SteakOut launches £400k crowdfunding campaign towards expansion

SteakOut opened its first London store in 2008 and expanded to eight franchised restaurants across the UK from 2013-15.

Now founder Kaysor Ali is aiming to raise £400,000 to invest in a new flagship site in Stratford and upgrade the group’s meat cutting facility to allow a roll-out of restaurants across the UK.

Writing on its Crowdcube page, SteakOut said: “We are profitable…and want to do for steak what others have done for sushi and gourmet burgers.

“We would look to emulate the success stories in UK casual dining including Byron for gourmet burgers and Nando's for grilled chicken.”

SteakOut serves steaks, burgers and meat pies with a range of signature sauces.

The group is anticipating ‘rapid growth’ of the brand and are looking to expand their management team ahead of expansion.

Speaking in a video on the Crowdcube page, Ali said: “The casual dining sector is growing fast and we want to ride this wave on a steak surfboard.”

SteakOut has restaurants in London, Slough, Woking, Leicester, Southall and Harrow.

At the time of writing the group have raised £87,000 with 18 days to go.