Other Half (July 2018)

I mean, they certainly got a mortgage for the property, and likely ABLs for a lot of the equipment they're planning to get for the new brewhouse. Usually no equity involved with those, but maybe brought in an investor.

 

Warning, math ahead please check

Between can sales and taproom (pours, merch etc) you'd have to think they are doing at least 200K over the weekend, not to mention whatever they sell Monday through Friday (kegs, cans, pours).

Would be hard to imagine they are grossing anything less than 500K per calendar week, which equals 26M a year. After payroll, taxes, insurance as well as mortgages, loans and leases they should have more than enough to pay 660K for the Rochester property...

 

Anyone crack a can of cabbage yet?

 

Hops are fucking expensive, man.

 

I'm drinking a can now and it's tasting pretty good. I am pretty sure this is my first time having it so no real frame of reference to compare to previous batches. It's good, but I don't think any from this series (Broccoli, Cheddar, etc.) stands up to the dual hop series or any of the recent hop shower variants. Just my opinion, but I think the glassware and novelty of this series skewed the ratings. Not bad at all, but doesn't come close to a lot of the other regular offerings for my tastes.

 

Your #'s are probably conservative but either way that's a lot of Cheddar/ Cabbage!!!

 

Not factoring in any ingredients to the math was a move @dhaakon would be proud of.

Borrowed money for equity?

Below is the quote. I read it like maybe they now have an investor/backer who has the liquidity/nw/balance sheet to to on guarantees for a loan etc. Though obv like everyone else I really have no f’ing idea. And yeah it would seem like the amount of money they pull in every week should get them pretty far. But who knows what the underlying financial situation is

Quote:

“All you have to do is run the numbers. Looking at a branch office compared to owning a facility up there, we can turn on and manufacture and more honestly serve that area. That's the way to go. We went through a major corporate restructuring here that allowed us to borrow money from banks. We were unable to do that before. So now we can expand in ways we've been wanting to”

 

Went to Other Half today and thought Indigo Hands was really really good. Probably my favorite of all the beers I tried.

Also broke a glass there so today is the last time I'll ever be there again.

 

Math checks out...

 

Don't sweat it. I've seen people do far far worse in that taproom.

Also agree that Indigo Hands is killer. Drinking great right now. Big fan of when OH uses Spelt in their beers.

 

I dropped a 64oz growler in there on a packed Saturday night in front of a group of five very drunk jumbonerds (that’s a beer nerd that meets all of the following criteria - over 6’4” tall; over 250lbs; beard length of over 10”). Trust me was not enjoyable

 

500K a week? They wish.

 

My guess was more like 150k. That closer?

 

Anyone have any issues with their 495 cans?

My first one is undercarbed and looks much darker than I think it should. Possible oxidation?

 

Different weekend, but Inspirational Omnibus had 1 of 3 oxidized, first 2 were fine. Still have 1 left.

 

Yea that would be my guess as well, they're probably selling like what 1200 cases a week at around $114 a case which would put can sales ~$137k. $13k then works out to about 1625 pours assuming $8 on average which is something like 230 pours a day. I can't see it being much above this on average unless I'm way off somewhere with my estimates.

 

I was coming in a bit lower on case count but then was also thinking about distro’d kegs as well

 

cost of ingredients, rent, salaries, equipment cost (purchased with debt?), insurance, cans, canning company fees, label art, etc all eats plenty away from that...

 

I’d say maybe 600?