Market sizing follows a top-down structure cross-checked against unit economics. The total addressable market, South Africa’s restaurant and foodservice spend, is roughly R260 billion. The serviceable addressable market, comprising premium and fine-casual dining plus the Indian-cuisine and catering segments the Company can realistically reach, is estimated at roughly R14 billion. The serviceable obtainable market, the Company’s Year-5 revenue of R128 million, is well under 1% of SAM.
NoteAmple headroom; execution is the constraint
Because Year-5 revenue is a fraction of a percent of the serviceable market, the binding constraint on growth is not demand but the Company’s own execution, flagship success, disciplined multi-site rollout, central-kitchen scaling and franchise build-out. Market risk is therefore predominantly execution risk, addressed in Sections 9, 12 and 18.
Bottom-up cross-check
The Year-5 target reconciles bottom-up. A network of roughly 30 outlets (6 company restaurants, ~10 express and cloud kitchens, ~14 franchised) at realistic average unit volumes, plus a growing catering, retail-products and franchise-royalty business, supports the R128 million total. No single channel carries the plan alone: restaurants (~R58m), takeaway and delivery (~R22m), catering and events (~R18m), franchise and cloud kitchens (~R19m) and retail products (~R11m) diversify the base.
