Bussiness
Nine Pret A Manger franchise stores to open in Scotland
Joup Group has received a seven-figure funding package from HSBC UK to acquire three existing – and open six new – Pret a Manger franchise stores across Scotland.
The Glasgow-based group, which already owns six Dominos franchises across Dundee and Angus, will use the funding to open the Pret a Manger sites, with the biggest spanning more than 4,000 square foot.
They are expected to be open between June and September this year.
The new openings are expected to create around 150 jobs, with roles including full-time supervisors and part-time baristas.
The funding, and consequent new store openings, is predicted to increase Joup’s turnover by 100%.
Henry Dawes, chief executive of Joup Group, said: “We are really excited to continue to grow our business by becoming the Pret a Manger franchisee in Scotland.”
Kevin McKenna, relationship director at HSBC, said: “We are pleased to have supported Joup Group’s ambitions for 14 years now.
“This funding package is particularly satisfying given the creation of more than 150 jobs, which will provide an economic boost to communities across Scotland.”
Separately, Pizza Pilgrims has revealed plans to plans to open debut sites in Wales and Scotland – in Cardiff during August and Edinburgh by December.
A trading update explained that the new site expansion is almost entirely self-funded from free cash flow, with each new site creating between 15 and 25 jobs.
The authentic Neapolitan pizzeria reported revenue up by 37% to a record £28.7m, while pre-tax profit more than doubled to £700,000 the year ended 25 June 2023.
As at the end of June last year, the company had 20 sites trading, with more than 480 employees, serving between 40,000 to 50,000 pizzas per week.
Thom Elliot, co-founder of Pizza Pilgrims, commented: “We have always strived to grow at the right pace, and we remain focused on building a sustainable business for the long-term which will continue to delight customers and support our teams for decades to come.
“This year will see four new openings, including our inaugural pizzerias in Scotland and Wales – as we continue to demonstrate that sustainable growth remains an output of running a great business, rather than our sole focus.”
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