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MICROBREWS “For the curious” Chaz Daum Richard Herbert Annie Ljunggren Jessica Sisco

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This is a proposal for a beer tasing room in San Luis Obispo created as a quarter-long entreprenuership project at Cal Poly.

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Page 1: Brew Presentation

MICROBREWS“For the curious”

Chaz DaumRichard HerbertAnnie Ljunggren

Jessica Sisco

Page 2: Brew Presentation
Page 3: Brew Presentation

Definition Microbrew/Craft Beer

•SMALL: Less than 2 million barrels/year

•INDEPENDENT: Max 25% ownership of non-microbrewer

•TRADITIONAL: has at least 50% of its volume in either all malt beers or in beers which use adjuncts to enhance rather than lighten flavor

America’s World Class Beer. http://www.samueladams.com/company.aspx

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BEER Spending

• CA ranked #1 for beer shipped per capita• CA ranked only 45th in the nation for per capita • CA consumption 26.9 gallons per person/year.• Craft and specialty beers are growing

– Michelob Ultra dominates by volume.

Beer Institute, Shipment of Malt Beverages and Per Capita consumptions. http://www.beerinstitute.org/BeerInstitute/files/ccLibraryFiles/Filename/000000000738/03-07%2021%2B%20Per%20Cap.pdf

Johnson, Julie. "What's brewing? Consolidation, pricing pressures, new flavors, light brew strength, superpremium power, more distributor involvement--it all adds up to positive sales growth and a changing landscape for the U.S. beer market.(Cover story)." Beverage Dynamics 120.5 (Sept-Oct 2008): 22(7). Expanded Academic ASAP. Gale. CSU San Luis Obispo. 15 Oct. 2008

Page 5: Brew Presentation

Market Growth

• The American beer market - stagnant for several years -- domestic beer sales were down 0.4% from last year.

• However, not the case for microbrewers

Goral, Tim, Annual Microbrewery report. Bnet Business Network, 1993. http://findarticles.com/p/articles/mi_m3469/is_/ai_13977664

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Market Growth, cont’d

• Continuous growth since 1980’s• 2006 Growth rate: 11.7%• 3 year Growth Rate: 29.5% • The microbrews stand for about 8% of

national beer production.• "The microbrewery movement is going like

hot cakes, especially on the west coast. You keep thinking it is going to top off but it still hasn't, and it doesn't look like there is an end in sight yet“ - Steve Dinehart, president of Chicago Brewing Co

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Microbrew Market Growth

Year1947-2006

Brewer’s Almanac 2007

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Market Growth cont’d

• The future looks bright for the microbrew industry

• As with any "new" industry, there will likely be a period of adjustment.– Segments:– Solid core of consumers who will continue to buy the

brands. – The other segment is based on trend, and could

artificially inflate demand before the trend wears off.– Example: Corona

Page 10: Brew Presentation

Competitiveness of the Industry

Porter’s 5 forces

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Rivalry Among Existing Firms

• Bars have to compete for customers• Very little fierce rivalry, no price wars

–Lots of product differentiation –Bars attract different customers and

don’t have to interact with each other much.

Page 12: Brew Presentation

San Luis Obispo Competition

• Direct competitors– Beer tasting rooms

• Central Coast Brewing• Monterey Street Wine Company

– Weekly beer tasting events at some places

• Indirect competitors– Approx 12 successful bars– Approx 20 wineries offering wine tasting.

San Luis Obispo Country Wineries. http://www.sanluisobispocounty.com/listings/index.cfm?action=showsub&catId=8&subcatID=37

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Threat of New Entrants

• Growing demand since end of 1980’s• The supply of draft beer has doubled the number

of microbreweries and brewpubs since 1995.• An increased frequency of brewpubs indicates a

moderate threat of new entrants but also greater opportunity through increased interest from consumers.

