Are you a CPA working in business, industry, government, or education? If you aren’t coming to the Business and Industry events, you’re missing out. Here’s a case in point: the Thursday, April 17 tour, behind the scenes at Independence Brewing Company in South Austin.
As we sampled the craft-brewed product offerings, Amy Cartwright, the company President, told us the story of their unusual venture. Amy and Rob Cartwright, slamming into the difficulty of getting financing for a risky new venture, originally began the brewery by setting up a C-corporation and selling shares of stock to private investors. Their original beer brewing system, procured from a junkyard in Arizona and subsequently retooled and rebuilt, has operated for ten years and currently operates around the clock. Originally, they distributed the beer themselves, with Amy driving around town with kegs of beer to deliver. Their business took off when they started working with distributors. About half their beer goes into kegs and about half is bottled and sold through major Texas grocers to home consumers.
Amy talked about the challenges of coping with a rapidly growing business. Each year of operation, they’ve brewed more beer, and now their original equipment can no longer keep up with demand. Independence is currently completing the installation of a brand-new system, which will have about ten times the capacity as the original equipment, a grain silo, and a more automated bottling system. In order to finance this major expansion, Independence Brewing is issuing some additional private offering stock shares.
Their CFO, Mike Biggers, gave us a tour of the facility, answered a great many questions, then we had a break, snacks, and more beer. After that, we toured the new brewery, which is on the opposite side of the building and soon to be in service.
Like so many Austin Chapter events, this was a fun and informative outing. Check out all the neat photos.
Watch for more great Business and Industry events in the newsletter!