FLIPPING GOOD PUBS LTD
Having secured £150,000 from leading pub operator Punch Taverns, award-winning company Flipping Good Pubs Ltd requires investment for its next pub.
The award-winning management team behind Flipping Good Pubs Ltd understands what it takes to flip the fortunes of a pub. In 2013 the company took a fledgling £500-a-week pub, the Old Volunteer, and in 12 months turned it into a £9,000-a-week business.
That’s partly why owners Maggie and Andrew Dunkin picked up Best Newcomer in the 2015 Great British Pub Awards. It’s also why the UK’s leading bar and pub operator Punch Taverns has backed the business to the tune of £150,000 to open a second pub, the Lord Roberts.
In addition to the £150,000 already committed, the business is seeking a supplementary £20,000 loan over 36 months. The funds will be used to invest in the bar and cellar and to ensure the investment from Punch Taverns.
Because they’ve been operating for less than two years the business isn’t eligible for a bank loan and therefore owners Maggie and Andrew Dunkin are inviting investors to help fund their latest venture.
The new pub is located near the trendy Lace Market district in Nottingham city centre – in what is considered to be a prime location.
The UK is seeing somewhat of a renaissance in craft ale drinking – fuelled by the proliferation of small specialist brewing companies, with up to 200 breweries opening in the UK each year.
Flipping Good Pubs aims to tap into the re-energised market by making its new pub a real ale specialist while at the same time creating an attractive venue and eatery that uses local produce, which is suited to all types of customers from office workers to evening socialisers.
Purpose of Loan
The business is looking to build on the success of its first pub with the opening of a new one. They’ll use the knowledge they’ve gained from taking the Old Volunteer into such a remarkable, award-winning position in just 18 months.
With the £20,000, the business will shore up the £150,000 already committed by Punch Taverns, offering investors the opportunity to be part of a wider financing package. The funds will be used to commence the tenancy at the new pub as they’ll have to invest in the bar and cellar.
The business has been working in the brewing industry for the last five years, with the last 18 months of that valuable experience spent at the Old Volunteer.
Flipping Good Pubs Ltd was nominated for the Great British Pub awards and won Best Newcomer 2015, beating hundreds of other entrants to the award. The owners have experienced managers in both the Old Volunteer and the Lord Roberts, both of whom have several years of management experience behind them in a real ale background.
Why lend to us?
The business is a dynamic pub, focusing on real ale and local produce. It will provide a welcoming and safe environment for all customers and a slightly up market experience.
The business has always planned to build an estate of five pubs within the first five years, at which point the business will review the plan. So far the business has been very successful and expects continued success in other venues.