Hawksmoor - Commercial Due Diligence
About the brand
Hawksmoor is one of London’s leading premium steakhouse restaurant chains. Its high quality steak offer holds aspirational appeal amongst diners of all backgrounds.
Hawksmoor was started in 2006 by two entrepreneurs, Will Beckett and Huw Gott, with the aim of creating a distinctly British steakhouse, providing consistently high-quality steak and outstanding customer service. A fifth Hawksmoor restaurant was opened in Knightsbridge in the summer of 2014 and in spring 2015 the company successfully opened in Manchester, its first restaurant outside of London.
Graphite Capital approached Pragma to complete a thorough commercial due diligence programme of consumer and market research to understand Hawksmoor’s position within the premium dining market, its competitive advantages and areas of opportunity, both in the UK and internationally.
WHAT WE DID
- Detailed desk-based research into the London dining market
- An assessment of the potential for the Hawksmoor brand and concept to launch internationally was also undertaken, conducting a thorough review of three potential foreign cities for the brand to explore
- Three quantitative consumer surveys: an online survey, used to validate Hawksmoor’s market position; a database survey, designed to test visit frequencies and behaviours; and an exit survey, capturing feedback immediately after visit
- Pragma used focus groups to explore Hawksmoor brand perceptions and to capture feedback on the dining experience and possible improvements
Pragma’s detailed analysis and findings informed Graphite Capital in its backing of a management buy-out of Hawksmoor, providing additional capital for the brand to grow, both in the UK and potentially internationally.
Since Graphite’s investment, the company has launched a new neighbourhood restaurant concept, Foxlow, with an initial site in Clerkenwell followed by a second in Stoke Newington.