London-based Ben’s Canteen launched an equity crowdfunding campaign on Crowdcube last week. The company secured £150,000 from friends, family and a small group of Canteen customers before publicly launching the initiative. It is now nearing £400,000.
Founded in 2011 by experienced multi-channel marketer, Ben Walton, Ben’s Canteen currently has two venues in Battersea and Earlsfield (SW London). The company stated it is expecting to open a third restaurant at the Battersea Power Station development in September 2017.
“Ben’s Canteen is an alternative to the pub; with the informal spirit of a great bar, but without Sky Sports and tap after tap of beer. Every night, delicious burgers are paired with exciting wines. During the day you can enjoy indulgent brunches with top notch coffee and what we know to be some of the best Bloody Marys in London.”
The restaurant’s crew also noted:
“Ben’s Canteen is a casual all-day dining concept, specializing in Burgers, Wine, and Brunch. It’s an affordable, indulgent, treat with an average spend of £19. We see our key differentiators as that we have a 70% female customer base, we focus on wine rather than the ubiquitous craft beer, and that we are primarily a destination for young working professionals.”
Ben’s Canteen currently serves an average of 2,000 customers a week. Its core audience is 18-34 with a 70% female bias. The restaurant was voted Best Restaurant in Wandsworth at the Time Out Love London in Awards 2015 and 2016. Its brunch was also named Top 25 in London by the Evening Standard.
Funds from the Crowdcube campaign will be used for fit-out and equipment for the Battersea Power Station restaurant along with working capital. The company stated its maximum funding target is £475,000. The initiative is set to close at the beginning of April.
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