Jongleurs wants investors to fund expansion plans

Comedy club chain Jongleurs has announced plans for more venues, a talent management agency, DVD distribution arm and a ‘mainstream TV programme’ as it seeks new investors.

Founders Maria Kempinska and John Davy only regained ownership of the Jongleurs name two years ago, following the collapse of Regent Inns, but now they are seeking an initial £500,000 to prepare the company to go public. Their aim is to be floated on the Stock Exchange’s Alternative Investment Market within 18 months.

In the past two years, Jongleurs has been scrambling to open new venues – helped by a £2million cash injection last year– and now runs clubs in 19 locations, mainly in nightclubs and bar chains such as Tiger Tiger and Oceana. Only Bristol and Nottingham are purpose-built venues.

In seeking the investment to ‘accelerate ambitions globally’, the company said it was Britain’s leading comedy brand ‘which nurtured the careers of successful comedians such as Peter Kay, Eddie Izzard, Harry Hill, Rhod Gilbert and Michael McIntyre’. However, the press release issued through its adviser Webb Capital didn’t help its case by misspelling Izzard’s first name as ‘Eddy’.

The company said its growth plans were to:

• Establish seven Jongleurs clubs over the next three years as a ‘high profile shop window’

• Expand the franchise network of 19 to 30 by 2014

• Develop the ‘On-the-Road' business which supplies comedians to theatres, hotels and corporate events

• Roll out a mainstream 30 minute TV programmes featuring newer stand-up comedians

• Create a retail DVD offering

• Develop a talent management division

• To build a website which ‘delivers product’ and ‘increases consumer awareness of Jongleurs throughout the world’.

 Jongleurs say its turnover this year will be £1.9million, which it hopes to boost to £10.3 million in 2013 and £22million by 2014. It did not provide figures on how much profit was made from these sales.

Kempinska said: ‘Since regaining control of the Jongleurs brand we have made positive steps in re-establishing the company in the UK's comedy sector.

‘We set ourselves a target of building a franchise network of 30 clubs and have already established 19.  The completion of this fundraising will catalyse our success to date.

‘Our management team is experienced with huge ambition and we are confident of achieving extraordinary expansion of the business in both the UK and overseas’.

Published: 12 Oct 2011