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FDI project Yo Yo Noodle introduced by One Network Consulting in India
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Tuesday, 28 May, 2013, 08 : 00 AM [IST]
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Our Bureau, Mumbai
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 One Network Consulting launched its first foreign direct investment (FDI) project, Yo Yo Noodle India at Mumbai's Taj Lands End. The brand plans to strengthen its presence in India through a master franchise agreement between One Network Consulting and the Yo Yo group.
Eric Ho, founder, Yo Yo Group, and Anuradha Makhija, managing director, One Network India Pvt Ltd, and chief executive officer, Yo Yo Noodle India, announced their strategy and shared their vision for the Indian market.
This project comes with a plan of creating an estimate of over 2,000 jobs all over India. Aside from launching new and exciting concept stores in India. The company also plans to make India the central hub globally for all the sourcing and merchandise to be exported to their stores worldwide.
With this plan, they estimate reaching a turnover of 50 milion pounds within the next five years. Ashish Mehta, first secretary (trade and investment), British Deputy High Commission, Mumbai, was the chief guest at the event, which symbolised India’s bilateral trade and investment with the United Kingdom.
The leadership of Yo Yo Noodle India elaborated the number of benefits to their prospective franchisees present at the event.
Some of the highlights of the franchise model explained are:
• Initial franchisee training performed by certified professionals
• Support from a dedicated Account Manager
• Quarterly franchisee meetings to network and share best practice, and
• Being part of a global network
Commenting on the launch of Yo Yo Noodle India, Ho said, “It is a very exciting time for us. We are in the process of picking our key franchise partners. We have a very strong team making it a winning collaboration. With Chinese cuisine being so popular in India, we are set for a great start. Yo Yo Noodle is going to be the next big thing in India.”
Makhija said, “One Network’s expertise lies in bringing multi-national brands to India – beginning with IT products and now F&B. It is a great feeling to be so rooted in this community and to have people come in excited and with smiles on their faces to our stores.”
“One Network Consulting and YoYo Group collaboration comes in the form of an FDI project and will be headquartered in Mumbai. We have planned a roll-out of 200 stores pan-India in the next five years,” she said.
“The alliance with the Yo Yo Group is excellent and I am proud to be a part of this dynamic brand. The Yo Yo Group team for the UK is very inspiring and is constantly offering training to ensure that we continue to grow and that our guest service is great. I am looking forward to this venture,” Makhija added.
With her vision to bring in FDI to India and give back to the society, Makhija, who is also the trustee of Healing Little Hearts, a charitable institution catering to infants with fatal heart diseases, said the project is very close to her heart, adding that she is overwhelmed with it being so well received in India.
She announced that two per cent of the annual profits of YoYo Noodle India would be given to two charitable institutions – Healing Little Hearts and the Nargis Dutt Memorable Trust.
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