Market sizing follows a top-down structure cross-checked against restaurant economics. The total addressable market, the South African restaurant and foodservice market, is roughly R260 billion. The serviceable addressable market, comprising premium casual and fine dining, corporate catering and franchise spend that the Company can realistically reach, is estimated at roughly R26 billion. The serviceable obtainable market, the Company’s Year-5 revenue of R1.06 billion, is around 4% of SAM.
NoteAmple headroom; execution, brand and rollout are the constraints
Because Year-5 revenue is a small share of the serviceable market, the binding constraints on growth are not demand but the Company’s own execution, proving the flagship restaurants, building the brand and systems, rolling out consistently across cities and formats, and recruiting quality franchisees. Market risk is therefore predominantly execution, cost and competition risk, addressed in Sections 9, 10 and 18.
Bottom-up cross-check
The Year-5 target reconciles bottom-up against restaurants. Twelve company-owned flagship restaurants, each generating premium average spends across high-quality metropolitan sites, together with twenty-eight franchised outlets (earning fees and royalties), corporate catering, retail products and delivery, build toward the R1.06 billion total. No single stream carries the plan alone: company restaurants (~R583m), franchise (~R233m), catering (~R106m), retail (~R85m) and delivery (~R53m) diversify the base and provide several independent routes to scale.
