THE RISE OF THE RESTAURANT GURUS

Restaurant and food consultants are increasingly crucial for a sector that experiences almost similar success and failure rates.

- SUMAN TARAFDAR

Spending leisure time, catching up with friends, even getting meetings and work done at restaurants, established and new, seems arguably the absolute top hobby of Gen Z, in my rather anecdotal research.

Add to it India's growing economic clout, which ensures increasingly higher disposable incomes in the hands of a substantial part of its residents, and it is no surprise that the restaurant sector has ballooned in the last decade or so.

It is gathering pace even now. However, it also has the highest turnover, with restaurants shutting down almost as fast as they open.

Valued at $80 billion in 2024, India's food services sector is expected to zoom to $144-152 billion by 2030, according to a report by Redseer Strategy Consultants. Across segments, India is estimated to have over 500,000 restaurants. In 2024, industry insiders estimated about 2,000 new restaurant openings each month in India, though this is tempered by a significant closure rate-the National Restaurant Association of India citing a 30-35% closure rate. According to Mordor Intelligence's projections, the café and bar market is estimated to be worth a notable $17.54 billion in India in 2024, and is expected to clock a CAGR of 8.33% through 2024 to 2029.

Secret sauce

What emerges very quickly in conversations with people from the food and beverage industry is the number of clients looking for help as they contemplate opening a restaurant. "This industry requires consultants for two major factors," says Anthony Philip S, Founder, Table and Fork. "One, of course, is the business point of view, and the other is the food and beverage. It is not just newcomers; maybe the existing players are trying to enhance their menus, so they require consultants and expert advice."