The community kitchen rental space will be an extension of the service already in place inside Al-Manaar’s kitchen. This generates £54,000 annually, set up initially by the Royal Foundation.
There are many success stories that have come about through this space – one lady from Grenfell, not previously employed is now operating a successful catering business.
□ Kitchen rented for an average of 4 hours per day at £55 per hour will generate approx. £86,000 in revenue. Highlighted in green on P&L on the next slide.
□ Expenses: Part time staff to operate this space and advertising costs relatively low.
□ Secure, predictable revenue streams through kitchen rental space due to ability to contract with tenants.
PROBLEM: The rise of street food in London over the last 10-15 years has seen an increase in businesses in search of kitchen space.
SOLUTION: Kitchen space rental enables SME’s & individuals to rent commercial kitchens without entering long leases.
Vision: Al Manaar to employ a manager to effectively manage, schedule, optimize kitchen rental space and a Friday Grab & Go Café.
□ Al-Manaar’s proximity to Portobello road makes this a particularly attractive prospect
Use case for this real estate scenario. This currently generates £54,000 annually at £30 per hour. Market value is min £55 per hour.
□ The housing development will increase footfall for the Grab & Go Café.
□ Advertise space on Platforms such as Kitchup – https://www.kitchup.co.uk/ “the space for food entrepreneurs and kitchen space”