California Brewpubs and Microbreweries. http://www.beer100.com/brewpubs_a_to_k/california.htm

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Threat of Substitute Products

• Other beer tasting rooms• Bars/Nightclubs• Wine tasting rooms• Wineries• Liquor stores that sell craft beer at comparable

prices

– Many potential substitutes, but we are generally the cheaper alternative

Page 15: Brew Presentation

Bargaining Power of Suppliers

• Small-scale, local production– E.g. Cayucos Beer

• Relatively weak financial bargaining power from small suppliersBUT!– Delivery– Payments– Logistics

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Bargaining Power of Buyers

• Considering the large number of craft beers on the market, the bargaining power of buyers is strong.

• More likely to buy “conventional” beer rather than craft beer. – Anheuser-Busch

• Our business is about trying new things, not coming in for the same brews– Buyer power may not be relevant

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Target Market

• People from the age of 25-35– 66% of the people in San Luis Obispo County are over the age of

25.– This age group is out of college with a steady and reliable

income.• Mature college students

– Cal Poly had approximately 19,777 students in 2007.– Have a limited income but usually are willing to spend money

on alcohol.– Substitute for wine tasting and beer hopping.

Cal Poly Public Affairs. Quick Facts About Cal Poly, 2007. http://calpolynews.calpoly.edu/quickfacts.html

U.S. Department of Commerce, U.S. Census Bureau. (2007). San Luis Obispo Education. http://factfinder.census.gov/servlet/STTable?_bm=y&-context=st&-qr_name=ACS_2007_1YR_G00_S1501&-ds_name=ACS_2007_1YR_G00_&-tree_id=307&-redoLog=true&-_caller=geoselect&-

geo_id=05000US06079&-format=&-_lang=en

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Cal Poly Consumption

• 46.5 percent of students reported drinking alcohol multiple times per week, with 8.7 percent drinking almost daily (2005).

• Compared to other California colleges, Cal Poly stands out as above average.– "When we look at alcohol consumption by students, Cal

Poly is among the highest in the CSU system," said Martin Bragg, psychologist and director of Cal Poly Health and Counseling Services.

Barbieri, Patrick, Poly’s alcohol consumption above average. Mustang Daily, May 2008. http://www.mustangdaily.net/home/index.cfm?event=displayArticlePrinterFriendly&uStory_id=9a716084-35b2-4d4b-91b3-7268d96a82a1

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San Luis Obispo Population

Age Category Total Population (Percent

Male (Percent) Female (Percent)

Total 262,436 136,467 (52%) 125,969 (48%)

18-24 41,397 (16%) 23,098 (56%) 18,299 (44%)

25 and over 171,755 (65%) 87,170 (51%) 84,585 (49%)

25-34 33,098 (13%) 18,953 (57%) 14,145 (43%)

35-44 32,789 (12%) 17,235 (53%) 15,554 (47%)

45-64 68,086 (26%) 34,267 (50%) 33,819 (50%)

65 and over 37,782 (14%) 16,715 (44%) 21,067 (56%)

U.S. Department of Commerce, U.S. Census Bureau. (2007). San Luis Obispo Population. http://factfinder.census.gov/servlet/ACSSAFFPeople?_sse=on&_submenuId=people_1&_ci_nbr=&qr_name=&ds_name=&reg=&_industry=

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Education (Bachelor’s Degree or Higher)

U.S. Department of Commerce, U.S. Census Bureau. (2007). San Luis Obispo Population. http://factfinder.census.gov/servlet/ACSSAFFPeople?_sse=on&_submenuId=people_1&_ci_nbr=&qr_name=&ds_name=&reg=&_industry=

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GDP• Total GDP for San Luis Obispo-Paso Robles in all

industries: $10,141 million.– Food services and drinking places: $284 million

• U.S. GDP - real growth rate: 3.2% (USA 2006 est.)

• U.S. GDP - per capita: purchasing power parity - $44,000 (USA 2006 est.)

