# Clean Kitchen Club Financial Model

UK plant-based QSR brand operating eat-in, grab-and-go, and delivery formats across London, with plans for nationwide expansion.

- Canonical: https://finamodel.com/startups/clean-kitchen-club
- Excel download: https://finamodel.com/startup-models/clean-kitchen-club.xlsx
- Category: Logistics/Mobility
- Model type: Unit-economics / DTC
- Funding round: Seed
- Funding: $1.7M
- Founded: 2022
- Geography: UK-centric; London first, national rollout planned through 2025.
- Customer: B2C

## About the company

Clean Kitchen Club is a UK plant-based QSR brand with eat-in, grab-and-go, and delivery formats. It aims to expand beyond London through a multi-format restaurant and delivery model.

The model should build locations by format and apply a new-site ramp to orders, average ticket, and delivery mix. Those drivers determine sales at mature and newly opened sites.

Forecast food cost, labour, rent, and delivery economics at each format. This lets the plan show whether growth comes from owned locations, grab-and-go demand, or delivery-led volume. Use consistent location assumptions so the London base and future expansion are comparable across the whole QSR network.

## What's included

- 5-year monthly revenue build with stage-appropriate growth assumptions
- Full P&L, headcount plan, and operating-expense schedule
- Cash-flow statement, runway, and burn-rate tracking
- Valuation via exit multiple with a DCF cross-check
- Returns analysis with MOIC and IRR
- Unit economics including CAC, LTV, payback, and cohort retention

## Product & value proposition

- 100% plant-based menu: burgers, chicken-style sandwiches, fish-style items, sides, açaí bowls, smoothies, and sandwich bar baguettes/bagels.
- Burger prices: £8.50–£10.50 standalone; meal upsells to £14–£16. Sides £3.50–£6.50.
- Multi-format: eat-in, grab & go, delivery (Deliveroo, Uber Eats), dark kitchens.
- Proprietary food-tech portfolio planned: own-brand sauces and meat substitutes beyond QSR.
- Sustainability differentiator: first restaurant with carbon labelling on menu; targeting B Corp by 2023.
- Brand built on founders' social-media following and TV personality co-founder (Verity Bowditch, Made In Chelsea).

## Revenue model

**Primary - restaurant / QSR sales**
- In-store food & beverage sales across eat-in / grab-and-go formats.
- Delivery via third-party platforms (Deliveroo, Uber Eats).
- Dark kitchen / virtual brand expansion planned.

**Secondary (planned)**
- Retail: proprietary plant-based products into supermarkets (timeline: April–September 2022 phase).
- CPG / food-tech: own-brand sauces and meat substitutes.

**Pricing (from menu, all GBP):**
- Burgers: £8.50–£10.50 (standalone), £14–£16 (meal)
- Sides: £3.50–£6.50
- Açaí bowls: £8; Smoothies: £6; Baguettes: £7; Bagels: £6

No stated average order value (AOV), delivery commission rates, or retail margin data in deck.

## Traction & metrics

- 4.8 rating on both Deliveroo and Uber Eats; 500+ reviews on each platform.
- 500 people attended new site launch event.
- "Thousands of weekly orders" at new site.
- £4k profit in week one of new site launch.
- TikTok: #1 most-followed plant-based brand; 60.2k followers; 1.8M views in the last 30 days.
- YouTube: 368k+ subscribers.
- Podcast 'Get me to Vegan': #13 on podcast business charts at launch; 10k+ weekly audience.
- Instagram: 30.3k followers (visible in screenshot, @cleankitchenuk).
- Website: 25k+ organic monthly views, zero paid ads / SEO spend.
- Combined founder social following: 800k+ across channels.
- 100k+ followers across brand platforms.

No revenue figures, cumulative sales, or number of locations operating at time of deck.

## Unit economics

- £4k profit stated for week one of new site launch. - currency ambiguous (likely GBP), no cost breakdown given.
- Marketing spend described as "virtually zero" - organic/community-led growth.
- No CAC, LTV, food cost %, labour %, rent, or EBITDA margin data in deck.

