LONDON HOUSE WOKING LLP
Specialising in modern European cuisine, London House Woking LLP (trading as London House) is the creation ofMasterChef finalist Ben Piette and his business partner Lornette Valentine.
The pair have put a great deal of elbow grease into the business, taking it from nothing and turning it into a thriving restaurant that employs eight members of staff – and they’ve achieved all of that without ever having to draw a bank loan.
The business has a regular customer base, and current monthly sales stand at around £24,000 with £7,200 profit.
Having met success at its current location, the business can no longer cater for growing demand for its Michelin-recommended restaurant. It is now ready to expand by moving out of the current site and into bigger premises which will provide adequate room into which the business can grow.
The new restaurant will accommodate 20 guests in the bar area, 36 (minimum) in the dining area and up to 12 in the private dining suite. This will represent around a 50% increase in size from the previous location, which can currently hold a maximum of 36 maximum and doesn’t have a bar or private dining room. The kitchen at the new site is also larger.
With more space to accommodate a greater number of guests and diners, combined with a more central location, the business expects to increase turnover to £446,645 in 2015 with a net profit of £33,595 in year one.
The business requires a £50,000 loan to fund the relocation of the restaurant and its refurbishment. Help this MasterChef star progress his highly rated business.
Purpose of Loan
The £50,000 funding will be used to help with the relocation and fitting out of the new restaurant. This will include interior building work, plumbing, installing a bar area and the refurbishment of the staff toilet. The funding will also cover redecoration throughout.
Ben has 20 years experience in the catering trade and has been running London House for four years now.
In January 2012 the company received a visit from Michelin inspectors and following that, and a discussion about guides etc, the company was privileged to be listed in the 2013 guide.
The company still strives for a quality offering to all its customers, and has maintained its high standards to be able to be listed in the Michelin guide for 2014 & 2015.
Why lend to us?
The business started London House Woking LLP with no bank loan, no investors and in the middle of a recession 5 years ago. The company now has first-hand experience of how to make a restaurant business work – even in tough economic conditions – and believes the intended move to bigger premises is a natural next step for the business.
They have identified an ideal location and have shown the passion and determination it takes to make a business such as theirs work, having clientele return over and over again.