To all we are down to the wire and would like to close this financing opportunity . The very good news is that last Friday we received our Tax and Tariff Bureau (TTB) approval for our Brew-house at 104 East 5th Street. Floor drains are in and after sealing the floor, placing our new 24 hp Prochiller on the concrete pad and finishing the plumbing we are good to go!.. Our Columbia Historic Zoning Commission has approved our designs for the 105 East 5th Street building to include a 30'X30' outdoor fire pit with pergola, our riverside porch and our 8 ft statue of Thor designed by a local artisan and John Porter in the front parking lot. We have also altered the plans for 105 to include a Meadery and a 88 taps on the wall.
Revenue remains strong and demand for our products is awesome ; we only limited by the amount of retail space and we are building out in the 105 site.
Asgard has had a very productive and fruitful 2018 year. Here are some highlights:
1. Gross income for 2018 is over $520,000
2. Gross margin is over 47%
3. Retail sales in taproom are $456,000
4. Wholesale beer was over $67,000
5. Since we started inviting Food Trucks to Asgard in December 2016 we now have over 32 different Food Vendors who, on a rotating basis, are at Asgard 6-7 days every week pending weather and holidays.
6. Raised $818,000 in equity and debt financing to date.
7. Started a Wefunder program seeking $250,000 deadline 4-15-2019
Asgard currently has 9 full time employees (FTE's) and 10 volunteers and Asgard brand ambassadors , we expect to triple the number of employees in the next year.
Competition: We have provided competition in Columbia for food service and that completion has and will continue to stimulate the economy and enhance the food selections of the City and County. Two new Local Vendors Big E’s and Johnny’s Love Crepes are building strong following. M& M Catering and Hearty Hog are the strongest players on our porch. As fast follower is Zander’s Pizza from Dixon. Two local restaurants Southern Tre and Puckett’s have purchased a Mobile food truck and are requesting the opportunity to capture some business at Asgard, which we freely and openly welcome.
Beer competition: A Taproom; Taps Off Main, has opened in 2019 this is viewed by Asgard Management as a positive development as we will sell even more beer locally. Bad Idea Brewing a small microbrewery will open in 2019 located in the Columbia Arts Building. Sice we have opend the number of Breweries nationall has increase from 3200to 7300 and cities like Asheville NC have gone from 28 to 70 breweries and Michigan has gone fom 140 to 320 breweries. Competition is good for business and only enhances the experience, validates the business model and drives more beer loving patrons to our destination eco-tourism location.
Voyager still our number one seller
Spicy SURTUR (Szechuan, Habanero and Ghost pepper varieties)and various
Spice Voyager (Carolina Reaper Peppers) Hop Heathen
Huginn Belgian Style Porter
multiple variants and combinations
8- and 12-year Dickel Barrel aged, Coconut, coffee, Chocolate and barrel aged sour(s)
Vestri (IPA) 115 IBU our number 2 player
Ragur Imperial Stout 8.4% ABV Coconut and Chocolate varieties 12-year Dickel barrel aging program in full swing with 15 barrels
Placements in Mid-State TN
We are currently using the Lipman Brothers Distributor for product distribution outside of Maury County . Asgard increased exposure from 69 to over 103 placements last year.
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