• In 2006 the per capita of personal income was:– San Luis Obispo-Paso Robles, CA (MSA) $35,872

Bureau of Economic Analysis. Regional Economic Accounts, Chart CA1-3, April 2008. http://www.bea.gov/regional/reis/drill.cfm

Bureau of Economic Analysis. Regional Economic Accounts, GDM by metropolitan area, 2008. http://www.bea.gov/regional/gdpmetro/action.cfm

The World Fact book. US Central Intelligence Agency, October 2008. https://www.cia.gov/library/publications/the-world-factbook/print/us.html

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External Uncontrollables Economic issues: Recession

• With roughly $50 billion in annual sales, the beer industry and alcohol industry are fairly recession-resistant. • “You don’t want to punish yourself just because the economy is bad”

• 13% of consumers said the economic downturn had significantly affected how much they spend on beer, but almost 50% said there had been no effect on how many six-packs they were purchasing

• More than 16 million barrels of domestic beer were sold in the United States in July, and annual sales through that month were up 1.4%

• Sales of craft and “super-premium” beers such as Michelob and Rolling Rock have jumped by double digits this year.

Mui, Ylan Q, Bad Time Brewing? LA Times, 2008. http://articles.latimes.com/2008/sep/11/business/fi-beer11

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• Overall alcoholic beverage consumption has been in decline for more than a decade– Beer consumption peaked at 36.6 gallons per capita in 1980

and has declined ever since. – Current CA beer consumption is 26.9 gallons per person/year.

• Increasing number of people who are anti-drunk driving.

Demographics:• Since the early 1980s, The beer industry’s core market, males

aged 21–34, has been shrinking for years.

Kalorama Information, The Market for Craft and Specialty Beer. March 1997. http://mythic.lib.calpoly.edu:2352/search/results.asp?prid=897840883&query=specialty+beer&categoryid=165&cmdgo=Go

External Uncontrollables Social Trends: Health Consciousness

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Mission Statement

We strive to break from the established mold and offer a wide

variety of innovative

brews for the curious to enjoy and explore lesser known microbreweries.

Page 27: Brew Presentation

Primary Business Challenge

• Differentiate ourselves from bars and liquor stores• Select appropriate microbrews to partner with• Find an affordable space in the downtown area with

enough storage space

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Specific Objectives

• Open a beer tasting business in downtown SLO• Maintain steady growth and profitability• Promote unknown microbrews and help

people discover the enormous variety of brews• Obtain a customer base• Create a sophisticated yet enjoyable

environment comparable to wine tasting rooms

Page 29: Brew Presentation

Licensing and Taxation

• Beer license is $200 with a $226 annual renewal fee. •A lot of paperwork is involved but not as difficult to obtain as a liquor license

•Business license in SLO downtown: assessment fee and new applicant tax totals $294

•Beer tax burden for consumers is 65% higher than average tax for the US

•Often because it’s produced in the US with inputs from the US “Sin taxes” on beer

Department of Alcoholic Beverage Control. http://www.abc.ca.gov/Permits/Priority_Summary%2014Oct08.pdf

2008 San Luis Obispo Priority drawing notice. http://www.abc.ca.gov/Permits/2008_Priority/2008%20San%20Luis%20Obispo%20Drawing%20Notice.pdf

SLO Chamber of commerce. http://www.slocity.org/finance/businesstax/businesstaxintroduction.asp#How%20much%20is%20the%20license

The beer institute. Te tax burden on the brewing industry. http://www.beerinstitute.org/BeerInstitute/files/ccLibraryFiles/Filename/000000000726/The%20Tax%20Burden%20on%20The%20Brewing%20Industry.pdf

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• Product and atmosphere. • Range from high-end foreign imports to

homegrown local startup brews. • The variety is refreshing and appeals to the thirst

for change in an established industry. • Few businesses allow lesser known brews. • To compete you have to be one of the big guys

and the niche for upscale brews is even smaller. • Consumers get variety

4 P’s Product

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•$5 Tasting fee for 10 2oz beer tastes•Priced based on market value (wine and beer tasting competitors)

•6-packs average $7-$18 to purchase•Our 6-pack prices will be slightly higher than liquor and grocery stores but will have a greater variety and quality to offer•Raw materials costs have increased

•Energy costs and aluminum have prompted brewers to raise prices and sales have fallen by 8% in 2007.

