Ready to expand its already growing business, Scotland-based Growler Beers UK announced it is set to launch an equity crowdfunding campaign on Crowdcube in a couple of weeks and will be seeking £120,000.
According to The Scotsman, Growler Beers UK debuted in the Morningside District of Edinburgh in 2013 and has since built up a customer base of 3,500 brew enthusiasts who buy keg and cask ale on draught. Founder Stuart Dinning revealed with the £120,000 he plans to open a second shop in the capital, move into Glasgrow and explore franchising potential for the brewing business.
Dinning stated, “We know others are looking to come into the market, and we want to now really build on what we’ve achieved to date with the brand. We’ve learned a lot since launching and overcome teething problems around CO2 regulation in filling the bottles, which we had initially and feel the time is now right to move to the next level.”
Revealing what inspired him to create the campaign, Dinning shared that it was the crowdfunding success of craft beer firm, Brewdog, that made him realize the power of the funding method. Crowdfund Insider previously reported that Brewdog’s “Equity for Punks” campaign scored £4.25 million during its run in 2013, after initially asking for only £4 million.
This was not the first time BrewDog had gone straight to the people that know them the best – their customers. The company had done several rounds of self-crowdfunding to aid in their fast growing company. The team created Equity for Punks in 2009 when 1300 people invested in their company. The current offering commenced in June 2013 and is ended in January 2014. The offering was considered a bit of a hybrid as equity owners also were able to enjoy some perks, which included:
- A lifetime discount at all BrewDog bars
- A lifetime discount at their online shop
- An Equity Punk card for exclusive offers
- £10 in Beer Bucks
Dinning also told the media outlet that Growler UK is planning to put up about 15-20% of its equity to backers who are able to invest as little as £10 towards.
He also announced the company is about to launch its own beer brewed in-house. Dinning noted that the reaction for brewers to the news has been very positive. “We now have them approaching us to take barrels. We have had a distributor for a couple of English brewers refuse to supply us because they see us as competition but most have been fine.”
Growler UK is also developing a mobile bar to take to festivals or hire out for events around the area.
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