What You Need to Know Before Opening a Brewery

Presented by the Georgia Craft Brewers Guild the "Dreamer's Workshop" is a two-part series aimed at educating breweries-in-planning (or dreaming) on navigating the process of opening a brewery.  Aimed at Georgia-based brewers, most of the information will be valuable to brewers in every state.

In Part 1 we'll hear from experts in the legal, banking, and accounting/tax fields.

PANELISTS

• Taylor Harper | TFH Beverage Law
• Jason Sleeman | Fifth Third Bank
• Pat Tuley | Porter Keadle Moore Accountants

TOPICS INCLUDE

• LEGAL
  • Operating within the three-tier system
  • Tied-house laws
  • Franchise law
  • Licensing and permitting
  • Distribution and selecting a distributor
  • Brand registration / ATT-104 filing
• FUNDING AND BANKING
  • Credit and background checks
  • Equity injection
  • Investors
  • Construction costs
  • Location selection
  • Equity vs debt
  • Choosing the right size loan
  • Financial guarantees
  • Collateral
  • Repayment sources and terms
  • Managing growth (slow start vs growing too quickly)
  • Financial repercussions of quality issues
  • Understanding your competition
  • Evaluating your experience level
  • Cost of labor
• ACCOUNTING, TAXES, AND CORPORATE ENTITIES
  • "First things first"
  • Shifting objectives as your business grows
  • Choosing a brewery or brewpub, financial considerations
  • Crafting a business plan
  • Evaluating capital needs
  • Choosing the right funding sources
  • Evaluating the proper use of funds
  • Choosing your business entity (LLC, LLP, S-Corp, C-Corp)
  • Partnering with the right professionals (Banker, CPA, Attorney)
  • Understanding tax structures
  • Choosing the right accounting software

Be sure to check out Part 2 of the Dreamer's Workshop series where we talk with professional brewers about what they wish they'd known before starting their brewery.

See omnystudio.com/listener for privacy information.

Thanks for listening to Beer Guys Radio! Your hosts are Tim Dennis and Brian Hewitt with producer Nate "Mo' Mic Nate" Ellingson and occasional appearances from Becky Smalls.

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