4 P’sPrice

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•Currently 4-6 possible locations available •Smaller businesses average $1-3.50/sq foot•The average rent available downtown is:

3440 S. Higuera Ste. 130; 1718 sq feet; $3200/mo570 Higuera Ste. 120; 1040 sq feet; $1872/mo570 Higuera Suite 110; 1963 sq feet; $3435/mo1357 Monterey; 2265 sq feet; $2831/mo

•Rents in downtown SLO has been experiencing upward pressure; by next year rent may be $4 per square foot compared to an average of 2$ due to construction to make buildings earthquake safe.

City of San Luis Obispo Economic Development. http://www.ci.san-luis-obispo.ca.us/economicdevelopment/retailspace.asp

4 P’s Place

Page 33: Brew Presentation

• Website with our extensive variety– Membership Opportunities with special discounts and

exclusive information

• Weekly specials and showcases• Group discounts • Variety Pack Sampler $10 for 20 tastes

– Ex: Sierra Nevada Brewery has sample platter of 18 2oz cups for $11

• A lot of our advertising will also come from microbreweries advertising their own products.

4 P’sPromotion

Sierra Nevada Brewery, Chico, Ca

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SMART

• Specific: Open business, maintain steady growth, promote microbrews, obtain customer base, create appropriate environment

• Measurable: Successful opening and partnering with breweries, customer loyalty program to keep track of customer base

• Attainable: Steady growth may be difficult in the current state of the economy, will need more experience in industry to accomplish goals of partnerships

• Realistic: It will be expensive to start up• Timely: Once we get the finances it should be

approximately one year before the business could be up and running

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SWOT Analysis: Strengths• Standard bars do not accommodate small microbrews

but we do.• Location gives us the opportunity to attract seasoned

wine tasters curious about brews • Advertising done by microbreweries help promote our

business with little cost to us• Can understand and reach to target market because

similar to ourselves• Not as expensive as wine tasting with risk of wasting

opened bottles• Unique idea gives us instant appeal

Page 36: Brew Presentation

SWOT Analysis: Weaknesses

• No experience and limited knowledge of the industry.

• On-hand inventory requires substantial storage.• No customer loyalty or well known company

name to appeal to customers.• Economies of scale• Purchasing power of our consumer segment is

relatively low.• One-time-experience?

Page 37: Brew Presentation

SWOT Analysis: Opportunities

• New niche• No actual competitors in SLO county, wine tasting and bars

attract different customers• Large college population between the ages of 21-26 (many

beer drinkers)• Availability of many local breweries to partner with• Cheaper alternative to wine tasting• Growing population and downtown expansion in SLO• Internet expansion opportunities• Downtown real estate available

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SWOT Analysis: Threats

• Large established bars = competition• Have to get permission from community• High start up costs• Downtown real estate is expensive.• The economy is in recession

– Beer is a luxury good.

• Reliant on suppliers.

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Target vs Non-targetGender Demographics

The target market contains more males than females, but both genders show interest in the business.

Target Non-target (N=146) (N=254)

Male 70% 62%Female 30% 39%

Page 41: Brew Presentation

Our target market drinks several times a week significantly more than the rest of the population.

Target Non-target (N=146) (N=254)

Several Times a Week 56.2% 45.3%Once a Week 22.6% 24.8%Several Times a Month 5.8% 8.5%Once a Month 5.5% 11%Never 0% 0.4%

Target vs Non-targetFrequency of drinking alcohol

Page 42: Brew Presentation

The majority of the people surveyed live in San Luis Obispo and about 15% live in the surrounding areas.

Target Non-target (N=146) (N=254)

SLO 85.6% 85.8%Morro Bay 3.4% 2.8%Pismo Beach 3.4% 2.8%Avila Beach 0% 0%Los Osos 2.7% 2.8%Other North County 2.7% 4.3%Other South County 2.1% 1.6%

Target vs Non-targetWhere consumers live

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Target vs Non-targetAge range of consumers

The main age range of the people surveyed are between the ages of 21-25. There are slightly more people in the targe group between 26-30.

