Story of the Day - 4 October 2024
Sir Tim Martin – my ambition is to double JD Wetherspoon revenue to £4bn in ten years
JD Wetherspoon chairman Sir Tim Martin has told Propel he is aiming for the company to double its sales to £4bn in the next ten years after passing the £2bn mark for the first time. Sir Tim said he believes the business can hit that target with the help of franchising the brand – including on the UK high street and abroad – and believes a Wetherspoon franchise could double the revenue of an existing independent operator.
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4 October 2024
Exclusive – Wendy’s UK turnover passes £30m
Wendy’s UK, the British arm of the third-largest quick service restaurant chain in the US, saw its turnover pass £30m in the year to 31 December 2023. Its revenue grew from £21,266,567 in 2022 to £31,916,991. The company maintained the same amount (12) of company-owned restaurants during the period (compared to six at the start of 2022) and its franchised estate grew from 17 to 24. Of the 2023 turnover, £19,582,543 came from restaurant sales (2022: £9,580,210) while £11,418,726 came from management fees for UK restaurants (2022: £9,508,210).
4 October 2024
We Do Play co-founder – Flip Out thriving, new concept Activate will be UK 'game changer', experiential sector ripe for consolidation
Richard Beese, the co-founder of multi-concept experiential leisure operator We Do Play, has revealed a pipeline of openings both in the UK and internationally for its adventure play brand Flip Out. In a wide-ranging interview exclusively for Propel’s Premium Club members today (Friday, 4 October), he also discusses the company’s plans for rolling out fast-growing Canadian active play concept Activate in the UK and when it will debut here.
4 October 2024
Exclusive – Lisa Buckley steps down as CEO of Ninja Warrior operator Leisure TV Rights
Lisa Buckley has stepped down as chief executive of Ninja Warrior operator Leisure TV Rights (LTR) after two and a half years in the role, Propel has learned. Buckley, the former Wagamama UK operations director and Côte Brasserie managing director, who was appointed LTR’s chief executive in February 2022, has stepped down to “pursue new opportunities”.
4 October 2024
JD Wetherspoon revenue passes £2bn for first time, current lfl sales up 4.9%
JD Wetherspoon’s revenue passed £2bn for first time in the year to 28 July 2024. The company’s turnover for the year was up 5.7% from £1,925.0m to £2,035.5m, while like-for-like (lfl) sales were up 7.6%. Its pre-tax profit before separately disclosed items rose 73.5% from £46.2m in 2023 to £79.3m, while operating profit was up 30.2% from £107.1m to £139.5m.
4 October 2024
UK hospitality sales 25.7% lower due to heavy rain and down 8.2% due to extreme heat on like-for-like days between 2022 and 2023
UK hospitality sales were 25.7% lower due to heavy rain and down 8.2% due to extreme heat on like-for-like days between 2022 and 2023, according to new data from CGA. The study, commissioned by the Zero Carbon Forum to show the effects of extreme weather on hospitality sales, showed that on 18 February 2022, Storm Eunice hit the UK and sales were 25.7% lower than on the same day in 2023.
4 October 2024
Boparan Restaurant Group – sales and Ebitda 'continuing to grow strongly during first three quarters of 2024', 24-month development pipeline for Slim Chickens in UK
Boparan Restaurant Group – the owner of the Gourmet Burger Kitchen, Carluccio’s and Giraffe brands – has told Propel that sales and Ebitda have “continued to grow strongly during the first three quarters of 2024”. BRG also revealed it also has a 24-month development pipeline for Slim Chickens in the UK.
4 October 2024
KFC, Costa and Pizza Hut franchisee profit grows by nearly £2m as turnover reaches almost £94m
Middlesex-based KFC, Costa and Pizza Hut franchisee SME Group saw its profit grow by nearly £2m in the year to 31 March 2024 as its turnover reached almost £94m. The group, which operates more than 120 restaurants, gyms and hotels and employs more than 2,000 people, saw a pre-tax profit of £496,692 in 2023 turn into a profit of £2,338,308.
4 October 2024
Stonegate unveils new Social Pub & Kitchen brand following £5m investment
Stonegate Group, the UK’s largest pub company, has unveiled its new Social Pub & Kitchen brand following a circa £5m investment. Although Social Pub & Kitchen has been a part of the managed Stonegate portfolio since 2022, the brand is being introduced to consumers for the first time, with newly transformed pubs and refreshed branding.
