Didsbury entrepreneur to open bar and wine shop with £100k funding

A new independent bar and wine shop is launching in Manchester with the help of a six-figure investment.

Sip will create 10 full- and part-time jobs when it opens on Burton Road in Didsbury later this month, using a £100k loan from Business Finance Solutions (BFS).

The company’s owner, Nick Yates, is a Didsbury resident with more than 25 years’ experience in the restaurant and wine business.

Sip will offer a range of wines alongside a locally sourced menu. Its Enomatic dispensing system will allow customers to sample 24 wines or purchase large by-the-glass measures of a further 50 brands.

It addition to its retail business, Sip will feature an ecommerce function with free local wine delivery and sell wholesale to corporate and restaurant clients.

Nick said: “Securing the funding from BFS enabled us to refit our premises and to invest in technology like the wine dispensing system that will help to build Sip’s reputation as a real destination venue.

“Their support has also meant that we could fast track other valuable revenue generating streams including our online wholesale arm, enabling us to establish a presence in the market before we’ve even opened our doors.”

He continued: “Having worked with restaurants and retailers all over the UK, when it came to creating my own business I wanted to combine the range and specialism of traditional wine shops with the relaxed and welcoming environment of a bar.

“We want to make exploring and enjoying wine a richer and more relaxed experience as well as delivering an interactive retail experience that offers information and inspiration for a night out or an evening in.”

The head of lending at BFS, Roger Seddon commented: “Our business loans offer a great way to access both the funding to help start up your dream business and the practical knowledge and expertise that our business advisors provide.

“Nick has an impeccable history in the trade and this new hybrid concept, already increasingly popular in London and across Europe, is being hailed as the future of independent wine retailing, something that we look forward to seeing find a place in Didsbury’s thriving bar and restaurant scene.”

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