Cribbs F&B, the Cheshire-based operator of the Circle 360 Champagne and cocktail bar brand, plans to grow to at least 25 UK sites and as many as 150 overseas outlets under franchise, M&C Report has learnt.
The company already runs three corporate sites at Intu-owned shopping centres: at the Trafford Centre in Manchester, the Metro in Gateshead and at Braehead in Glasgow. It has lined up three more before the end of the year, at Buchanan Gardens in Glasgow, Trinity Leeds and its Lakeside in Essex. A couple more are in legals.
Operations director Norris Panton told M&C Report: “We are very ambitious. There’s opportunity beyond the UK to go to places like Istanbul and Dubai and to other European countries as well where the market is not dissimilar.”
He said the plan is to develop a pilot franchise model in the UK, with franchise and corporate outlets openings simultaneously. He expects the corporate estate to grow to 10 before the first franchise is launched; in May the company said it plans to open eight over the next 12 months.
In terms of the UK, Panton said: “The goal is to have at least 20 sites. We are targeting the top 20 shopping centres in terms of the mix of retail and customer.”
He said more Intu centres would be a focus. “They have an understanding of the dining experience beyond just food and drink. It’s a really good fit for us.”
Transport hubs would also be targeted, and Panton said discussions have taken place about opening at Manchester Airport.
“Regional airports represent a great opportunity,” he said. “As a holiday maker your holiday starts at the airport and you start buying the things you need from retail then you have a chance to treat yourself.”
Sites at train stations are also a possibility, he said, highlighting Liverpool as an area of opportunity.
Panton said he hoped to have the first international site open by the end of this year.
“We spent some time in Istanbul in April and we visited half a dozen regional shopping centres. We’ve already identified a number of opportunities there and also in the Middle East, in Dubai.
“If we can achieve 25 in the UK, which seems achievable, then the franchise [operation] has the scale to reach 100 to 150 sites across Europe and the Middle East.”
360 is looking to use Crowdcube to raise funds and also attract potential franchisees.
Panton said its first site at the Trafford centre, which opened two years ago, is doing a “roaring trade”, with sales up 25% in year-two.
The bars offer a range of more than 20 Champagnes, cocktails made to order and barista-style coffees. Panton said the aim is to give customers a “bit of the high life” at an affordable price. Average spend per customer is typically £8 to £10.
