Canadian fast-food Odd Burger eyes 150 openings in Asia
It plans to open 145 restaurants in India and five in Singapore.
Canadian plant-based fast-food restaurant Odd Burger plans to open a total of 150 restaurants in India and Singapore.
Odd Burge plans to open 145 restaurants in India and five in Singapore for a period of 10 years. The fast-food chain’s menu includes breakfast muffins, nuggets, wings, wraps, desserts, and (of course) burgers. The burgers feature plant-based alternatives to beef, chicken, bacon, eggs, and/or dairy.
The first store is expected to open in Mumbai, which will serve as the model store for India.
The expansion will be led by a developer group Canada Inc. operating as Earthlings Canada Inc, which Odd Burger Corporation signed a non-binding letter of intent with.
The group is led by Utsang Desai, a director of the Company, and an experienced QSR developer and Odd Burger board member. The terms of the agreement include a 50% split of all royalties and franchise fees collected in the territory with Odd Burger, as well as a 2.5% contribution to the Odd Burger advertising fund.
The definitive agreement is expected to close on or before May 31st, 2023, upon which the Developer is expected to acquire the Master Franchise rights to both India and Singapore as well as the right of first refusal to purchase additional territories in other South-East Asian countries including Australia and New Zealand.
"The growth opportunity in the Indian market is significant. It is estimated that there are 574 million people that follow a meat-free diet in India, with 126 million of those adhering to a vegan diet. The local connections and know-how gained through our partnership with the Developer group will help us service this large and growing market,” James McInnes, CEO and Co-Founder of Odd Burger said.