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TuttoFritto

A restaurant chain focused on gourmet street-style food with a touch of Italian traditions.

  • Join a rapidly and steadily growing restaurant chain proposing a new approach to Italian traditional deep-fried food
  • The restaurant chain has roots in Italy (where the first four restaurants and a food truck are already operating) and its brain in Sweden since it is controlled by a Swedish management company (TuttoFritto Management AB)
  • International expansion already started with the first restaurant opened in Belgium
  • The existing restaurants are profitable and our recipes got awards and outstanding customer reviews
  • We will open new restaurants in Sweden, Belgium and Denmark by 2020
  • We will launch our franchising program in 2021

Investor proposal

  • Become part of TuttoFritto Management AB, the management company that owns and manages all the restaurants of the chain
  • Haute cuisine offered at reasonable prices (under 10€ per meal) in a friendly, warm and informal environment with a quick service (under 15 minutes) 
  • Proven profitability. The revenues have grown 4x from the first to the second year of activities (record revenue day for single restaurant: 3 500€) 
  • Easy-to-replicate concept
  • Aiming for a steady growth and launch of franchising program in 2021
  • In 2020, we'll evaluate how to offer a partial or total early exit to seed investors like you

Issuer: TuttoFritto Management AB (Sweden)
Total amount in the offering: 50 000€
Valuation Pre Money: 1 850 000€
Existing number of shares: 50 000
Existing shares will be converted to A-shares with 10 votes per share
Number of shares offered: 1 351 B-shares (1 vote per share)
Number of shares after investment: 51 351
Valuation Post Money: 1 900 000€
Ownership offered, Post Money: 2.6%
If the campaign gets overfunded, additional B-shares might be issued to the same price per share
This campaign has lead investors

Product

The problem this product solves

  • We want to propose a new concept for deep-fried cuisine, which challenges the current fast food and street food offering (typically cheap and unhealthy)
  • We offer exclusive recipes and raw ingredients from small and excellent producers: Many different kinds of supplì, typical balls of rice (generally risotto) with a variety of signature sauces!
  • Our customers enjoy exclusive deep-fried food recipes while sipping champagne and organic wine
  • New recipes are created, tested and refined together with a core group of loyal customers and shareholders, who regularly participate to food co-design events

How the product solves it

  • The best Italian deep-fried food restaurant chain!
  • 5 restaurants already open in central locations in Rome and Turin (Italy) and Antwerp (Belgium) 
  • A food truck successfully operated during the summer in Venice and now we plan to move it to Sweden in 2018
  • Very high customer satisfaction, recommended by the best Italian food guides (including the prestigious Gambero Rosso) 
  • Dedicated interactive and social media department focusing on continuous marketing and communication campaigns (e.g., with large fan base on Facebook)
  • Easy-going and fun, warm atmosphere, friendly and informal environment, reasonable pricing

Product features

We paid attention to identifying and designing a scalable model:
  • Clear and recognizable brand identity and food offering
  • The particular/unique process of cooking deep-fried foods allows a consistently high quality and flavor across regions
  • Signature recipes are modeled to be replicated after training
  • We have a development team ready to fly to international locations and train local employees
  • We have agreements with Italian food distributors across Europe
  • Sit down or take away - this allows to open small corners or bigger restaurants
  • The restaurants operate with two brands (Pastella in Italy and TuttoFritto at an international level)

Product use cases

TuttoFritto combines the warmth of street food with signature, exclusive recipes based on excellent raw ingredients. The service is fast and the price is reasonable. TuttoFritto aims at redefining the perception of deep-frying.

