Matchbox sets sights on national expansion


Homegrown D.C.’s chain of casual restaurants Matchbox, which Ernst & Young named one of its Entrepreneurs of the Year for 2014, is in the beginning stages of creating a big national expansion plan. The Ernst & Young Entrepreneur Of The Year Award gives recognition to entrepreneurs who head market-leading companies that make communities, country and the world better. Matchbox wants to obtain $11 million from private investors to fuel a national expansion, with a goal of forty-eight locations by the year 2020. The group (which has already raised $9 million) is launching a website Friday to entice qualified investors to help reach its goal. Potential investors must be willing to contribute up $50,000, and, as per the SEC, make at least $200,000 in income with a net worth of $1 million. The chain got its start in D.C. in 2003, and has expanded to twelve locations, eleven of which in are in the Washington region. Eight additional locations are on the way, including in Florida and Texas.



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