The founder of Cornish Bakery, Steve Grocutt, is celebrating the unveiling of his new Gunwharf Quays site, the second of its new RISE by Cornish Bakery concepts. This latest venture marks a significant departure from the company’s traditional baked goods offerings, as it introduces small plates dining and alcohol for the first time.
Grocutt’s journey in retail and hospitality began in the early 1990s, when his dad suggested he open a pasty shop in Mevagissey, Cornwall. He recalls the first summer being a learning experience, but by the next year, they had refined their approach and expanded to multiple sites in tourist hotspots across the UK.
Early Days and Expansion
As the business grew, Grocutt innovated with the flavors of his pasties and recognized the value of bringing coffee into the model. Today, coffee is the best-selling item across the group. He also built out the food proposition beyond pasties, introducing other baked goods into the mix, which now account for less than a third of overall sales.
In 2019, Grocutt concluded that the UK was ripe for bakeries to be brought back to the high street. He envisioned modern bakeries that would offer coffee, Cornish pasties, cakes, and buns. Each site would have its own bakery, with some goods produced from scratch and others completed by ‘bake-off’.
The open-plan bakeries enable customers to see the baking in action, creating a unique and uplifting vibe. Grocutt has abandoned the identikit approach, instead opting for bespoke, flexible environments that showcase and optimize the company’s bigger spaces and experiential opportunities.
RISE Concept and Expansion
The RISE concept, which has been introduced at the Gunwharf Quays site, offers a brunch and all-day small plates menu, as well as Cornish beers and wines. The dishes are cooked from scratch and served until the unit closes at 8pm. Grocutt is confident that the RISE concept can be grown and incorporated into smaller units, with the forthcoming Shrewsbury store set to feature some brunch items and a potential bar area.
Grocutt had considered selling the business last year but was deterred by the uncertainty in the marketplace and the strings attached to the offers he received. He is committed to maintaining the company’s independence and avoiding the pitfalls of fast growth and sell-on strategies, which can lead to sub-par performing outlets.
With the business still under his control, Grocutt is focused on legacy and building a sustainable model that prioritizes people and culture. He believes that a happy team leads to happy customers, which in turn drives results. The company has achieved 30% year-on-year growth, with 7.9% like-for-like sales growth, and Grocutt is determined to maintain this momentum while staying true to the company’s values.
The Gunwharf Quays site, which spans 3,500 sq ft over two floors, features an orangery, outdoor terrace, first-floor balcony, and dedicated space for community baking and barista classes. The site has become a top-performer at the shopping center, and Grocutt is eager to build on this success as he continues to expand the RISE concept and refine the Cornish Bakery model.
The RISE concept has been well-received by customers, with the Betws-y-Coed site performing strongly after just a few months of trading. Grocutt is confident that the concept can be replicated in other locations, and he is already exploring opportunities to incorporate elements of RISE into smaller Cornish Bakery units.
Cornish Bakery’s sales of £36.4 million and EBITDA of £4.5 million demonstrate the company’s success. Grocutt is determined to build on this momentum as he continues to grow and evolve the business. The company’s 1,000-strong team is a key factor in its success, and Grocutt is committed to maintaining a happy and motivated workforce as the business expands.
Grocutt’s focus on legacy and building a sustainable model is reflected in the company’s 75% NPS score, which measures customer satisfaction. The company’s commitment to using high-quality ingredients and creating a unique and authentic experience for customers has helped drive this success, and Grocutt is eager to build on this momentum as he continues to expand the business.
At the Gunwharf Quays site, customers can enjoy a range of dishes, including small plates and brunch items, all made from scratch. The site also features a selection of Cornish beers and wines, adding to the unique experience. Grocutt’s vision for the RISE concept is to create a space where customers can relax and enjoy good food and drink, while also providing a unique and uplifting atmosphere.
Future Plans and Expansion
Grocutt’s plans for the future include continuing to expand the RISE concept, while also refining the Cornish Bakery model. The forthcoming Shrewsbury store will feature some brunch items and potentially a bar area, demonstrating the company’s willingness to adapt and evolve its offerings.
