Honest Burgers, backed by Active Partners, has successfully surpassed the £2 million mark in its ongoing crowdfunding campaign, with nine days remaining for fundraising. Having already secured £1 million from Active prior to the campaign's initiation, the 40-strong company has now garnered £2,027,551 from 1,962 investors as of Sunday morning (1 October). The fresh infusion of capital is earmarked for a return to expansion and the launch of a novel premium quick-service concept named Honest Smashed.
The inaugural Honest Smashed site is anticipated to occupy the former YO! location at 5-14 St Paul’s Churchyard in London. Spanning approximately 2,300 square feet, this central site sets the stage for the new format. Honest Burgers envisions Honest Smashed as a streamlined and scalable concept designed for frictionless customer experiences and operational growth. The company foresees the potential for international expansion, possibly through franchising.
Honest Smashed outlets are strategically positioned in high-profile and high-footfall locations such as travel hubs and shopping centers. The company emphasized the adaptability of the new format to different locations and footprints, anticipating larger sites with layouts optimized for smooth customer flow and efficient order pickup. Digital ordering is slated to play a pivotal role in enhancing the overall customer experience.
Responding to a crowdfunding query, Honest Burgers acknowledged that an additional £5 million investment is earmarked for the year ending January 2025. While no definitive decision has been made about returning to crowdfunding, the company considers it a viable option contingent on the successful proof of concept from the current fundraising campaign. The potential for further engagement with the crowd remains on the table as Honest Burgers explores avenues for sustained growth and innovation.
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