RASHAYS taps new CFO for international expansion ambitions
New CFO eyes stronger unit-level profits after operational challenges last year.
RASHAYS has appointed Rishikesh Ketkar as its new chief financial officer to help drive the brand’s national and international expansion ambitions, following operational setbacks that led to closures in Bundaberg and Toowoomba last year.
Rashays is a family-owned Australian casual dining chain founded in 1998 by Rami and Shannon Ykmour in Liverpool, New South Wales. Known for its affordable, family-friendly meals, the chain has grown to over 30 locations across the country, offering a menu of pizza, pasta, burgers, and grilled dishes.
In this Q&A, QSR Media spoke with Ketkar to understand how his leadership will influence the brand’s strategy moving forward.
What attracted you to join Rashays and take on the CFO role at this pivotal stage? Can you mention something specific?
Rishi: What brought me to Rashays was the opportunity to contribute to a brand with real momentum and a strong sense of purpose. Rashays has a visibly cohesive management team committed to scaling the business the right way. Rashays has always stood out for its accessible menu and inclusive dining experience, but what’s even more exciting now is the stage we’re at, expanding nationally and laying the groundwork for international growth. Specifically, I saw an opportunity to contribute meaningfully to a brand that’s proudly Australian-owned and operated since 1998. There’s a shared belief across the leadership team in building something enduring whilst doing things with a purpose, and I wanted to be part of that journey.
How do you see your experiences influencing your approach to the brand?
My background includes large global QSR brands and high-growth franchise operations, so I’ve learned how to build financial discipline whilst preserving entrepreneurial energy. At Rashays, that means working closely with both Nazih Battal, our CEO, and Nadim Araye, our COO, to align strategic and capital planning with operational execution, ensuring we can grow our footprint, support our franchisees, and remain financially flexible and resilient. Having that mix of experience allows me to bridge structured analysis with strategic agility
At Rashays, that means creating scalable systems that support growth whilst staying close to the numbers. My focus is on ensuring we grow profitably, with the right level of investment and a clear understanding of unit-level performance.
What are some key financial priorities or initiatives you're focusing on in the short term?
Right now, we’re prioritising margin optimisation, improved cashflow visibility, and tighter cost control across the network. In the near term, we’re zeroing in on profitability at the unit level, smarter cash flow, and growing our franchisees with more robust financial insights. For example, we’re rolling out product-level margin tracking and working closely with our operations team to ensure these insights translate into store-level improvements. It’s a team effort to keep performance aligned as we scale up a proud Australian brand, nationally and globally.
How do you see economic factors affecting the brand's strategies?
Rising input costs and cautious consumer sentiment are pushing all brands to deliver stronger value. For Rashays, that means staying sharp on pricing whilst boosting underlying operational efficiency. Ensuring we work with our franchisees and store managers to ensure cost control measures are practical and consistently applied. With consumers more value-conscious than ever, our strategy is to deliver strong perceived value without sacrificing margin. That means smarter procurement, dynamic pricing, and precise labour planning. We’re also keeping a close eye on macroeconomic signals to pace our expansion, especially as we prepare for growth across new domestic and global markets.
What do you see as a major pain point in the quick-service restaurant industry? How do you think QSR brands should tackle this?
Consistency in customer experience and network strategy execution is a major challenge, especially with a distributed model. For us, that means ensuring franchisees and store teams have the right tools and support to deliver a great experience every time. It’s not just about standards; it’s about building systems that empower people and create a reliable customer experience regardless of location. By collaborating closely with franchisees and giving them real-time insights and support, we ensure that every customer encounter reflects our standards and values.
What are Rashay's current goals for both the short-term and long-term?
In the short term, our focus is on operational excellence and improving unit-level profitability through stronger cost control and smarter planning. For example, we’ve implemented tighter inventory management protocols that are already making an impact.
Long-term, our ambition is to scale Rashays nationally and internationally. That means developing scalable models, partnering with franchisees across diverse markets, and ensuring we can replicate success in new geographical regions. We are building that foundation now through enhanced systems, a strong and cohesive leadership culture, and deep engagement with franchise partners across market segments.
What excites you most about the direction Rashays is heading and your role in driving that journey?
I’m excited by how aligned we are as a leadership team. We have fostered a clear strategic direction that balances ambition with discipline. We’ve built a strong, cohesive culture that supports smart growth and values collaboration. Being part of a team where finance, operations, and brand strategy are truly integrated makes the work deeply rewarding. What excites me most is the clarity of our vision and the strength of our culture.
From your experience, what’s one strategic tip you’d share with peers navigating growth in the QSR industry?
Make sure your growth is grounded in capability, not just ambition. Empower your franchisees, and back your decisions with data. A cohesive culture, like the one we’ve built at Rashays, isn’t just a nice-to-have; it’s a strategic asset. Whether it's your internal leadership or your franchisees, sustainable growth is built on collaboration and accountability; and that’s something we’re very intentional about at Rashays.
