Growth

While longer operating hours can stimulate the nightlife, it's essential to address safety and security concerns along with additional service staff cost.

From online ordering, getting the food delivered at home to contactless payment and adoption of technologies like ChatGPT and AI in restaurant operations has brought a major shift in the business.

According to an IMARC report, in the fiscal years 2023-2028, the Indian food service market is expected to grow at a CAGR of 12.58%.

On the other hand, some investors may see opportunities in investing in restaurants during a recession, as distressed restaurant businesses may be available at a lower cost, and there may be less competition for prime real estate locations.

Despite over 20 lakh jobs lost during the peak of the COVID-19 pandemic, the industry is expected to reach employment figures of 1 crore by 2025, as per the Food Service and Restaurant Business Report 2022-23, by Francorp and restaurantindia.in.

Before starting the process of training, a detailed role mapping exercise is generally done to understand the roles that these employees can take up.

According to the officials, over 300 establishments ranging from hotels, restaurants, eateries to online delivery services of food, medicines, logistics and other essential commodities, transport and travel services will soon be able to run their businesses on a 24x7 basis in Delhi.

The sector has likewise modified itself to technological changes to keep up with modern times and the rest of the industry.

Employees between the ages of 30 and 45 experienced the highest turnover, while this honour usually belongs to the demographic between the ages of 20 and 25.

Presentations highlighted decisive actions and targeted investments in partners, customers, and stores that are expected to accelerate the company's long-term growth, progressively expand operating margin, and drive high-teens non-GAAP EPS growth annually through fiscal 2025.