Hotcha Crowdcude Funding Launch
Hotcha, the Chinese takeaway chain franchise, has launched a four-year mini bond on popular crowd funding platform Crowdcube to raise £1m to further develop its franchise brand.
Crowdcube, the world’s first and leading investment crowdfunding platform and the trailblazing team behind Hotcha is delighted to have already raised almost half of their million pound target. Investors have been offered 8% interest per annum on their investment over a four year term.
Hotcha currently operates ten stores across the South West of England and aims to open another 22 sites in the next three years, which will see the company fulfil its ambition to become the first truly national chain of Chinese takeaways.
Hotcha was set up in 2011 by London and Hong Kong restaurant entrepreneur James Liang, who has enlisted the help of former Dominos Senior Executives Andy Emmerson and Clive Mellor to ensure the brand reaches its full potential here in the UK.
Having achieved circa £4 million turnover and EBITDA of circa £265,000 in the financial year ending 31 March 2015, Hotcha now estimates turnover will grow to circa £19 million by 2019 with EBITDA of £3.7m.
Hotcha CEO James Liang commented: “The market has been dominated by independent operators who rely on expensive in-house chefs. Hotcha is filling the huge gap in the market for a national Chinese takeaway and delivery chain thanks to our central food production unit operated by our highly experienced executive chefs that delivers ingredients daily to the restaurants.”
The investment raised on Crowdcube will facilitate the opening of a number of new company owned stores around the country, with experienced multi-unit franchise investors opening a series of Hotcha outlets in large territories across the UK.
For anyone investing £50,000 via Crowdcube, Hotcha will waive the normal franchise fee of £15,000, subject to the individual meeting the company’s normal franchise recruitment requirements. The total investment required for a typical Hotcha store is approximately £135,000. An average franchised store should be generating revenues of up to £500,000 per annum with a gross profit margin of 70-75%
These are exciting times for Hotcha as it works towards becoming a household name alongside the other major franchise brands that have dominated their particular food sectors.
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