THE trio behind the planned bakery and kitchen The Creameries in Cheadle, South Manchester, have increased their crowdfunding target to £50,000 after hitting their initial £20,000 goal within four days.
Manchester chef Mary-Ellen McTague, baker Sophie Yeoman and designer Soo Wilkinson have teamed-up to open the venue in a former creamery on Wilbraham Road.
They had originally planned to each contribute £30,000 from their own savings £30,000 bank loan with a further £20,000 raised through crowdfunding for the £110,000 project.
The trio have now introduced a stretch crowdfunding target of £50,000 which, if achieved, would enable them to bypass the banks entirely.
In a joint statement posted on Indiegogo they said: “Our business plan was to open The Creameries through using savings, money from crowdfunding and a bank loan to cover the rest.
“We underestimated how much goodwill there is out there in Manchester and further afield, and how much excitement there is to bring back The Creameries. After such an astounding week we would love to see if we can raise any more money and try to avoid being reliant on borrowing from banks.
“This will make our business much stronger when we open and free up money that would have been tied up in loan repayments, meaning we can make the place the best it can be for all our customers, big and small.”