Food company launches bid to open first Southsea restaurant
A FOOD business that reinvented the British classic bubble and squeak has launched a crowdfunding campaign to fund the opening of its first restaurant in Southsea.
Bubble& was founded in August 2013 by Rupert Smith, who has been a chef for more than 25 years, and Marita Lietz.
For the past two-and-a-half years, the business has been selling its gourmet dishes at events, markets and festivals, including Love Southsea Markets, Hampshire Farmers’ Markets and Victorious Festival.
It has also inspired Michelin-starred chef Mark Froydenlund on BBC2’s The Great British Menu.
The co-founders are on a mission to create an iconic restaurant brand.
Inspired by his desire to put this classic back on the menu with a gourmet tweak, Rupert is excited about Bubble&’s crowdfunding campaign.
‘Crowdfunding gives people who love our food and brand an opportunity to become shareholders in our company,’ he said. ‘We’re offering some amazing rewards too.’
Bubble& has now launched a campaign on equity crowdfunding website Crowdcube to raise a minimum investment of £100,000 in return for a 16.67 per cent equity stake in the business.
The money will support the opening of a 45-seater eatery in Southsea, with the proceeds being used to fund capital expenditure on the kitchen, bar, furniture, construction works and pre-opening costs.
The casual dining restaurant will target professionals, residents, families and general ‘foodies’.
Based on the company’s current following, the eatery will also be attractive to the gluten-free, vegan and vegetarian sectors.
Marita said: ‘People ask us on a daily basis “where is your restaurant?”. It’s time for us to take that next big step.’
In its pitch on Crowdcube, Bubble& has outlined its ambitions to open five new restaurants in the south east over the next five years, with hopes to become a nationally recognised brand.
For more go to crowdcube.com/bubbleand