Niche was London’s first 100% gluten-free restaurant to be accredited by Coeliac UK and, since becoming entirely gluten-free in 2015, has doubled its trade and is now constrained by its seating capacity. Now seeking funds to open a second restaurant in Central London with 90-100 covers.
Niche was London’s first 100% gluten-free restaurant to be accredited by Coeliac UK and, since becoming entirely gluten-free in 2015, has doubled its trade, which we have sustained in a casual dining market where many others are struggling.
Revenue has increased from £209k in the first year of trading (2013), to £496k in the first full year of trading as gluten-free with EBITDA at 2.3% (£11k).
Niche has built a loyal following, enjoying positive press in ES Magazine, The Independent, The Londonist and Metro with high ratings on customer review sites (Tripadvisor #770 of 18,559 in London, 4.5 star review rating based on 580 reviews) and social media (Facebook 4.8 star review rating, 4600 followers, average 60k reach each month/ Twitter 2500 followers, 415k impressions in last 3 months).
Coeliac disease affects an estimated 1 in 100 people in Europe, although only c.24% of people with the condition are currently diagnosed [Coeliac UK]. Mintel forecast further market growth to £673 million by 2020.
We are seeking £500,000 to open our next restaurant, with around 100 covers, a good sized bar and lots of outside seating and ability to take on the delivery market. We are evolving our look to make it more comfortable for our diners, to enhance the experience and bring new exciting dishes that, due to our current size, we were previously not able to prepare.
Disclosure: loans exist.