The founders are already almost 70% towards their crowdfunding total to enable the opening of a second restaurant, having raised £136,000 towards their £200,000 target from 56 investors since the fund went live over the weekend (30 November).
The second restaurant will be part of what the founders describe as a ‘monetisation strategy’ and will be ‘strongly value led’ serving a menu that is more efficient to prepare and at a lower price point than at the original Shoreditch restaurant.
The founders also say they are looking into the possibility of moving Som Saa into the grab-and-go, food halls and takeaway sectors of the market.
“By taking our experience and track record of offering exceptional quality Thai food, and then applying it to a more efficient and scalable menu we intend to stand alongside industry friends like Bao, Padella and Flat Iron,” they say.
“Ultimately, we believe this will feed through to healthy margin, establish a model for further growth and build a platform from which to explore future concepts - food halls, grab and go sites and takeaway brands are amongst a number of formats which are of interest.”
The original Som Saa restaurant reported £273,000 EBITDA in the 12 months ending October 2019 and had an annual turnover of £1.95m in 2018/2019.
The second restaurant will be in a central London location with a minimum of 80 covers.