The team behind Dub Jam, the gourmet Caribbean beach shack in London’s West End, are searching for crowd-funding investment to support expansion.
Working with crowdfunding platform Crowdcube, they are seeking to raise £450,000 by April this year to help the business roll out to a further eight units across the UK over the next three years.
The first Dub Jam was launched a year ago by Dan Einzig, founder of hospitality design agency Mystery, in a joint venture with the owners of London’s Adventure Bar group.
It operates on the ground-level above Adventure Bar in Covent Garden, offering gourmet Caribbean food alongside a rum bar and “reggae-infused” cocktails.
Dan developed the concept after noticing a gap in the “fast casual” dining market for a Caribbean experience, supported by thorough research with spirits company Pernod Ricard UK.
Already projecting a sales turnover of £360,000 in 2015, Dub Jam is predicting a 30% increase in like-for-like sales and a 300% upturn in total sales including new units for the next 12 months. They hope to grow the brand and business to a turnover of over £5million.
With a footfall of 12,500 within the first nine months of trading, Dub Jam already has a loyal following and rates highly on many review sites including TripAdvisor.
Dub Jam is also looking to break into the US market and pilot its concept in Los Angeles, with the opportunity for franchises for experienced international operators.
Expansion will focus on high-footfall areas shared with other high-profile retail outlets, restaurants and bars.
Rather than defining its market by socio-demographics, Dub Jam is based on “the emotive needs and desires” of its customer base. It benefits from the growth in rum which is the fastest-growing spirit in the UK among people aged 18 to 30.
Other businesses working with Crowdcube include Camden Town Brewery which is raising £1.5million for an additional brewery site in London.