Entrepreneurial duo bring café chain Mangobean to Widnes

An entrepreneurial couple from Warrington have launched a café business with backing from Liverpool investor MSIF.

John and Dawn Steer set up Mangobean at the Green Oaks Shopping Centre in Widnes with a £50k loan from MSIF, using the cash to hire staff and secure premises and equipment.

The five-figure funding formed part of a wider £220k investment that included a loan from HSBC.

The Mangobean brand is part of a franchise group comprising 14 other outlets across the UK. The café company offers a range of coffee blends, fresh fruit and veg smoothies, waffles and salads.

John Steer said: “I worked in IT in senior roles for blue chip companies for 25 years and I became increasingly disenchanted with the corporate world.

“I’d been thinking about running my own business for a while and started to research different business ideas. I love coffee and it is still a growing market in the UK so I began to look at ways in which I could start something.

“Becoming a franchisee has lots of benefits as there is a ready-made business model, supply chain and lots of support so I decided this was the best route for me to go down.”

He added: “I researched lots of different brands however Mangobean stood out as it has a great reputation for quality and that’s why I decided to go with them.”

Speaking further, John said the support from MSIF and HSBC has been “crucial” in bringing Mangobean to Widnes.

He continued: “It’s very difficult for people like me who haven’t got a business track record to secure funding at competitive rates and I don’t think we’d have been able to launch the funding without the loan.

“I’ve already secured another franchise in Stockport which will launch later in the year and I plan to open four in total.”

George Wright, investment manager at MSIF, commented: “There is a lower risk associated with start-up businesses that are part of a franchise. Mangobean has an excellent business model and is successful in its other outlets.

“Green Oaks shopping centre is a very popular location and gets lots of footfall so there’s lots of passing trade. We are very pleased to be supporting John and Dawn in their venture and wish them every success.”

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