Finance specialist cooks up £35k cash boost for gourmet chip shop
Wirral finance specialists, Bathgate Business Finance, have cooked up a tasty funding deal worth £35,000 to help launch a new Dutch-style chip shop concept in the UK.
Gourmet chip shop ‘Chip’d’ turned to the West Kirby finance company to seek asset finance to purchase a specialist Dutch-made frying range.
Unlike standard equipment available in the UK, the open range features four round pan chip fryers, which are essential to the brand’s cooking process.
The process involves hand-cutting fresh Agria potatoes, leaving the skin on and frying them twice in pure sunflower oil, before tossing them in sea salt and serving with a choice of dips.
The investment allowed the start-up to open its first premises on Northgate Street in Chester, which has seen significant success in its first few months.
This success has led to the launch of a second location, a year-long residency at the Dockside Dining Club at the busy and iconic Pier Head in Liverpool.
The inspiration for the concept came following a visit to the Netherlands by founder, Andrew Mckechnie.
While looking for something to eat he stumbled upon beautifully-designed shops selling nothing but twice-fried chips – cooked to order – and an extensive selection of sauces.
On spotting a gap in the market he brought the concept to the UK, first taking Chip’d to events such as Festival No. 6 in Portmeirion and the Liverpool Food and Drink Festival, before deciding to open permanent restaurants.
Andrew Mckechnie said: “Before finding Bathgate I tried several asset finance companies. Many of them offered unviable repayment terms or made the whole process over-complicated.
“The process with Bathgate was completely different. Gordon and the team were friendly and quickly presented me with a number of great options.
“They even liaised with the fryer manufacturer on our behalf to make sure everything ran smoothly with the finance.”
He added: “Bathgate has been instrumental in getting Chip’d off the ground. The deal has not only provided the equipment we need to deliver the concept, it has freed up other funds for short term cash flow.”
Gordon Andrews, of Bathgate Business Finance, said: “We love supporting exciting new start-ups and providing advice that will help their ideas thrive and develop.
“Since we arranged the asset finance, Chip’d has gone from strength to strength and we’re looking forward to seeing it continue to grow.
“After sampling the Chip’d product range I can confirm that they are exceptional chips and dips and I have no doubt that the business will flourish, wherever it opens.”