Until now we’ve been using these blog posts to tell our story but this post is about our future plans for Barefaced Brewing.
If you’ve read up until this point you’ll know that our business has always been a project that Nick and I started with passionate but cautious optimism. Looking back, we started with much more enthusiasm than knowledge but have managed to build something we are extremely proud of, through will power and determination, coupled with the help of many people. Before the project Nick and myself were managing craft beer bars, The butchers Dog and Brewdog Edinburgh respectively and had been involved in hospitality since our early teens while Matt was finishing a brewing degree In Norwich.
The business was started with our own money (about £12,000 in all); a small enough amount that if we either hit too big an obstacle to overcome or were laughed out of the brewing world it wouldn't financially affect anyone but us. This amount was actually beneficial in the beginning. It forced our full attention to be directed at keeping a tight rein on the finances and pushed us to grow organically to the point we are at now. We have a dedicated 3 barrel brewery we built from scratch in the heart of Bournemouth, and it puts us way ahead of where we thought we’d be.
We are now however, at the point where the small amount of start up capital we began with is holding us back in terms of the potential speed at which we could grow. We have several national distributors interested in stocking our products, a full events calendar for the rest of 2019 and a detailed expansion / business plan for our future, which includes our central Bournemouth tap room bar opening in 2020. We are also lucky to have Matt Peacock as part of the brewing team now. Matt is an accredited and qualified brewer with an MSC in chemistry as well.
In this post we want to tell you that our plan for 2019 is to raise investment capital in order to take Barefaced Brewing to the next level. We want to raise up to £60,000 in order to increase our brewing capacity, beer quality and all round resources. It’s a project we have been discussing for the past few months and are lucky enough to have the help of Nick Baldwin, who specialises in capital investment and investment financing, to advise on the financial and legal aspects of our plan.
In exchange for £500 minimum investments, we are offering shares in the business, the benefit of tax incentive schemes offered by the government to aide small business growth, dividend payments, interest returns on the money invested and an incentive package similar to a crowdfunding model but more substantial and concrete than a t-shirt or a bottle of pale ale.
In the past we have been offered investment in exchange for equity by a number of people and we have always rejected these kind offers. All three of us have worked for companies where creative control ends up split between people with an original vision and people with a narrow and short term focus on profits. In our experience this leads to craft beer being made cheaper and cheaper until it’s unrecognizable and it kills potential profits. Nick, Myself and Matt, our head brewer, will still retain full creative control over our recipes and the direction of Barefaced Brewing and we hope to add a number of passionate investors who will help to guide us as we grow.
Our main focus in starting this business has always been to make the best quality beer that we can. It’s the simplest way we can sum up our goal and is still at the core of what we do. We want to see people enjoy what we've made. It makes us feel good. If you want to join us please get in touch and forward this to someone who might.
We’ll post an update to our project soon and we appreciate any support we get in response.