Target Non-target(N=143) (N=250)

21-35 73% 75%26-30 15% 14%31-35 4% 3%36-40 1% 1%41-45 2% 2%46-50 3% 1%51-55 2% 2%55 and over 2% 1%

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Both the target and non-target consumers drink alcoholic beverages in similar locations. Non-target consumers prefer to go to wineries more than target consumers.

Target Non-target

(N=143) (N=250)

Bar or Pub 74% 72%Friend’s house 70% 65%Home 57% 56%Party 53% 55%Restaurant 39% 35%Wine Bar 3% 2%Winery 3% 6%

Target vs Non-targetWhere consumers drink alcoholic beverages

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Target vs Non-targetDrink beer when drinking alcohol

The Target rates draft and bottled beer and a wider selection of microbrews significantly more important than the non-target, otherwise both groups have similar preferences.

Target Non-target (N=143) (N=250)

All the time 42% 30%Most of the time 33% 33%Some of the time 18% 25%Rarely 6% 11%Never 1% 0%

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Target vs Non-targetExpected amenities

The Target rates draft and bottled beer and a wider selection of microbrews significantly more important than the non-target, otherwise both groups have similar preferences.

Target Non-target (N=143) (N=250)

Draft and bottled beer 81% 70%Snack/Appetizer menu 64% 60%Large selection microbrews 44% 33%TV screens 49% 43%Waitress/Waiter service 36% 37%Pool table 32% 28%Live entertainment 26% 28%Full food menu 23% 23%Large wine list 13% 16%Video games 2% 4%

Page 47: Brew Presentation

Target vs Non-targetWeekly alcohol spending

A greater portion of the target market spends over $30/week than the non-target market and a smaller portion of the target market spends less than $20 per week than the non-target market.

Target Non-target (N=143) (N=250)

Under $10 13% 21%$10-$20 29% 31%$20-$30 20% 17%$30-$40 18% 14%$40-$50 11% 8%Over $50 11% 9%

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Target vs Non-targetType of beer consumers drink

Customers in the target market prefer more Imported and specialty beers than the non-target, but both groups have similar ranked preferences for the beers they consumer.

Target Non-target (N=143) (N=250)

Imported beers 83% 74%Specialty beers 83% 66%Light beers 75% 74%Domestic Microbrews 73% 53%American lagers 59% 47%Imported microbrews 51% 37%Malt Liquor 22% 16%

Page 49: Brew Presentation

Target vs Non-targetAttributes of beer to purchase

The target market and non-target market both have similar rankings of important attibutes in purchasing beer. It is more important for target consumers that it is available on draft, and the calories in the beer are less important to the target consumer.

Target Non-target (N=143) (N=250)

Taste 96% 91%Low Price 48% 48%Available on draft 46% 35%Available in groceries and bars 42% 39%Brand Reputation 34% 34%% alcohol 27% 22%Imported 15% 15%Exclusive image 15% 10%Calories 12% 17%Limited production 12% 9%

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Agree Completely 41.4% 27.9%

Agree Somewhat 52.4% 51.0%

Disagree Somewhat 4.1% 15.9%

Disagree Completely 2.1% 5.2%

Target Non Target

(N=145) (N=251)

Target vs Non-targetWorth extra money for hand crafted brew

The target market believe hand crafted brews are worth the extra money more than the non-target.

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Target vs Non-targetInterest in SLO Microbrews

Our target market is more likely to use our service over the non-target market.

Target Non-target (N=146) (N=254)

Certain will use 37% 21%Almost certain will use 40% 20%Very probable will use 28% 16%Probably will use 13%Good possibility will use 11%Fairly good possibility will use 4%Fair possibility will use 0%Some possibility will use 5%Slight possibility will use 4%Very slight possibility will use 5%No chance will use 0%

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Target vs Non-targetReasons for attending SLO Microbrews

Our target market and non target market have similar views of why they would attend our business.

Target Non-target (N=146) (N=254)

Go with a group of friends 63% 60%Take a date to it 4% 5%Go with friends like a bar at night 20% 16%Dinner experience 3% 4%Special occasion place 10% 17%

Page 53: Brew Presentation

Target vs Non-targetProspected visits in three-month period

Our target market would come more times in a month than our non-target market customers.

Target Non-target (N=146) (N=253)

One to two times 40% 56%Three to four times 35% 26%Five to six times 22% 13%Seven to nine times 2% 1%More than nine times 1% 1%I would never use it 0% 3%

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Surveyed points of interest

“A local and easy way to taste beers you wouldn’t get at a bar”

“A cool way to try new beers and support local brewers”

“A good alternative to wine tasting”

“I like to drink beer”

“Learn about new beers... Try rare beers”

“Sounds like fun”

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Hourly Forecast

Optimistic

15 customers/hour$15/customerOpen 8 hours15*15*8=

$1,800/day$50,400/month$604,800

Likely

8 customers/hour$10/customerOpen 8 hours8*10*8=

$1,152/day$32,256/month$387,072/year

Pessimistic

5 customers/hour$5/customerOpen 8 hours5*10*8=

$400/day$11,200$134,400

Assumptions:Hours of operation: 1pm-9pm

Estimated 28 days/month

Page 57: Brew Presentation

Sales Forecast (Optimistic)Hours of operation: 1pm-9pm (so people can still eat dinner afterwards at a reasonable hour and main intention is not to be part of bar

hopping)

Pricing: $5 tasting fee $8 avg for a six pack. Assume $15/personTarget Market: 14% aged 25-34; 14% of 262,436= 36,741(Assume 70% of population drink alcohol)

=25,719(Assume 50% awareness)

=12,860 customers(trial interest is 56%)

=12860*.56=v (Assume customers go twice a month)

=v*2*$15

= $/month or $/year

Page 58: Brew Presentation

Hours of operation: 1pm-9pm (so people can still eat dinner afterwards at a reasonable hour and main intention is not to be part of

bar hopping)

Pricing: $5 tasting fee $8 avg for a six pack. Assume $10/personTarget Market: 14% aged 25-34; 14% of 262,436= 36,741(Assume 70% of population drink alcohol)

=25,719(Assume 35% awareness)

=9002 customers(Assume customers go once a month)

=9002*1=9002*$10

= $90,002/month or $1,080,024/year

Sales Forecast (Most Likely)

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Hours of operation: 1pm-9pm (so people can still eat dinner afterwards at a reasonable hour and main intention is not to be part of

bar hopping)

Pricing: $5 tasting fee $8 avg for a six pack. Assume $5/personTarget Market: 14% aged 25-34; 14% of 262,436= 36,741(Assume 70% of population drink alcohol)

=25,719(Assume 25% awareness)

=6430 customers(Assume customers go once every couple months)

=6430*.5= 3215 customers/month*$5

= $16,075/month or $192,900/year

Sales Forecast (Pessimistic)

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Positioning Statement

To recent college graduates between the ages of 25-34, SLO Microbrews is a beer tasting room that offers unique microbrews for a great price.

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Marketing Promotional Tools• Website showcasing our extensive variety

– Club membership with discounts, exclusive beers, and quarterly shipments

• Monthly specials– Email list– Newspaper ads– Display board inside

• Merchandise with logo- t-shirts• Slogan “for the curious”

– Strengthens brand and provokes interest

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Marketing Based on New Data…– 60% of the people surveyed claimed they would go to SLO Microbrews to hang out

with friends• Discounts for groups of 8 or more people

– ~90% of consumers surveyed said taste is the deciding factor when choosing a beer• Market campaigns focus on the variety of flavors available

– Specialty and imported beers were the most frequently preferred beers• These will be available

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Risk Analysis

• Economic recession decreases spending• May not be able to get financing because

people less willing to loan money in recession• Competition from established beers, may start

providing their own beer tasting in addition to the other services they have (wouldn’t be difficult for them to do)– First mover advantage isn’t strong

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To Taste, Or not to taste??

