Huggy's Bar, the anti-fast food burger, will be profitable in 2018

Liège's Huggy's Bar has 9 gourmet burgers. He has just raised 1.1 million through Invest For Jobs. The sign will finish for the first time this year in the green. Three institutions will open in 2019.

In the highly competitive burger – fast food market, gourmet burgers chains (Ellis Gourmet Burger, Be Burger, Manhattn's), etc. – the Liège Huggy's Bar detonate a bit. He relies on choice (43 varieties of burgers) and the local products (The meat comes from a butcher shop in Liège). And he developed with the Curtius brewery a range of eight beers granted to his dishes, all in an atmosphere reminiscent of American "sports bars". In fact, it was in the United States that the idea of ​​Huggy's Bar was born. In 2011, Thomas Mémurlin and Roberto Navarro go there on vacation, after their studies at HEC Liège. They discover the "gourmet" burger: real restaurants, a table service, a wide offer. Nothing to do with traditional fast food. Inspired by their discovery, in 2012 they opened the first Huggy's Bar in Liege while ensuring their backs by working in consulting: Thomas at Accenture in Luxembourg and Roberto at Aon in Chicago. "It allowed us to train, learn and refine the concept, tells Thomas Memurlinbut over time, as we liked the adventure, we wanted to make it our life project, to create a concept, a brand. "

A determining character will help them: Gabriel Jean, an investor consultant. "He liked our project, we sold him shares in exchange for financing and advice, he guided us, challenged, opened his address book and put 1.5 million on the table, what to fund in their own funds. first ten restaurants. " In addition to the support of their mentor and their savings, the two entrepreneurs, who hold the majority of the company, also managed to convince Meusinvest and BNPP Paribas Fortis to finance them. This has allowed them to open up to date nine restaurants: 6 in the region of Liège, two in Brussels and more recently one in Charleroi.

Problem. Since Meusinvest can only invest in its "catchment area" and the duo does not have sufficient capital to pursue the development of a greedy brand of capital – 600,000 euros per restaurant outside walls – it had to find other source of funding. "We were referred to the Invest For Jobs Fund, Thomas Memurlin details; it has put 1.1 million in loan form, which makes it possible to take over from Meusinvest where the latter can not go. "

As indicated by his name, Invest For Jobs, created by social partners of the metallurgy and technology federation Agoria, is a private fund with social purpose: "Since we create a lot of jobs, 200 (130 FTEs) so far, the project seduced them ", notes Thomas Memurlin. This injection will allow Huggy's Bar to open three new restaurants in 2019, two in Charleroi and one in Namur. Ultimately, they are targeting two openings per year to reach a network of 15 to 20 restaurants, no more. "We do not want to open all over the place because we want to keep control of the concept, guarantee quality, explains Thomas Mémurlin; that's why we do not bet on franchising, even if it would allow us to grow faster. " Except, as was the case at Sprimont, when an entrepreneur arrives with an excellent location.

The duo of entrepreneurs is not saying too much in a hurry. Flanders appears to be a natural expansion, like the North of France. This caution will enable the banner to be profitable for the first time this year. Each restaurant carries out a annual turnover ranging from 1.4 to 1.8 million, the latter being faster profitable with margins ranging from 4 to 6%. What will one day attract investors? "We've already discussed it between we will see, Thomas Memurlin concludes. Today we have fun, it's our baby and we do not have the will to give it away. "