CrepeAffaire, the fast casual crepe café chain, has announced plans to open its first US sites in the first half of 2019.
Founder and chief executive Daniel Spinath said the company, which earlier this year secured a £2m investment from the Business Growth Fund (BGF), was in early discussions to identify potential US food and beverage joint venture partners for the concept’s launch in the States.
CrepeAffaire currently has 20 locations open and 12 under development in four countries in Europe and the Middle East.
“We are enthusiastic to introduce CrepeAffaire’s unique concept to the U.S. consumer,” said Spinath. “The brand’s sweet and savory crepe menu is highly relevant and versatile, with delicious and wholesome meal and snack options that attract an all-day client following. This includes a growing volume of take-out and delivery. Combined with our coffees and juices, CrepeAffaire offers a universally pleasing product selection that earns a steadfast, repeat clientele.
“Recent research indicates that the best-in-class café chains are lucky to see an EBITDA of 15%, compared to CrepeAffaire locations, which consistently average over 20% EBITDA and range up to 30%.”
He believes that CrepeAffaire’s wide flexibility of formats will aid the brand’s site selection and expansion in the US.
Spinath said: “With London’s extreme real estate costs, CrepeAffaire learned the importance of space utilization with our early locations. Since our crepes are prepared on hot plates, we avoid the build-out costs and space requirements of full kitchens and complicated hood ventilation systems.”
CrepeAffaire’s formats range from traditional cafe locations to kiosks and food trucks.
In August, the company appointed Allen Kerslake, formerly of Costa and Pret A Manger, as its new managing director.