Ready Burger smashes crowdfund target as it prepares for 'rapid expansion'
With 29 days left on the Crowdcube campaign, the crowdfund has now gone into 'overfunding'. At the time of writing, £1.76m has been raised from 369 investors.
Ready Burger, which bills itself as the 'first value-driven, fully plant-based quick service restaurant in the UK', was originally aiming to raise £1.5m in return for 19.61% equity, giving a pre-money valuation of £6.9m.
The group recently opened its debut venue in London’s Crouch End, and is set to open a second restaurant on Finchley Road later this summer.
A third and fourth site already planned, with the group eyeing 'rapid expansion' that targets 'densely populated, high footfall locations'.
Founded by entrepreneur Max Miller and chef Adam Clark, the former personal chef to boxer Anthony Joshua, Ready Burger serves a 100% plant-based menu at prices similar to those of fast food giant McDonald’s.
The brand’s signature The Ready Burger costs £1.99 and is described by its founders as the only plant-based burger of its kind on the market for under £2.
Other options include The Big Ready (£3.59), The Chicken Challenger (£4.29), and the Saver Menu Double Cheeseburger (£3.39).
Ready Burger’s menu prices are significantly lower than many of the other new vegan burger concepts, including the Lewis Hamilton-backed Neat Burger, where burgers start at £6.49 with the option to add extras and whose eponymous Neat Burger costs £9.49.
Halo Burger has a similar price point, with a cheeseburger priced at £6 and its Halo Burger priced at £9.50.
