Bangs India, a fried chicken quick service restaurant (QSR) brand, is gearing up to open 500 outlets in the country over the next five years.
Nearly 100 of these proposed outlets will be company-owned, while the remaining 400 are expected to be opened through franchise-model. The chain intends to raise INR200m ($3.36m) to open company-owned outlets.
Bangs, which has recently opened a store in Chennai, targets to open about 70 outlets by 2013 and an additional 180-200 in 2014.
Commenting on the rapid expansion plan, Bangs director Asvin Simon told Franchise India: "The Indian fast food market is growing at an annual rate of 35 per cent approximately, so I feel Bangs has potential for a considerable amount of share in this growth percentage."
Bangs, meanwhile, is looking at overseas expansion with plans to open three stores in Doha, Qatar by the end of 2013.