Team

Martino Bellincampi avatar
Martino Bellincampi Founder, CEO, Executive Chef
CEO, core founder and executive chef of TuttoFritto. He oversees the direction for the food and conceives the dishes for the menu. His attempt at transforming Italian traditional deep-fried recipes has been praised by the most important food critics of media outlets such as Gambero Rosso, RAI, Repubblica. He has ... See more
CEO, core founder and executive chef of TuttoFritto. He oversees the direction for the food and conceives the dishes for the menu. His attempt at transforming Italian traditional deep-fried recipes has been praised by the most important food critics of media outlets such as Gambero Rosso, RAI, Repubblica. He has previously founded and successfully managed 4 other companies in Italy and Sweden. See less
Laura Bartilomo avatar
Laura Bartilomo Kitchen Manager
Laura joined TuttoFritto after a career in various important Italian restaurants. She trains all the TuttoFritto chefs and regularly visits our restaurants to make sure that they maintain an optimal level of quality in food production and delivery.
Domenico Nesci avatar
Domenico Nesci Founder and CFO
Broad range of experiences in management and entrepreneurship. Approx. 15 years in the Telecommunications industry as manager (up to VP level) and entrepreneur. 10+ years in Customer Management and Customer Operations Outsourcing (BPO) as entrepreneur. Committed to grow as innovator, mentor and investor. Business Angel since 2011, co-Founder of Angel ... See more
Broad range of experiences in management and entrepreneurship. Approx. 15 years in the Telecommunications industry as manager (up to VP level) and entrepreneur. 10+ years in Customer Management and Customer Operations Outsourcing (BPO) as entrepreneur. Committed to grow as innovator, mentor and investor. Business Angel since 2011, co-Founder of Angel Partner Group, one of the largest BA community in Italy. Partner of LVenture Group, seed Venture Capital firm. Kauffman Fellow. See less
Matteo Santucci avatar
Matteo Santucci Founder and Brand Manager
Co-founder and brand manager of TuttoFritto. He has a long experience in the advertising industry, where he worked for more than 20 years as Creative and Art Director for private and public organizations. He is currently overseeing all the branding and creative materials for TuttoFritto. In addition, he runs his ... See more
Co-founder and brand manager of TuttoFritto. He has a long experience in the advertising industry, where he worked for more than 20 years as Creative and Art Director for private and public organizations. He is currently overseeing all the branding and creative materials for TuttoFritto. In addition, he runs his own biodynamics farm in Tuscany that sources the Italian restaurants of TuttoFritto. See less
Fabio Massimo Moreschini avatar
Fabio Massimo Moreschini Founder & Communication Manager
He oversees all the interactive and social communication channels that are a key component of the brand identity, but also of the interaction with our customers. Previously, he supported the online communication and the marketing operations or Clients such as Turner Broadcasting System, Warner group, CNN, Cartoon Network and Boomerang.
Luca Simeone avatar
Luca Simeone Founder, International Development Manager and R&D
Luca Simeone is an innovation consultant and serial entrepreneur with significant experience in the hospitality and food business. He has a specific focus on marketing and communication and previously worked on a variety of projects for McDonald’s, Procter & Gamble, Unilever and Diageo also supporting the launch of franchising-based operations. ... See more
Luca Simeone is an innovation consultant and serial entrepreneur with significant experience in the hospitality and food business. He has a specific focus on marketing and communication and previously worked on a variety of projects for McDonald’s, Procter & Gamble, Unilever and Diageo also supporting the launch of franchising-based operations. He has had affiliations with various university (MIT, Harvard, Aalborg University) mostly as project leader for R&D activities related to entrepreneurship. He lives in Malmö. See less
Francesco Cerasani avatar
Francesco Cerasani Development Manager for Belgium
36 years old, PhD in History, in Belgium since 2004. Officer in the EU institutions, he’s always been very active as “community organizer” of the Italian and expats citizens living in Brussels. Food and wine lover, he has dedicated several journeys throughout Europe and the Middle East to explore food ... See more
36 years old, PhD in History, in Belgium since 2004. Officer in the EU institutions, he’s always been very active as “community organizer” of the Italian and expats citizens living in Brussels. Food and wine lover, he has dedicated several journeys throughout Europe and the Middle East to explore food culture. See less

Market

Target Market

In Europe, 50% of consumers buy street food at least once a week and more than 20% three times a week. 81% of the respondents eat street food for lunch. Average revenues for the restaurant business are increasing yearly. We offer distinctive recipes that are not frequently offered outside Italy. Not many people know the ‘supplì’, which is extremely appreciated in Italy. We aim at modernising these deep-fried tradition offering unique recipes both for take-away and for customers who want to sit down. Markets of our interest now are: Italy, Belgium, Denmark and Sweden.

