the largest mid-priced menswear brands in India selling

over five million garments every year. Today, Owned by Madura Garments, the retail

arm of Aditya Birla Group’s garment division.

Peter England has a strong presence in India covering all important retail cities

and towns with 580 exclusive stores and over 1600 multi-brand outlets in more than 250

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towns. Peter England, the high street menswear brand that specializes in shirts and pants

to have 1,000 stores by 2013 (from 580 stores now).

The company states that their target and roll out plan would focus on franchisee

models and of the total; two-thirds would be franchisees and the rest company-owned.

This would enable the brand to focus on major thrust areas such as product

enhancement, retail and marketing strategies. In FY 2012, their revenues stood at ₹630

cores.

3.11 SANGEETHA MOBILES

Sangeetha Mobiles is in the business of retailing mobile phones, smart phones

along with Tablet devices and associated accessories of leading phone manufactures like

Sony, Apple, Samsung, and Nokia along with Indian brands like Micromax, Spice,

Celkon etc.

Sangeetha mobiles have 180 outlets in India that keeps growing by the day and

arguably will become the first Indian retailer in its category to enter foreign shores.

The company sells just fewer than 100,000 phones a month and had a turnover of

INR 520 cores last fiscal year. In the year 2013, they have targeted for Rs 900 cores in

revenues, which happens to be almost 100 per cent growth and they are likely to achieve

the target.

They have been pioneers in mobile handset business and carry unique

proposition of insuring mobile phones, from theft and servicing phones by picking and

delivering them at customer doorstep.

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3.12 SCOOPS

Scoops are in the business of Ice creams and have successfully achieved a

reputable brand name in circles such as Andhra Pradesh, Karnataka and Maharashtra.

They have a vision to expand in many other circles in the country and be one of the best

ice cream brands which is affordable for all.

The Scoops brand of Ice creams was introduced in 1989 by the Haridwar Group

as a strategy to introduce quality ice cream exclusively at their group of hotels. The

immense popularity of the brand earned in the early period of its introduction and laid

the foundation for what was to be a truly remarkable story of success and sweetness.

With innovative strategies such as "Near to Customer" and "Dear to

Dealer" Scoops has been able to market its products effectively. They have partnership

with South Central Railways, the Taj Group of Hotels, the ITC group and numerous

other hotels and also their stores entered in frequently visited public places.

As part of business strategy they took to the franchising route, which could make

them have various exclusive Scoops outlets. This enabled Scoops to capture a significant

market share and has now become the undisputed leader in the super premium Ice

Cream segment. The world-class production techniques and machinery that has been

brought from Italy has further strengthened the quality of the ice cream products and

also increased the production capacity. This up-gradation of plan and machinery has

given them significant advantage in producing more number of ice creams per day with

new flavors which are of customer taste.

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3.13 TTK PRESTIGE LIMITED

TTK Prestige Limited (TTKP) is the flagship company of TTK Group,

positioned as one of the leading kitchen appliances company in India. TTKP

commenced operations as a traditional pressure cooker manufacturer, and has since

evolved into a ‘Total Kitchen Solutions’ company offering wide range of products

spanning pressure cookers, non-stick cookware, kitchen hoods (chimneys), hobs, gas

stoves and several other kitchen electrical appliances.

They incorporated in 1955 and they have a wide distribution network comprising

of over 25,000 direct dealers further supported by 300+ Prestige Smart Kitchen network

outlets spread across 21 states. The company is run by third-generation entrepreneur,

Mr. T.T. Jagannathan and turnover of ₹1,100 cores.

While the company’s traditional product segments (pressure cookers and

cookware) continue to contribute to majority of TTKP’s revenues, over the years, non-

traditional product segments such as kitchen electrical appliances and gas stoves have

displayed a strong growth momentum.

Recently, TTKP has also forayed into modular kitchens, wherein the company

offers kitchen designs and fittings based on customer requirements.

The company markets and sells its products through direct dealers, authorized

re-sellers (in small towns), modern retail stores and institutional clients. The Smart

Kitchens are operated through the franchise model. The company also has launched

large format stores ‘Prestige Kitchen Boutique’ and ‘Prestige Life Style’ to market its

modular kitchen range and high-value products respectively. The company has three

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manufacturing facilities located at Hosur, Coimbatore (in Tamil Nadu) and Roorkee (in

Uttarakhand) and is planning to set-up a green field manufacturing facility primarily for

non-stick cookware in Gujarat.

3.14 ZEE LEARN LIMITED

Zee Learn is one of the leading companies in the field of Core Education in India

which has the fastest growing chain of K-12 schools and India’s No 1 chain of pre-

schools in its portfolio.

It was founded as a part of Essel group in 2010. Zee Learn has over 1250 centers.

They have created the fastest growing chain of schools in India, called Mount Litera Zee

School (MLZS). In a short span of five years they have a total of 135 schools under K-

12 category with a franchise network over 100 cities. They have a turnover of ₹ 107.76

cores as of March 31st 2013.

