Besides having a very witty name, plant-based fast-food chain, Lord of the Fries, is planning an expansion in New Zealand by raising growth capital on PledgeMe. The company is seeking up to NZ $2 million with a minimal hurdle of $1 million.
If the company raises the full $2 million investors will receive 25% of the company.
Lord of the Fries claims to be Australasia’s largest Plant-Based fast-food chain. The company is also said to be New Zealand’s only 100% vegan franchise system.
Lord of the Fries NZ, or “LOTFNZ” is a separate legal entity to Lord of the Fries Australia or “LOTFAU.”
LOTFNZ operates under a master franchise license from LOTFAU and pays it continuing royalty and marketing contributions. The master franchise license is for a period of 10 years (which started in 2016) and provides for a further right of 10 years. LOTFNZ is financially independent of LOTFAU.
According to the offering page, LOTFAU now has over 25 stores in Australia, with plans to reach 50 sites during the next few years. In New Zealand, LOTFNZ currently has 4 stores.
Lord of the Fries came to New Zealand in 2016 so it looks like the owners want to speed things up a bit.
Founders Bruce and Bashko Craig explain their philosophy as it is easier to change the ingredients than it is to change the habits of the population.
“We can be, and are, part of the solution the world needs … Our want is to move faster with our expansion plans…and to become the best known and best-loved fast-food chain in New Zealand,” state the Craigs. “We believe our customers will want to come along for the LOTFNZ ride, support our purpose and benefit from our success as the market transitions to plant based foods.”
The securities offering just went public today with a private launch last week. At last glance, NZ $133,822 has been committed by 109 investors.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!