Credit Mark Wallace. Used with permission under Creative Commons License.
Starting a new beverage manufacturing business takes more than a good beverage, it takes money. Selling ownership shares in your business is an attractive source of start-up funding, but it’s risky. When you take money from investors in exchange for ownership, two things are true. First, your investors expect you to deliver on your promises about the success of the business. Second, federal and state securities laws make you responsible for those promises.
What happens when you don’t deliver on your promises or you violate federal or state securities laws? Often you have to give investors their money back, and that’s the best case scenario.
I do not have any special insight into the situation at Mile Marker, but it got me thinking about some of the legal issues the may come up when a Florida brewery, winery, or distillery closes its doors. Continue reading →
There were no new brewpubs who joined the rank of active Florida brewpubs in March 2014. McGuire’s Irish Pub and Brewzzi again top the monthly sales rankings, but newcomer Tomoka Brewery and Fermentation Lounge had big months. Sailfish Brewing Company made the jump to the production brewery roles. It’s all on The Brewpub Report.
Notes about The Florida Brewpubs Report
We’ve made some improvements to our second installment of The Brewpub Report, including a new Ranking Change to show how each brewery’s monthly ranking compares to the prior month.
We’ve made some improvements with our second installment of The Breweries Report, including a new column, “Ranking Change” to show how each brewery’s monthly ranking compares to the prior month.
The Florida Breweries Report only reflects information about each breweries reported taproom sales, as reflected on the ABT’s monthly wholesale reports for March 2014, the most recent information available. The full production and sales (taproom and distribution) numbers for Florida breweries are not publicly available.
Because The Florida Breweries Report is limited to taproom sales, we’ve decided to include Anheuser Busch’s reported sales at its Jacksonville plant. Think of it as a control group.
The Florida Breweries Report reflects the active CMB-licensed breweries in Florida. The Florida Brewpubs Report separately tracks Florida CMBP-licensed brewpubs.
As Florida-made craft beer, spirits, and wine continue to grow in popularity, Florida beverage manufacturers may find it hard to keep up with demand. Every growing manufacturer must ask: Should we expand?
Deciding to expand involves answering a slew of questions, all while keeping existing production on track. This article reviews four primary questions a manufacturer must answer when thinking about an expansion.
It’s budgeting-season again for many business owners. As you’re putting together the budget for your brewery, don’t neglect to include legal expenses. A legal budget gives yourself advanced permission to call us for the legal needs of your brewery.
Your brewery’s legal budget should have two parts:
Breweries are often the creation of a core group of owners. One of the owners might be the mad-scientist brewer, who loves to create new style-busting beers. Another might be the marketing genius, who believes that an beer can be sold with the right branding and marketing. Still another might be the financier, who knows a good business opportunity when he or she sees it. Bringing these personalities together to create “The Brewery” is a wonderful thing.
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To help owners come together and stay together, they need an Ownership Agreement. Not only is this good business practice, but it’s also required by the TTB as part of the Brewer’s Notice licensing process . Ownership Agreements go by different names–Operating Agreement, Shareholders Agreement, Partnership Agreement, Buy-Sell Agreement–but they all have a common goal: Provide a clear roadmap for the brewery owners to jointly manage and grow the business and to minimize the impact of conflict and adversity among owners.