cular route – rather than a traditional capital raise – as it provides customers with the opportunity to connect more deeply with the brand, and feel a genuine sense of ownership over it. Depending on the level of investment, contributors to the crowdfunding campaign can receive various rewards, or perks, ranging from a ‘Belles Owner’ bomber jacket, to a drink on arrival and 20 per cent dining discounts. Jenner-Leuthart said that Belles had been considering the crowdfunding concept for a few years, but the timing is now right – with a new location set to open in Adelaide early next year. In the campaign’s first week, it received over 1,000 expressions of interest (EOIs). “EOIs aren’t done deals, but the calls I’ve received have ranged from regular customers who genuinely love the business and want to be a part of it, to wholesale investors and growth funds who are looking at Belles from a commercial perspective,” Jenner-Leuthart said. “We see crowdfunding as a way to engage these customers, and include them as part of our journey as we grow and expand further.” The full shareholder offer will become available once the EOI closes on November 13. Ultimate success The crowdfunding campaign comes on the heels of a successful calendar year for Belles. According to Jenner-Leuthart, its inaugural Fitzroy location saw revenue exceed its best previous year by over $1 million, with profit margins also substantially increasing. It has also amassed a significant social media following, with over 45,000 followers on Instagram. He partly attributed this growth to the brand’s unique market position as offering premium casual dining, with an immersive dining and customer experience offering underpinned by a range of management initiatives.  These include significant investment in the restaurant fit-out, an impressive sound system, personalised table service, a diverse beverage selection with options across different price points and a 24/7 streaming radio station curated by a DJ based in Paris, which features across its venues. “Customers feel like the value proposition is high. If they go to a competitor and order a basket of chicken or a chicken burger, they might pay a little bit less,” Jenner-Leuthart explained. “But customers want to be looked after and treated well, and they want to feel a genuine connection with the venue itself.” He added that the brand’s growth is centred on its business model, which prioritises staff satisfaction and well-being. “Most businesses focus on commercial outcomes first, then consider their guests and then their team. We’ve gone in the opposite direction. We focus on our team first, who can then provide a great experience for our guests,” he said. He believes that guests feel a genuine sense of engagement with the brand, which is why he wants them to feel like owners.  “It’s the ultimate success for a hospitality operator – that guests feel invested in the business.” National and international expansion. Regarding Belles’ future expansion strategy, Jenner-Leuthart sees the potential for around 40 full-service Belles venues located across Australia. Meanwhile, over the next 18 months, there are plans for two to three new venues, with a grand opening every six months or so. The brand is seeking to consolidate its already strong presence in Melbourne and Sydney and – with the success of the recent Bondi opening – which has been “off the charts busy” – he is confident about Belles’ ability to open more locations, without compromising on its ability to offer premium, yet still casual dining. He has also identified opportunities to open interstate locations, including in South Australia – with the upcoming Adelaide store being in development for about 18 months – Queensland, and Western Australia. Beyond this, Belles has set its sights on international markets. “We’re developing our capacity to be an international brand, but we want to make sure we have Australia in really good shape from a corporate perspective first,” he said. “But there’s already been interest in parties outside of Australia, including across the Asia-Pacific region,” he said. “And as a Kiwi, if we didn’t go to New Zealand, I feel like I’d be letting down my country.”