Buddy wants me to invest in a MFH brewpub
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Date: March 22nd, 2017 10:21 AM Author: Ebony Hell Pistol
Thoughts?
They'd brew onsite and sell to people in the taproom along with bar food. They'd try to self distribute on site and via local delivery
I'm skeptical
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32887745) |
Date: March 22nd, 2017 10:23 AM Author: Territorial Dopamine Temple
they say owning a restaurant is like standing in a kitchen tearing up $100 bills
I suspect this would probably be the same
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32887754) |
Date: March 22nd, 2017 10:24 AM Author: snowy cocky weed whacker
literally no chance this works in MFH
you'd need to start in queens or LIC and prove your concept first
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32887761) |
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Date: March 22nd, 2017 10:25 AM Author: Ebony Hell Pistol
Explain
Rent costs just too high?
I am smart on technology and financial cos. I know literally nothing about these types of companies other than restauarants are awful investments
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32887767) |
Date: March 22nd, 2017 10:30 AM Author: orange school cafeteria puppy
I know guys who are basically the first to do it in the center of Kiev and unless they have a complete year of fnancial runway, they will certainly fail.
after 12 months there's a 60-70% chance they fail
think about how many beers you need to sell in a month to pay the rent and salaries. it's probably crazy high
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32887794) |
Date: March 22nd, 2017 10:33 AM Author: Beady-eyed fishy pisswyrm
You need way too much space to brew beer in mfh. Rent would be insane. Consider that brewpubs are barely viable in cities like Denver and Seattle, where you might stay in business but no one is making actual $
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32887811)
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Date: March 22nd, 2017 10:42 AM Author: marvelous ultramarine university international law enforcement agency
couple issues:
does your buddy have experience brewing? if not you'll have to find a master brewer with beer recipes or pay someone to develop beer recipes
running brewery and restaurant is more or less running two completely different businesses in the same building. if buddy does not have experience running either fucked.
the reason there are not many brew pubs in MFH is you have to pay for all the square footage for the fermentation tanks, grain and hop storage etc. My recollection is that the way to go on that is have some brewed on site but contract brew for the rest and then ship it in to cut down on square footage. I think that is what heartland (think that's the name the brewery in midtown) does.
Check out brewing business with tim Nichols podcast to get an idea of running a brewery and a brew pub. might help you get a better feel for what you'd be getting into
Edit:
Also check out book by the founders of Brooklyn brewing. They have a big chapter on distribution in MFH and what a cluster it is
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32887853) |
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Date: March 22nd, 2017 11:06 AM Author: Ebony Hell Pistol
Thx
Let's say rent of $70K per month (figure i've been given). $840K per annum
Supply of 3000 bbl a year (another figure I've been given). Each bbl = 250 or so pints. Total. of 750K pints.
Assuming demand fully takes down your supply, at $8 a pint you'd generate $6M of revenue. Gross margins of probably 80% or so. So $4.8M gross profit. Rent takes 840K so call it $4M pre salaries and other opex.
I mean that rough math doesn't seem too nuts but that's me spitballing
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32888003)
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Date: March 22nd, 2017 11:15 AM Author: Ebony Hell Pistol
Fair
Also assumes full demand which is still tbd
Have to advertise etc as well
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32888082) |
Date: March 22nd, 2017 10:50 AM Author: Balding Chapel
There is a reason breweries are all in shitty areas of ton, you need a lot of room and rents in nice area are way to high to sustain the relatively low margin of selling beer on site and the bsolutely razorthin margin of selling to distributors (who take a cut before selling to stores)
Sounds like he wants to open a restaurant that is also a brewery which is a terrible idea. If he wanted to do a brewery properly he would find thr cheapest shitty real estate posible, focus on making good beer and winning the market, then open up a public drinking area on the side. Focusing on restaurant first and brewing second is a recipe for getting squish like gtape
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32887895) |
Date: March 22nd, 2017 11:45 AM Author: aqua idiot
I cosign everything said above. Also, aren't liquor licenses a massive shitshow to get unless you have pull with the city council or whatever authority is in charge of dispensing them?
