After it launched its crowdfunding campaign on November 22, Hopsters Brewery raised $615,000 (£485,000) in two weeks. More impressively, it raised $300,000 (£236,000) in the first two days of fundraising.
Co-founder of Hopsters, Lee Cooper says, “We give patrons a place they can enjoy on any occasion—brew-your-own for birthdays, or a drink and dinner on the weekends. There’s always a reason to come back to Hopsters. Since 2013, we’ve become a local favourite [in Newton, MA] where we’ve helped over 21,000 patrons brew their own batch of beer. Now, we’re opening a Hopsters in Boston’s Seaport District. After that, we plan to open 16 locations across the U.S. by 2022.”
CEO of Wefunder, NickTommarello added, “Hopsters is the fastest raise in Reg CF history, by far. Our goal is to get them [to] $1M (£0.79M) in under a month, before Christmas.”
Those investing on the Wefunder platform to Hopsters will be buying ownership in Hopsters estimated $4M (£3.16M) current valuation (pre-fundraising). Hopsters seeks a minimum $500 (£394.72) investment for one unit of ownership.
“80% of profits will go to investors’ pro-rata until 100% of your principal is returned. Hopsters will then distribute 20% of their profits every year to investors in perpetuity. Investors get paid once a year. If Hopsters is acquired or goes public you’ll receive a payout equal to your ownership percentage.”
Hopsters further elaborates its brand and how it intends to move forward, “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 (£1.03 million) in 2015 and served some of the country’s 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%.”
Cooper said of the franchise, “We think it’s safe to say we’ve nailed down the business model of your all-in-one craft brewery.”