Taylor St Baristas to double business size

By Melodie Michel contact

- Last updated on GMT

Taylor St Baristas has already raised a quarter of its target
Taylor St Baristas has already raised a quarter of its target

Related tags: Coffeehouse, Espresso, London

Taylor St Baristas is hoping to raise between £1.5m and £3m through a mini-bond on Crowdcube to double the number of its venues in the next two years.

The Coffee Bond is the fifth mini-bond to be hosted on the crowdfunding platform – after the success of Chilango’s Burrito Bond​ – and has already raised £385,000.

The funds will be used to open four shops in 2015 and another six in 2016 – all in London. “It’s very early stages but we’re in talks for one location at a major transport hub, and another in the City. There is so much opportunity in London, so we’re staying in the capital for now,” said co-founder and chairman Nick Tolley.

Store credit

Investors can choose to have their coupon paid at the rate of 12 per cent a year in store credit, or 8 per cent a year in cash, and the bond has a four-year term.

“So many of our regulars have asked to get more involved in Taylor St.  Something like this will give them just that opportunity.  It will allow them to benefit directly from the support they daily give our business,” explained Taylor St chief executive Richard Shaer. 

Speaking to BigHospitality, Tolley added: “We’re very confident that we can reach our target – we’ve already raised a quarter of it in just a week. It seems to have captured people’s interest.”

Founded in 2006 by Australian siblings Nick, Andres and Laura Tolley – also the team behind Harris + Hoole – Taylor St operates on a quality coffee model, serving precisely crafted coffee from all over the world. The firm, which now has eight shops across London and one in Brighton, hopes that the artisan coffee preference observed in consumer trends will continue to support its success.

‘Quality’ segment

“This is a great time for Taylor St to be growing its business. Every day, we’re seeing new people walk through our doors in search of better coffee, and the size of this ‘quality’ segment is only getting bigger.  As one of London’s leading speciality coffee houses, we’re exceptionally placed to benefit from this consumer trend towards quality coffee,” added Shaer. 

Luke Lang, co-founder and CEO of Crowdcube, said: “Mini-bonds enable companies like Taylor St to raise growth capital and really involve their customers in the business. For customers and investors, the opportunity to invest in companies they already know, and want to support, as well as receive a regular financial return on their investment, can be hugely appealing.”

Related topics: Business, Restaurants, Pubs & Bars, Venues

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