Leeds-based Fresh Thinking Capital has helped a young entrepreneur acquire funding to support the expansion of his successful hospitality business.
Louis Dixon, 22, has secured £550,000 to support the expansion of his business, The Deep Beat Entertainment cafe company, which operates in 13 sites across the UK in parks and leisure centres. With this latest funding, it is now expanding into the travel and tourism sector for the first time.
The funding from Fresh Thinking Capital will support the acquisition of Watermouth Lodges in Ilfracombe from a private vendor. The North Devon holiday park will be the first site to operate under the new Park Life Resorts brand.
Established in 2018, Deep Beat Entertainment identified a gap in the market for a socially conscious café which could operate sustainably in highly seasonal trading environments such as public parks. The company has rapidly expanded from its first cafe in West Park, Macclesfield and is on track to turnover over £3m this year.
Jon Bennett, head of sales at Fresh Thinking Capital, said: “Louis is the perfect example of the kind of entrepreneurial individual we look to support at Fresh Thinking Capital. A hungry businessman who wants to make a difference in his local community and deliver service that is second to none.
“It was a pleasure to help Louis shape this deal where the current economic situation made it difficult for conventional funders to assist at the time. We look forward to supporting Louis in his future ventures and watching the Park Life brand continue to enjoy the enormous success it has already had.”
Melanie Hird, director and co-founder Fresh Thinking Capital, said: “When we founded Fresh Thinking Capital, our key ethos was to help businesses make the most of their opportunities. As we continue through this difficult time in the UK, we continue to deliver a service that allows our clients to focus on their opportunities and ensure we support them every step of the way.”
Louis Dixon, founder of Deep Beat Entertainment, said: “We have big plans over the next few years with continued growth in the cafe industry and UK staycations. Consumers are seeking to make the most of their leisure time and seek out a premium product and service. Our approach is a proven model that provides growth and creates much-needed jobs.
“At an unprecedented time in the UK economy, Fresh Thinking Capital moved quickly to help us acquire a business in a tight timeframe. It’s great to see a funder who will support young entrepreneurs, and thanks to Fresh Thinking’s advisory nature and support, we had a partner in the deal.”
Watermouth Lodges offers accommodation in a 12-acre woodland setting overlooking Watermouth Harbour. The one to four-bedroom lodges provide privacy, and some come with hot-tubs.