Designed and built from the ground up, this award-winning microbrewery and restaurant continues to develop a loyal customer-base in West Michigan. This unique Company features class C & Brew Pub licenses and offers quality food and award-winning craft beer produced in-house by the Company’s experienced brew team. This is a newer facility that along with its outside serving area has seating for over 200.
The real estate is owned by a related entity and is available for sale of lease, with a strong preference for a sale. Generally, the real estate would be sold for current appraised value, which would be determined during the due diligence and banking phases and after a price on the business has been agreed upon. The building, zoned commercial, is 6,352 sqft and was appraised in August 2012 for $1,070,000. There is ample parking and the building is in excellent condition.
The business presently employs 12 full-time staff and 27 part-time staff. Sales consist of 78% food and liquor, and 22% beer. Most of the equipment was purchased in the past 5 years for a total of $460,750. As is customary, it has been depreciated on the books significantly, but for practical purposes much of it is like new.
While generally absentee, the owners are selling to transition into full retirement and spend time more consistently in warmer climates.
Asking Price: $399,000 (includes equipment!)
Estimated Building / Real Estate: $1,200,000
June 2016 Trailing Twelve Months (TTM):
In-House Brewing Operation – This Company brews its own beer using the finest ingredients exclusively from Michigan suppliers. Customer feedback has been excellent and one of its beers was recently awarded a bronze medal at the annual Best of Craft Beer Awards competition.
Turn-key – This is a turn-key opportunity. From the capable management team to the kitchen operations to the POS system – everything is proven and functioning with only minimal oversight. The owners generally oversee the business from afar and have setup management reports and cameras so that they can monitor the business as necessary.
Excellent Location –17,000 cars go by this Company’s highly accessible location every day.
Increase Owner Involvement – Although the Company runs smoothly with only minimum involvement of the owners, it would certainly benefit from an individual or group willing to become more actively involved in its day-to-day operations.
Distribute – The next logical step would be to apply for a distribution license, hire a full-time brew master, develop the brand, scale up production and begin distribution.
Catering – Management believes that the current facility can handle multiple catering events per month without disrupting the normal operations of the restaurant. Catering is especially attractive to a brewery without a distribution license because it enables the Company to sell beer to non-restaurant customers. They have taken steps to move in this direction.
Outdoor Activities – There’s approximately one acre behind the building available for lease or purchase that that could be expanded onto. The owners believe that adding a larger stage for music and/or volleyball courts would be optimal.
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