With the Ramzy Group and his own successful formula, he now operates 35 catering businesses in the capital. Next year, entrepreneur Ramez Ramzy (31) wants to raise 100 million euros through an investment round for further growth. In conversation with a hospitality tycoon with a dream.
When accountant Bahaa Ramzy (59) came to the Netherlands from Egypt in 1989, he failed to find work within his field. After several jobs, he changed tack in 1993 by taking over snack bar Funny Duck, near Amsterdam's Rembrandtplein entertainment district.
Over the years, that one fast-food business grew into a catering portfolio of now 35 businesses, mostly restaurants and all located in the capital. After 30 years, Bahaa thinks it is enough and hands over the day-to-day management to his children, Ramez and Katrina. The latter, as Director Legal and Human Resources, focuses on the internal ins and outs, while brother Ramez, as CEO, is the Ramzy Group's new signboard. A fighter, is how Bahaa describes his son. But above all an entrepreneur with an unstoppable drive, determined to turn the family business into a true empire.
Ramez Ramzy has achieved exponential growth
,,When I joined the management team of Ramzy Group 12 years ago, we had 10 cases. Since then, we have experienced exponential growth, especially in the last five years. During the Corona pandemic, several hospitality entrepreneurs gave up. They were waiting to see what would happen, saw turnover and their revenue model disappear and were eager to get rid of their business. We saw a huge opportunity at that very moment and took full advantage of it."
,,With success, because with 35 businesses we now have a nice and diverse portfolio within the Amsterdam catering industry. Thanks to our unique formula, which allows us to save a lot of space and staff through one large central kitchen, we can keep costs low and thus achieve nice profit margins. Every year again."
More than just hospitality
That further growth is not just in hospitality, Ramez is also very much looking at other business sectors. Ramzy Group's real estate investments, for instance, are still doing well, especially when it comes to acquiring hotel and catering properties that they then let be operated by new tenants. For the next few years, the focus is still entirely on Amsterdam, but expansion abroad is on the cards. After all, Ramez is convinced that their formula also works in other European capitals.
We manage a growing real estate portfolio and invest in tech startups.
Ramez Ramzy Ceo Ramzy Group
This presents opportunities, but also risks
,,My father has a greatlegacyleft behind and we cherish those. But, we are now much more than just restaurants. Our goal is not just to run more restaurants, we are increasingly focusing on other business activities with the income from those. For instance, we manage a growing real estate portfolio and invest in tech startups, which develop software for applications in the hospitality industry, for example. That offers opportunities, but also risks. That's what being an entrepreneur is for. Investing in your people is crucial, so we put a lot of focus on who the business leaders of our business are. We therefore make him or her a partner in the company, so that we all look ahead with our noses in the same direction."
Investment round with like-minded investors
Currently, Ramzy Group is still operating completely autonomously, and the company is doing well. With a margin of around 20 per cent, the revenue model is in good shape, but much more liquidity is needed to realise Ramez's further growth ambitions. Partly for this reason, the company is looking at external investors interested in becoming part of the success story.
If you want to grow fast, you just need a lot of money. That is why we are looking for external partners
Ramez Ramzy Ceo Ramzy Group
,As a family business, we are immensely proud of the fact that we have set up and grown our business with our own hands. But you also have to be realistic: if you want to grow fast, you just need a lot of money. That is why we are looking for external partners. Not private equity firms, which will step in quickly, but will also sell off the lot after so much multiplier. We are looking for, one, maybe two or three like-minded investors who share our long-term vision and go along with a ten-year plan. Investors who, besides money, can also share their network with us to open doors, for instance abroad."
Building an empire with 100 million in your pocket
For the period ahead, plans are already broadly clear. Due to recent investments, the first part of 2024 will mainly revolve around consolidation, after which the second half of the year will be used to hold talks with potential investors. The goal for 2025 is big: through external financiers, Ramez hopes to raise a total of EUR 100 million for further growth and expansion abroad. A lot of money, but money that will allow Ramez to make his dream of an empire come true once and for all. Backed by data and with a cashflow-positive business behind him, he is confident that that next step will come, and succeed.
,,Amsterdam is our base, the cradle where we have proven that our formula works. We continue to invest there as well. With the brand-new Ventuno Skylounge on the 21st floor of the Ruby Emma Hotel, we recently opened our newest gem. A high-end Italian restaurant inspired by the New York roaring twenties, with an un-Dutch luxury concept and the best view in town. Not a popie-jopie location where it's see and be seen, but truly a place where like-minded people meet."
Our podcast studio is yet another foray into a different industry,
Ramez Ramzy Ceo Ramzy Group
that gives me a lot of energy
,,One floor above that restaurant we are currently having a podcast studio built, the highest located podcast studio in the country, where we can roll out new formats ourselves, but also rent out the space to parties likeBNRorQuote. Yet another foray into a different industry gives me a lot of energy.
Royal Ramzy Group
And that move to another European capital? ,,That will follow, I'm sure. And after that? Well,the sky is the limit, so we are going for that. We are the first generation after my father and, of course, we want to do even better. But we also want to pass things on to the next generation as well as possible later on. The goal is definitely to still exist in 100 years, as Royal Ramzy Group. Tell me, that doesn't sound wrong, does it?"
