Mad Group, one of New Zealand’s fastest growing companies, is poised for further expansion both domestically and internationally with its initiation of an equity crowdfunding campaign to raise $1.5 million.
Mad Group, with brands Habitual Fix and Mad Mex, is valued at $9.8 million, which will rise to $11.3 million if the maximum target is achieved.
The ‘Snowball Effect’ crowdfunding campaign’s objective is to raise between $750,000 and $1,500,000, which represents a maximum stake of 13.3 per cent.
Shares are being sold at $1 each, with a minimum investment of $1000. The three year plan is to lift the number of Mad Mex stores in New Zealand to 19 by mid-2018.
In 2014, Mad Mex opened six stores. All Habitual Fix stores are franchised at 15, while Mad Group owns all of the Mad Mex NZ stores.
Mad Mex has more than 45 stores in Australia.
The capital raised in the equity crowdfunding campaign will be used primarily to grow the Mad Mex business locally, rollout both brands around NZ, and assist in the sales and marketing of international franchise licences for Habitual Fix.
Mad Group’s vision is to grow into 100 plus stores across three to four brands, both franchised and company-owned, over the next five years.
It is already talking to interested parties in the US and Japan and intends to use $50,000 of the raised capital to seek further franchise opportunities in other markets.
James Tucker and Tim Benest opened Habitual Fix and Mad Mex to provide fresh food and good Mexican food respectively to the public.
