Since 2015, more Indian consumers have developed a taste for specialty desserts, and The Belgian Waffle Co. (BWC) has become a leader in this space. Founded by Shrey Aggarwal after his international travels, BWC now serves customers at over 450 locations across 160+ cities in India. The quick-service restaurant (QSR) market has been growing rapidly, and spending on desserts has increased significantly, making it an ideal time to invest in dessert franchises.
BWC’s success comes from its unique overseas dessert offerings, consistent quality, and affordable prices. The brand has won awards, including recognition at the Asia Food Innovation Awards. Beyond waffles, BWC also sells ready meals and premix products, adding to its revenue without straying from its core business.
With the organized food service industry in India expected to reach ₹5.52 lakh crores soon, investing in a Belgian waffle franchise like BWC is a promising opportunity. Understanding the Belgian waffle franchise cost will help you make an informed decision to join this growing market.
n this guide, we’ll explore the exciting world of Belgian waffle franchises, focusing on The Belgian Waffle Co., one of the fastest-growing chains in India.
About The Brand: Belgian Waffle
- Founders: Shrey Aggarwal and Alisha
- Founding Year: 2015
- Growth: From having a single outlet to having over 450 outlets within a space of 8 years
- Reach: Currently operating in 160 Indian cities and Nepal
- Daily Sales: 45,500+ waffles sold per day
- Franchise Network: 220+ franchisee partners
Before we dive into the world of franchising and Belgian waffle franchise costs, let’s take a moment to appreciate the star of the show: the Belgian waffle. These are known for their thickness, crisp outside layer, and soft inside texture and are probably the most famous kind of waffles at the moment. These waffles work well on their own, garnished with fruits of your choice, or covered with a thick layer of sticky and smooth chocolate, which makes them a favorite dessert among young and old.
The Belgian Waffle Co. has not only captured the hearts (and taste buds) of waffle lovers but has also earned industry recognition:
- Winner of the 2018 Franchisor of the Year Award, Dessert Category.
- Most popular and awarded as the Most Admired Food Start-Up in 2019
- In the food service category, it won the “Asia Food Innovation Awards” in the previous year, 2019.
USP (Unique Selling Proposition)
- Offers sweet, savory, vegan, and gluten-free waffles, along with beverages.
- Wide topping options for personalized waffle creations.
- Includes local flavors like gulab jamun, kesar pista, and paneer variants.
- Strict quality control ensures consistency across outlets.
- Premium product experience at mass-market pricing.
- Regular new launches and seasonal specials keep offerings fresh.
Revenue Growth in India
- 2021: ₹85 Cr
- 2022: ₹105 Cr
- 2023: ₹142 Cr
- 2024: ₹189 Cr
- 2025 (Projected): ₹250 Cr
- CAGR (2021–2025): ~31% (significantly higher than the food industry average of 14.2%)
Being relatively young and rapidly developing, The Belgian Waffle Co. is a perfect chance for those who are aiming to use the services of a food franchise and are interested in the Belgian waffle franchise cost.
Why Invest in The Belgian Waffle Co. Franchise in India?
Explosive Growth Trajectory
From 2023 to 2025, the company opened more than 450 stores which was a 3.7% rise despite the tough situation in the market. At present, it delivers food in more than 160 Indian cities and plans to reach more than 135 additional cities in tiers 2 and 3 by 2026. It grew its revenue by 37.5% in these years when the industry average was just 22.3%.
Market Demand & Demographics
India’s dessert market is set to reach ₹18,900 crores by 2025, with growth happening at a strong CAGR of 14.2%. Because over 42% of the population is under 25 and now buying more desserts, the specialty desserts market has been growing. People are loyal to BWC, since 79.3% of customers visit more than once, and the brand keeps getting a Google rating of 4.3 out of 5.
Economic Indicators
With per capita GDP at $3,385 in 2025, India surpassed the key amount that usually leads to higher spending on extra food. The rise in urban consumption expenditure by 31.7% since 2021 suggests that more people are now better off and changing their buying habits. In recent years, the food service sector has increased its contribution to the nation’s GDP to 8.7%, and there has been a big rise in organized food retail, from 10% to 18.5%, reflecting how Indians are now buying and eating various foods more often.
