Question 1

Is there a backup plan in the event you are unable to open a brewery in Medford?

Accepted Answer

Hi Zack - In short, no. We will open a brewery in Medford but if we don't raise enough for the big build out we will buy equipment and start it out on a smaller scale.  Our minimum is $60K before the fundraisers is 'live'  At that stage we'll buy a 3 barrel pilot system that we will be able to use commercially if we raise more but not enough for the full build out, we will top up the funds with a conventional bank loan.

Question 2

Can you be more specific about the possible location of the brewery in Medford?

Accepted Answer

Not really at this stage.  All I can say is we have a great location that we have had an architect / builder look over and give us a quote for the build out in West Medford with high visibility but have not signed a lease yet as there are some more details we would need to nail down, its our fall back position as I would rather build it in Medford Square.

Question 3

Is there a timetable for these returns and is there anything holding you liable for these returns in the event of default or failure?

Accepted Answer

Hi - There is not a timetable for returns.  The returns are paid back from 5% of the total sales so the more we make, the faster its paid back.  As for liability, as long as we are in business we are liable to repay the loans.  I would advice looking at the Wefunder 'Risks' section.    Please keep in mind it is a risk to invest and the reason the return is so high is because of that.

Question 4

With a $625K requirement in capex and working capital, how much do you plan on financing through debt, owner equity, and investor equity (including WeFunder)? While your financing plan is probably none of my business :), I am more interested in who gets paid first through the ...

Accepted Answer

Hi Oscar - The agreement we have with Wefunder is to pay investors back from 5% of revenue, there would not be a change to this.

Question 5

I see you're anticipating a 1/20 opening but other breweries in Everett and Somerville had quite long gaps between when they announced and when they were able to open. What do you anticipate being the main challenges in sticking to the 1/20 opening date?

Accepted Answer

Hi Ashley - The biggest challenge I can think of would be construction timing and equipment installation.

Medford Brewing Company

Profitable MA beermaker opening own brewery, first in Medford

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