The Pint Shop owners at Drive the Network

How has The Pint Shop created such great success in just three years?

Listen to the recording of the presentation here:

Richard Holmes and Benny Peverelli opened The Pint Shop in Cambridge in November 2013 with £200,000 from investors.

In late 2014 they announced plans to expand into two new locations and raised £600,000 in one day from existing investors.

In January 2015 they approached the hospitality industry for £2 million to fund the expansion plan.

Listen to the recording of the presentation and see the photos from the event on our Facebook Page 

They got what they needed, with offers still coming in, because they could show that they have a formula for generating growth, with revenue to match.
Year one £1.6 m
Year two £1.9 m
Year three £2.3 m

They also won 2 awards – from the Times and the Independent – which they estimate brought in an extra £2,000 a week.

Do Simple Things Well

Pitching to investors to raise the initial cash was a wake up call.

They were told, “What you’re proposing isn’t different, isn’t exciting, isn’t special.”

They went back to the drawing board and came up with the ideas that have made The Pint Shop unique – and very successful.

British bread, meat and beer are their staple offerings but done with style and in a way that answers the customers needs before all else.

There are several ingredients that are contributing to the success of the Pint Shop, but the main ones are:

  • Good planning and forecasting based on solid experience
  • Well financed with growth in mind
  • Differentiated from the competition

The friends met in 2008 and had each spent 14 years working in the hospitality industry before they decided to start their own business.

They spent a year working on their business plan and raising money for their new venture before they left employment.

When asked how they will maintain the individual character of The Pint Shop Cambridge when they expand to Oxford, London and other locations, Rich and Benny said,

We’ll give ownership to the local team, guaranteeing the same quality but allowing each branch of the chain to have its own personality

Sounds a lot like Drive … 🙂