Strategic Advantages
Unlike most QSRs, this business achieves an 12–15 month ROI with much less upfront investment. It gets an industry-topping 16% profit margin and around 93% of its franchises are thriving after being open for 24 months. With less skilled labor needed, it can still do well in both major, smaller and middle-sized cities.
Innovation & Adaptability
From 2022 to 2025, 18 new products were released to support McDonald’s sale of meals in restaurants, for takeaway, delivery and in supermarkets. After adding shakes and sundaes to the menu, average order value has risen by 47% at our stores. Many locations now have kiosks and Cafes, making it simple to adapt to different situations and limits of investment.
Belgian Waffle Franchise Models Offered
Belgian Waffle Co. provides two main franchise models, made to suit any location, investment size, and business goals:
Kiosk Model
The kiosk model is BWC’s best option when there is not much room but a lot of people pass through:
- Space Requirement: 80 sq. ft. minimum
- Total Investment: ₹13.9 lakhs
- Setup Timeline: 30-45 days from agreement signing
- Staff Requirement: 2-3 team members
- Ideal Locations: Mall food courts, metro stations, railway stations, airports, busy market corridors
- Daily Capacity: 150-200 servings
- Breakeven Period: 12-15 months
People are meant to place orders, pick up or ask for delivery, since there are only a few seats. This is especially successful in areas with a lot of people moving through, where it gets 27% more impulse buys than the Cafe model on average.
Cafe Model
In the Cafe, you have your own space and can enjoy more meals from an improved BWC menu:
- Space Requirement: 200 sq. ft. minimum
- Total Investment: ₹19.89 lakhs
- Setup Timeline: 45-60 days from agreement signing
- Staff Requirement: 3-5 team members
- Ideal Locations: High streets, commercial complexes, neighborhood markets, institutional areas
- Daily Capacity: 200-300 servings
- Breakeven Period: 12-15 months
Both Cafe locations and kiosks feature everything on the BWC menu and because people can enjoy their meals in the restaurant, average orders tend to be 62% higher at Cafe locations.
Belgian Waffle Franchise Cost: Complete Breakdown
Let’s take a closer look at the costs involved in starting a Belgian Waffle Co. franchise for both models:
Kiosk Model (₹13.9 Lakhs)
- Franchise Fee: ₹4 lakhs (non-refundable, grants rights to use BWC brand and systems)
- Interior & Setup: ₹6 lakhs (customized as per BWC design guidelines)
- Equipment Cost: ₹3 lakhs (state-of-the-art waffle makers and kitchen equipment)
- Initial Stock: ₹50,000 (ingredients and packaging materials)
- License & IT Setup: ₹20,000 (POS systems, operational software)
- Marketing Launch: ₹20,000 (grand opening promotions and materials)
Cafe Model (₹19.89 Lakhs)
- Franchise Fee: ₹5 lakhs (non-refundable)
- Interior & Setup: ₹10 lakhs (enhanced seating area and premium finishes)
- Equipment Cost: ₹4 lakhs (complete kitchen setup including specialized equipment)
- Initial Stock: ₹50,000 (expanded inventory for full menu)
- License & IT Setup: ₹20,000 (comprehensive POS and management systems)
- Marketing Launch: ₹20,000 (territory-specific launch campaign)
Additional Ongoing Costs
- Royalty Fee: 9% of monthly gross sales (includes marketing contribution)
- Working Capital: ₹5 lakhs recommended (3 months operating expenses)
- Agreement Renewal: ₹2 lakhs every 3 years
- Annual Training Refresher: ₹25,000 per year (optional but recommended)
Earning More from a Belgian Waffle Co. Franchise: Key Location Insights
Prime Location Characteristics
- Minimum daily footfall: 800–1,000 people
- Target age group: At least 35% of nearby population should be between 18–40 years
- Average annual household income in the area: ₹6 lakh or more
- Prefer areas with moderate competition but many nearby food outlets
- Street-facing retail spaces attract 23% more walk-in customers
Top Location Types by Performance (2023–2025 Data)
