PFC Group, the Wok & Go operator, has launched a crowdfunding campaign in order to open a flagship store in London under the Asian Fusion concept.
The company, which has generated revenue of £7.4m with EBITDA of £483k for its FY 2017, is hoping to raise £500k toward the flagship site and is offering 5.26% of equity in the business.
The concept, which was founded by Des Pheby, currently operates 24 sites across the UK with plans to open another 13 in the next year. It also operates two sites in the Middle East.
It said it was on track to sell over 1.1 million boxes of noodles this year.
Pheby said: “The London store will require c£200k in capex and c£300k for lease purchase, fit out costs and launch costs based on the store delivering a positive contribution after three months of opening. If we raise more than £500k, we would look to finance a second central London location.
“We plan to open a new UK franchise per month and to increase our international roll out in 2018. All UK store fit outs are managed by our in-house team - driving further revenue & ensuring quality control over the new stores as we scale.”
It has so far this morning raised just over £1,500 from 12 investors.
