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194%
Raised
£1,457,110
Investors
719
Target
£750,000
Equity
13.78%
Pre-money valuation
£9,118,421

HOP is an exciting, quick service Vietnamese fresh food concept showcasing a passion for Vietnam’s colourful food, culture and street atmosphere. With 5 sites in London, sales of c.£3.8m in 2018 and serving an average of 12k customers per week, HOP is raising funds to expand the brand across London.

  • Get involved in an award-winning, scaleable grab & go brand
  • Agreement with Vita Mojo to launch digital screen ordering technology
  • Almost £4m of equity capital raised to date from HNWIs
  • Exclusive rewards for Crowdcube investors
Information £250k of the company's lead investment reflected may be spent while the campaign is live.

Idea

HOP is an exciting, quick service Vietnamese fresh food concept with 5 multi-format sites across the city of London ranging from 700sqft “mini-HOPs” to a 3,000sqft “HOP Café”. Our flagship unit is based at the bottom of the Leadenhall Building (aka The Cheesegrater), we operate in all 3-day parts and have also established a strong delivery business catering for home/office/corporate orders.

The Food To Go (FTG) market has experienced strong growth in recent years and now accounts for c.24% of the total Eating Out Market. This growth is expected to continue and by 2022, the FTG market is set to reach a value of £23.3bn. There is a gap in the FTG market for a scalable, everyday Vietnamese chain and we intend to fill that gap.

With FY 18/19 revenue at £3.8m (EBITDA -£0.7m), we have enjoyed a stable sales pattern on a daily, weekly and monthly basis which is also relatively unaffected by seasonality. We've strengthened the team this year, bringing in industry veteran Josh Wyse as co-MD and are in negotiations with one of the leading concessions operators about opening a number of HOPs in transport hubs across the UK. We're are also in early-stage discussions with a “dark kitchens” operator to expand our delivery capabilities.

We're raising investment to fund the roll-out of the HOP concept across London.

EIS eligible.

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

HOP Vietnamese 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.