- Mall Food Courts (31%)
- Avg. monthly revenue: ₹6.5–8 lakhs
- Peak hours: Evenings & weekends
- Impulse purchases: 42%
- High Streets (27%)
- Avg. monthly revenue: ₹7–9 lakhs
- Higher daily footfall
- Avg. order value: ₹380 (vs. ₹320 sector average)
- Subway Stations / Transport Hubs (16%)
- Avg. monthly revenue: ₹5.5+ lakhs
- Takeaway orders: 68%
- Peak hours: Mornings
- Near Educational Institutions (12%)
- Avg. monthly revenue: ₹5–6.5 lakhs
- Lower sales during school vacations
- Highest social media engagement: 2.7x company average
- Residential Areas (14%)
- Avg. monthly revenue: ₹4.5–6 lakhs
- Strong delivery demand
- Best performance: Weekday evenings
Location Selection Process by BWC
- Advanced GIS tools used to assess:
- Local demographics & income
- Competitor density
- Road traffic & visibility
- 37-point site evaluation checklist: Physical attributes, access, future scalability
- 7-day footfall analysis + 1–5 km demographic review
- BWC tracks upcoming infrastructure/developments
- Sites that meet 80% of criteria have a 76% success probability
Profit Margin & ROI Expectations
The Belgian Waffle Co. has earned a good reputation for delivering higher returns on investment compared to the majority of food franchise opportunities. Looking at the historical performance of other franchisees and forecasts for the market by 2025:
Financial Performance Metrics
- Average Monthly Sales (Kiosk Model): ₹5-7 lakhs
- Average Monthly Sales (Cafe Model): ₹7-9 lakhs
- Net Profit Margin: 16% (industry average for dessert QSR: 12.3%)
- Return on Investment Timeline: 12-15 months
- Average Monthly Profit (Kiosk): ₹80,000-1.12 lakhs
- Average Monthly Profit (Cafe): ₹1.12-1.44 lakhs
Cost Structure Breakdown
- Food Cost: 30% (primary ingredients supplied through BWC’s central procurement)
- Delivery Platforms: 15% (partnerships with major aggregators)
- Staff Expenses: 10% (3-5 employees, depending on model)
- Royalty: 9% (includes contribution to national marketing)
- Rent: 10% (location dependent)
- Utilities: 3% (electricity, water, internet)
- Packaging: 2% (eco-friendly branded materials)
- Local Marketing: 2% (neighborhood promotions, social media)
- Administrative: 2% (permits, accounting, miscellaneous)
- Miscellaneous: 1% (maintenance, replacements)
- Net Profit: 16% (remaining after all expenses)
Usually, BWC franchises show one of three possible progress paths. About two-thirds (65%) follow typical growth, making 50-60% of estimated sales by their first 1-3 months, 70-80%
How to Join the Waffle Family
Interested in exploring the Belgian waffle franchise cost and opportunities? Here’s a step-by-step guide to applying for a franchise:
- Visit the official website: Visit the website of the Belgian Waffle. Co and get to know more about the brand.
- Navigate to the “Franchise” section: Search for franchise business information based on the type of opportunity.
- Fill out the application form: Submit your details, your business experience, and your preferred location.
- Submit the form: Make sure to cross-check all the information provided before submitting the article.
- Wait for a response: The franchise team will go through your application and contact you regarding the next steps.
Note that this process takes time, therefore; do not get impatient with the process. To avoid a mismatch between the company and the partner, the company will undertake thorough assessments to determine the suitability for both companies.
Advantages and Disadvantages of the Belgian Waffle Franchise
Like in any business undertaking one must look at the positive and negative aspects of the business. Let’s look at the pros and cons of owning a Belgian Waffle Co. franchise:
Pros
- Established Brand Name: Use the advantages of being associated with a brand that will already have known market recognition.
- Proven Business Model: Take advantage of a system that has demonstrated effectiveness in a variety of sites.
