East Vancouver Brewing, a popular brewery at the end of The Drive, has an intriguing opportunity for folks who love beer and want to own a piece of the spot on Venables Street.
Daily Hive caught up with Steve Jennings, the owner of East Vancouver Brewing, to chat about what prompted the move and why people should consider owning a piece of the brewery.
Jennings, born and raised in Vancouver, has been in the hospitality industry for over thirty years and has been in the brewery game for about 14 years.
Over the past year, we’ve heard a lot about Canadian vs. U.S. alcohol, and we asked how much the push to buy Canadian has impacted East Van Brewing.
Jennings said that while it’s helping, it hasn’t necessarily been changing the business or changing anyone’s lives. FIFA, on the other hand, did provide a decent bump.
“We got a lot of reservations to watch the soccer matches, surprisingly, and we got people coming back from PNE and from the stadiums,” he said.
We’ve seen some breweries close over the last few years, stoking some fears of a brewery bubble bursting, so to speak.
“I think everybody in hospitality is feeling it now because of the economy,” Jennings reflected. He added that they’re not just relying on the brewery operations alone.
“We’ve now got a third-party kitchen company that’s come in and providing amazing food to our customers. So there’s another generation of a revenue stream there,” Jennings said.
They’ve also teamed up with Glitch, which we’ve written about in the past.
One of the reasons they’re opening ownership opportunities for the community is because the brewery wants to expand its offerings, including non-alcoholic products, like its recently launched non-alc beer, Slow Lane Lager.
Amir Ali/Daily Hive
We also have the deets about what specific tiers offer.
For $250, the local supporter tier, you get one free beer a month, a $25 app credit, an exclusive member card, and your name on a digital founder’s wall.
For $500, the next tier up, you’re considered a community insider and can get one free beer a week as well as early access to new beverages. You also get access to investor-only invites and a 30 per cent investor tax credit.
For $2,500, you can visit East Vancouver Brewing for a free beer every day.
The highest tier is $50,000, and for that investment, you get a $3,000 annual app credit, full VIP access to East Vancouver Brewing and London Pub, the opportunity to co-create a beer release with premium branding opportunities, and more.
East Van Brewing’s customer base is a fairly loyal one, with 50 to 60 per cent of guests being repeat customers.
The money contributed will be invested right back into the brewery to grow the business. Every dollar investors put in equals one share of the brewery.
“There’s nothing better than seeing someone genuinely enjoy one of our beers for the first time. That feeling never gets old, and it pushes me to make every brew better than the last,” Jennings said in a statement.
Interested parties can head to FrontFundr to check out the various tiers and invest, and the minimum is $250. So far, East Van Brewing has raised 18 per cent of its target, and there are 17 days left to invest.