Funding Boost for Plant-Based Restaurant

By | |

A Plymouth cocktail bar has received a £100k business loan to remodel itself as a plant-based eatery.

Backed by British Business Bank’s Recovery Loan SchemeSeed Sip obtained funding to refit the business as they transition into a restaurant. 

Formerly known as The Gin Sanctuary, the business is co-owned and led by Jamie and Stephanie Sharp. Seed Sip will now offer a plant-based menu alongside its extensive drinks offerings. There are more than 30 plant-based cocktails to choose from. 

During 2020, trading began at the height of the pandemic. By remodelling, they will plug the gap in the market for high-in-demand plant-based food. 

Open six days a week, the business has already created four new jobs. There are plans to create two further roles in the coming months. 

Furthermore, Seed Sip works hard to support its local community. Aside from creating new jobs for local people, they source their ingredients locally too. 

Following the funding, co-owner Jamie said: “Without the funding, we would not have been able to pivot from cocktail bar to restaurant and cocktail bar. The cost involved was too much as an independent owner to cover. The loan allows us to offer our new brand and positioning, drive footfall across seven days a week and invest in talent which will ultimately drive growth.” 

Meanwhile, SWIG Business Manager Rachel Thomson commented: “Plant-based food is on trend and better for the environment. Although Seed Sip began trading at the height of the pandemic, they have made a real success of it and have been trading very well with room for expansion.  As a vegetarian myself, I am always pleased to see restaurants where everything is plant-based because it means there is no cross-contamination.”