Restaurant Voted ‘Britain’s Favourite Chinese’ Secures Investment with Angels Den in a Bid to Expand across the UK
Chop Chop Restaurants, which appeared on the Channel 4 series ‘Gordon Ramsey’s F-Word’ and was voted Britain’s Favourite Chinese restaurant in both 2010 and 2012, has teamed up with crowdfunding platform Angels Den in order to raise capital for development of its winning concept across the UK in a national roll-out.
Whilst one might not think that a Chinese restaurant in Edinburgh would be a likely candidate for a crowdfunding campaign, Chop Chop restaurants have shown that it’s possible.
Lois Cook, co-founder of Angels Den said “Donation/reward crowdfunding for serious business is the new market research. It enables companies to check that their product or service is something their customers actually want, before incurring set up costs. Chop Chop now have a group of loyal customers ready to use the restaurants as soon as they are open and it takes a lot of the guesswork out of business expansion.”
Since opening the first of two Chop Chop Restaurants in Edinburgh back in 2006, the owners have witnessed the business grow from strength to strength; as they serve their loyal customer-base of 20,000+ quality dishes from Northeastern Chinese cuisine. With two AA rossettes accredited to each restaurant, winning the title of ‘Britain’s Favourite Chinese Restaurant’ in both 2010 and 2012, and an appearance on Gordon Ramsey’s F-Word under its belt, Chop Chop Restaurants has already positioned itself as an industry leader in the restaurant business.
Roy King, the co-owner of Chop Chop Restaurants said:
“It is no surprise that there has been an enormous rise in the popularity of ethnic food, especially Asian, in recent years. As highlighted in films, television programmes and popular culture in general, there has been a rise in the public’s demand for more exotic food, not to mention the rising trend of dining out more frequently than in previous years.
“The appetite for inexpensive, interesting dining experiences continues to grow. Numerous small chains of ethnic restaurants and noodle bars, including Thai, Vietnamese and Pan Asian, have been established over the past five years to meet the rising demand. So far, however, there has not been a recognisable chain of Chinese restaurants. Chop Chop offers a very distinctive, inexpensive dining experience, and we aspire to become a well-known brand across the UK.”
Bill Morrow, Co-Founder and Director of Angels Den, said:
“We worked very closely with the team at Chop Chop Restaurants and in their quest to get the funding needed to become a national chain. With an anchor investor on board, they were able to offer their customers the choice of vouchers or shares in one pitch and gained a mix of funding from their own crowd and our experienced angel investors. It’s brilliant to see a Chinese restaurant leading the way on crowdfunding in Scotland and the UK!”