Arc Inspirations, the Leeds-based bar operator, is planning to open 20 venues by 2017 following an investment of £1.2m in its latest concept, a New York-themed bar called Manahatta that opens in Leeds in mid-October, M&C Report has learnt.
“So far all developments have been through cash flow, we haven’t taken on any debt. But we will be looking for external finance to roll-out more than three new sites next year,” Martin Wolstencroft, who leads the company told M&C Report.
“We are looking for sites for the Pit and Banyan and aim to open three to four new sites for the next three years; we would like to see 20 by the end of 2017.”
The company has recently opened its first bar in Harrogate under the Pit concept that offers traditional American barbeque food with a range of cocktails, wines and craft beers in an urban setting.
Wolstencroft said the Harrogate Pit took £80k in its first week of trading and has given the company the confidence to move forward with the conversion of the basement of Trio, in Headingly, Leeds, into the fourth Pit bar.
Wolstencroft said the company is looking at various towns in the north for new venues, and “may look over the Pennines to Manchester” while also considering openings in York and Sheffield.
“The beauty of the Pit is it can be opened as a new standalone acquisition or has the flexibility to open up within one of our existing bars. It reflects where the market is at the moment. I think it has proven popular because it’s a great design, with great products delivered by great team and it’s very different to other offerings in Leeds.”
The company operates 12 bars and restaurants across Yorkshire.
