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Fri 17th Jun 2022 - Megan’s staff to share £5m bonus, Starbucks franchisee eyes 200-strong estate after £10m funding package
Megan’s staff to share £5m bonus, plans Bristol opening: Megan’s, the fast-growing, cafe and deli concept, has set aside a £5m bonus to be shared between its team. The bonus will be shared between its current and future general managers, head chefs, assistant general managers and sous chefs, as well as its support office team. Megan’s began its journey in the Kings Road in 2002 where the original opening still stands and the general manager and head chef are still with the business today. Megan’s opened its second location in 2018 and has since experienced huge growth and success, continuing its expansion through covid; and now has 17 sites. Megan’s said it wished to reward and recognise the contribution its teams have made, leading to its very own “Megansza bonus”. The group is on track “to play a key role in numerous neighbourhoods by the end of 2022”, including openings in Welwyn Garden City, Richmond and Guildford. Further locations are planned for the next two years where it also plans to introduce the brand to Weybridge, Crouch End and Farnham, as well as Bristol – its first opening outside of south east England. Gillian Clements, finance director at Megan’s, said: “As we continue our rapid journey of growth into 2023 and 2024, our teams remain at the heart of all that Megan’s do. It is testament to the business the original head chef and general manager of the first location are still with the business. Our teams and the unwavering commitment from them underpins the continued success and is central to our bold and ambitious business plan goals. We are delighted to be sharing that success among the teams through the £5m bonus, and I’m excited to see what we’ve achieved by 2024.”

Starbucks franchisee The Magic Bean Co eyes 200-strong estate in next five years following £10m funding package: Starbucks franchisee The Magic Bean Co plans to create more than 4,000 jobs as part of a major expansion following a new £10m funding package from HSBC. The Magic Bean Co, which was established in 2014, plans to increase its currently 24 Starbucks franchise operated sites to 200 over the next five years. The business, which reported a £17m turnover in 2021, intends to launch nine new Starbucks sites this year, with locations to be announced. The business, which also owns franchised sites for Denny’s, currently employs 370 staff and is working with Starbucks to identify opportunities for growth in new locations. Leon Esfahani, chief executive of The Magic Bean Co, said: “As more and more companies enter the drive-thru market, we are marking an exciting new chapter with this funding, which will allow us to accelerate our rate of growth. The funding will help deliver on immediate and longer-term growth plans – meaning we can continue to provide an exceptional service in our communities and, most importantly, give back.” Warren Lewis, head of corporate Banking Wales for HSBC UK, added: “The demand for drive-thru and grab-and-go services continues to grow across the country and the well-managed Magic Bean team is poised to take advantage.” Starbucks is included in Propel’s UK Food and Beverage Franchisor Database, an exhaustive guide to the companies offering a food and beverage franchise in the UK. The second edition, featuring 120 companies and almost 47,000 words of content – providing insight on the offer, locations, cost, business background, contacts and other key details – was sent out to Premium subscribers last month. It will be updated and sent out again every two months. Companies can now have an unlimited number of people receive access to Propel Premium for a year for £895 plus VAT – whether they are an operator or a supplier. The single subscription rate is £445 plus VAT for operators and £545 plus VAT for suppliers. Email jo.charity@propelinfo.com to upgrade your subscription

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