Would You Pay $1,000 Once to Get Free Beer for Life?
J Thoendell stashed this in Food
People who invested $1,000 receive free in-house beer for the rest of their lives, or as long as the place stays open. People could also receive 0.1 percent nonvoting equity in the company for every $1,000 invested. Or for $5,000, investors get 0.5 percent equity and free in-house beer for life. The brewpub, now a registered LLC, hit its goal of $220,000 through the 46 people who chose the first option, 42 who picked the second, and 30 who took the third, all finding out about the opportunity by word of mouth.
Northbound has now been open for almost two years and is thriving. The investors didn't drink them dry. The restaurant is giving away some 17 beers a day, and the cost is low, at just 40 cents a beer. Plus, investors aren't just going to the brewpub for a beer by themselves—they order food, bring people, or maybe order a scotch after dinner. For the investors, it's also about the sense of ownership. Or, as Johnson explains, "We have an army of over 100 people who are our cheerleaders."
Yes! Yes!! Shut up and take my money!!
Agreed! I love the idea of people becoming owners in a fun (non voting) way which leads to evangelism of the business.
Trying to get people to feel like owners is a challenge. You can give them stock but in the beginning stock has no value not too mention no dividends in sight.
FREE BEER FOR LIFE (very clever tag) gives them something tangible. Also the restriction is of one per day was a critical component. Nice move to take one of Kickstarters core values and use through word of mouth.
I agree and I wish more people would adopt this clever tag!
I'm always cautions of "for life" agreements. Things change...
Haha, not for YOUR life, Sergey. For the life of the beer company.