Zee Learn also runs India's No. 1 chain of pre-schools, Kidzee with more than

900+ pre-schools in more than 330+ cities. Kidzee is leader in organized and

standardized pre-schooling in India. Kidzee has more than 200,000 children enrolled

since its inception in 2003 in these concept preschools. With the available information

for FY 2010-11, Kidzee has seen enrollment of more than 36,000 students.

Enabled by its extensive experience in understanding of education and learning,

Zee Learn is extending its services to other schools also. Zee Learn School

Innovations works with existing schools to improve their student outcomes and

efficiency through a School Audit that identifies improvement areas.

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Zee Learn is also collaborating with Gakken Education Co. with an aim to bring

the best of Japanese education in the field of science to schools in India. The Brain

Café intends to improve conceptual understanding and develop scientific temper

amongst students by providing hands on experiment tools. Zee Learn was the first in

bringing franchising model to the preschools segment and successfully executed it.

3.15 KFC CORPORATION

KFC outlets prepare and sell chicken, snackables and other approved menu items

using certain trademarks and trade secrets owned by KFC Corporation. The franchiser

is KFC Corporation (KFCC) whose parent is YUM! Brands, Inc.

KFC was incorporated in the year 1939 and have its operational headquarters at

Louisville, Kentucky U.S.A. There are more than 15,000 KFC outlets in 105 countries

and territories around the world which were established through franchising route very

successfully. They ventured into franchise business in Utah, USA in 1952. They have

296 KFC outlets in India as of September 2013 and the turnover is $1.6 billion.

The Franchisee operates a KFC outlet, which is characterized by a unique system

which includes special recipes and menu items, distinctive design, décor and

furnishings, specifications and procedures for operations procedures for quality control;

training and assistance; and advertising and promotion of KFC’s fast food chains have

become very popular in India, especially among young Indians. KFC has changed their

menus to suit Indian consumer’s tastes. They also have innovated fast foods for

vegetarian customers in India who are in majority.

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3.16 PIZZA HUT

Pizza Hut is the leading global pizza franchise, selling Pizzas, Pasta’s & Sides

including their signature “Pan Pizza’s. Pizza Hut is part of the quick service restaurant

giant, Yum! Restaurants International (YRI), which includes the world-famous brands

KFC and Taco Bell.

Pizza Hut was founded in 1958 Wichita, Kansas. USA. Pizza Hut is split into

several different restaurant formats; the original family-style dine-in locations; store

front delivery and carry-out locations; and hybrid locations that offer carry-out, delivery,

and dine-in options. Many full-size Pizza Hut locations offer lunch buffet, with

attractive for cost conscious customers with "all-you-can-eat" pizza, salad, bread sticks,

and a special pasta. Additionally, Pizza Hut also has a number of other business

concepts that are different from the store type; Pizza Hut "Bistro" locations are "Red

Roofs" which offer an expanded menu and slightly more upscale options. Pizza Hut

takes franchisee recruitment very seriously and they see that franchisees as business

partners and look to encourage a ‘one system’ approach in all what they do. They want a

network of successful franchise partners who could demonstrate their approach in its

entirety. Turnover in 2012 was ₹4 billion.

3.17 EURO KIDS INTERNATIONAL LIMITED

Euro Kids operates in the pre-schooling, primary schooling and children book

publishing segment of the education sector. The company’s major brands include Euro

Kids, Euro School, Euro Books and Euro Kids Saplings. The business model of the

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company describes the rationale of how it creates, delivers, and captures value through

its service offerings.

The company was founded in 1997 but launched the Euro Kids brand 2001.

Presently, Euro kids has well established network comprising 880 preschools out of

which 23 are company-owned and rest are all franchised. The turnover is ₹100 cores.

Eurokids had been the first to develop a structured content and pedagogy in the

pre-school space in India. It is, thus, the pioneer and the largest preschool chain in India

today.

3.18 JOYALUKKAS INDIA PVT LIMITED

Currently the Joyalukkas Group operations include Jewelry, Money Exchange,

Luxury Air Charter, Fashion, Silks and Malls. The Group’s vision is to ‘enhance

lifestyle of its customers’ and all businesses group currently involved in work towards

their vision.

The Joyalukkas Group has rapidly expanded its foothold all over the globe The

company was founded 1987 in Abu Dhabi and the first Indian branch started in 2001 in

Kochi in Kerala. Joyalukkas operates it franchisee business through Joyalukkas traders

(India) Pvt. Ltd. locally and overseas. They ventured into franchise business in 2002.

They have 91 stores in the world with 40 in India. The group turnover in 2012 is

₹10,000 cores.

The Group has grown tremendously, with over 10 million customers, employing

a highly committed and satisfied team of over 5,000 people in nine countries. The

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success story of Joyalukkas has been driven by an unstinting commitment to quality,

which brings in repeat customers.

Joyalukkas jewellery was the first jewellery retailer to be awarded the prestigious

ISO 9001:2008 and 14001:2004 certification.

3.19 TITAN WATCHES

Titan Industries post collapse of public sector Watch Company HMT, brought

paradigm shift in the Indian watch market, when it introduced its futuristic quartz

technology, complemented by international styling and price. With India's two most

recognized and loved brands Titan and Tanishq to its credit, Titan Industries is the fifth

largest integrated own brand watch manufacturer in the world.

