Saturday, January 25, 2014
Introducing Filigree Brewing Company!
Filigree Brewing Company
Filigree Brewing Company will be an LLC (Limited Liability Corporation), owned by Jimmy Stockwell, Sean White, and investors. Sean and Jimmy will be the primary business managers, with Sean overseeing brewery operations, and Jimmy overseeing sales and finances. The business of the company will be to brew, and sell beer on-site in the taproom, as well as to retail establishments, bars, and restaurants. The brewery will be located at 8675 Armitage Road within the city limits of Athens, Ohio. The location has been picked to optimize ease of travel from the city by car or bicycle, while providing a “farmhouse” ambiance, outdoor space for customers and events, and areas to grow fruit, hops, and herbs for brewing.
To brew, sell, and share some of the finest beers in the region, with an emphasis on farmhouse-style ales and barrel-aged sour beers. To create an environment in which to drink these beers that evokes a rustic and natural feel. To develop craft beer awareness in the southeast Ohio area through education of our staff and customers. To treat our employees with respect, offer competitive wages, and allow them to be a part of the creative process. To make money for ourselves and our investors, and to do so in an environmentally sustainable way. To contribute to the local economy through our support of other local businesses and agriculture. Above all, to always push ourselves to make better beer, do better business, and find our own happiness and fulfillment while doing so.
Filigree Brewing Company will not be a “large” brewery, even by micro-brewery standards, but will rather find strength and cache in its small size. We will start production at 750 barrels per year, and top out at 1,500-2,000 barrels per year by year five. Nevertheless, our financial projections show that this size of brewery can be quite profitable, especially when brewing beer styles that command a higher price per volume, like saisons and barrel-aged sour beers.
Funding and Projected Earnings:
Business startup costs will be $600,000, which we will be sourcing through our own investment ($40,000), private investors ($160,000), and a bank loan ($400,000). This will be sufficient for startup and operating costs until we can generate cashflow. We intend to repay our bank loans over a 10 year period.
*Assets do not include equity in the land or appreciation thereof
**Book value is calculated as the total value of the company minus outstanding debts. Again, excluding the value and appreciation of the land.
Return on Investment:
Investors will own stock in the company which they can sell at market value at any time. Starting in the 4th year of business, annual dividends will be paid to stock owners. Other fringe-benefits include a 20% taproom discount on all beer, and an annual company party.