Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

Steakout plans Middle East expansion

26 April 2016 by
Steakout plans Middle East expansion

Steak house chain Steakout has added the Middle East to its expansion plans. The firm is currently trying to attract crowdfunding to facilitate ambitious growth projections.

Founder Kaysor Ali said he had "signed a master franchise agreement with an investor" with plans to open six outlets in the Middle East by the end of 2017. "We are expecting this deal to increase our turnover by 20% and our profit by 50%," he said.

The firm estimated revenue for the year to March 2016 at £1.2m, which he said was set to triple by the end of 2017 with the acquisition of the Middle East contract.

With eight existing stores, the operator plans to open four more outlets in the UK this year. It aims to have a total of 26 restaurants by 2020.

"We will be investing in our operations, adding franchise and operational specialists to the team and upgrading our meat cutting facility to support the planned store rollout and grow the franchise capability. We will also be opening an exciting flagship restaurant in Stratford," said Ali.

With 10 days left of its Crowdcube campaign, Steakout has raised £128,720. Its target is £400,000 in return for 11.76% equity.

Hanger sw6 steak restaurant to open in Fulham >>

John Benson-Smith teams up with brothers to open steak and burger restaurant >>

Steak out >>

*Are you looking for a new role? See all the current restaurant vacancies available with The CatererFONT >>*

Latest video from The Caterer

The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking