Wed 4th Nov 2015 - Coffee shop chain issues £300,000 mini-bond paying 11% interest Beany Green seeks £300,000 through mini-bond paying 11% interest: Coffee shop chain Beany Green, the Australian-inspired concept founded by Prue Freeman and Tom Onions, has launched a mini-bond offer on Crowdcube, looking to raise £300,0000 with payment of 11% interest. A total of £246,200 has been raided already from 30 investors with 44 days left. The pitch states: “Our business has experienced solid top line growth over the last three years with net revenues (after VAT) increasing from £70,000 in FY13 to £1.7m in FY15 to £3.0m September 2015 run rate. We believe that our current five locations will continue to demonstrate strong growth over the next three years, delivering net revenues of £3.9m by FY18. We expect this growth to be capex light and to come through several planned new product offerings (weekday evenings at our location in Little Venice, an additional take away coffee outlet at Broadgate already agreed, increased lunchtime product offerings and minor reconfigurations at Regent’s Place). Our forecasts also assume that we add two additional locations in 2016 which together we expect to generate net revenues of circa £2.6m by FY18. It is anticipated that these sites will use the very successful all day model from Beany@Broadgate and expand to include full brunch, Australian inspired small plates and a lot more seating. We have expanded carefully to achieve early profitability within the business. In FY15 we achieved site Ebitda of £332,000 and Net Income (after tax) of £43,000. We are currently achieving (Sep-15 run rate) site Ebitda of £580,000 (17% margin), Ebitda (post central costs) of circa £400,000 and net income (after tax) of £310,000. By FY18 we expect to be achieving Ebitda (post central costs) of £1.1m, with circa £600,000 coming from our existing locations. The Aussie inspired company was established in 2012, has five central London locations and is projected to deliver £3m in sales in FY16 and increasing to £7m by FY20. Last year sales grew by 188% to £1.7m on the back of two new sites and improved performance. They are looking to open two additional sites in 2016. Interest paid semi-annually. Beany (our trading name for Daisy Green) was founded in 2012 to improve upon the 9-5 by providing city professionals with perfectly executed flat whites, bold healthy food and real Aussie personality. Our five very individual locations are now serving over 15,000 coffees, more than 1,000 slices of award winning banana bread, 2,500 lunchtime detox boxes and 3,000 pints of local craft beer each week. Our business merges health, art and lifestyle, operating out of creative spaces that are sophisticated, bold and just a little bit cheeky (some say). The coffee, food and service each have a strong Australian influence with sustainably sourced, fresh ingredients forming the basis of our health conscious offering which is aimed at providing a breadth of vitamins, minerals, proteins and complex carbs required for a high energy, active and healthy lifestyle. Our Detox Box was recently crowned Cheap Eats of the Week by Time Out and our banana bread won a Great Taste Award in 2014. All are made in-house. Bold custom art installations and sculptures form an important part of our spaces and provide a whirlwind of uplifting colour and excitement. Every site is different –  reflecting the heritage of the building, the area and its residents and workers. There are no set formats or offerings and we like it that way as it makes each site a new adventure and a unique destination to be discovered. We initially earned our stripes as members of street food collective, KERB, in a 1985 Ford Transit affectionately known as ‘Pinky Green’ – serving healthy food and great coffee on the streets of London and at major festivals and events across the UK. We could be found listening to the Rolling Stones in Hyde Park or being stuck in the mud at the Isle of White Festival. We took up a great semi-permanent location at the base of the Gherkin Building in October 2012, where we fell in love with the luxury of mains power and above all, the fun of our regulars and friends. Heating and solid walls were still to come.Our first permanent site came in early 2013 as a tiny 80 square foot ‘hole in the wall’ take-away coffee outlet located at Broadgate, next to Liverpool Street Station. It quickly produced in excess of 500 coffees a day and sold almost 30 loaves of homemade banana bread a week. That is a lot of bananas by the way. At about the same time we also opened our first cafe, Daisy Green, in Marylebone with a secret garden designed by one our favourite street artists – Shuby. Daisy Green offers our delicious coffee plus huge super healthy salads and a good Aussie brunch menu just like we remember in Bondi. Following successes at the tiny but rather popular Broadgate kiosk and at Daisy Green, we opened two new sites in 2014 – one a circa 1,400 square foot site within the British Land owned Paddington Central in Little Venice and the other within the British Land owned Regent’s Place.  In mid-2014, a converted shipping container (completely adorned with street artist Shuby’s work) on the Southbank saw us on another adventure in terms of format and offering – creating a quirky, robust operation capable of high volumes in peak times and able to move seamlessly between coffee and local craft beer.In April 2015, as part of the £20m Broadgate Circle redevelopment, we were upgraded from our tiny Broadgate kiosk to a unit with doors and dual custom coffee hatches. Our resident DJ’s on the open terrace take us back to the summer time days of the festivals, creating a great vibe on Thursday and Fridays In June 2015 we were invited as founder operators of Junction Urban Street Food – a permanent pop up with fellow street food operators, Mark Gevaux (The Rib Man) and Abie Cole (Big Apple Hot Dogs) outside Euston Station. The Junction, operated by SSP adds another exciting dimension to the business. Our next adventure will take us to Victoria – a circa 2,200 square foot unit which should open in Summer 2016 . We intend that this full scale cafe/restaurant unit will combine our existing all day offering with an exciting Australian-influenced evening menu, in a sophisticated, chic and artistic format.”