What You Need to Know Before Opening a Brewery

Send us Fan MailPresented 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.Subscribe to Beer Guys Radio on your favorite app: Apple Podcasts | Google Podcasts | Spotify | Stitcher  | RSSFollow Beer Guys Radio: Facebook | Instagram | Twitter | YouTube If you enjoy the show we'd appreciate your support on Patreon.  Patrons get cool perks like early, commercial-free episodes, swag, access to our exclusive Discord server, and more!