Haven Vegetarian Restaurant & Bar
Turnover circa: £146k
Adjusted Net Profit circa: £AOR
BUSINESS SUMMARY
Business Name: Haven Vegetarian Kitchen & Cocktail Bar
Location: 11 Camden Rd., Tunbridge Wells, TN1 2PS
Established: 2017
Type of Business: Cocktail Bar & Restaurant
BUSINESS DESCRIPTION
Haven Kitchen & Cocktail Bar is a popular vegetarian-based restaurant located in the heart of Tumbridge Wells, Kent. Known for its high-quality food and drink, the establishment is a firm favourite among both locals and visitors to the area, with the benefit of being in the town centre along with a parade of local shops.
SERVICE OFFERINGS
Small Plates: A select menu of small plates to be enjoyed tapas style, as starters or to compliment a big plate.
Hot & Cold Drinks: A fully functional liquor bar serving hot and cold drinks.
Big Plates: A select range of favorites, all of which have a vegetarian take on, without compromising taste and range.
Weekend Brunch: A vegetarian take on a traditional breakfast menu.
· Desserts: A range of home-made and locally produced desserts
· Cocktails: The establishment is well known for its fully stocked cocktail bar which offers late opening into the evenings.
MARKET ANALYSIS
The market analysis for vegetarian restaurants in the UK shows a dynamic and growing sector. Here are some key points to consider, which demonstrate the scope of this business opportunity:
Market Size and Growth: The UK meat-free market is approximately £437 million, making it the largest in Europe. The revenue from vegetarian food and drink products and plant-based alternatives reached £1.1 billion in 2022.
Consumer Trends: One in three Brits has stopped or reduced their meat consumption, indicating a shift towards vegetarian and vegan diets. In 2019, 19% of Brits considered going vegan. Sainsbury’s predicts that vegetarians and vegans will make up a quarter of the UK population by 2025.
Demographics: The primary age group for vegans in the UK is 30-39-year-olds (4%), followed by 20-29-year-olds (3%) and 40-49-year-olds (3%).
Vegan Product Sales: Sales of vegan items, including meat substitutes, have seen significant growth. For example, Tesco's vegan meat sales increased by 300% in 2020.
Distribution and Availability: The availability of vegan options has grown, with Deliveroo reporting more than double the number of vegan restaurants on its app in 2021, and 12,000 restaurants offering vegan-friendly options.
These trends suggest a growing market for vegetarian and vegan foods, influenced by factors like health, environmental concerns, and animal welfare, all of which have helped this business establish itself in a niche market, that will only increase over the coming years.
KEY ACHIEVMENTS
Reviews:
4.8 star rating on 'Google Reviews' with over 200 reviews.
4.5 star rating on 'Tripadvisor’ with over 100 reviews.
Loyal Customers: A regular, repeat customer base provides ongoing, consistent revenue.
EXPANSION OPPORTUNITIES
Delivery: Implementing a delivery service to cater to the increasing demand for at-home dining through directly employed staff or food app orders.
Catering: catering services for events, parties, and corporate lunches.
New Menu Items: Introducing more vegan and gluten-free options to cater to a wider audience.
Website Development: The business attracts customers through the website, local reputation, and passing trade, however, there is an opportunity to develop and implement enhancements to the website with table booking and ordering capabilities for click-and-collect and/or deliveries.
PREMESIS
The premises is a large retail unit spread over 4 storeys on an extremely busy residential estate parade of retail shops. The premises is available by way of a lease at £20,000 per annum, offering excellent value with a ground floor restaurant, first floor bar, second floor office space and a huge basement store.
The vendor has made significant improvements to the property over the years and introduced new catering equipment and furnishings which offer a warm and welcoming environment for customers and requires no further investment from an incoming operator who can capitalise on the extensive, high quality fit out to date.
Viewing is essential to appreciate the quality of the business on offer.
FINANCIAL INFORMATION
Detailed financial statements and information is available upon request.
FURTHER INFORMTAION
Further information is available by speaking with the us and viewings are strictly by appointment only.
