Having started trading from a mobile cart, artisan coffee business Grindsmith has now opened its third premises in Greater Manchester, thanks to a £65k loan from Business Finance Solutions (BFS) www.business-finance-solutions.org.uk who delivery a range of innovative business finance options on behalf of the Greater Manchester Combined Authority.
Grindsmith http://www.grindsmith.com currently operates a coffee shop on Deansgate and a pod in Greengate Square and have used the £65k loan to open their third outlet in MediaCityUK. This site is their first hybrid operation, changing from a coffee house during the day to a bar serving a selection of wines, beers and meals during the evening. The new site, which will create 11 new full time jobs, marks the latest stage of the company’s UK expansion plans.
Initially launched as a coffee cart in 2013, Grindsmith received a BFS Start Up Loan to invest in a permanent setting, based in a small unique eco-pod on Greengate Square, Manchester. They then opened their second unit on Deansgate, located within Rise Manchester and the third premises is situated on the main route from the car park to the BBC building within the MediaCityUK complex.
Grindsmith is run by Directors Luke Tomlinson and Peter Gibson and now employs 25 people. Peter said: “Business Finance Solutions has played a key role in the evolution and growth of Grindsmith, fuelled by their belief in our proposition and eco ethos from the word go. Their loan enabled us to move into our first permanent premises last year, the success of which has enabled us to expand into our second and now third premises. We are also looking at further expansion within GM and possibly into London within the next few years”
Luke said: “We have created a concept that gives our customers a space to meet, a place to work, and a location to take joy in coffee and, by focusing on quality and delivery, we aim to be the coffee destination of choice for our community. BFS has always recognised the value of that and it has been great to work with their team again to bring our distinctive coffee and dining experience to a wider audience in MediaCityUK.”
Mark Hughes, Chief Executive of Manchester Growth Company said: “Greater Manchester has a great track record of nurturing and supporting businesses that deliver a really great product and that is exactly what has happened to Grindsmith. Peter, Luke and their team have invested an enormous amount of passion and energy into creating a truly authentic experience and it is great to see BFS play such a big part in supporting them with the finance and business advice they needed to take them to each stage of their journey.”
Lynn Haime, asset manager at MediaCityUK said: “Grindsmith is a great addition to the thriving food and drink scene here at MediaCityUK. The mixture of food, coffee and cocktails in such stylish surroundings is perfect for the workers and visitors alike, who frequent MediaCityUK. We look forward to seeing what comes next for this exciting brand.”
BFS is the finance arm of the Manchester Growth Company and supported by the GM Combined Authority and Greater Manchester Local Enterprise Partnership. BFS is a key alternative source of funding for small businesses in Greater Manchester and has grown a comprehensive range of finance products from £500 through to £500k of loans delivered through a range of products including Start Up Loans, Micro Loans, Business Loans and Export Loans, with support on raising early stage equity through the Co Angel Investment Service of up to £2m. To date BFS manages over £88m of publically backed small business investments across the UK.
Find out more about BFS finance at www.business-finance-solutions.org.uk or by calling 0161 245 4737.
