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98%
Raised
£197,690
Investors
369
Target
£200,000
Equity
6.78%
Pre-money valuation
£2,750,000

The Cheese Truck Ltd is the parent company of The Cheese Truck and The Cheese Bar. Following on from their 2016 Crowdcube raise, which smashed its target in less than 72 hours, the business is back to raise funds to open a second site: The Cheese Bar - Covent Garden.

  • 90,000 customers served since opening The Cheese Bar - Camden
  • Over 56,000 social media followers
  • "One of the best restaurant openings of 2017" - Timeout London
  • Covent Garden restaurant planned to open Winter 2018

Idea

Founded in 2014, The Cheese Truck is a leading street food brand, which also owns and operates The Cheese Bar. The business aims to champion the best British cheese, with a focus on comfort food cooking in a modern & accessible way.

"This Cheese Truck could be the best street food truck ever” - Metro

Recognised as street-food maestros & an iconic UK street food brand,known for it's yellow Bedford trucks & irresistible grilled cheese sandwiches.

The Cheese Bar is a modern casual dining restaurant showcasing British Cheese with a menu entirely cheese focused. It heroes small producers and predominately natural wines.

Opening in Camden Market in March 2017, it gained widespread social media coverage totaling over 50 million video views since opening. It has since gone on to be praised for it's interior and food offering.

Since opening, The Cheese Bar Camden site has served over 90,000 customers from just 50 seats. We had 17/18 sales of £996k (EBITDA of -£87k) with £826k (site profit of £34k) coming from our Camden site alone. Year two has seen a 20% increase on YOY sales (Q1 2017 (£232k) - Q1 2018 (£282k)).

We are now raising funds to aid expansion plans to open a further site in Covent Garden this winter, with the aim to launch four more before 2021.

“At the heart of the Cheese Bar is…a passion for good products. Everything is as local as it can be, & all from the UK” - Evening Standard

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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.

The Cheese Bar & Truck 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.