JOHANNESBURG – Famous Brands, owners of Wimpy and Steers, yesterday announced that it has made its first foray into the mass-based entry-level market with pilot restaurant Blacksteer Home of Shisanyama.
The restaurant, which targets LSM 3 to 6 consumers, opened last week in Johannesburg.Menu items include pap en vleis, boerewors, Russian sausages, stews, flame grilled and fried chicken, burgers, mash, chips, soft serve ice-cream and a range of carbonated soft drinks – with price points under R20.Famous Brands acquired the trademarks and franchise agreements of Blacksteer in 2010. It also owns the franchises for Debonairs Pizza, FishAways, Mugg & Bean and Brazilian Cafe, among others.According to Kevin Hedderwick, CEO of Famous Brands, the key elements of Blacksteer’s business model are compelling, and include low set-up costs, low rentals and limited staffing.’The trading format is primarily quick service take-away with limited seating, catering for customers seeking a convenient, substantial meal,’ he said, adding that the new venture has an important empowerment component.’Blacksteer’s offering, market niche and low start-up costs, in the order of R500 000, position the business favourably for investment by black entrepreneurs with finite capital but a keen insight into the LSM 3 to 6 market,’ he said. – I-Net Bridge
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