October 2024 ~ Premium Club
Each year, Premium Club members receive videos from Propel conferences, totalling around 100. The latest videos are from the Propel Talent & Training conference. This collection features Kathryn York, chief people officer at KFC UK and Ireland, who talks through the success of the brands “The Hatch” youth employment programme, which looks to help young people into their first job, and its “The Kentucky Club”, which hosts jobs-based pop-up events around the country for young people. Propel’s conference videos are an excellent way to keep your team informed about the latest developments in the sector.
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
October 2024 ~ Premium Club
Premium Club members will receive two updated databases in October. The latest Propel UK Food & Beverage Franchisor Database will be sent out on Wednesday, 9 October, at midday. It will have 12 new entries, including better burger brands Smacks Hamburgers and Urban Fresh Burgers and Fries, It now has 270 entries and more than 150,000 words of content. The next Propel New Openings Database will be sent out on Friday 11 October. The database will show the details of 216 site openings. Premium Club members will also receive a 11,941-word report on the new additions to the database.
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
October 2024 ~ Premium Club
Premium Club Opinion provides weekly insights from industry leaders. In the current edition, Richard Beese, co-founder of We Do Play, shares insights on Flip Out’s success, the potential of the new Activate concept as a ‘game changer’ for the UK, and why the experiential sector is primed for consolidation. Meanwhile, Propel group editor Mark Wingett explores the acquisition of a majority stake in Chopstix by European operator QSRP, and UKHospitality chief executive Kate Nicholls explains how it has been using the political party season to lobby for support for the sector.
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
October 2024 ~ Premium Club
Mark Wingett’s Premium Club Diary delivers insider sector gossip every week to Premium Club members. The current edition includes news on Stonegate’s developing brands and the company’s connection to synth rock band The Cure, what happened to Côte’s unbranded concept trial, how Ballie Ballerson, the ball pit cocktail bar operator, fared this year and what is the next fast casual US brand to launch on these shores.
By joining Propel Premium Club members get access to essential insight through Propel Opinion pieces from leading industry commentators, plus our industry-leading databases, receive hospitality’s foremost newsletter first, watch vital video content and get event discounts.
4 October 2024
One of Domino's biggest UK franchisees makes almost £1m from disposing of several subsidiaries, turnover drops by more than £40m
One of Domino’s biggest UK franchisees, Bansols Beta, made almost £1m from disposing of several of its subsidiaries in the year to 31 December 2023 and saw its turnover drop by more than £40m.
4 October 2024
Neighbourhood private members' club concept planning four more sites in next five years as it reports trading and membership numbers well ahead of expectations
The Dally, a new neighbourhood private members’ club concept, has reported trading and membership numbers well ahead of expectations for the six months to 30 September 2024. The Dally launched its debut site, in London’s Islington, this spring, which it plans to follow with four more sites over the next five years.
4 October 2024
MFA Group restructures operations as it acquires pub from M&B, set to expand Triple Two coffee business
MFA Group, which is behind MFA Bowl and acquired the Triple Two coffee business out of administration earlier this year, has restructured its operations to create three divisions to support its growth, Propel has learned. The new divisions are family entertainment including ten pin bowling, coffee shops and pubs and bars.
3 October 2024
SSP UK sales increased by 12% in Q4 driven by high demand in air sector and lower level of disruption in rail
SSP Group, the operator of food and beverage outlets in travel locations worldwide, has reported its UK sales increased by 12% in the fourth quarter, driven by high demand in the air sector and a lower level of disruption in the rail sector. In the period 1 July to 30 September 2024, the group, which operates in travel locations across 37 countries, said its UK sales were up 12% in total and 9% on a like-for-like basis.
3 October 2024
Inception Group FY turnover up 16.7%, international expansion on the horizon for Mr Fogg's
Inception Group, the London hospitality group, has said international expansion is on the horizon for its Mr Fogg’s brand. It comes as the company reported a 16.7% increase in turnover to £26.5m for 2023, while forecasts for 2024 suggest a record-breaking year with projected revenues of £29m.
3 October 2024
Shepherd Neame CEO – 'business has never been in better shape but roadblocks keep being put in the way when it comes to growth'
Jonathan Neame, chief executive of brewer and retailer Shepherd Neame, has told Propel the “business has never been in better shape” but “roadblocks keep being put in the way when it comes to growth”. Speaking following the company’s full-year results, where the group reported record revenue of £172.3m, Neame also said he believes it will be the end of 2025 or the start of 2026 before “we see real consumer growth”.
3 October 2024
Blank Street Coffee founder – UK market is a driving force of our overall growth strategy
Issam Freiha, the co-founder of US coffee brand Blank Street Coffee, has said the UK market is a driving force of the company’s overall growth strategy, as it closes in on the 40-site mark here. Freiha founded the business in New York in 2020 with Vinay Menda.
