The raised capital, in excess of £514k, will be used to fund a new brewery that will triple production. The brewer also has plans to renovate its current site, turning it into a taproom and experimental brewery, and implementing a canning line.
‘The new site may even be on the same road, but if Bermondsey turns out being too expensive then we’ll look elsewhere, even South Wimbledon,’ Jack Hobday, Anspach & Hobday co-founder and executive chairman, told Imbibe.
‘It’s necessary to stay in London, but after that we’re quite open-minded as long as it’s a good location.’
Hobday said that the new brewery site will be all about production, but ‘if it’s far enough away, we might have another taproom at the brewery’.
Crowdfunding has become a popular solution among craft breweries seeking to expand; recently, Richard Yarnell, the beer and cider manager at Mitchells & Butlers, told Imbibe that he’s likely to stock beer from successfully crowdfunded breweries, as they benefit from a faithful following, thus guaranteeing sales.
‘Crowdfunding is particularly good for any food or beverage company because it stimulates a good interaction with the customers, the people who care about the quality of the product,’ commented Hobday.
‘[Co-founder] Paul [Anspach] and I believed that the best people to invest in our company were those who love our products, because their priority is the beer itself. Plus, it’s an opportunity for everyone to own something.’
But with so many businesses knocking at the crowdfunding door, Hobday thinks that breweries looking for investments from the public need to be wary.
‘Relying only on people’s good will – by simply offering discounts on future purchases, for instance – is going to be very difficult now,’ said Hobday. ‘Maybe in the past it was a lot easier because people thought, “Wow, this will be the next BrewDog, or the next Camden”. Now there is less novelty.
‘In the future crowdfunding won’t necessarily happen that quickly, and breweries will need to be competitive, giving out equity and focusing on the local market.’