- Training and Support: Get all the training that you can from the franchisor and receive continuous support from him.
- Standardized Recipes and Ingredients: Try to maintain the quality of products and services offered in all outlets.
- Marketing and Advertising Support: Take advantage of advertising activities that are coordinated by the franchisor.
- Quick ROI: Ability to get back your Belgian waffle franchise cost within 13-15 months.
Cons
- Royalty Fees: Annual percentage of 8.5% on the net sales.
- Location Dependency: The Company’s success factors tend to be significantly dependent on the selection of the correct site.
- Operational Challenges: Overseeing staff, stock, and general administration is never easy.
- Limited Menu Control: Less freedom in changing certain aspects of menus or bringing up new items without getting permission from the franchisor.
Comparison with Other Dessert Franchises
To help you make an informed decision about the Belgian waffle franchise cost, let’s compare The Belgian Waffle Co. franchise with other popular dessert franchises in India:
| Franchise Name | Initial Investment | Royalty Fee | Space Required | ROI Period |
| The Belgian Waffle Co. | 10-20 lakhs | 8.5% | 80-250 sq. ft. | 13-15 months |
| Baskin Robbins | 20-30 lakhs | 10% | 300-500 sq. ft. | 24-36 months |
| Cream Stone | 15-25 lakhs | 5% | 200-400 sq. ft. | 18-24 months |
| Kwality Walls | 5-10 lakhs | 10% | 100-200 sq. ft. | 12-18 months |
| Thick Shake Factory | 15-25 lakhs | 6% | 150-300 sq. ft. | 18-24 months |
As you can observe, The Belgian Waffle Co. has a moderate investment range and can generate a return on investment much earlier than some of the selling dessert franchises in India.
Is a Belgian Waffle Franchise Business Right for You?
Having gone through all the information about the Belgian Waffle franchise cost and opportunities, you may be asking yourself if a Belgian Waffle Co. franchise is right for you. Here are some factors to consider:
- Passion for Food: To some extent, do you have a passion for the food industry and dessert in particular?
- Financial Readiness: Are you capable of investing the Belgian waffle franchise cost of 10-20 lakhs and covering the regular expenditures simultaneously?
- Time Commitment: Are you ready to invest a lot of time and effort in managing the business?
- Management Skills: Have you ever dealt with staff and organization of the working process?
- Location Access: Are you able to get a good location in a busy area?
- Brand Alignment: Are you a believer in the product that you are promoting, and the company’s core values?
If you can answer “yes” to most of these questions, a Belgian Waffle Co. franchise could be the right entry point for you into the growing dessert segment in India.
Also Read: Tea Time Franchise
Conclusion
Therefore, The Belgian Waffle Co. franchise is a good opportunity to enter the dessert market in India for an operator. Taking into account the company’s name, a business model, and the ability to make good money, it is suitable for people, who like food and want to have their own business. As with any investment opportunity, you must consider your objectives, your financial resources, and the environment that is prevailing in the market. The Belgian waffle franchise cost is an important factor to consider, but the potential returns make it an attractive option. Sweets are not only tasty but they may help you succeed: waffles.
FAQs
1. What is the total expense that one has to make to bring the Belgian Waffle Co. franchise to India?
The Belgian waffle cost starts at 10 to 13 lakhs for the Kiosk model and 15 to 20 lakhs for the Cafe model. This implies the franchise fees, Initial costs, inventory, and working capital for the franchisors and first-time franchisees.
2. What is a Belgian Waffle Co. franchise profit margin?
Franchisees can anticipate an 18% to 25% net profit margin after all the expenses have been subtracted.
3. What is the payback period for the Belgian waffle franchise cost?
The Belgian Waffle Co. franchises normally take about 13 to 15 months to recover the total initial investment.
4. What assistance does The Belgian Waffle Co. offer to its franchisees?
They provide in-depth orientation, operation support, marketing services, recipes, and ingredients if in national form.
5. Am I allowed to change the menu or bring new items to the franchise outlet?
Many changes to menus and new products that are added to the menu need consent from the franchisor to ensure standardization of the outlets.
