From Open Forum: building a beercraft empire by Jim Koch
This is a story of Jim Koch who built the Boston Beer Company in 1984, at the age of 34, after he got tired of a corporate job. The family has been engaged in beercraft in 1800 but the beer mass production in 1900 forced that business into obscurity.
Armed with grandfather's beer recipe, Jim started the business with SBA loan of $l50,000 and and same amount of his own money. His initial product was Samuel Adams Boston Lager. The Boston Beer Company
His initial objective was to sell 5,000 barrels and $l,200,000 in the first five years; he was able to achieve that in 5 months. (Wow)
The niche that he entered was rich flavorful beer that did not exist at that time. All the beer then was light and watered down
They now sell 2.5 million barrels a year and employ more than 750 people
His start up story is interesting.
He is paying forward his success with Brewing the American Dream Program. It has helped/coached beverage entrepreneurs. Since its founding in 2008, it has helped 3,000 entrepreneurs and dispensed loans to 150 entrepreneurs.
Open Forum and Boston Beer empire building
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