Portico Brewing

Portico Brewing

Brewery

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Security Type
Revenue Sharing
Categories
Food & Bev
Min Investment
$100
Location
Somerville, MA
Offering Date
July 31, 2020
Expected Close Date
October 28, 2020
Target Raise
$75.00K-$175.00K
Deal Notes

If you invest $100, the business agrees to share a portion of their revenue until you have been repaid $150. They will owe you this amount by 1/1/2028, regardless of revenue.

Company Description

Portico is a Massachusetts-based craft brewing company inspired by architecture and design of all kinds, elements of which serve as the basis for our approach to beer making and branding. Our focus on rethinking traditional styles by brewing with unique combinations of classic and innovative ingredients results in a refined yet accessible product intended for all to enjoy. Portico is currently contract brewing at Ipswich Ale Brewery in Ipswich, MA, and distributing beers throughout the state.

Since our founding in 2012, Portico has taken a phased approach to growing the business. Phase One: successfully establish a contract brewing business. Check. Phase Two: secure broader distribution and packaging. Check. Phase Three: open a brick-and-mortar destination. That’s where you come in

In February of this year, after signing a lease on a space in Somerville, MA, receiving our zoning permit, and securing an initial round of funding, the COVID-19 pandemic hit. After carefully considering our options, crunching the numbers and keeping a close eye on breweries’ unique ability to survive over the past several months, we’ve decided to forge ahead – remaining confident and committed to the development of our brewery and taproom.

As a result of the COVID-19 pandemic, traditional lending has become extremely difficult or impossible to access for food and beverage businesses - so we are looking to the people to fill the financing void that persists across our industry. With your funding, we will be able to purchase the necessary equipment and build out our space – a beautiful 3,400 SF brick building in the quickly developing Boynton Yards area of Somerville, MA – and create a uniquely safe environment fit for today’s new reality.

Our particular location in Somerville, recently ranked by Forbes as the #1 best city in the country to start a brewery, offers distinct advantages: great foot traffic in the heart of Boynton Yards, immediate access to the forthcoming MBTA Green Line Union Square train stop, and is tucked in a residential area full of beer drinkers who already know and support our brand. Furthermore, a large amount of outdoor park space is being constructed just blocks from the building as part of the Boynton Yards redevelopment – which we plan to use for outdoor events and beer gardens on a regular basis. The development will also deliver 425,000 SF of office and commercial space and an additional 425 residences directly across the street from our establishment.

We are strong believers in, and members of, the Somerville community and want to build a neighborhood taproom that helps support and spark a renewed retail environment here. We already have deep roots in the city and have waited a long time to find the right location within its borders. This is a large part of why we are moving forward with our project – to provide a home-away-from-home for our neighbors and because we have faith they will help us raise the capital needed to open our doors!

Use of Proceeds

  • Buildout: $78,400
  • Brewery Equipment: $52,400
  • Taproom Furniture, Fixtures: $18,200
  • Mainvest Compensation: $10,500
  • Working Capital: $15,500

Management Team / Advisory Board Bios

Alex Zielke
Co-Founder
Alex’s passion for hand crafted beer is built on eight years of home brewing, commercial brewery experience and a Brewmaster’s certification from the prestigious Versuch-und Lehranstalt für Brauerei in Berlin, Germany. He has a background in biotechnology, with several years spent in academia as well as with several start-ups, elements of which you can see in some of the experimental but deliberately designed Portico beers. Alex earned his MBA from Babson in 2012, launching Portico with classmate Alex Rabe.

Alex Rabe
Co-Founder
Alex has fifteen years experience in marketing and business development, representing clients such as Rockefeller Center, AMC and BMW before becoming the Marketing Director for Daniel Libeskind, architect of the new World Trade Center site. While earning his MBA at Babson, Alex met classmate and fellow beer aficionado Alex Zielke, who taught him the art of brewing. Now an avid brewer himself, Alex's passion for design is as strong as his love for craft beer, both of which he brings to every beer and label he creates.

Ian Chester
Partner
Ian has over 15 years of professional food and beverage experience in major markets including Boston, New York and Miami. His desire to explore entrepreneurial opportunities further up the supply chain led him to earn his MBA at Babson, where he met the founders. Ian brings to the team an in-depth knowledge of the retail side of the industry and a passion for business development and operations.

Ben Engle
Partner
Ben has twelve years of experience in the events and food/beverage industries. He has spent the last eight years managing large-scale, nonprofit events and cause marketing campaigns. Prior to that he worked as a professional chef in Boston's fine dining restaurants and catering companies. Ben joined Portico in 2016, serving as the Director of Events. 

Deal Notes

If you invest $100, the business agrees to share a portion of their revenue until you have been repaid $150. They will owe you this amount by 1/1/2028, regardless of revenue.

Amount Raised : $131,200
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Security Description

Revenue Sharing is a form of lending that involves sharing revenue from the business with investors as return on their investment. It is often a fixed percentage of revenue and you are paid until you earn a total return on your investment.

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