Operators of The Jones Family Project in Shoreditch, Curious Restaurants are now raising funds on Crowdcube in order to enter their next stage of business by building the first two Jones Family Kitchens.
Seeing the success of the flagship restaurant, Co-founders Duncan Watts and Amit Joshi hope to take their business to the next level and expand the popular restaurant.
The founders believe that they can create a “Bridge Brand” between premium casual dining and formal fine dining that will be capable of being rolled out across the country.
“We are raising equity to help fund these two new restaurants as well as to strengthen our Head Office team to enable us to roll out this new restaurant concept.”
The first Jones Family project opened in Shoreditch in 2013. Since then, turnover has grown to exceed £1.4 million in the FY 16. Comparing the financial performance in the second half of 2016 to 2015, they have grown at a like for like rate of an estimated 20 percent.
“The flagship restaurant became profitable at the end of last year and is situated in probably the most exciting area of London in terms of development over the next five years.”
The business plan involves building two new sites each year for the next three or four years. The new sites will be in London and larger towns and cities. The founders believe that this is a sensible target that will allow the business to develop at a sustainable pace.
Hoping to raise £600,000 from this round of fundraising, Curious Restaurants hope to use funds to build the first two sites when matched by appropriate bank debt. The company will need to raise further equity in the future.
Curious Restaurants was the winner of the best casual dining in London and have a 4.5 star rating on Tripadvisor from over 425 reviews.
Curious restaurants have so far raised 39 percent of their target goal and offer an equity of 19.35 percent.