Sarasota production brewery JDub's Brewing Co. has a problem, but it's a good one to have for a growing business: They are having trouble keeping up with demand for their beer. To fund their expansion, instead of going to a bank for a traditional loan, JDub's is looking to crowdfunding.
The brewery at 1215 Mango Ave., which hasn't been open a year, has started a campaign on Kickstarter.com with a goal of raising $20,000 by Nov. 18 to pay for a new canning line.
If you aren't familiar with Kickstarter, here's how it works: Backers pledge money via the website, and get JDub's rewards depending on the size of the pledge. The rewards range from a personalized Christmas card for a $10 pledge all the way up to a party for 50 at the brewery for a pledge of $5,000 or more. A $750 pledge gets you beer for life as the tap room.
If JDub's doesn't make its $20,000 goal, they won't get any money and all pledges will be refunded.
JDub's Brewing Co. founder Jeremy Joerger. (Herald-Tribune archive / 2014 / Rachel S. O'Hara)
“What I like about the crowdfunding is you’re offering something," JDub's founder Jeremy Joerger said today in a phone interview. “I’m not just sticking my hat out, I’m offering something of value.”
The demand for their flagship brew, Up Top IPA, is "about four times" what JDub's is able to put out, he said.
JDub's has been hiring mobile canning company Craft Brew Crew out of Tampa to come down to Sarasota and can their IPA.
"They do a fantastic job," Joerger said, but JDub's is just breaking even financially in the process.
“There’s a real demand for more Up Top," Joerger said, "plus we really want to start canning our Poolside," the brewery's new flagship golden ale. He also would like to produce 16-ounce four-packs and one-off cans.
Head brewer Tom Harris had the idea to try a crowdfunding campaign, Joerger said. "We're not the first to do this by any means."
Indeed, crowdfunding is popular with small breweries. The one that springs to mind took place about a year ago, when South Florida brewer Jonathan Wakefield sought to raise $55,000 for his in-progress J. Wakefield Brewing. He met that goal in about two days and his campaign went on to raise $110,710.
This is the second Sarasota-based brewery Kickstarter project that I know of, following the (ultimately unsuccessful) Naughty Teacher Brewery fundraiser in May of 2012.
Joerger says he's nervous about the campaign, but hopeful they will make their goal.
“We’re still a small business, we’re still very young.”
You can learn more about the campaign by clicking this widget:
