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Saucy Brew Works launches crowdfunding venture

The Plain Dealer  Cleveland logo The Plain Dealer Cleveland 6/30/2020 By Marc Bona, cleveland.com
a group of people sitting at a table: Cleveland-based Saucy Brew Works has launched a crowdfunding venture for its ambitious expansion projects. Buying shares translates to discounts. This photo is from 2017, the year the brewery opened. © Marc Bona, cleveland.com/The Plain Dealer/cleveland.com/TNS Cleveland-based Saucy Brew Works has launched a crowdfunding venture for its ambitious expansion projects. Buying shares translates to discounts. This photo is from 2017, the year the brewery opened.

CLEVELAND, Ohio - Saucy Brew Works has launched a crowdfunding venture to offer investment shares in exchange for discounts and other amenities.

The crowdfunding option - which is being offered via startengine.com - comes as the brewery is in the midst of several expansion projects. Its Pinecrest development location in Orange Village is set to open soon, while a larger event space and production facility is planned for Independence adjacent to Topgolf. A pair of out-of-region restaurants in Columbus and Detroit are slated to open by the end of 2021.

Shares are $1 apiece. The crowdfunding approach offers perks in line with investment levels ranging from $100 (Tier 1) to $50,000 (Tier 9). Discounts are commensurate with the investment level. So for Tier 1, patrons receive a bottle of barrel-aged beer, free beer on your birthday, brewery tour and 5% off in taprooms. Move up to Tier 3 ($500) and get 10% off in taprooms, 20% off merchandise, annual special six-pack release and hoodie. Jump to Tier 9 - the top level - and get to be brewer for a day, for a $50,000 donation.

As of Monday afternoon, more than 340 investors had ponied up almost $200,000. The investment options opened last week and run for three months.

An initial 'early bird' phase, which ends this week, offers 5% bonus shares.

It's the first crowdfunding venture for the brewery, which was founded in 2017 and is located at 2885 Detroit Ave., in Cleveland's Hingetown neighborhood. It also has a presence in Rocket Mortgage FieldHouse. Head brewer is Eric Anderson, who co-founded the brewery with Brent Zimmerman.

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I am on cleveland.com’s life and culture team and cover food, beer, wine and sports-related topics. If you want to see my stories, here’s a directory on cleveland.com.

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