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116%
Raised
£873,380
Investors
414
Target
£750,000
Equity
8.03%
Pre-money valuation
£10,000,000

Trading since 2009, Sourced Market is a hybrid deli/retail/dining brand with 4 London locations, including the St Pancras flagship venue, positioned to benefit from growing consumer demand for healthy, sustainably sourced produce. Backed by Pembroke VCT with £6.4m net revenue last year.

  • Over 11,000 customers per week (avg) served at flagship St Pancras store
  • Previously raised £1m of investment through a Crowdcube bond in 2016
  • Partnered with hotel group, pop-up with Eurostar, in talks re: airport
  • Generated £6.4m in net revenue in 2017/18

Idea

Sourced Market has a hybrid artisan deli and dining offer of specialty retail, artisan coffee, bakery, food-to-go and craft beer/wine. We operate flexibly in a variety of site formats from 80-500m2, incl. pop-ups.

Since launch in 2007 as a music festival pop-up, the company has attracted capital investment from Pembroke VCT and a successful £1m Crowdcube mini-bond and now has:

- Four prime London locations

- A central production kitchen

- £6.4m turnover to y/e April 2018, (-£888k EBITDA)

Food retail analyst IGD ranks the company as "unmissable" alongside Borough Market and Selfridges. London Evening Standard lauds it as “one of London’s best superstores for food and drink”.

Passionate about quality, the company is building on eight years of success and relationships with 100+ suppliers; a number of whom choose Sourced Market to launch new products.

The food-to-go and coffee markets in the UK are flourishing, with expected values of £23.5bn by 2022 (35% increase from 2017) and £4.3bn by 2021 (29% increase from 2017) respectively. Consumer demand for sustainable, ethical and local food outlets is also rising.

Investment will support plans for a potential fifth site in Eurostar Departures Lounge, a sixth site in Holborn with our hotel partner, development of an airport model, working with a franchise partner, increased kitchen production capacity, and key hires.

Disclosure: loans exist.

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Risk warning

Investing in start-ups and early stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution, and it should be done only as part of a diversified portfolio. Crowdcube is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. You will only be able to invest via Crowdcube once you are registered as sufficiently sophisticated. Please click here to read the full Risk Warning.

Crowdcube is authorised and regulated by the Financial Conduct Authority (FCA) and the Comisión Nacional del Mercado de Valores (CNMV). This page has been approved by Crowdcube. Pitches for investment are not offers to the public and investments can only be made by members of crowdcube.com on the basis of information provided in the pitches by the companies concerned. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions.

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.

Sourced Market has submitted their plans to raise money, details of their structure and trade etc. to HMRC and is awaiting advice on whether the share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax reliefs.

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.