Liquid Gold: 92 Degrees Coffee - Northern Business Showcase

Hi All,?

Happy Friday, Spring is truly in the air and it feels that we are almost on the home stretch to at least 1 day of sunshine per week.

Last week we showcased?CircKit ?&?Veo ?- The Unified Sustainability Platform, founded by?Joe Darwen ?in?Manchester. It is driving sustainable production and consumption: empowering the Fashion industry with technology to embrace circularity (CircKit),?and connect brands with conscious consumers (Veo).

The economy?grew by 0.1% in February, which brings hope the UK is out of a recession already.

However, it seems that commitment towards Levelling Up has been reduced from Government. In my eyes, the way the UK can enter sustained meaningful growth for the future decades is continuing?the Levelling Up agenda and really commit to supporting more "left behind areas"

One of the areas which I think is rapidly developing is Liverpool. I'm sure there'll be many jokes flying around this week from a football perspective, but as a City Liverpool is changing.?

The docks area is a must visit and the regeneration around the entire city will be a lesson for cities in the future.?

The week's business comes from Liverpool but can be found in major cities all around the UK.?92 Degrees Coffee ?is en route to become a household name across the country as they continue really impressive growth.

The Showcase

Founders: Jack Brewitt & Gerard Bowers-McIntyre Location: 92 Degrees is headquartered in Liverpool, UK. They have multiple coffee shop locations across the country including Liverpool, Manchester, Leeds, Edinburgh and Glasgow.

Mission: Uniting Everyone, Everywhere Through Our Love Of Coffee

Story:

92 Degrees was founded in September 2014 with the purchase of their first coffee roaster. Starting in a small meeting room in Hardman Yard in Liverpool, they learned about importing, purchasing, roasting, and cupping coffee. Their journey led to the opening of their flagship store on the corner of Hope Street and Hardman Street. Despite limited knowledge in the food and beverage industry, the founding team persisted, working other jobs initially and reinvesting in the business. Founder Jack Brewitt and Co-founder Gerard Bowers-McIntyre aimed to challenge hospitality norms, fostering a diverse team dedicated to personal development and shared success. Today, with over 100 employees and significant revenue, 92 Degrees has evolved from its humble beginnings to become a resilient company, remaining committed to providing exceptional coffee experiences worldwide.

Forecast:?

Currently at 17 locations across the UK - we forecast to be at more than 20 in the coming months. ?We are on track to cross ￡6m in revenue with an EBITDA exceeding ￡1.25m for the first time with our commitment to further rapid growth over the coming years.

Ask:?

All the content in this newsletter is signed off by the Founders, Jack has asked to add the following "we are always on the lookout for great talent to join our team across our estate and in 92HQ. From operations, marketing, sales, finance - we are looking for ambitious people to join us on our 92 Degrees journey."

I have an unbiased?view, but the coffee is really good, it beats the stuff you pick up at Starbucks and other chains by a mile.

If you see one, be sure to pop in.

The coffee space has exploded over the past decade or so and at current run rate it doesn't look like it is going to finish.?

92 Degrees has a great brand and operating model which I know will lead to success for the business.

This newsletter is going to be developing significantly over the next few months so keep a look out for things coming down the pipeline.

I wish everyone a fantastic weekend.

Dominic