A brewpub could work in a developing/gentrifying area, like Astoria (quite possibly a bad example because of the Astoria Beergarden) or Inwood/Washington Heights/Hamilton Heights (which is technically MFH) or Rockaway Beach. Places with a captive audience. In most of MFH you're competing against all the other bar/restaurant options.
Then there's the issue of promotion. If you don't have a big name that helps to give this brewpub buzz, you're going to need one hell of a marketing campaign to get people in the door.
Does this buddy of yours have experience in food and bev?
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32888321) |
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Date: March 22nd, 2017 12:12 PM Author: Ebony Hell Pistol
Nah. Former finance guy flameout partnering with a brewmaster
I'm going to meet the brewmaster with him, try a few beers, and give my regrets
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32888538)
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Date: March 22nd, 2017 2:00 PM Author: aqua idiot
I just did a quick Yelp and there seem to be several brewpubs in MFH, and even more craft beer places like George Keeley's or Pony Bar that have a ton of random craftbrews on tap that are displayed on some type of screen on top of the bar, as well as places like Ginger Man or that beergarden by Grand Central.
Something like this could work in an up-and-coming neighborhood where people don't have that many local options quite yet. Think captive audience.
What are you defining as a "brewpub"? A place that brews its own beer and sells it?
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32889492) |
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Date: March 22nd, 2017 2:38 PM Author: overrated navy black woman
As a huge beer fan I see little appeal in visiting this type of brewpub, as opposed to a craft beer bar that simply sells a wide variety of beers from various brewers. Of which there are many in MFH.
Why would you want to go to what is basically a restaurant in which your drink choices will be confined to untested brews from a largely unknown brand? Brewery tours are cool but they're largely a one-off thing and not something you seem to be contemplating here.
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32889809)
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Date: March 24th, 2017 11:42 AM Author: Ebony Hell Pistol
Ljl I just got financial projections. This guy thinks he can make 40% operating margins with a brewery in manhattan
Spending next to nothing on sales and marketing
JFC now I know why he flamed out in finance
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32906124) |
Date: March 24th, 2017 12:37 PM Author: metal office
I have a hard time understanding the appeal of brewpubs now that microbrews have proliferated to such an extent that a wide selection of just about any type of beer imaginable is easily accessible to everyone. First, beer produced by prewbubs is almost never as good as commercially available alternatives. Second, I don't want to drink new beers while I am eating. Third, it is very difficult for brewpubs to retain competent brewmasters. If the brewpub's brewmaster is good, he will get hired away by a microbrewery, who will be able to pay him much more than what he can earn at a brewpub.
If your buddies want to launch a beer-centric concept, it should involve having a wide selection of microbrews on tap. There have been a couple of these types of establishments open up in my city, and while they have been a less than perfect implementation of the concept, they appear to be very successful.
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32906530) |
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Date: March 24th, 2017 12:40 PM Author: aqua idiot
"If your buddies want to launch a beer-centric concept, it should involve having a wide selection of microbrews on tap. There have been a couple of these types of establishments open up in my city, and while they have been a less than perfect implementation of the concept, they appear to be very successful."
You don't live in MFH, do you?
I think this place (a microbrew/craft beer bar) could succeed in certain parts of MFH that are gentrifying and subway-inconvenient (certain parts of the UES and Harlem, for example). They kind of did this with ABV, a pretty solid wine bar that's in the upper 90s which succeeds because it's the only place of its kind up there. No one from outside the neighborhood will travel to that neighborhood to check it out, but the captive audience keeps that place in business.
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32906552) |
Date: March 24th, 2017 12:50 PM Author: rebellious silver cuckoldry
I have a wine version of this as a client. Its a no go. And they are in a lower end market. Rents will destroy everything. Labor is a shitshow. Product loss and costs of goods sold make no sense.
Just no. Trust me.
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32906646) |
Date: March 24th, 2017 1:21 PM Author: Idiotic Nofapping Location
how does your buddy completely flame out of finance and decide this is the next step?
is there not a chill corp gig or something to move onto?
this scares me about finance, you just randomly get pwned at 30
(http://www.autoadmit.com/thread.php?thread_id=3560611&forum_id=2#32906903) |
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