Thinking of expanding your group to a new site in London?
This month sees a whole range of new openings across the Capital. And it’s fantastic to see the breadth of experiences on offer: from the third location for New York-inspired group Dirty Bones in Shoreditch, housed in a Grade II-listed heritage building, to the exquisite pan-Asian restaurant group Tootoomoo opening its fourth site in Islington.
If you are thinking of expanding your group to a new site in London, or you’re ready to take the first step into the London restaurant arena, here are 3 reasons you should do it before 2017.
As we wrote following Britain’s decision for Brexit, this result, which had been in the balance for so long, has been settled.
We speculated that this would allow the market to plan for the future after a period of instability and that agents who had been holding back until a decision came, one way or the other, could act in numbers, leading to a spread of sales in the city causing an increase in revenue in the sector.
It looks like this has been exactly what has happened. Takings were up in July — a robust 2.9 percent increase on last year in London compared with a 0.5 percent drop outside the M25, the data shows.
The fall in the pound’s value following the referendum has had a positive impact on foreign tourism into London, with summer 2016 seeming like a record-breaker. In other words, now is as good a time as any to expand or start your business.
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