Velvet Fig Dining — Executive Summary
Velvet Fig Dining (Pty) Ltd is a premium-casual modern African fusion restaurant brand, established in Cape Town, Western Cape, South Africa. The Company is seeking a growth investment of ZAR 18 million (approximately USD 950,000) to fund the development and launch of…
Section 1 · Business Plan
Executive Summary
Velvet Fig Dining (Pty) Ltd is a premium-casual modern African fusion restaurant brand, established in Cape Town, Western Cape, South Africa. The Company is seeking a growth investment of ZAR 18 million (approximately USD 950,000) to fund the development and launch of…
To launch a premium-casual modern African restaurant in Cape Town, targeting a ZAR 7.2 million Year-2 EBITDA (20% margin), ZAR 90 million in five-year revenue and an estimated ~42% IRR.
Velvet Fig Dining (Pty) Ltd is a premium-casual modern African fusion restaurant brand, established in Cape Town, Western Cape, South Africa. The Company is seeking a growth investment of ZAR 18 million (approximately USD 950,000) to fund the development and launch of its flagship restaurant, brand infrastructure, and 6 months of operational working capital.
The concept addresses a demonstrably underserved segment: elevated African cuisine at accessible price points, delivered in a design-led, experience-rich environment. South Africa’s dining sector — particularly in tourism-intensive urban nodes — is increasingly receptive to premium dining concepts that authentically celebrate African culinary heritage.
1.1 Investment Highlights
| Key Investment Metrics | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|
| Investment Ask | ZAR 18m | — | — | — | — |
| Break-Even Month | M18–20 | — | — | — | — |
| Payback Period | ~3.2 years | — | — | — | — |
| IRR (5-Year) | 42% | — | — | — | — |
| Revenue | ZAR 18m | ZAR 36m | ZAR 42m | ZAR 65m | ZAR 90m |
| EBITDA Margin | 10% | 27% | 28% | 32% | 33% |
| Net Profit Margin | 1% | 16% | 17% | 21% | 23% |
| Avg Spend/Cover | ZAR 350 | ZAR 420 | ZAR 450 | ZAR 460 | ZAR 470 |
| Locations | 1 | 1 | 1 | 3 | 5 |
1.2 Company Overview
| Name | Role / Title | Equity Stake | Background |
|---|---|---|---|
| Aidan Mokoena | Founder & CEO | 45% | Hospitality entrepreneur; 12 years F&B management |
| Isabella van der Merwe | COO | 25% | Operations & finance lead; ex-Woolworths Foods |
| Thabo Ndlovu | Exec Chef & Creative Director | 15% | Award-winning chef; trained in Paris & Johannesburg |
| Umoya Capital Partners | Private Investor | 15% | SA-based consumer-sector growth equity fund |
1.3 Strategic Value Proposition
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Differentiated positioning in a fragmented, price-sensitive market
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Scalable unit economics: 20%+ EBITDA achievable from Year 2
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Multi-unit rollout roadmap: Cape Town → Johannesburg → Durban → Pan-African
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Brand IP and experiential moat as long-term defensible asset
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Experienced founding team with proven F&B operational track record
1.4 Use of Proceeds
| Use of Funds | Amount (ZAR) | % of Total |
|---|---|---|
| Flagship Fit-Out & Interior Design | ZAR 7,200,000 | 40.0% |
| Equipment (Kitchen, POS, AV) | ZAR 1,800,000 | 10.0% |
| Brand Development & Digital Platform | ZAR 1,800,000 | 10.0% |
| Pre-Opening Marketing & PR | ZAR 900,000 | 5.0% |
| Regulatory, Legal & Compliance | ZAR 360,000 | 2.0% |
| Working Capital Reserve (6 months) | ZAR 5,400,000 | 30.0% |
| Contingency Buffer | ZAR 540,000 | 3.0% |
| TOTAL INVESTMENT | ZAR 18,000,000 | 100.0% |
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