Poundland recently celebrated its 25th birthday – and journey from a stall on Bilston market to one of the UK’s favourite places to shop for a bargain. Today, its shares are bought and sold on the LSE, and the business is valued at around £800m.
The simple premise of selling goods for £1 was a successful one, so perhaps it was only a matter of time before others tried to replicate that model elsewhere.
Step forward, Caffix, a new café in central London, where everything on the menu costs £1. It offers sandwiches, pastries and hot beverages all at the same fixed rate.
— Caffix (@CaffixLondon) June 2, 2015
The sandwiches and baguettes are sold in half portions and hummus, falafel and quinoa come in small pots, though the owners said this allows customers the opportunity to mix-and-match, while still getting great ingredients at high prices.
Some newbies for today, Thai noodle pot, & kale quinoa salad base, great to add some other pots on top. More to come pic.twitter.com/yUqLCaFUnK
— Caffix (@CaffixLondon) June 3, 2015
Caffix provides six different types of tea leaves, Italian-roasted coffee from Brazil Santons beans and some of the popular food options include home-baked banana bread and flourless muffins.
The café’s site said the team had used its “extensive experience” to develop a menu of freshly prepared food for breakfast and lunch, “including our own baked cakes”. By providing every item at a fixed rate of £1, it suggested customers would “have a greater choice in how much you spend on your meal and what it consists of”.
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Some may see this as another flash-in-the-pan attempt to stir up interest with a quirky idea, but owner Joe Kaye hopes the concept will take off, allowing further expansion across London and the rest of the UK. He also owns a coffee shop in Finchley and has worked in the food industry for seven years.
Caffix’s first location is Newman Street, Fitzrovia, and intends to buck the trend of “coffee shops under an ‘artisan’ theme” that then go on to “charge a high price”.
According to Allegra Strategies, over 1.7bn coffee cups are sold in Britain each year from over 18,000 outlets.
It said that while the quality of such offerings was “undisputedly high” the question remained as to whether “it is high enough to warrant the prices”.
Customer response so far has been positive, with bargain-hunters taking to Twitter to showcase their hauls.
— Charlie M (@Charlie628) June 2, 2015
Everything on offer for £1 just might do it though.
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