from the Founder ELIZABETH CASTELLANA
"Kin is an all-ages flexible venue made to include everyone you want to be with rain or shine; morning, noon, and night. Kin is more than a tap room, it's a rec-room, a public-living room, a party venue, and a life-as-it-is venue. We can't wait to be your happy place.”
why you might invest
- Recently featured in Boston Eater
- Appeals to large market population of millennials with children looking for an inviting, family friendly social environment.
- Prime location sourced in entertainment district of Everett, MA.
- Projected revenue of over $1 million in first year of operations.
- Revenue structure drives high margins due to low cost of sales.
- Partnership opportunities with other local vendors drive increased demand.
INdustry spotlight
- Demand for nontraditional event spaces was up ~4% in both 2017 and 2018
- The three most important aspects of an event venue (for event planners) were
- Price
- Design of Space
- Food and Beverage
- Meetings and events account for $325 billion of direct spending
Introducing Kin
Industrial taprooms with a bring-your-own-food-family-dog-and-agenda atmosphere are popular because of the flexibility they offer to patrons to set the terms of their time there. What you exchange for that flexibility is a beverage offering limited to that specific brewer's beers. What if you want to hang out with your carb-phobic friends, or vinophile family members? Kin offers that flexibility. Kin is a tap and rec room like a brewery, but we offer beer, wine, and cold brew on tap as well as espresso based drinks. Bring your friends and family or come on your own, bring a pizza or don't, bring a kid who needs to dance and get away from the tv, it all works for us at Kin.
Kin will look and feel familiar to patrons of taprooms proliferating in the area: A poured concrete floor, brick walls, and an industrial warehouse setting will create a trendy and open atmosphere.
Accommodations for patrons of all ages will largely be subtle, but it will be clear upon arrival the space is thoughtful and fun.
The space will be ADA compliant so that both adults and children with disabilities can enjoy the venue.
Business Model
Kin’s business model is simple: invest in what generates income and margin; skip the rest.
Kin will offer six beers, six wines, two ciders, and cold brew on tap. The profit on beer on tap will come in around $4-8 per pint and the profit on kegged wine is up to $10 per glass. Most local breweries are finding that taproom sales are underwriting their business models and providing the cash flow needed to increase brewing capacity. Kin will have low overhead because it won’t be producing, just selling.
With an average profit of $8 per drink, Kin would need to sell 1,250 drinks per month to bring in $10,000 monthly. On a good Saturday, it is easily feasible to generate that in in a day. If Kin can secure a space with a 400 person capacity, it is easy to see how at an average of two drinks per customer, a good day can bring in $10,000.
The Market
With the rising housing costs in the Boston area, couples are having children and buying homes later in life as dual income families. This leaves weekends as a precious and brief time to tend to chores, housework, errands, and ideally to get quality time with one’s children as well as time to relax, recharge, and socialize. Greater Boston lacks year round options where adults and children can both enjoy and feel comfortable in a space together. These families have expendable income, but lack expendable time.
Our Competitors
- Lawn on D in the Seaport and Anchor in Charlestown are the closest models in the Boston area to offer something similar to Kin: open space, gross motor activities for all ages, and bar offerings. Both are outdoor so are not an option most of the year and aren't comfortable during peek Summer heat. As urban spaces parking and traffic can also be tricky.
- The Mill at 180 Park in Easthampton is the most similar model we've found anywhere. This space is indoor, park-like, and designed for child and adult relaxation and recreation. The Mill at 180 Park doesn't offer direct competition because it is two hours from Boston. The Mill at 180 Park also emphasizes the indoor park theme with turf flooring and an abundance of plants and growing beds. Kin will be less thematic in the interest of preserving a clean, minimalist aesthetic.
- Brewery Tap Rooms in the area are extremely popular and were the primary inspiration for Kin. Many parents with young children enjoy tap rooms for their family friendly, casual atmosphere. Kin will compete them but will be intentionally child friendly and will differ in being unconnected to a production company. We aim to be a retailer of the beers produced by these "competitors" in order to support them and offer something they can't: other beverages.