It was founded in 1987 and ventured into franchise business in 2005. It has 341

stores as of March 2013 and 265 exclusive showrooms spread across 119 cities. It has a

turnover of ₹ 10213 cores as of March 2013.

The company has sold 150 million watches and manufactures over 15 million

watches every year. With a franchisee license for premium fashion watches of global

brands, Titan Industries repeated its pioneering act and brought international brands into

the Indian market. Tommy Hilfiger, FCUK, Timberland & Police as well as the Swiss

made watch Xylys owe their presence in the Indian market to Titan Industries.

For Titan “Franchisee relationship management is important because of

increasing competition.” Titan's retail operations are a mix of company-owned and

franchised outlets, with the idea being to ensure a dominant presence in all market areas

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through different kinds of stores and also to assure the availability of every Titan

product. The company organises various programs for franchisees, their managers and

customer relationship officers. These include training workshops and seminars on

market trends, visual merchandising, store operations and maintenance, and customer

service initiatives.

In Titan Industries, the real challenge in retailing is managing the franchisee

network through processes and systems that ensure a superior brand experience for their

customers.

3.20 DTDC COURIER & CARGO LIMITED

DTDC Courier & Cargo Ltd. is one of the leading Express, Distribution &

Logistics companies in India, offering domestic and international services. DTDC

Courier & Cargo Ltd. is an ISO 9001:2008 certified company with headquarters in

Bangalore, and zonal offices in Bengaluru, Mumbai, Delhi and Kolkata.

It was founded in 1990 by Mr. Subhasish Chakraborty and ventured into

franchise business in 1991. They have 5,750 Franchisees outlets and a turnover of ₹424

cores in year 2012

DTDC delivers more than 100 million shipments annually. DTDC Courier &

Cargo Ltd. takes great pride in its contemporary state-of-the-art IT infrastructure along

with operational support that includes many upgraded customized applications for

corporate clients.

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Within a span of 18 years from its incorporation, through its business associates,

DTDC expanded its delivery network across the length & breadth of the country thereby

creating the nation’s largest Domestic Delivery Network. DTDC is also credited with

pioneering the franchisee concept for the courier industry in India and today has the

largest franchisee network. They have four franchise models, which are (1) Single Unit

(2) Master Franchise (3) Super Franchise (4) Corporate Franchise.

3.21 FIRST FLIGHT COURIERS LIMITED

The First Flight Couriers franchise is an Indian company that provides courier

services to all parts of the world. The courier services franchise delivers letters, parcels,

and goods and just about anything to the prescribed destination.

The company was founded in Nov 1986. They ventured into franchise business

in 2001. The company has a network of 930 offices, 2208 authorized collection centers

and 452 franchisee locations serving over 5000 pin code destinations across the country.

The turnover is ₹424 cores in FY 2012.

The first three offices were at Kolkata, Delhi and Mumbai. With that came the

overwhelming response from customers and soon the transportation services franchise

became a flourishing courier company that had its wings spread all over the country.

The First Flight Couriers franchise thrives on innovations through its dedication,

teamwork, commitment, honesty, sincerity in order to achieve total customer

satisfaction.

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The vision of the courier services franchise is to make the name in every

household of India. Along with this, the transportation services franchise also wants to

expand globally with a high global visibility.

3.22 PIZZA CORNER INDIA (PVT) LIMITED.

Becoming the industry leader in the Quick service Hospitality Business, was the

single most motivating factor that brought them to Chennai, India. Since then, they made

their presence felt in Bangalore, Hyderabad and then Delhi in 2000. They have large

customer base all over India. A brand that people trust implicitly for consistent deliver

and a quality experience.

Pizza Corner India (Pvt.) Limited was created in 1996 by Global Franchise

Architects (GFA). This winning idea is one among several supported by GFA, a builder

of specialty retail franchisees since 1996. It has 56 restaurants and turnover of ₹27 cores.

Its current portfolio consists of four self-created brands: Pizza Corner, Coffee

World, New York Deli, and The Cream and Fudge Factory. Pizza Corner India Pvt. Ltd

is the franchise owner of Pizza Corner in the country.

Their next step is to launch into an increasing competitive market with a focus on

franchising and repeat this success story in other Indian and International markets.

Even as a formidable business presence, they are defined by their creativity.

Along with the ability to innovate and a secure financial backing, what makes them

remain in business was their courage to create, and believe in their own ideas.

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The concept of open kitchens allows their guests to see for themselves the clean

and healthy environment in which they prepare food. The most sophisticated American

conveyor ovens make sure that pizzas are baked to perfection. Their Guest Care Center

(GCC) and commissaries are state of the art facilitating adherence to international

standards and service. They have set standards for others to follow and create trend.

Pizza Corner has largely grown through corporate stores. Their franchise

business model continues to grow at the rate of 75 percent. Most of the Pizza Corner

outlets have been opened under the franchise business model and the remaining are

company-owned outlets. However, according to the company’s new strategy for year

2013, they plan to have GFA own at least 45 per cent of its outlets.

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