Investment opportunity
Europe eats out. The market is there. Chains are taking it.
Fast, healthy and affordable food, known as fast casual, is one of the few markets to come out of the past five years larger than it went in. Germany alone now spends EUR 88.6 billion a year on eating out, 7% more than before the pandemic. Within that market, chains are growing faster than everyone else.
Koykan is building such a chain across Europe with local partners, and gives investors a place in the expansion. In a few minutes of reading, you will see why the sector is attractive, what the economics of a single restaurant look like and how the investment opportunity arises.
The German market is worth
EUR 88.6 billion a year
Chains account for
41% of revenue
Chains are growing
4x faster than independent restaurants
Chains hold
45% of the market in Europe, 78% in the US
Lunchtime in a shopping centre. This is the market this page is about.
A growing sector, and within it the segment growing fastest
Restaurants are a business everyone understands, but few know what it looks like from the investment side.
Fast casual sits between table service and traditional fast food, and draws guests from both.
Three figures explain why this market is growing.
A growing market
Out-of-home dining in Germany was worth EUR 88.6 billion in 2025, 7% more than before the pandemic. Chains account for EUR 36 billion of that, or 41% of revenue and 47% of all visits.
Chains grow four times faster
In 2025, chains in Germany grew by 4%, while independent restaurants grew by 1%. The same trend holds across Europe, and at a faster pace than in the United States.
Europe is halfway to the US level
In the US, chains hold 78% of the market; in Europe, only 45%. That gap is space that chains in Europe are only beginning to fill, and this is where the investment opportunity opens up.
Sources: Circana, April 2026. German data: Bundesverband der Systemgastronomie, 2025.
Lunchtime in front of a Koykan restaurant in Munich (Germany). This is what is being built, and what the capital is invested in.
The menu, recipes and suppliers come from Koykan and are the same in every country.
The economics of a Koykan location
Koykan builds fast casual restaurants in this market. The whole model rests on a single figure that repeats. These are the actual figures from our locations.
EUR 400,000
to build one location
EUR 500,000–1,250,000
annual revenue of an established location
> EUR 90,000
annual EBITDA per location, after all operating costs
After opening, a Koykan restaurant earns steadily for 12 months, and the whole cycle, from investment to sale, takes 18 to 30 months. Repeat that figure twenty times and you have a network. Repeat it seven hundred times and you have a European chain.
How does Koykan build a network from a single restaurant?
The same cycle repeats for every location, in every country.
01
Build
Capital goes into a new location, which a local operating partner builds.
02
Ramp-up
The restaurant earns steadily for 12 months, with independent verification of the results.
03
Sale
Once the restaurant is earning steadily, it is sold at a price set in advance.
04
Return and a new cycle
The proceeds of the sale are returned to investors, and the network moves on to build the next locations.
Koykan restaurants are built and run by local partners who already operate restaurants in their own market. Koykan provides the brand, menu, procurement, system and technology, and gives investors a place in every cycle.
Where does the investor come in?
Four ways to invest, each for a different profile and a different appetite for risk.
CHANNEL 01
Equity Capital
Co-ownership of the Group behind the entire network.
CHANNEL 02
Growth Capital
A stake in the company building new locations across Europe.
CHANNEL 03
Yield Capital
A stake in a portfolio of restaurants that are already earning.
CHANNEL 04
Bonds
The simplest way in, with a fixed interest rate.
Where next?
COMPANY
Why Koykan?
The model, network and team behind everything described on this page.
INVESTING
All opportunities at a glance
A comparison of the four channels in one place, with thresholds and terms.
GROWTH
Building with partners
How the network expands through local operators and what they bring.
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