Salary Cap

[MeatHeadbengal]

Exactly right Exile. And Meat, I agree with you too. I wasnt talking about The Rona itself, merely trying to understand the economic fallout from the damage that has already been done. The "cure" will very likely worse than the disease regardless of whether or not anyone believes it was a necessary move. Economically speaking the world has been changed for a long damn time. We havent even seen the worst of it yet.

Mag, curious how this has impacted your brewery and future? Maybe another thread for this discussion.

We took a big hit. Coming into the year, we were on a big upswing. February was a record month for us (typically a bad month for beer sales). We had just opened up new markets in San Antonio and Austin. Just as things started shutting down, we signed a deal with the Frisco Roughriders, the AA affiliate of the Texas Rangers to face our own concession area and provide craft beer to the ballpark. We're expecting to double our overall revenue by the summer. Instead, we have seen a 70% drop in taproom revenue, and a 50% drop in offsite sales.

Luckily we run a lean ship and have a good relationship with our landlords and debt holders. We have deferments on payments and plan to negotiate a temporary reduction in payments moving forward. My partners and I do the majority of the work, so our payroll wasn't a burden, and if needed, we can lay ourselves off, but still continue to work. What staff we do have, we've been able to keep employed, with the exception of a few part time bartenders.

We are cautiously optimistic. We were lucky enough to get the PPP. That gives us 2 months of keeping our staff employed, plus a little relief in overhead. We've also applied for the SBA disaster relief loans too, and are hopeful they come through. We have the size and flexibility to can beer on a large scale, so we can adjust our business to take advantage of that market. Our distributor is adding Houston and Lubbock to our network. If our distribution network continues to grow we should be in good shape.

Unfortunately no matter how we navigate the market, we need our local bars, restaurants, and stores to survive. If we lose too many of those, we'll continue to struggle. So if you guys drink beer, support your local breweries as best as you can. It's expected as many as 60% will close. If you don't drink, support your local restaurants by getting takeout.

Were you able to apply for the PPP? We did and from what I know we got approved last night. That's a nice shot in the arm to keep you going for about a month or so, at least that's what it will be for us here.

[Mag]

Exactly right Exile. And Meat, I agree with you too. I wasnt talking about The Rona itself, merely trying to understand the economic fallout from the damage that has already been done. The "cure" will very likely worse than the disease regardless of whether or not anyone believes it was a necessary move. Economically speaking the world has been changed for a long damn time. We havent even seen the worst of it yet.

Mag, curious how this has impacted your brewery and future? Maybe another thread for this discussion.

We took a big hit. Coming into the year, we were on a big upswing. February was a record month for us (typically a bad month for beer sales). We had just opened up new markets in San Antonio and Austin. Just as things started shutting down, we signed a deal with the Frisco Roughriders, the AA affiliate of the Texas Rangers to face our own concession area and provide craft beer to the ballpark. We're expecting to double our overall revenue by the summer. Instead, we have seen a 70% drop in taproom revenue, and a 50% drop in offsite sales.

Luckily we run a lean ship and have a good relationship with our landlords and debt holders. We have deferments on payments and plan to negotiate a temporary reduction in payments moving forward. My partners and I do the majority of the work, so our payroll wasn't a burden, and if needed, we can lay ourselves off, but still continue to work. What staff we do have, we've been able to keep employed, with the exception of a few part time bartenders.

We are cautiously optimistic. We were lucky enough to get the PPP. That gives us 2 months of keeping our staff employed, plus a little relief in overhead. We've also applied for the SBA disaster relief loans too, and are hopeful they come through. We have the size and flexibility to can beer on a large scale, so we can adjust our business to take advantage of that market. Our distributor is adding Houston and Lubbock to our network. If our distribution network continues to grow we should be in good shape.

Unfortunately no matter how we navigate the market, we need our local bars, restaurants, and stores to survive. If we lose too many of those, we'll continue to struggle. So if you guys drink beer, support your local breweries as best as you can. It's expected as many as 60% will close. If you don't drink, support your local restaurants by getting takeout.

Were you able to apply for the PPP? We did and from what I know we got approved last night. That's a nice shot in the arm to keep you going for about a month or so, at least that's what it will be for us here.

Yes. Got our money the day the first wave ran out of money.