A raft of new regional development deals signed by easyCoffee will allow the value-led concept to reach 100 sites, its chief executive Nathan Lowry has told MCA.
Lowry said he was looking at sites in Milton Keynes, Luton, Orpington, Swindon, Liverpool, Manchester, Edinburgh and Glasgow, with the multi-side agreements giving the brand a good spread across the UK.
The partners are made up of experienced multi-site operators, from the petrol station forecourts, convenience stores and fast food, who are keen to move into coffee, with committed openings amounting to half of the brand’s 200 site target.
Lowry is seeking out 1,500-2,500sq ft, high footfall High Street sites, as well as kiosks in travel hubs and shopping centres, with an adjacent ‘kid’s zone’ being offered in the latter, to tap into demand for experiential leisure.
Lowry told MCA: “The area development deals will be our next new wave of openings, and give us a good spread all over the country. We decided to work with them as opposed to lots of individuals to give us scale and get as moving apace.
The brand is in the process of raising £3m in second stage funding, and Lowry has instructed a brokerage firm to approach high net worth individuals, private equity groups and institutional funding.
The finance will fund the growth of easyCoffee’s management team, franchising business, vending business, as well as flagship corporate stores.