CyBERG Nyrt., a company listed on the Xtend platform of the Budapest Stock Exchange (BÉT) which runs Kajahu, a "social digital restaurant brand," is preparing to open a unit in London and has signed an agreement with a consultant which will support its expansion in France.
CyBERG said in a disclosure that it has signed an agreement with Gira Conseil, a company owned by French restaurant expert Bernard Boutboul. Under the agreement, CyBERG will showcase its strategy to some 30 investors at an event in Paris on September 26.
CyBERG also said it has started talks with a Silicon Valley software developer on cooperation that "could give significant momentum to CyBERGʼs technology developments." The firm is building a network of potential franchise and financing contacts in the U.S. with a view to future expansion there, the disclosure added.
CyBERG recently unveiled a disruptive "Food for Free," or "3F," business model. CyBERG wants to create additional revenue streams through ads, commissioning cross-selling and subscription-only content at its Kajahu restaurant franchises.
"Once the franchise network passes a certain critical mass, its revenues from digital services will overtake those of food service operations," CyBERG explained. "This allows franchises to realize larger returns and greater profit margins, which could eventually provide funding for the food consumed by the restaurantʼs guests."
CyBERG envisages the "step-by-step realization" of the 3F concept "over the next few decades."
As reported earlier, CyBERG began its expansion in January this year with its first Kajahu franchise outside Hungary in the Parndorf Fashion Outlet in Austria, near the border with Hungary. CyBERG signed a franchise agreement in Q2 2018 for 73 Kajahu restaurants to open in Austria, the Czech Republic, Poland and Slovakia by 2030.