Competitive landscape

In terms of competition, our customers might decide to:
  1. Go for lunch to cafés and fast food chains or take-away food
  2. Go for dinner to restaurants or take-away food
  3. Go for a late night snack to fast food chains open until late

Unique differentiator from competitors

  1. Who goes for lunch to cafés and food-chains should choose us because we offer exclusive recipes, in a timely manner and at a reasonable price
  2. Who goes for dinner to restaurants should choose us because we offer dishes that Italian restaurants do not serve (e.g., in Malmö very few restaurants serves a dish that is similar to suppli - but our suppli come with our recipes and in many different fillings!) 
  3. Who goes for a late-night snack dinner to fast food chains should choose us because we offer tasty and high-quality food that costs not much more than fast-food chains

Company revenue streams

  • Food sales - we keep experimenting with new recipes. We test our food offering in collaboration with our key customers (during some special food co-design events)
  • Every year, we organize some food discovery trips open to customers and stakeholders, where we travel to specific area of Europe and try to get in touch with local producers and secure exclusive deals
  • We started selling selected products from exclusive Italian producers: mustards, wines and champagnes (in the Italian restaurants), vinegar, oil, rice, anchovies and other delicacies
  • We offer catering for selected events
  • We started offering cuisine lessons

Product/service distribution

The company operates with two brands:
  • In Italy, we use the name Pastella
  • For international markets, we use the name TuttoFritto
After extensive user testing with Italian and international customers, we realized that the brand Pastella works well for the Italian market, but that for the international markets we need a more recognizable name. We then decided that we will keep using Pastella for the Italian restaurants and we will use TuttoFritto for international restaurants.

Execution

Previous milestones/traction

These are the elements behind the current valuation of the company:
  • Five restaurants opened in Rome, Turin and Antwerp and a food-truck operating in Venice and ready to move to Sweden
  • 272 800 suppli fried in the last 12 months
  • Average daily number of receipts per restaurant: 300
  • Average yearly revenues per restaurant: 310 000€ (and growing)  
  • EBIDTA: 16%
  • Creation of special and unique recipes
  • Key partnerships with suppliers, distributors and other food chains including organic food producers
  • A growing number of awards and positive reviews

Next key objectives

  • Q1 2018: FundedByMe campaign
  • 2018: consolidation and modelisation of international operations (logistics, marketing)
  • The plan is to expand the chain and have 12 owned restaurants operating in various countries by the end of 2020
  • 2021: launch of the franchising program

Previous Financing

So far, Tutto Fritto has received funding from:
  • 2015: Pastella srl, the Italian branch of TuttoFritto, was born with investments by the founders Martino Bellincampi and Matteo Santucci
  • Q4 2017: a group of Italian investors supports the creation of TuttoFritto Management AB

Partnerships

  • Partnership with Mercato-Centrale (http://www.mercatocentrale.it/en/), a chain of food-courts established in various Italian cities. Pastella has an agreement with the Mercato Centrale to jointly open new restaurants in other locations
  • Commercial relations with food distributor and organic farmers across Europe
  • Agreement with the biggest Italian food specialty store with branches in various parts of the world, including Copenhagen (https://www.eataly.com/)
  • Privileged partnership with organic wine producers and champagne producers
  • Partnership with top cooking schools in Rome
  • We are part of Kitchen Collective (kitchencollective.dk)

Use of funds

  • We would like to find some other investors who believe in TuttoFritto and want to join us in the first phase of our international expansion. Ideally, we are looking for investors who are also passionate about Italian cuisine and excellent food in general and who can also help us as international ambassadors
  • We will use the proceedings from FundedByMe to consolidate international operations and initiate the expansion in Sweden and Scandinavia

Industry Certifications/Awards

Pastella, the Italian branches of TuttoFritto, received prestigious awards and it is often praised in food and travel guides. The Gambero Rosso guide (one of the most important food guides in Italy) described Martino Bellincampi (our CEO and Executive Chef) as “the heart and soul of TuttoFritto, a point of reference for the Italian fried tradition, also in their most original and creative interpretations. His restaurant in Montesacro made local residents crazy".

Return on Investment

We anticipate that the company value will increase at least by 3 times in 3 years with limited risks of underperformance. In 2020, we will be ready to bring the company to the next level. By then, as we go back to investors, we will evaluate how to offer a partial or total early exit to seed investors like you.

Risk Analysis

  • Deep fried food perceived as cheap and unhealthy
  • Competition in street and fast-food
  • Scalability of the model
  • Countermeasures: we pay the greatest attention to the oils and the frying process; we combine delicious food selection with continuous and impactful storytelling and communication; we track performances with various analytics (including CRM) that allow us to streamline the process at a point that can be replicated in other geographic areas