Tradesman Brewing Co. is accepting investments through a crowdfunding platform called Mainvest, with the goal of raising $200,000 to “reconsolidate debt and grow,” according to its Mainvest profile. On Wednesday, Aug. 25, the brewery will host a “Tradesman Pitch Night” Q&A to answer investor questions.
“This actually came to us already vetted by the national Brewers Association. It seemed like a really good way to generate capital and have people earn a little more than your general savings account,” said co-owner Sara Gayle McConnell, describing why people should attend Wednesday’s Q&A. “They have an option to come ask their questions and see what we’re planning.”
Folks who invest in the brewery receive a share of revenue up to a certain point. So, if you invest $100 in Tradesman through Mainvest, the brewery is agreeing to share a portion of their revenue until you have been repaid $150. Similar to a Kickstarter campaign, Tradesman will not receive funding if it does not reach its target by Oct. 1.
Tradesman was founded by Sara and her husband Scott, who opened a James Island brewery in 2014 before adding co-owner Chris Winn and moving downtown to its current location at 1647 King Street Extension. The brewery was facing foreclosure last year, as reported by The Post and Courier‘s Dave Infante, leading ownership to start a “Go Fund Yourself” campaign to try to increase brewery traffic. According to Gayle McConnell, the brewery has reached a settlement with the bank, but is unable to disclose details at this time.
The owners will use the funds to help with “restructuring of some of our debt along with working capital,” Sara said. As of publication, Tradesman has raised just over $20,000 with 37 days left in the campaign. For more information or to invest, visit mainvest.com.
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