A Newton-based brewpub that teaches guests to brew their own beer is looking for a fresh influx of capital to help fund its expansion. Hopsters has its sights set on opening a new location in Boston’s Seaport District and seeks to fundraise a total $1.7 million from investors, the Boston Business Journal reports, offering those investors equity in the company.
Hopsters launched a page on wefunder.com to explain the expansion plan, including details about revenue, the new Seaport location, and future growth.
We first opened doors in Newton, MA in Fall of 2013. Since then, we've breached the $1 million sales wall, brewed over 21,000 batches of custom beer, and have served corporate customers like Google, John Hancock, and more. We think it's safe to say we've nailed down the business model of your all-in-one craft brewery.
The founders want to take that business model and apply it to the new 5,000-square-foot space on Sleeper Street. Construction will start soon, and the goal is to open in the spring of 2017.
Founder Lee Cooper told the BBJ the brewpub will offer investors and Wefunder contributors equity in the company, with a target of $1 million. If Hopsters raises less than $300,000, investors will get their money back, and any gap betweens funds raised at $1 million will be made up with a bank loan, BBJ reported.
Money raised will go towards equipment needed to open the new facility and will support further expansion. The founders have set a goal of opening 16 Hopsters around the United States by 2022, including in Philadelphia; Stamford, CT; Austin, TX; and Jacksonville, FL.
• Brew-Your-Own-Beer Startup Hopsters Pops off New Crowdfunding Campaign [BBJ]