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Morning Briefing for pub, restaurant and food wervice operators

Thu 9th Mar 2017 - Ben’s Canteen launches £250,000 crowdfunding campaign to open third site
Ben’s Canteen launches £250,000 crowdfunding campaign to open third site, aims to build ten-strong estate in next five years: Neighbourhood concept Ben’s Canteen has launched a £250,000 fund-raise on crowdfunding platform Crowdcube to help open a third branch in September this year, and fund the growth of the restaurant group. The company, founded in 2011, is offering a 23.81% equity stake in return for the investment. It is looking to expand after the success of its sites in Clapham Junction and Earlsfield. Ben’s Canteen is taking a site in the phase one development at Battersea Power Station, Circus West Village, which will have direct access to large areas of adjoining public open space, including a section of the new six-acre riverfront park leading into Battersea Park. Battersea Power Station itself stretches over 42 acres, with a project value of £9bn. Opening there will fuel further growth for Ben’s, the aim being to reach a total of ten sites in the next five years. The company stated: “The sites in Clapham Junction and Earlsfield have both built a loyal clientele over the years, becoming a go-to for weekend brunches and relaxed dinners. Casual all-day dining is in the DNA of the brand, with Ben’s Canteen ideally suited to leverage the continued rise in this sector while traditional restaurant and pub concepts reduce in popularity.” Owner Ben Walton added: “I am hugely excited about Ben’s Canteen number three. I believe that as well as a fantastic business proposition, we are also giving investors a set of exciting rewards and a chance to be part of our journey. What drew me to this particular site was the sense of history and the chance to be situated among the old and the new was too good to miss. We focus on burgers, wine and brunch, three of the largest trends in London and beyond. We are well positioned to grow as these markets continue their upward trajectory. I’m confident the three sites will become ten as we continue to grow.” The crowdfunding campaign is offering an opportunity to invest in Full Larder, which trades as Ben’s Canteen. Ben’s Canteen is an award-winning concept having been voted Best Restaurant in Wandsworth in the 2015 and 2016 Time Out Love London Awards and named among the Evening Standard’s Top 25 Brunches in London.

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