Flat Iron

About Flat Iron

Flat Iron operates in the casual dining sector, challenging the traditionally expensive steakhouse market by making quality steak accessible to a wider audience. The company was founded in 2012 by Charlie Carroll, who, after working in the restaurant industry, identified a gap between high-end, costly steakhouses and lower-quality, mass-market options. His journey began with nine months of self-taught butchery to understand lesser-known beef cuts, leading him to focus on the 'flat iron' cut from the shoulder blade.

The business launched as a pop-up above a Shoreditch pub, quickly gaining popularity for its simple proposition: a flat iron steak for a notably affordable price, initially £10. This success led to a permanent site in Soho the same year. The business model is centered on a focused menu, which reduces operational complexity and allows for high-volume service. By concentrating on a secondary cut like the flat iron, the company gains significant buying power and expertise. Revenue is generated directly from food and beverage sales in its restaurants. The target clients are general diners seeking a quality steak experience without the formality and high expense of a traditional steakhouse.

The core product is the signature Flat Iron steak, served in a casual, no-frills environment. The menu is deliberately concise, featuring the main steak, a few specials, and a small selection of sides and sauces. This simplicity is a key feature, enabling fast turnover of tables and maintaining an accessible price point. The company has also demonstrated a commitment to quality by establishing its own herd of cattle in North Yorkshire to ensure consistency and traceability. Over the years, Flat Iron has seen significant growth, expanding from its London base to other UK cities like Cambridge, Leeds, and Manchester. The company has attracted substantial investment, including a £10 million stake from Piper in 2017 and a majority acquisition by McWin and TriSpan in 2025, which has fueled its nationwide expansion.