Israeli-inspired brunch spot in Stoke Newington raises £500,000 via Crowdcube
Serving Jewish deli-style lunches such as bagels, pitas, smoked meats and shakshuka - The Good Egg will open a second branch in Soho
A former street food start-up turned restaurant has successfully raised £500,000 via crowdfunding platform Crowdcube – and is now looking to open a second branch.
The Good Egg in Stoke Newington, North-East London, was backed by over 300 investors in exchange for a range of lifetime discounts, giftboxes and even a home-cooked banquet.
Serving Jewish deli and Israeli-inspired brunches such as bagels, pitas, smoked meats and shakshuka, as well as American cocktails and craft beers, the start-up will use its crowdfunded finance to open a second branch in Soho.
Co-founded by Alex Coppard and Joel Braham, The Good Egg began life as a street food pop-up, selling at markets across London.
Talking to the Evening Standard, co-founder Joel Braham said:
“From serving our brunch favourite shakshuka at sell-out markets, pop-ups and residencies all over London, we felt that the capital was crying out for an all-day neighbourhood Montreal-deli-meets-Israeli street-food restaurant.
“Funds raised will be used for pre-opening costs for our second restaurant site in the heart of Soho – this represents the realisation of a dream.”
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By no means the first food pop-up to make the transition from market stall mover into permanent restaurant, last month saw vegan street food start-up SpiceBox make a similar jump.
An 18-month old business founded by serial entrepreneur Grace Regan in her kitchen, Spicebox’s plant-based Indian offering has proved equally popular with Camden consumers as with investors.
Now operating out of a stall at KERB Camden, the start-up raised £450,000 in a funding round led by 2enable Partners – and has plans to open a permanent site as well as offering consumers a take-away and delivery service.
Not a particularly costly business to start or industry to operate within, Miranda Roberts and Stefan Buschbeck started their seafood stall Shrimpy in 2013 for under £1,000.
Blogging for Startups about the experience, the duo stressed the importance of keeping costs low when launching in the take-away sector.
“Live within your means as a business. You’re not a hero by taking on more debt or higher rents than you can afford.”
Want some more advice on starting your own street food business?
- How to start a street food business: Mobile catering is experiencing an explosion in the UK – could this low-cost start-up be for you?
- Taste of success: How we started a street food business: Nisha Patel and Nishma Chauhan talk about leaving their office jobs in favour of selling cheese toasties
- Why we took the plunge by starting a street food business: Nick and Nadia Stokes of Gourmet Goat talk about their Borough Market food stall – that sells goat meat