Crowdfunding isn’t new to the drinks world, but has so far been most used by those on the production side of the industry. Now Grind is calling on its fans to become investors, and help grow the coffee shop and cocktail bar group.
The Grind Bond aims to raise £750,000 (almost a third of which was already raised at the time of writing), offering a fixed cash interest rate of 8% pa. The cash will go towards expanding the group, which is already gaining a fifth site this summer in Covent Garden. There are also plans to build a roastery, bringing production of the house blend coffee in-house.
Of course, there are coffee-related perks for investors during the four years of the bond. Put in more than £5,000 and you’ll get two free coffees or cocktails a month. Going over £10,000 gets you the same, but every week. For a free coffee or cocktail every day, you’ll need to invest £25,000.
Grind’s original site is on Old Street roundabout, serving both coffee and cocktails, and complete with a recording studio upstairs. The group was established by Melbourne born DJ and musician Kaz James and entrepreneur David Abrahamovitch in 2011. The group now consists of four sites, soon to be five. They expect £4.4m in sales across the group this year.
Interested? Visit the Grind Bond site.