revenueshareRevenue
Capital at risk
36
Est. Months
15.0%
apr
Director
guaranteed
Capital at risk
Director guaranteed
Amount
£
You make
£
Minimum investment is £100
Total return
£
Est. Monthly repayments
£

‘Scallop's Tale' is a gourmet-style takeaway restaurant, bringing a variety of quality food to the upmarket town of Bearsden, Scotland. The money raised will go towards opening up the takeaway restaurant and installing a commercial kitchen. Dr. Qureshi is the founder of Quvent, a successful cosmetic surgery, and he also owns a successful restaurant called Erina’s Kitchen. This new venture will form part of the Quvent group of companies.

Reinventing your takeaway experience to bring you the finer foods at an affordable price.

Alongside running a cosmetic surgery that has continued to trade throughout COVID-19, my wife and I are also running a £2m revenue per year restaurant based in Silverburn, Scotland, called Erina’s Kitchen. Having noticed a lack of good quality takeaway restaurants in our local area, and a significant growth in the takeaway industry, opening up our next venture ‘Scallop's Tale' couldn’t have been done at a more perfect time. We believe our experience of running Erina's Kitchen allows us to build a new profitable business in the upmarket village of Bearsden.

Our trusted head chef of Erina's Kitchen will be overseeing the project and we will be personally sending out our chefs to train our new staff as we want to continue our legacy of producing quality food.

‘Scallop's Tale', will not only offer customers much better quality food, but also at an affordable price, and all prepared onsite at our brand new commercial kitchen. In addition to fish and chips, we will be offering a variety of foods including chicken, burgers, and pizza. We will also be leveraging the popular services of Deliveroo and Just Eat, in order to reach a much wider audience.

This is an exciting new journey for us and we hope that you can be a part of it. The funds raised will be used to open up ‘Scallop's Tale' in Bearsden - creating a restaurant and commercial kitchen.

Based on our business plan, we believe that we can generate £720k after the first year, resulting in £196k in profit.

According to Prime Location (2006) Bearsden is a wealthy town north of Glasgow, ranked as the 7th wealthiest area in the UK. It is only around 6 miles from the city, and therefore is popular with high-flying business people looking to settle their families within a reasonable distance from the office.
https://www.primelocation.com/for-sale/property/bearsden/

COVID-19 Resilience:
This venture is COVID resilient as it is based around takeaway food industry which has grown and continues to grow. The Quvent group business still provides cosmetic surgery for the NHS during COVID and has demonstrated affordability to repay the loan.

https://www.standard.co.uk/business/just-eat-takeaway-deliveroo-uber-eats-covid19-coronavirus-lockdown-tier-a4570071.html

Credit Risk Comments:
Two business directors are providing a personal guarantee, this means that if the business fails the directors become personally liable for the loan. They are homeowners, however, this does not mean there are assets to cover the loan in the event the business fails. There have been no CCJs for the business or director. There will be two cross-company guarantees with Qureshi Group Ltd and Dr. Q Ltd which are both well established. A summary business plan has been provided evidencing market demand for this venture.

X

Business keeps the raised amount even if target is not met.
Revenueshare - product type
Maximum
£ 100k
Raised
£ 100k
Investors
178
Est close date
Funded 1 month ago in 22 days

Where will the funds go?

Set-up of Takeaway Restaurant
£100,000

Key people

Usman Qureshi
Director
Shafea Qureshi
Director

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Business brand

Glasgow, UK

"Reinventing your takeaway experience to bring you the finer foods at an affordable price."

Incorporated
13 years, 1 months

Risk warning

Past performance and forecasts are not reliable indicators of future results. Your capital invested is not covered for compensation in the event of a loss by the FSCS. Tax treatment will depend on the individual circumstances and may be subject to change. Please see our Risk section before making an investment decision.