Seeking to expand its frozen yogurt business, UK-based company Samba Swirl launched anequity crowdfunding campaign on Crowdcube to raise £285,000.
Samba Swirl, a trading name of Obal Solutions, Ltd., reportedly opened the first ever self-serve frozen yogurt shop in the UK in 2010. With much excitement, fun customer experience, and over 50 flavors/topping, the company has grown and has 4 stores, making it the largest self-serve frozen yogurt chain in the UK.
The team revealed that Samba Swirls frozen yogurt is fat free, 100% natural, gluten free, probiotic, vegetarian, Halal, Kosher, high in calcium and protein. The frozen yogurt also has 1/3 less sugar and fewer calories than equivalent ice cream.
Also sharing more details about the company, the Samba Swirl team stated, “Our core sale items are diverse: Frozen Yogurt, Fresh Juices, Sweet and Savoury Crepes, Smoothies, Shakes and Acai bowls. We produce our own frozen yogurt for use in all current and future Samba Swirl stores worldwide.”
The team explained Samba Swirls is seeking to raise a minimum of 285,000 in growth funding in exchange for 7.3% equity in the company, inclusive to all their company owned stores. The funds will also be used to complete the roll out of at least two of the standard mall kiosks and complete the international franchise development.
They added, “Based on our growth and profitability forecasts we expect a 3.3x return of investment for investors exiting in [fourth quarter] 2015 and 8.7x if we exit in [first quarter] of 2018.”
In regards to the company’s plan, the team shared, “Our business is quickly growing within the domestic market, with continual enquiries from overseas for franchising. We are currently serving over 140,000 customers annually. Samba Swirl’s social media presence has in excess of 35,000 fans or followers, one of the highest of any UK frozen yogurt company, which is testament to our popularity and growth potential.”
“In year one the company turned over £353,848, in year two revenue rose to £459,077 and £625,851 for year 3. With the new Camden store and additional two sites planned, we expect revenue to top £1m for the next financial year.”
Since its launch, Samba Swirls’ crowdfunding campaign has raised £37,990. It is set to close on November 9th.