Black Sheep Coffee has 51 sites in the pipeline which were agreed pre-pandemic which it expects to open in the next 12 months.
The 49-strong coffee shop operator said of these new shops, around half would go to franchisees.
Writing to investors, the company also revealed it was tendering to a number of UK airports, and was seeking to open in the US, with Austin and Dallas, Texas key priority cities.
During the financial year, the company opened 14 new shops and entered five new cities.
It launched a new franchise agreement, with its debut site opening in the AC Hotel in Birmingham, part of the Marriott Group.
It achieved a new weekly systems record of £437k.
Black Sheep also introduced self-ordering screens, which it says increased ATV (average transactional value) by 18%.
The company achieved 19% EBITDA at shop level (£278k) and EBITDA of 7% (£107k) at company level.
Revenues for the full year 2021 were £10.2m, with gross profit of £7m.
The company suffered with significant staff shortages in October 2021, with 87 vacancies forcing it to temporarily shut shops.
It launched a major recruitment drive, increasing wages by 10%, though was then hit by Omicron.
Though this new variant was described as a “disaster”, Black Sheep resumed trading, breaking “all time sales records” by the second half of February.
By the end of March, 38 shops were in positive EBITDA, with seven ramping up.
On its debut franchise in Birmingham, Black Sheep said it had achieved a sales increase compared to the previous Starbucks operation.
The group said it was building a “strong pipeline of franchisees that will help us delivery on the ambitious number of shops we intend to open int he coming months without resorting to raising tens of millions of pounds”.
Franchising in the UK will allow Black Sheep to open “more shops with less money”, and also improve operations in the long run.
It is also launching two new grab and go ranges, which are expected to increase ATV by 7% and contribute to like for like sales growth above 25%.
