Microbrewery Business Plan

Martin Cove Brewing Company

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Company Summary

Martin Cove Brewing Company has built a reputation for handcrafted care, time-honored methodology, and the finest natural ingredients from around the world.

Martin Cove Brewing Company has been a successful microbrewery in southern Oregon for the past three years. Located in the city of Medford, the company has increased sales by 15% each year. The company's product lines are Martin Cove Pilsner and Red Ale.

Martin Cove Brewing Company handcrafts its beers in small 20 barrel batches under the close personal attention of our brewers. The latest brewing equipment and technologies are seamlessly combined with traditional brewing methods to ensure consistently excellent taste, whether packaged in bottles or draft kegs.

Martin Cove Brewing Company is planning to expand its distribution to selected metro areas within the state of Oregon. Over the last three years, Martin Cove Brewing Company has become one of the city's most popular microbreweries, and aims to repeat this Oregon-wide. In addition, the company will introduce a new product, a traditional German Marzen style lager. Owner funding and internally generated cash flow will enable the expansion plan.

2.1 Company History

Martin Cove Brewing Company was started in the city of Medford in 1996. John Wilson was bartending at two local establishments in Medford for ten years before starting Martin Cove Brewing Company. Brewmasters Bob Taft and Jeffery Calson had worked for Portland Brewery Company for six and eight years, respectively, before starting Martin Cove Brewing Company. Felix Henderson had twelve years of experience in retail sales and marketing when he joined as co-owner/marketing director for Martin Cove Brewing Company.

Martin Cove Brewing Company handcrafts its beer in small 20 barrel batches under the close personal attention of our brewers. The latest brewing equipment and technologies are seamlessly combined with traditional brewing methods to ensure consistently excellent taste, whether packaged in bottles or draft kegs.

The beers proved to be so popular that Martin Cove Brewing Company soon could be found in almost every market and pub in Medford. Over the next three years, Martin Cove Brewing Company has become one of the city's most popular microbreweries.

Martin Cove Brewing Company's operations has expanded dramatically over the past three years. Currently, the company has a staff of eleven in production, delivery, and sales.

Past Performance
FY 2000 FY 2001 FY 2002
Sales $350,000 $420,000 $520,000
Gross Margin $245,000 $294,000 $364,000
Gross Margin % 70.00% 70.00% 70.00%
Operating Expenses $200,000 $260,000 $320,000
Collection Period (days) 0 49 57
Inventory Turnover 52.00 52.00 52.00
Balance Sheet
FY 2000 FY 2001 FY 2002
Current Assets
Cash $10,000 $30,000 $80,000
Accounts Receivable $49,000 $58,000 $80,000
Inventory $10,000 $10,000 $20,000
Other Current Assets $5,000 $5,000 $5,000
Total Current Assets $74,000 $103,000 $185,000
Long-term Assets
Long-term Assets $100,000 $100,000 $100,000
Accumulated Depreciation $4,000 $8,000 $12,000
Total Long-term Assets $96,000 $92,000 $88,000
Total Assets $170,000 $195,000 $273,000
Current Liabilities
Accounts Payable $30,000 $20,000 $20,000
Current Borrowing $0 $0 $0
Other Current Liabilities (interest free) $0 $0 $0
Total Current Liabilities $30,000 $20,000 $20,000
Long-term Liabilities $60,000 $40,000 $40,000
Total Liabilities $90,000 $60,000 $60,000
Paid-in Capital $30,000 $40,000 $80,000
Retained Earnings $38,000 $80,000 $109,000
Earnings $12,000 $15,000 $24,000
Total Capital $80,000 $135,000 $213,000
Total Capital and Liabilities $170,000 $195,000 $273,000
Other Inputs
Payment Days 12 12 12
Sales on Credit $0 $400,000 $440,000
Receivables Turnover 0.00 6.90 5.50

2.2 Company Ownership

Martin Cove Brewing is owned by John Wilson, Bob Taft, Jeffery Calson, and Felix Henderson.

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Past Performance
FY 2000 FY 2001 FY 2002
Sales $350,000 $420,000 $520,000
Gross Margin $245,000 $294,000 $364,000
Gross Margin % 70.00% 70.00% 70.00%
Operating Expenses $200,000 $260,000 $320,000
Collection Period (days) 0 49 57
Inventory Turnover 52.00 52.00 52.00
Balance Sheet
FY 2000 FY 2001 FY 2002
Current Assets
Cash $10,000 $30,000 $80,000
Accounts Receivable $49,000 $58,000 $80,000
Inventory $10,000 $10,000 $20,000
Other Current Assets $5,000 $5,000 $5,000
Total Current Assets $74,000 $103,000 $185,000
Long-term Assets
Long-term Assets $100,000 $100,000 $100,000
Accumulated Depreciation $4,000 $8,000 $12,000
Total Long-term Assets $96,000 $92,000 $88,000
Total Assets $170,000 $195,000 $273,000
Current Liabilities
Accounts Payable $30,000 $20,000 $20,000
Current Borrowing $0 $0 $0
Other Current Liabilities (interest free) $0 $0 $0
Total Current Liabilities $30,000 $20,000 $20,000
Long-term Liabilities $60,000 $40,000 $40,000
Total Liabilities $90,000 $60,000 $60,000
Paid-in Capital $30,000 $40,000 $80,000
Retained Earnings $38,000 $80,000 $109,000
Earnings $12,000 $15,000 $24,000
Total Capital $80,000 $135,000 $213,000
Total Capital and Liabilities $170,000 $195,000 $273,000
Other Inputs
Payment Days 12 12 12
Sales on Credit $0 $400,000 $440,000
Receivables Turnover 0.00 6.90 5.50