– Growing Industry and growing consumer interest– Good fit in SLO (57% of people surveyed would

very probably go)– Threats: high volume of substitutes and indirect

competitors– Weaknesses: Inexperience, costly, need a location

Conclusion

Page 65: Brew Presentation

BibliographyAmerica’s World Class Beer. http://www.samueladams.com/company.aspx California Brewpubs and Microbreweries.

http://www.beer100.com/brewpubs_a_to_k/california.htm The Free Encyclopedia, Microbrewery. http://en.wikipedia.org/wiki/Microbreweries San Luis Obispo Country Wineries.

http://www.sanluisobispocounty.com/listings/index.cfm?action=showsub&catId=8&subcatID=37

Goral, Tim, Annual Microbrewery report. Bnet Business Network, 1993. http://findarticles.com/p/articles/mi_m3469/is_/ai_13977664

Cal Poly Public Affairs. Quick Facts About Cal Poly, 2007. http://calpolynews.calpoly.edu/quickfacts.html

U.S. Department of Commerce, U.S. Census Bureau. (2007). San Luis Obispo Education. http://factfinder.census.gov/servlet/STTable?_bm=y&-context=st&-qr_name=ACS_2007_1YR_G00_S1501&-ds_name=ACS_2007_1YR_G00_&-tree_id=307&-redoLog=true&-_caller=geoselect&-geo_id=05000US06079&-format=&-_lang=en

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Bibliography ContinuedU.S. Department of Commerce, U.S. Census Bureau. (2007). San Luis Obispo Population.

http://factfinder.census.gov/servlet/ACSSAFFPeople?_sse=on&_submenuId=people_1&_ci_nbr=&qr_name=&ds_name=&reg=&_industry=

Bureau of Economic Analysis. Regional Economic Accounts, Chart CA1-3, April 2008. http://www.bea.gov/regional/reis/drill.cfm

Bureau of Economic Analysis. Regional Economic Accounts, GDM by metropolitan area, 2008. http://www.bea.gov/regional/gdpmetro/action.cfm

The World Fact book. US Central Intelligence Agency, October 2008. https://www.cia.gov/library/publications/the-world-factbook/print/us.html

Department of Alcoholic Beverage Control. http://www.abc.ca.gov/Permits/Priority_Summary%2014Oct08.pdf

2008 San Luis Obispo Priority drawing notice. http://www.abc.ca.gov/Permits/2008_Priority/2008%20San%20Luis%20Obispo%20Drawing%20Notice.pdf

SLO Chamber of commerce. http://www.slocity.org/finance/businesstax/businesstaxintroduction.asp#How%20much%20is%20the%20license

Page 67: Brew Presentation

Bibliography ContinuedThe beer institute. Te tax burden on the brewing industry.

http://www.beerinstitute.org/BeerInstitute/files/ccLibraryFiles/Filename/000000000726/The%20Tax%20Burden%20on%20The%20Brewing%20Industry.pdf

Beer Institute, Shipment of Malt Beverages and Per Capita consumptions. http://www.beerinstitute.org/BeerInstitute/files/ccLibraryFiles/Filename/000000000738/03-07%2021%2B%20Per%20Cap.pdf

Johnson, Julie. "What's brewing? Consolidation, pricing pressures, new flavors, light brew strength, superpremium power, more distributor involvement--it all adds up to positive sales growth and a changing landscape for the U.S. beer market.(Cover story)." Beverage Dynamics 120.5 (Sept-Oct 2008): 22(7). Expanded Academic ASAP. Gale. CSU San Luis Obispo. 15 Oct. 2008

City of San Luis Obispo Economic Development. http://www.ci.san-luis-obispo.ca.us/economicdevelopment/retailspace.asp

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