Jewish deli the Good Egg has launched a £500,000 crowdfunding campaign to open a second site in Soho’s Kingly Court.
In two days, it has raised over £200,000 from 75 investors.
The first Good Egg restaurant opened in Stoke Newington after a successful crowdfunding campaign in 2015.
It serves Jewish deli and Israeli-inspired brunches, bagels, pitas and small plates alongside a sharing dinner menu and American cocktails, craft beers and natural wines.
The Soho site will accommodate over 100 covers and feature a feature a bakery and retail area that serves Israeli-inspired baked goods and extended brunch and dinner menus for eat-in, takeaway and delivery.
Funds raised will be used for Capex and pre-opening costs.
Investors are rewarded with a bottle of wine (£100); a meal for two (£500); a meal for four and a gift box (£2,000); 5% lifetime discount plus a meal for four (£5,000); 10% lifetime discount plus a meal for four (£10,000); 25% lifetime discount plus a meal for four (£25,000); and a private meal for 11 cooked at the investor’s home (£100,000).
The brand plans to open another restaurant before 2020 and has an exit-plan in place. The crowdfunding page states: “We know that the industry has recently attracted and is capable of attracting exits and our own exit strategy modelling is based on medium to long term opportunities accordingly. We plan an exit in three years’ time when the group has three restaurants.”
Co-founder Joel Braham left a career in acoustic consultancy to open the Good Egg with head chef Alex Coppard. Braham said: “Over the past two years we’ve been on this incredible ride in Stoke Newington, from developing Oded’s age-old family recipes, to our pastrami we’ve spent years tweaking… opening in a bigger home in Kingly Court will allow us to take all of that and then some, and pour it into every corner – I can’t wait.”
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