UK’s Steakout Seeks £400,000 on Crowdcube to Speed Up Restaurant Expansion

London-based restaurant, Steakout, recently launched an equity crowdfunding campaign on Crowdcube to raise £400,000 as it prepares to open new locations throughout the UK.

Steakout, which was founded in 2008, serves celebrity-endorsed steaks from its 8 franchised restaurants around in London, Slough, Woking, Leicester, Southall, and Harrow. The company stated:

“We are profitable and we want to turn steak into the next big thing in casual dining: to do for steak what others have done for sushi and gourmet burgers. We are raising investment to upgrade our meat cutting facility to support a large rollout of stores. We opened our first store in 2008, with the goal of thrilling our customers with quality steaks and our secret barbeque style sauces.  We worked hard to improve our recipes and we re-branded our whole business after partnering with a top design agency in 2013.  At that point our expansion increased rapidly and we grew from 2 to 8 stores between 2013 and 2015.”

Funds from the campaign will be used for:

• Upgrade the company’s central meat cutting facility to support a large rollout of stores
• Part-fund the fit out of the company’s new flagship store in Stratford

Those who invest in the company will receive the following:

• Invest £10: Free gourmet beef or chicken burger
• Invest £100: Free meal with drinks for you and a partner
• Invest £1,000: Free meal with drinks once per year for 3 years
• Invest £2,000: Free meal with drinks once per year for 4 years
• Invest £5,000: Free meal with drinks for you and up to 4 others
• Invest £10,000: Your meal partner eats and drinks for free for a year
• Invest £20,000: Half off your bill any time for 1 year, for up to 5 guests at a time

Since its launch, the campaign has successfully secured nearly £90,000 from 50 investors. It is set to close at the beginning of April.

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