Minor Food targets 4,500 outlets by 2029 in global franchise push
Thai restaurant operator aims to balance domestic and international revenue at 50-50 split through asset-light expansion model
- Minor Food plans to nearly double its global presence from over 2,700 outlets to more than 4,500 by the year 2029.
- The expansion will be driven by a franchise-focused strategy, aiming to increase the proportion of franchised stores from the current 48% to 56% of the total.
- A key goal of the global push is to rebalance revenue from being two-thirds domestic to an equal 50-50 split between Thailand and international markets.
Minor Food Group, Thailand's leading restaurant operator, has unveiled ambitious plans to nearly double its global footprint to more than 4,500 outlets by 2029, with franchising serving as the cornerstone of its expansion strategy.
The company currently operates over 2,700 outlets across 24 countries and aims to rebalance its revenue mix from the current two-thirds domestic dependency to an equal 50-50 split between Thailand and international markets within five years.
Speaking at a press conference on Thursday, Chief Development Officer Thunyachate Ekvetchavit outlined the firm's "Passion for Growth" strategy, built on three pillars: Thailand, International, and New Brand development.
Under this plan, franchise operations will account for 56% of total stores by 2029, up from the current 48%.
"The food and beverage sector in Thailand and globally is undergoing a period of recovery and renewed expansion, while consumer behaviour continues to evolve rapidly," Thunyachate said. "Minor Food understands this context well, and through the 'Passion for Growth' strategy, we're setting the course for sustainable organisational growth."
The expansion drive comes as Minor Food reported revenue of 15.63 billion baht for the first half of 2025, representing 4% year-on-year growth.
The restaurant division accounts for 20% of parent company Minor International's revenue but contributes 36% of its profits.
The company is targeting double-digit growth of at least 10% this year, with possible growth exceeding 50% over the next five years.
Indonesia and India have emerged as strategic markets for the company's international push.
In Indonesia, Minor Food's GAGA brand expanded from zero to 32 stores within a year, whilst Dairy Queen grew from 20 to 38 outlets, demonstrating strong local acceptance. The company plans to introduce additional brands to Indonesia by year-end, including its Hot Chain food brand.
India is also being explored as a new market, with both food and dessert brands from Minor Food's portfolio expected to launch there before the end of 2025.
Minor Food's domestic strategy includes expanding popular franchise brands such as Bonchon, Dairy Queen, and GAGA across Thailand.
The company is also experimenting with new store formats, including Dairy Queen standalone modular stores co-located with convenience stores in dense residential areas.
These standalone outlets have shown promising results, with sales increasing 20% compared to traditional mall-based stores.
The format targets the growing "late night eaters" demographic, with plans to reach 15 Dairy Queen standalone stores by year-end, starting in Bangkok and surrounding areas.
The international expansion will be driven by core brands including The Pizza Company, Swensen's, Sizzler, and The Coffee Club. In the Middle East, where The Coffee Club is already established, Minor Food plans to introduce its Benihana restaurant brand.
Thunyachate highlighted shifting consumer preferences both in Thailand and globally, noting that diners are increasingly seeking value-for-money and affordable dining options. Minor Food's brands are well-positioned to adapt to this demand, he said.
The company is also developing new brands aligned with emerging food trends, including the recent launch of "The STEAK & MORE", positioned for consumers seeking bold-flavoured steaks at accessible prices—a direct response to the value-conscious market trend.
Minor Food's franchise-focused strategy aligns with parent company Minor International's emphasis on asset-light expansion models. The approach aims to optimise speed and returns whilst reducing capital expenditures and improving financial efficiency.
The company's investment budget for these strategies forms part of Minor International's 7 billion baht investment programme over five years, as the group seeks to position itself as a "Global Franchisor of Choice" in the competitive restaurant sector.
