Redemption Bar, a London-based healthy hospitality brand, has launched an equity crowdfunding campaign on Crowdcube. The company is now seeking £300,000 through the funding round as it prepares for the opening of its two new sites in Covent Garden and Southbank Place, with a future goal of global expansion through franchising.
Established by former Brand Director of Virgin, Catherine Salway and New Zealand Restaurateur and Raw Vegan Chef, Andrea Waters, Redemption Bar was notably created with the aim of providing diners an opportunity to ‘spoil yourself without spoiling yourself’. It was revealed that the entrepreneurial duo wanted to prove that socializing with friends didn’t have to be at the expense of your health, serving delicious plant-based, vegan and gluten-free food, refined sugar-free raw desserts as well as booze-free cocktails, wine and beer. Menu highlights include dishes such as sweet corn and red pepper pancakes; probiotic booster bowl and pulled barbecued jackfruit and superslaw. In addition, they also offer an extensive list of smoothies and non-alcoholic cocktails, such as the pious pina colada and the activated charcoal martini.
Redemption Bar launched its first site in Notting Hill in August 2015. After great success, Salway and Waters opened a second site in Shoreditch in January 2016, which broke even within the first three months of opening and now generates a 10% net profit per week. For those looking to invest, a range of rewards are available including free drinks when dining at Redemption Bar, chef tastings events, workshops and 50% off the bill when you dine at any of the Redemption locations. Salway stated:
“We are on the cusp of a really exciting growth plan – as well as launching two new sites in central London we are very optimistic about ethical franchising across the globe. The brilliant thing about crowdfunding is that the customers who’ve made us successful can get involved in this next stage.”
Salway and Waters have also been working on their first cookbook, Redemption Bar: Cocktails & Canapes, which will be available worldwide from September 2018.
Since its launch, the campaign has secured more than £65,000 from nearly 75 investors. It is set to close at the end of April.
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