Honest Burgers to 'challenge the big guys' with a move into QSR

05-Sep-2023 - Last updated on 05-Sep-2023 at 13:04 GMT

Honest Burgers is looking to make a play into the quick service restaurant (QSR) sector as part of its new expansion plans.

The restaurant group, which operates more than 40 casual dining sites across the UK, is launching an equity share crowdfunding campaign to raise investment with the first QSR site planned to open in London early next year.

Backed by existing investors Active Partners with a further £1m investment, the crowdfunding campaign is being launched later this month on Crowdcube.

Honest’s founders Tom Barton and Phillip Eeles say the plan to create an Honest Burgers quick service restaurant has been fuelled by the success of its lighter and lower priced smashed burger that launched last year (pictured below).

Alongside a new range of burgers, sides and milkshakes, they believe they can challenge bigger brands in the market ‘in a set-up built for speed of service, convenience and value for money’.

The company says it has set its sights on the premium quick service burger market after growing by 23% this year. It reports that it is currently on track to have a record sales year of £55m.

Honest is 'here to stay'

“The hospitality industry has been hit hard over the last few years with some even saying that the premium burger bubble had burst but today’s announcement proves Honest Burgers is here to stay," says Honest Burgers CEO Frank Hayes.

"Thanks to our loyal customer base we have continued to grow whilst never compromising on serving the best quality burgers and chips we can, to make our customers feel at home and to offer great value with no gimmicks.

“It’s exciting to take the brand to the next level with an ambitious plan to open more Honest restaurants, building our presence in regional cities as well as London. But we also believe that our new restaurant format can challenge the big guys in the premium quick service burger market. We never dreamt Honest would get to where is it today, but we have big ambitions for our future and we hope our customers will join us for the ride.”

The company is offering a range of benefits to those who purchase an equity share in the business that include free burgers, regeneratively farmed steak box and the chance to host a free burger party at one of its restaurants. Investments start from £10.