Friska plans national roll-out following £1.25m investment
The funds were raised through two angel investors and Santander following an impressive year from Friska, which increased sales by 50 per cent across its four existing sites between 2013 and 2014.
Co-founders Ed Brown and Griff Holland will open the first new Friska site in Bristol, before taking the concept to Birmingham in early 2015 and then Manchester.
The 10 new sites are the first step in a more ambitious national roll-out plan, and the pair are currently in discussions with an international franchise operator to take Friska to new developments in major leisure and transport hubs.
“This is absolutely fantastic news for Friska. Since opening in 2009 we have always had big plans and have been focused on growing a successful and crucially, well-loved business by our customers and colleagues alike. To see the plan coming together is just fantastic,” said Brown.
“This year really has been the most exciting one yet. Our focus on redefining expectations within our sector is becoming a reality and we can’t wait to open in Birmingham and Manchester. Lunchtimes will never be the same again,” added Holland.
Friska success
Friska, which serves breakfast, lunch and coffee with a focus on fast food made from fresh ingredients, opened its first outlet in Bristol in 2009.
The healthy grab-and-go concept has proven a hit with Bristol’s young professionals and the company is forecast to hit over £2.5 million pounds in turnover coupled with ‘healthy’ profit margins next year.
The company was listed on the Smarta Breakthrough 50 last year and named a winner in the O2 Smarta 100, as well as coming regional runner up for the PwC Private Business Awards for Emerging Entrepreneur of the Year and Private Business of the Year. Brown and Holland also took home the startups.co.uk Young Guns award and topped the Business West Insider’s top 42 Under 42.
Peter Doe of Isca Ventures, who oversaw the funding deal with colleague Matt Eves, said Friska’s ‘on the money’ customer proposition and ‘efficient operations’ made it an attractive option for investors.
