Koykan – Company & Model Overview
koykan – looking forward, 2026 and beyond Koykan – company & model overview A European street-food brand that grows through local partners and a coordinated capital structure Who we are, what we do and how we grow stay hungry for more Who we are A proven operating system across four European markets Koykan runs fresh street-food restaurants in shopping-mall and high foot traffic locations across four European markets. Each kitchen follows the same standard and the menu performs consistently across borders. Behind the restaurants sits a complete system: a defined operating model, a franchise framework, a supply chain and digital infrastructure. 10 restaurants 9 open, 1 being built 4 EU markets Germany, Czechia, Slovakia, Croatia Proven unit economics per restaurant Profitable at the restaurant level today Koykan’s strength is the system behind the restaurants. The next sections show how that system fits together. What we do Koykan owns the brand; Partners and Investors back the restaurants Koykan owns the brand, the recipes and the complete operating system, which it licenses to each restaurant for a royalty fee. Most restaurants are built and run by an operating partner, mostly financed by investors and owned by all three parties in predefined proportions. Koykan owns the brand and system Owns the brand, recipes and standards Licenses it to each restaurant for a royalty fee Holds a stake in each restaurant company Partners and Investors back the restaurants Operating Partners build and run them Investors and Partners provide the capital Owned by Investors, Koykan and Partners What Koykan owns The full system behind the restaurants, licensed to each one for a royalty fee The brand and trademarks The recipes and the menu The operating model and standards The kitchen and production technology The supply chain and procurement The franchise platform and know-how The digital backbone Koykan does this through three parts that work together. Three parts, one system The Brand Company, the Partners and the Capital Engine Together the three parts form the Koykan Capital and Expansion Platform, Koykan’s programme for capital, partners and expansion. The Brand Company Owns the brand, the recipes and the operating system and sets the standards The Partners Local operators who build and run the restaurants in their own regions The Capital Engine Finances each build and holds the proven restaurants for the long term The Brand Company sits at the centre of the whole system. The Brand Company Koykan TopCo, the company that owns the brand and the system Koykan TopCo holds the brand, the recipes, the operating model and standards, the kitchen technology, the supply chain, the franchise platform and the digital backbone, and licenses them for a royalty fee. Koykan TopCo Owns the brand, the recipes and the system Sets the operating standards across the network Earns a royalty fee from each restaurant Keeps a part-ownership in the restaurants Brand & standards Develops the brand, the recipes and the system, and sets the standards Franšíza Finds and signs the franchise Partners and manages the agreements and the brand Development Opens a few own restaurants to enter new markets and test; kept to a small share The Brand Company sets the standard. Partners build and run the restaurants in each market. The Operating Partners Experienced local operators who develop a defined area Partners take a region and grow it under the Koykan brand. The operating profile is the same across the three configurations; they differ in how the area is financed and how it is structured. preferred AFP Area Franchise Partner Funds their own area Owns the restaurants Holds area exclusivity AOP Area Operation Partner Brings part of the capital Capital Engine co-invests alongside Earns equity by performing MFP Master Franchise Partner Takes a country or region Used where it is the norm Runs a sub-franchise network Koykan opens a small number of its own restaurants to establish a new market, then hands growth to partners. Corporate restaurants stay a small share of the network. Each restaurant needs capital to build. The Capital Engine provides it through four pillars. The Capital Engine Four pillars of capital – two back the company and two finance individual restaurants The Capital Engine brings capital into the system through four pillars, each with its own instruments, timing and type of investor. Two pillars back Koykan as a whole and two finance and hold individual restaurants. Equity A share of TopCo How it works A direct share in the Koykan brand, the franchise network and the royalty stream. Who it is for Long-term investors backing the company as a whole Growth Capital for new restaurants How it works Funds a batch of new restaurants and shares in the value created as they open and reach steady performance. Who it is for Investors seeking development upside over a defined period Yield A share of proven restaurants How it works Holds a share of restaurants that already perform and receives the cash they produce. Who it is for Investors seeking steady, recurring income Dlhopisy Lending at a fixed return How it works Lends to Koykan and receives interest, with the principal repaid at the end of the term. Who it is for Investors who prefer a fixed return over a set term These pillars meet in the path that each restaurant follows. How a restaurant moves through the system From the first day to a proven business 1. The brand TopCo licenses the name, recipes and system for a royalty fee 2. The build Growth capital or the partner funds the build-out 3. The opening The partner runs it; revenue and profit settle over the months 4. Steady state Once it is steady it moves to the yield pillar or is sold to a partner Each restaurant is a separate company. The brand, the build capital and the local operator each play their defined part as it moves from opening to a proven business. As each restaurant reaches steady performance and moves to the yield side, the capital that built it returns to finance the next batch. The capital cycle Each completed restaurant funds the next The cycle larger each turn Build finance new restaurants Prove reach steady profit Transfer into the yield side Return capital funds the next batch When a restaurant moves to the yield side, the way the transfer is structured keeps most of the value created in development intact. The cycle suits two different types of investor. What growth and yield investors can earn The two positions the capital cycle creates for investors The growth and yield pillars suit different investors. Some prefer the higher upside of building new restaurants; others prefer the steadier income of proven ones. Growth investors Back new restaurants and share the upside Higher upside from building and stabilising new restaurants over a defined period Yield investors Hold proven restaurants and receive the income Steady income recurring cash from restaurants that already perform Repeated across many restaurants and markets, this builds a European network. How we grow From nine restaurants to a European network Growth comes from adding new partners each year, each opening a steady stream of restaurants, with a small number of corporate openings on top. 9 2026 in operation 145 2030 target 300 2032 target 790 2036 target The capital that supports this growth arrives in defined steps. The capital journey How investment in Koykan TopCo, the company that owns the brand, grows over time Investment in Koykan TopCo, the company that owns the brand and the system, arrives in defined steps. Each step brings in larger investors at a higher value as the network grows. Strategic round Committed backers take a stake in the company Private equity A larger investor enters later, at a higher value Public listing The long-term destination as the network matures Koykan grew its first restaurants with the help of bondholders – investors who lent the company money through bonds. As those bonds come due, each bondholder can move into the equity, growth or yield pillars instead of simply being repaid. Koykan’s reach extends across Europe and into selected markets beyond it. Where we go The European Union, then selected markets beyond The whole European Union is the most important horizon The immediate focus is where Koykan is the strongest – the region where it already operates and the markets around it. Already operating Germany Czechia Slovakia Croatia Neighbouring markets Austria Hungary Plus selected markets beyond the EU, each entered on its own terms: United Kingdom Switzerland Norway Ukraine Serbia Albania Middle East In one line Koykan owns the brand and the system, partners build and run the restaurants and the capital that builds each restaurant returns to finance the next. 1 2 3 4 5 6 7 8 9 10 11 12 Koykan Capital and Expansion Platform Company and model overview – who we are, what we do and how we grow koykan – stay hungry for more