Leeds entrepreneurs open new restaurant after securing £110,000 funding
Two entrepreneurs with a wealth of experience working in some of London’s top restaurants have launched their first UK restaurant venture in Leeds, after securing a £110,000 business funding deal from Reward Finance Group.
Alexander Jarvis and husband, Clement Cousin, have utilised the facility provided by Reward, an alternative finance lender, to purchase the former Little Monk site on Town Street in Horsforth, recently opened as Bavette Bistro.
Alexander has enjoyed a successful culinary career since leaving college as a trained chef in 2007. His experience includes working as a commis chef at former Michelin guided Knightsbridge restaurant Racine, and more recently as group managing director and head chef for The Culpeper Family Hospitality Group.
Clement moved from rural France to London in 2012 and has amassed over 10 years of front of house experience in a range of restaurants and bars, including being restaurant manager at The Culpeper Family Hospitality Group where he met Alexander.
The business partners spent over six months seeking a suitable location for Bavette Bistro and needed a lender that could offer the pace and flexibility of funding when the right location arose. Speed of lending was also needed to ensure the refurbishment work could be completed within a tight timescale, whilst the working capital will help support the business during the first few months of trading. Reward specialises in providing tailored business finance and asset based solutions of up to £5m to property investors and SMEs across the UK.
Alexander Jarvis, director of Bavette Bistro, said: “Having both worked in the hospitality industry most of our lives, we decided it was time to look into opening our own venture. The bistro is ideally located in the centre of Horsforth’s thriving bar and restaurant scene and will offer a seasonally-led menu of dishes to cater for around 36 covers.”
“The funding provided by Reward is integral to financing the property lease purchase, complete the necessary redevelopment work to create a welcoming neighbourhood bistro and provide the working capital security while we build our reputation. We’re excited to have launched our first bistro in Leeds and we plan to succeed in an area of business that we are hugely knowledgeable and passionate about.”
Alan Sanderson, one of Reward’s underwriters, added: “It’s great to support such a diverse range of SME businesses across the region, especially two hugely talented entrepreneurs who have drawn on their extensive experience in the restaurant industry to launch their first business venture. Alexander and Clement have worked for some of London’s finest restaurants and bars and will no doubt thrive in such a high footfall area with a well-established line up of eateries and bars.”
“The deal is a great example of our flexibility and speed of lending and our ability to support a new business in the hospitality sector – something that mainstream lenders aren’t doing as frequently at the moment. We look forward to following the success of Bavette Bistro as it no doubt goes from strength to strength.”
