This is the best time to enter the Indian market- Ryan Patel

Ryan Patel is a global business executive who has worked for publicly traded to startup companies. He is a renowned name in building and scaling brands domestically and internationally both in the retail as well as F&B sectors. Patel recently served as the Vice President of Global Development for Pinkberry. 

The Journey

I am very fortunate to work with some of the top restaurants which have grown to multiple units now. I work with companies who are in F&B and in retail. Recently, I was involved with Pink berry and highly contributing in taking it from 95 stores in two countries to 270 stores in over 23 countries. My journey has given me a chance to work in multiple formats- working in QSR, fast casual, dining in or everything compiling.

What’s exciting in food biz?

Right now, the most exciting is the new brands. These brands are actually challenging and that’s what their initial notions are. Fast Casuals are popped up and they are in between QSR and casual dining. Before F&B was just food and beverage but today retail is coming in F&B.

On Indian market

We have opened few brands here. Pink berry sometimes last year. India is a fantastic market and one of the unique markets in the world. India is very diverse in terms of taste. You need to be locally sourcing and available here. I believe in the country, entrepreneurs and consumers here. Consumers are no more followers here. They are the leader and are very mature. In the next five years you will see them more demanding and curating. This is the best time for those who wants to enter the Indian market. But what really excites is that Indian platform will have global entry providing international world their unique tastes.

What is your favourite in India

Chinese Indian food and the fusion food are exciting because I don’t get them in US.

Suggestion on bringing a brand to India

First step is hitting the tier I market, make a brand presence and then expand. The idea is to open in one city, build it and then grow. And, that’s how you succeed. I think for me personally, it’s my job to educate the global PEs and companies to see India as the next market.

Franchising as a model

I believe in franchising with control. You have to grow cautiously, build partnerships. You have to build the right way. You need to see whether they are culture fit, will they will be approachable, if things don’t go right how would they react. These are the things you need to question about before you enter into the partnerships. So, I think beside the money and the infrastructure, definitely what are the businesses they have done, how they have reacted to it and what is the ambition needs to be checked about.