## Competition / moat

**Direct competitors named:** Pret a Manger, Leon, Joe (Joe & The Juice), The Vurger Co., neat burger.

**Moat claims:**
- Only at-scale vegan/plant-based QSR brand in UK (no credible incumbent).
- Built with near-zero marketing spend via founder personal brands and community.
- Multi-format execution (delivery, dine-in, grab & go) vs. single-format competitors.
- Proprietary product pipeline (sauces, meat substitutes) creates IP layer beyond restaurant ops.
- Sustainability credentials and carbon labelling as brand differentiation.

## Team & funding ask / use of funds

**Team:**
- Mikey Pearce - Founder & CEO; hospitality background; 800k+ combined personal social following.
- Verity Bowditch - Co-Founder & Head of Sustainability; British TV personality (Made In Chelsea).
- Nolan Spratt - Operations Director; multi-site hospitality track record.
- Chase Hunter - Operations Director; owned/operated 15 venues over 10 years.
- Grace Beverley - Investor & Board Advisor; Forbes 30 Under 30 (retail/e-commerce); founder of two D2C fitness brands.

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## Recommended financial model

- **Archetype + why:** Multi-site QSR / restaurant roll-up P&L with a retail/CPG revenue layer. The business is a site-count-driven restaurant model (revenue = sites × weekly covers × AOV) combined with a nascent delivery and retail revenue stream. A 3-statement integrated model is appropriate given capex-heavy site roll-out (fit-out costs), working capital needs, and need to show path to site-level and consolidated EBITDA. Not SaaS, not marketplace, not SPAC.

- **Forecast horizon & granularity:** Monthly for Years 1–2 (2022–2023, matching the pipeline slide); quarterly for Years 3–4 (2024–2025). Site-by-site build for Year 1 given named pipeline; cohort-level from Year 2.

- **Key drivers & assumptions:**

| Driver | Value / Source |
| -- | -- |
| Sites open at model start (2022) | 1 confirmed (Soho/Piccadilly implied); exact count not stated |
| New site openings per year | 7 sites in 2022, ~10 in 2023, ~10 in 2024, ~13 in 2025 |
| Average weekly orders per site | "Thousands" at launch site; |
| Marketing spend | Virtually zero organic; |
| Week-one profit (single site) | £4k |

- **Scenarios (Base / Bull / Bear - which variables flex):**
  - **Base:** Site openings per plan (7/10/10/13), AOV £13, 1,800 weekly orders/site, 17% site EBITDA margin at maturity.
  - **Bull:** Accelerated rollout (1–2 additional sites/year), retail CPG line achieves supermarket listings in H2 2022, AOV £14.50, delivery mix climbs to 50%.
  - **Bear:** Rollout slips by 6 months per cohort, AOV compresses to £11 (competitive/consumer pressure), delivery commissions rise to 35%, site EBITDA margins stay at 10%.

- **Required sheets / outputs:**
  1. **Assumptions** - all drivers in one tab, no hardcoding.
  2. **Site Roll-up** - per-site revenue, ramp schedule, site-level P&L (revenue, food cost, labour, rent, site EBITDA).
  3. **Delivery Revenue** - separate build for platform delivery with commission netting.
  4. **Retail / CPG** - simple revenue build for Year 2+.
  5. **Consolidated P&L** - aggregated revenue → gross profit → EBITDA → EBIT (including central overhead: management team, marketing, head office).
  6. **Balance Sheet** - capex, fit-out depreciation, working capital (payables-heavy, minimal receivables for restaurant).
  7. **Cash Flow Statement** - capex per site, operating CF, funding requirements.
  8. **Funding Waterfall** - show how much equity/debt is required to fund site roll-out given capex per site and ramp EBITDA.
  9. **Dashboard** - site count over time, system-wide weekly orders, revenue, EBITDA, cash runway.

## Frequently asked questions

### Is the Clean Kitchen Club financial model free?

Yes. The Clean Kitchen Club model is a free Excel download with live formulas.

### Can I change the assumptions?

Yes. The workbook is editable and its live formulas recalculate when assumptions change.