The Sloane Bros., an East London-based frozen yogurt brand, has launched an equity crowdfunding campaign on Crowdcube with a mission to raise £150,000 as it prepares to open new locations throughout the UK.
The company offers fat-free frozen yogurt that celebrates British dairy quality, taste, and tradition. It also has four key flavors Natural Yoghurt, Chocolate, Berries and Dulce de Leche, along with picks from the company’s Master Yoghurteers. The Sloane Bros. opened its first shop on London’s Brick Lane in June 2015 and then opened its second location in Nottingham’s Into Victoria Centre not long after. The shop’s team stated that the shops’ early results were mostly driven by word of mouth.
“Our key strategy for encouraging word of mouth is to be active on social media and engage with influencers in this space. We have targeted organic growth, only giving away free product and asking for a fair assessment. In addition, we have started discussions with shopping centres and are in early stage talks with potential overseas franchisees. We believe this interest demonstrates a real gap in the market for a distinctly British premium frozen yoghurt brand.”
Besides being used for new locations, Sloane Bros.’ Crowdcube funds will also go towards launching its B2B package products business and set up its franchising infrastructure. The company also noted that it has so far received £150,000 from private investors and also converted a director loan of £175,000 into equity. It also has a loan of £25,000 from Virgin Start-Up and£100,000 from Lancer Capital. Since its debut, the campaign has so far raised more than £20,000 from over 20 investors. It is set to close at mid-February.
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