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114%
Raised
£228,970
Investors
287
Target
£200,000
Equity
10.27%
Pre-money valuation
£2,000,000

Backed by Sanja Moll of BBC’s My Million Pound Menu, CombiniCo is a Korean-inspired fast-casual food brand based in Scotland. In just over a year, CombiniCo has established 2 retail locations, 1 satellite outlet, and generated over £500,000 in its first 20 square metre store.

  • National Winner of Scottish Asian Food Awards 2018
  • Over £500,000 revenue in first year of trading
  • Backed by Sanja Moll (Investing Women) and Alexis Fosler 
  • Known locally as one of the fastest growing startups from St Andrews

Idea

CombiniCo was founded by two students at the University of St Andrews, who envisioned a brand that elevated everyday fast-food experiences in university towns across the world. During its first year, the store generated over £500,000 sales and £76,000 profit in a 20 square metre, six-seat store and is known locally as one of the most exciting and fastest-growing companies in St Andrews, with £26k profit overall y/e April 2019.

Its name derives from the East Asian convenience stores, otherwise known as ‘Combini’, whose values centre around simplicity, convenience, and great customer service. CombiniCo’s ready-to-go model entails a quick cashless system and on-site re-stocking method which enables products to be purchased within seconds. Alongside, CombiniCo is able to distribute and sell products through satellite outlets (CombiniStops) in convenient places such as libraries and offices around town.

Key Milestones:

- Current Q1 revenue double last year's Q1 earnings

- Over 70,000 signature BiniBowls sold from 6 sq/m kitchen

- Store earns £2,360 per square foot each year, competing with Burberry (£2,300) the second highest retailer in the UK right after Apple (£3,250)

- National Winner of Scottish Asian Food Awards 2018

CombiniCo is looking to raise £200k on Crowdcube to build a third retail and flagship location in Edinburgh, and to develop a line of organic bottled tea beverages.

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Risk warning

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CombiniCo has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.