Massachusetts craft brewery Hopsters has successfully secured $1 million during its equity crowdfunding campaign on Wefunder. The company, which was founded by Lee and Karen Cooper, launched the initiative at the end of November and quickly captured its minimum $300,000 target goal in 48 hours.
As previously reported, the company describes itself as a craft brewery with brew-your-own-beer experience, bar, and restaurant all under one roof. Hopster’s stated it gives patrons a place they can enjoy any occasion. Since opening in 2013, the company has helped more than 21,000 patrons brew their very own batch of beer. It is now looking to open a new location in Boston’s Seaport District and plans to open 16 new locations across the U.S. by 2022. It was also revealed:
“Hopsters tackles today’s biggest trends with craft beer, a farm-to-table-menu, and ‘brew your own’ entertainment. We believe we’re the first scalable brand that combines all these features into a one-of-a-kind experience. Proof-in-point, we made $1.3 million in 2015 and served some of the countries biggest brands: Google, HP, John Hancock and many more. With our Boston location opening Spring 2017, we plan to double our revenue from corporate events and increase our margins to 85%.”
Recently, Hopsters’ initiative was dubbed the fastest Reg CF offering so far by WeFunder’s CEO, NickTommarello. The brewery noted that 80% of profits will go to investors pro-rata until 100% of their principal is returned. It will then distribute 20% of their profits every year to investors in perpetuity. Investors do get paid once a year. If Hopster’s is acquired or goes public, investors will receive a payout equal to their ownership percentage. Investor of Hopsters, Gretchen Wilson, shared:
“Although I’d always been a craft beer lover, I had never seen such a unique and engaging business model in the craft beer space. Sure, there are a lot of great craft beers, a lot of cool brew pubs that serve good food and even a few places where you can brew your own beer. But Hopster’s was bringing this all together, uniting craft beer and the community like it has never been done before! Concept is one thing. Successful execution is another. Being a true believer, I invested both money and time. For seven months, I worked alongside Lee and Karen to get Hopster’s up and running – taking it from a pre-renovation cool concept to an insanely successful business.”
She then added:
“Hopster’s continued success results from a carefully managed business fueled by talented and fun loving staff, all with a passion for sharing a truly unique craft beer experience. Add in their awesome beer and delicious food and you just can’t go wrong.”
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