3 October 2024
UK bubble tea brand Cupp aiming for 50 stores by end of 2025 and international debut next year
UK bubble tea brand Cupp is aiming for 50 stores by the end of 2025 and an international debut next year. Founded by Lee Peacock in Bristol in 2012, the franchise business currently operates 35 stores, and Propel understands its next two openings will both be in Edinburgh.
3 October 2024
Marugame Udon reports UK revenue up 95% driven by three new restaurants and performance of existing sites, 'strong potential' for brand here'
Marugame Udon, the international udon noodles and tempura restaurant brand, has reports its UK revenue was up 95% in 2023, driven by the opening of three new restaurants and the performance of its existing sites.
3 October 2024
Harts Group reports 58.3% increase in turnover, Barrafina Borough Yards trading well
Harts Group – the London restaurant company that owns Barrafina, Quo Vadis, Casa Pastor and Parrillan – has reported a 58.3% increase in turnover for the year to 31 July 2023 and said its new Barrafina Borough Yards site is trading well. The group’s turnover grew from £14,987,128 in 2022 to £23,727,311.
3 October 2024
Five Points Brewing Company co-founder looking to open more pubs in London and Leeds following food hall launch
Five Points Brewing Company co-founder Ed Mason has told Propel he is looking to open more pubs in London and Leeds following the launch of his first food hall venture. Mason last month opened a new food and drink hall in Leeds’ White Cloth Hall – encompassing four independent food traders as well as a wine bar and coffee shop/pizzeria.
3 October 2024
NQ64 – current trading in line with expectations, secures further £500,000 of funding
Andy Haygarth, co-founder of NQ64, the immersive retro arcade bar concept, has told Propel that the company’s current trading is “in line with expectations” and it expects to open two or three sites next year. NQ64, which was founded by Haygarth and Matt Robson, currently operates 13 sites, after opening in Leeds this summer, in the former Manahatta site in Merrion Street.
Highlights from this year’s Propel summer conference and party.
Video presentations of all the speakers released on Friday 27th September to Premium members.
To view pictures from the event click here
Propel Exclusive Report
Experiential Leisure report – free for Premium Club members
Experiential leisure’s rapid growth is demonstrated by a 40% uptick in UK competitive socialising venues since 2018. Our 35,000 word report on this fast-growing sector is now free for Premium Cub members and it explores the latest research, examines its market potential and includes a detailed analysis on more than 180 companies operating in excess of 3,000 sites.
The report sets out the history and current meaning of experiential leisure and examines the latest research – including key geographical areas for expansion in the UK. It also explores the current market and provides insight into future trends such as outlets that offer a combination of concepts. It provides a detailed list of UK Experiential Leisure companies including key staff, Companies House information and number of sites.
By joining Propel Premium Club members get access to our industry-leading databases, receive hospitality’s foremost newsletter first and vital video content. Get event discounts and essential insight through Propel Opinion pieces from leading industry commentators, plus much more.
Promotional Content
9 September 2024
Meet Eman and Bisan Bites: Bringing Palestinian Flavours to London's Streets
In 2022, Eman embarked on a journey to bring the authentic taste of Palestinian cuisine to the street food scene of London. Seeking guidance from the Streets Ahead programme, she transformed her passion into a reality, creating Bisan Bites a business that celebrates her heritage.
17 July 2024
Taste Uzbekistan: The Street Food Duo sharing the traditions and flavours of Central Asia
In 2022, Akbar and Sanobar joined the Streets Ahead program with a clear vision: to become the ultimate destination for food enthusiasts seeking an authentic and immersive experience.
20 June 2024
UTOPIA: The Syrian Street Food Concept making London taste better
Hind Danoun is one of the many successful refugee entrepreneurs to come out of the McCain Streets Ahead Programme. From joining the programme in 2022 to turning over £21,000 in revenue since launching late 2023.
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November 9th 2024
The Propel Naples
Study Tour
The world’s best cities for food in 2024 have been named by Time Out and it’s Naples – the birthplace of Pizza that takes the crown. You can’t talk about food in Italy without considering Naples and you can’t talk about food in Naples without talking Pizza and that is the reason we are inspired to visit the best of what Naples has to offer.
October 30th 2024
Propel Multi Club:
New Ideas,
New Directions
The final Propel Multi-Club Conference of 2024 has opened for bookings. The full-day conference – titled “new directions, new ideas” – takes place on Wednesday, 30 October at the Millennium Gloucester Hotel in London Kensington. Among the speakers will be Ben Fogle, the TV personality who has summited Everest, raced to the South Pole and rowed the Atlantic.