The ultimate destination; blending creative food with great bars, communal dining and cultural events.
- 3 gold-dust London venues, with Canary Wharf launching 2022
- £15m in revenue in FY20 revenue, up 77% on the year before.
- We boast a customer 'best in class' retention rate of 80%
- Our Planet first partnership: committed to positive impact
Our mission is to curate good times with flavour, joy and authenticity. Connecting our community in the beautiful spaces we passionately bring to life.
In 2017, Market Halls reformed the way that people chose to socialise, eat, work & play. With 3 venues already well established in Fulham, Victoria and the West End, coupled with a huge pent up demand, we are committed to quickly scaling the business through a finely-tuned expansion plan, fresh new identity, new gold-dust venues and an improved customer offering.
The successful venues which generated £15.2m revenue 12 months to Feb 20 and £1.5m EBITDA from Victoria alone are set to grow with pace and have an appetite bigger than ever before. Food Halls are the fastest growing restaurant category in Europe & going out for coffee, socialising and dining are 3 of the top 5 most missed social outings.
With a hall-full of new talent, partners and a re-energised team, we will take our proven business model and reawaken it with dynamite.
Substantial accomplishments to date
2015 - it all started with an idea. Market Halls was defined and the mission was a go. Andy put the wheels in motion. Here's Andy...
2018 - FULHAM & VICTORIA ARE BORN welcoming millions of customers through the doors. To put it in perspective; 1 million visitors to Victoria in its 1st year vs London Zoo 1.07m in the same year.
2019 - MH OXFORD STREET ARRIVES just off Oxford Street in a prime location, our third venue caused quite a stir of excitement in the West End. The MH success continued with an EXPONENTIAL GROWTH PATTERN - generating £15 MILLION in revenue in FY20, up 77% on the year before.
Net Promoter Score (NPS) of 62. Anything over 50 is considered excellent. Represents the likelihood of customers recommending Market Halls to a friend or colleague. We score well above the national average of 43.
We boast a ‘Best in Class’ retention rate of 80% repeat business. A testament to our mission to create amazing spaces for people to return to regularly and form part of their life routine.
We are the proud nucleus of a unique community of engaged customers with the average spend set to grow now we are returning to some freedom; with 47% of consumers intending to spend more in 2021.
Featured fondly in publications such as The Telegraph, The Guardian and Independent, Market Halls has been quoted as “the high street’s hottest place to eat”
Then- tried, tested and proven. Now- reinforced.
Our revenue channels
FOOD & DRINK
We run the bars in the venues
REVENUE SHARE & INCENTIVES
Revenue sharing with our traders - 25% net sales. Our traders are incentivised and guided in promotion to maximise this.
Licence fees will be charged on floor space to non-food operators such as gym, co-working spaces and other fee generators across all sites
Directly operated activities such as event-hosting will provide a combination of sales & sponsorship revenue. Previous brand takeovers and corporates include Niketown, Lululemon and Haig Club
High value partnerships will be activated enabling dialogue with our gold dust audience
Rapid delivery partnerships utilizing 40+ kitchens
Live ticketed events
Upside from additional bars and stronger breakfast offerings
Use of proceeds
WE'RE ALREADY REOPENING: Following the recent opening of Victoria and Fulham, West End is next to open, ramping up the 3 exisiting venues to and beyond pre covid levels. Whilst we are working hard refurbishing all of the halls for their grand openings including new bar layouts, we are also planning for the next phase which the funds raised by you will help us achieve.
The full venue refurbishments will ensure the customer experience, word of mouth marketing and new customer acquisition is maximised
NEW VENUES: With a new exciting venue already secured in Canary Wharf and ready to open in 2022 (a very welcome propostion and addition to the area) alongside a thoughtful business plan with additional revenue streams, the next stage will be to secure more exciting new venues in gold dust locations, 2 by 2025
NEW INITIATIVES: We will launch new initiatives to unlock additional revenue streams including live events, home delivery, and partnerships; investing in talent to drive us forwards
Market Halls Group Limited owns 100% of the share capital of Try Market Halls Victoria Limited (which operates Market Hall Victoria) and Try Market Halls Limited.
Try Market Halls Limited owns 100% of the share capital of:
- Try Market Halls Oxford St Limited (which operates Market Hall West End)
- Try Market Halls Fulham Broadway Limited (which operates Market Hall Fulham)
- Try Market Halls Canary Wharf Limited (where the agreement to lease for Canary Wharf is held)
- Try Market Bars Limited (non-trading but used to hold the bar revenue of all the venues (exc West End) until Jan 2020
Four of the entities in the group launched CVAs in June 2021 which were successfully accepted and unchallenged by creditors and are expected to conclude in the coming weeks. These entities are Try Market Halls Victoria Limited, Try Market Halls Fulham Broadway Limited, Try Market Halls Oxford Street Ltd and Try Market Halls Ltd.
Please note the business has outstanding debt obligations. Please see the documents section for a summary.
Funds raised as part of this round will not be used to repay outstanding debt.
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