Season 4 of Shark Tank Australia returned to TV screens last night and one company making their case for investment was Your Mates Brewing Co.
Founded by Christen McGarry and Matt Hepburn, Your Mates Brewing Co is the largest brewing company on the Sunshine Coast and is already selling in excess of 100,000 litres of beer per annum across more than 30 venues in South East Queensland. They also sell through a select number of bottle shops in the region including Cellarbations & Cellars and BWS.
Stepping into the Shark Tank the Christen and Matt were looking to raise $750,000 for a 25% stake in their company at a $3 million valuation.
While they were commended for their great branding, true Aussie spirit and level of success they have achieved to-date they did unfortunately they stepped away from the Shark Tank without securing the investment. But they need not worry as they are turning their attention to engaging with their customers and other potential investors on the Birchal Equity Crowdfunding Platform.
Equity Crowdfunding is a fast growing area in the Australian startup scene with recent changes to the Corporations Act allowing everyday Australians to back new and early stage companies in exchange for shares in the company.
Interestingly enough, if the UK is anything to go by, Micro-breweries and alcoholic beverage companies tend to do extremely well on Equity Crowdfunding Platforms. For example, on the UK’s largest equity crowdfunding portal, Crowdcube, there are currently four alcohol companies raising money.
This includes Cotswolds Distillery and the East London Liquor Company which have both raised in excess of 100% of their target and still have 15 days left of their crowdfunding campaign. If the pattern holds true in Australia then Your Mates Brewery soon be turning around to the Sharks and proving just how valuable their business can become.
Returning to the company itself, Your Mates Brewing Co launched back in October 2015 after Christen and Matt came together to build a brand that represents their lifestyle (and that of millions of other Australians across the country). Their ethos is centered around the concept of mateship and the well honored tradition of drinking good beer, with good mates, while having a good time.
The company focuses on the 25 – 35 year old social beer drinker who doesn’t have any loyalty to the macro mainstream brands. They are not necessarily hunting for the latest craft beer, but they want a high quality (and local beer) that is their go-to beverage of choice when out socialising with mates.
If successful, the funds Your Mates Brewing Co is able to raise through Birchal will go towards building out their two distribution channels.
On the retail front their plan for Your Mates Brewery to be a destination venue on the Sunshine Coast with an onsite bar. The wholesale division will focus on building out a sales team to drive an increase in sales volume of their beer in bars, clubs and bottle shops across the country.
Currently Your Mates Brewery is listed on the Birchal Platform where you can follow the company for updates. The “Expression of Interest” period will open shortly, followed by the equity crowdfunding process itself.
Pop over to Birchal and learn more about Your Mates Brewery and the plans they have for creating great beer that you and your mates will love!