Leeds-based bar operator Arc Inspirations is eyeing joint ventures with national operators as it seeks to roll out its three core offers, MCA has learnt.
Co-founder Martin Wolstencroft told MCA that the group had spent the last few years refining its offer in concepts, such Banyan Kitchen and barbecue-centred Pitt, and was now interested in forming relationships with operators controlling large estates.
He said: “If you look at what Enterprise Inns are doing – they are looking for people with the proven trading models than revitalise the sites they own. That’s an attractive model for us and we have been having serious discussions with big operators.”
This week, the currently 13-strong operator announced that it had secured a £1.5m growth capital loan from Santander, which will allow it to open two new sites this year, including the fourth Banyan, which is due to open in the former Loch & Fyne site in the centre of Leeds next month. Wolstencroft said discussions were ongoing on a number of other sites but none were in legals.
He said the group had set itself a target of two years going forward, which he said should be achievable through cashflow. However, he said joint ventures could accelerate rollout.
Last year Wolstencroft announced the company was segmenting its offer with one operations manager for the Banyan brand; one for The Pit and New-York themed bar concept Manahatta; and one for the group’s student bars and aspirational neighbourhood sites.
The latter group includes Kith & Kin Bar & Kitchen. The second Kith & Kin is set to open in the autumn in Arc’s former Kobe bar and restaurant in the Horsforth area of Leeds.
