What Happened to MobCraft Beer after Shark Tank?
What is MobCraft Beer?
MobCraft Beer is a microbrewery that invites beer recipe submissions. Every month, the recipe with the most votes or pre-orders will be made. Anyone who orders a new recipe has the option of picking it up at the MobCraft brewery or having it shipped to them when it’s ready.
In 2011, Henry Schwartz founded MobCraft Beer with the idea of a crowd-sourced brewery. Henry started his business career in 2005, when he co-owned and operated a skateboard shop in Wisconsin. Later in college, Henry took up brewing as a hobby.
Over time, his brew creations grew in popularity. That is when he decided to turn it into a company. Currently, Henry is in charge of MobCraft operations, while Andrew works as a consultant for MobCraft.
Who is the founder of MobCraft Beer?
Henry Schwartz founded MobCraft Beer in 2011. Henry and Andrew sat in Henry’s basement on a frigid winter day in Madison, Wisconsin, in 2012.
This is when Henry’s dream of being a people’s brewer and having locals design all of their recipes came true.
When MobCraft was founded, it began producing beers such as Eggnostic, Arabian Date Night, and Ball & Chain Imperial IPA. MobCraft was the first company to exploit Wisconsin’s new Crowdfunding law, which went into force in 2014.
MobCraft is the most successful crowd funded beer in history, despite the fact that it was funded by Craft Fund, a Wisconsin-based Crowdfunding firm.
Wisconsin was a forerunner in creating an investment crowd financing law that allows investors to become equity partners in the businesses they fund. MobCraft Beer was formed by 52 “co-owners” with a $75,000 investment.
The first three weeks of each month are set aside for voting on a set of recipes. The majority of beers can be delivered within four weeks, although some may take longer.
The award-winning beer is available in four-packs for around $25. MobCraft Beer is also available across Wisconsin and at two locations in Illinois.
What Happened to MobCraft Beer at Shark Tank pitch?
Henry Schwartz, co-owner of MobCraft Beer, seeks investment for their Crowdfunding/beer platform and microbrewery in Shark Tank episode 727. Schwartz wishes to increase his geographical dispersion with the help of a Shark.
Henry quickly entered the Shark Tank, asking for $400,000 in return for a 16 percent ownership in his MobCraft Beer, worth $2.5 million.
Before handing out six sample beers to the Sharks, he outlines how MobCraft mixes crowdsourcing with artisan beer. The Sharks had mixed emotions about the flavors.
Mark Cuban believes that his social media fans would vote for the “sardines and chocolate chips” beer, but Henry reveals that the “votes” are actually pre-orders. At $25 for four 20-ounce bottles of beer, gag votes appear impossible.
Since the brewery’s founding in 2013, Henry has sold $280,000 of the $350,000 in total sales of MobCraft beer. He expects sales of $500,000 this year but anticipates a loss of $28,000 owing to the construction of a new facility.
Kevin O’Leary was opposed to the idea of building a new facility. According to him, local craft beer brewers sometimes operate at 40% capacity, and MobCraft could leverage existing equipment by renting or leasing brewery space or completely outsourcing production.
Henry believes that his customers “want to see beer brewed in the United States.” For the build out, he has a bank commitment for a $1.9 million loan. A 24 pack of beer costs $28 to make and $48 to sell at retail.
Robert Herjavec admits that he was “not a beer man.” He exits. Lori Greiner agreed. She’s not coming back since her “doesn’t know enough about beer.”
Daymond “He despises beer, therefore he was helpless to assist him,” said John, the next to exits.
Mark Cuban likes beer, but he’s a “Bud Light man.” He is not a fan of craft beer and has opted to abstain from it.
Kevin O’Leary was the sole survivor of the Sharks. He tells Henry that he’s “created this amazing plan to capitalize on this really hot trend” and that he “could earn a ton of money riding this wave,” but he despises the idea of opening a new facility given the plethora of current microbreweries.
Kevin exits because Henry was adamant about pursuing his idea to construct a specialist center. Finally, he exits the Tank without a Shark deal.
What Happened to MobCraft Beer After Shark Tank?
Despite the Sharks’ dissatisfaction with Henry’s ideas, he persisted with the building, which was set to be finished in January 2017. Kevin O’Leary was outvoted by 49 investors, and the brewery will launch in late June or early July with their help and a $150,000 SBA loan.
Only time will tell if MobCraft Beer will prosper despite its setback on Shark Tank, but die-hard fans will find the suds worth the wait.
In a 2021 check-in, the brewery building is a big success. In their taproom, they provide pizza, sandwiches, and other pub fare. Restaurants appear to have weathered the Covid-19 epidemic and are back in operation.
As of February 2022, the company is still in operation and earns $2.5 million each year from the crowd funded beer.
Competitors of MobCraft Beer
Locavore Beerworks and New Realm Brewing are two of MobCraft Beer’s competitors.
Net Worth of MobCraft Beer
During and after the pitch, the firm was valued at $2.5 million. Since then, the company’s net worth has been estimated to be $6 million.
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MobCraft Beer FAQs
What exactly is MobCraft Beer?
MobCraft Beer is a microbrewery that accepts proposals for new beer recipes. It makes the recipe with the most votes or pre-orders each month. Anyone who orders a new recipe has the option of picking it up in person at the MobCraft brewery or having it shipped once it is finished.
Who is the inventor?
MobCraft co-founder Henry Schwartz is a craft beer enthusiast. He began producing beer with his pals after taking an online course to understand the procedure.
How much money was sought on Shark Tank?
He was seeking for $400,000 for a 16 percent stake in the firm.
Did he make a deal?
He didn’t strike a deal with the sharks.
Is MobCraft Beer still in operation?
Yes, MobCraft Beer is still in operation.
What is the monetary value of MobCraft Beer?
As of February 2022, the company’s net value is predicted to be $6 million.
What exactly are the components of MobCraft Beer?
Malted barley, hops, and yeast are among the components.
How much do they cost to buy?
The brew retails for $28 and $48.
Where do the ingredients for MobCraft Beer come from?
Their ingredients are sourced from Wisconsin producers such as farmers and other small companies.
How does MobCraft function?
After creating an account on the site, users may enter new recipes in the contest area and track the progress of existing beers in development. MobCraft brews the most popular recipe each month, and extras are instantly added to their basket when the beer is finished and ready for distribution.
Is MobCraft Beer safe to consume?
The beer is safe to consume. Some of the components are organic and packed with nutrients.
Is MobCraft Beer shipping?
They are in the process of shipping.
What is the shipping cost of MobCraft Beer?
Customers will be charged a fixed rate of $5.99 for shipping.
What exactly is the MobCraft Beer website?
The website URL for MobCraft Beer is www.mobcraftbeer.com.
How can I make a payment for MobCraft Beer?
Customers can pay using PayPal, a credit card, a debit card, or a check.
What is the email address for MobCraft Beer?
[email protected] is MobCraft Beer’s email address.