Big expansion plans for Streat cafe franchise
A Holywood-based branded café franchise operated by a husband and wife team is investing more than £650,000 to develop opportunities in the Republic of Ireland and Great Britain for its distinctive business model.
The Streat, headed by Michael and Nikki McQuillan, is planning new franchised cafes in the Republic, including Dublin, and an expansion of its high technology Streat-on-wheels 'Vanchise' mobile caf business during 2007.
Invest NI has offered the company financial assistance of 103,000 to develop its business outside Northern Ireland. The investment is expected to create 10 new jobs at the company's head office over the next three years.
Michael McQuillan, The Streat's Managing Director, said: "Our objective is to grow turnover almost 10-fold by the end of the three years. We are convinced that we can achieve this through our unique proposition which offers customers an all-day range of freshly prepared food and coffee, with award-winning service. As part of this expansion, we have already opened a landmark caf in Oliver Plunkett Street, Cork, which is already developing waves of regular customers.
"In addition, we offer franchisees superior value in terms of fees and fit-out costs.
"Furthermore, franchisees benefit from our comprehensive training programme and ongoing support to boost sales. A key element in our expansion plan and our commitment to helping franchisees succeed is the creation of a dedicated training centre.
Mr McQuillan added that the investment would help to build the profile of The Streat as the most recognised brand within the branded caf sector.
Commenting on the expansion plans, Maynard Mawhinney, Director of Invest NI's Food Division, said: "This is a very successful entrepreneurial business which has established a strong market position in Northern Ireland through its distinctive branding and excellent quality in terms of its products, services to customers and its premises.
"The strong focus which it has on services to customers is clearly demonstrated through its commitment to employee training, a commitment which has seen the company achieve its Investors in People accreditation and a National Training Award.
"Our support is geared towards helping the company grow its business outside Northern Ireland, to around 50 per cent of turnover over the next three years through a significant increase in franchisees including 29 in external markets.
"This expansion should provide opportunities in Northern Ireland for enterprising people in the catering industry. Existing and potential suppliers in Northern Ireland could also benefit from the company's growth. Overall, the planned investment by The Streat will help to create additional wealth in Northern Ireland.''
The McQuillan's opened their first Streat food outlet was opened in Belfast in February 1999 and the first franchise opened in September 2003.
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