East Midlands burger group Meatcure pulled out of a crowdfunding round after being inundated with “silly questions” from would-be investors, MCA has learnt.
Rob Martyniak said he and co-owner Paul Rigby initially appreciated the attention from the £350,00 Seedrs campaign earlier this year, which was aimed at funding a further five sites by 2017.
But after uncertainty around the Brexit vote left them time to reflect, they decided to drop out of the process after being “pulled from pillar to post” by people looking to invest.
Meatcure, which was inspired by the US-style better burger craze, has restaurants in Market Harborough, Leamington Spa and Leicester, with sites in Bedford and Hinckley due to open before Christmas.
Hicnkley will debut a new concept OYPT in the basement, an American type music bar serving craft beer and cocktails.
Speaking of the crowdfunding process, Martyniak said: “When Brexit the whole world stopped. During that time we had time to think and reflect at where we were at.
“Then we started getting questions about our inside leg measurements and where we were going to be in five years.
“In the end the numbers just didn’t add up. We were getting pulled from pillar to post and asked silly questions. We were working so hard we were not enjoying the process. We just thought, let’s drop this.
“It feels like we’re a really cool brand that everyone’s looking at – but all they care about is the pound sign. We’re in it because we love it. If we wanted quick money we could have dumbed down the product.”
Martyniak said they could revisit crowdfunding but are able to self-fund their current target of one or two sites a year in Midlands market towns.
He said they looked for smaller quirky buildings, such as old pubs, turned them round and had helped bring tired streets back to life.
