In the past year, Wichita Falls Central Business District has witnessed a commercial revitalization with nearly a dozen restaurant, bar and market openings. Wichita Falls Brewing Company (“WFBC”) will be at the forefront of the boom, making and serving multiple styles of craft beer and providing the community a spacious and welcoming place to call their own. The opening will be led by award-winning head brewer, Matt Bitsche, the founding brewer behind Austin’s Infamous Brewing.
WFBC will fill a market in need of a serious craft brewpub with scalable production capabilities. Equally important, the brewery will give the town a product and place to call its own. Patrons will enjoy a glass-lined taproom with full view of the brewing process and a beautiful beer garden, all enclosed in a family-friendly layout and design.
In addition to the taproom and brewery, two private dining spaces with regular food options will be available to patrons. The city of Wichita Falls has an impressive food truck scene, and the brewery plans to have a permanent food truck presence, serving daily. In addition to in-house brews and other domestic beers, a wide selection of non-alcoholic beverages will also be available.
WFBC sits comfortably by the office buildings and emerging residential real estate of downtown. Bistros, shops, cafes and pubs all help to generate foot traffic. So too does the food truck park just one block east of the brewery.
Distribution will also comprise an important portion of the business. WFBC expects to produce and sell over 700 barrels a year, including distribution to local businesses and nearby towns. Distribution and revenues generated from outside the town will also serve the brewery’s larger vision of promoting pride in Wichita Falls and the greater Texoma region.
WFBC plans to open to the public in the Spring of 2018.
Click here to view the Issuer's SEC Form C filing.
The total cost of the project will be approximately $725,000. The Issuer expects to fund the buildout with approximately $55,000 in tenant improvement contributions, $40,000 in a city 4B grant, $205,000 in equipment financing, $300,000 from private investors, and a maximum of $125,000 through this NextSeed offering.
Proceeds from the NextSeed campaign will be put towards the final renovations to the event space, bottling line upgrades, and the purchase of lab equipment for monitoring quality and yeast health.
Co-founder Russ Reynolds standing outside the space in October 2017
|Principal||Investment Multiple||Maturity*||Total Payment*|
Once the Issuer commences operations, it will share a percentage of each month’s gross revenue with the investors as a group until they are paid in full.
Each investor will receive its proportionate share of the monthly payments made to the investors as a group.
Let’s assume that the total amount raised through this offering is $125,000 and the Issuer is committed to sharing 7.5% of its gross revenue.
If Investor A invested $2,500 of the $125,000 that was raised by the Issuer, Investor A is entitled to receive 2.0% of each monthly payment made to investors.
Therefore, if $4,500 is paid to investors for month X, Investor A is paid $90 for month X.
* The calculations above are mathematical illustration only and may not reflect actual performance. They do not take into account NextSeed fees of 1% on each payment made to investors. ... Read More The exact length of time that it will take the Issuer to pay each investor in full cannot be known in advance since the Issuer's actual revenues may differ from its reasonable forecasts. If any balance remains outstanding on the maturity date, the Issuer is contractually required to promptly pay the entire outstanding balance due to each investor. Payment is not guaranteed or insured and investors may lose some or all of the principal invested if the Issuer cannot make its payments. Read Less
WFBC will fulfill an emerging need in the Texoma region, an open-to-all craft brewpub. Local residents will come to enjoy their hometown ales just as their city is seeing a commercial boom.
Similar sized towns with comparable demographics in Texas have proven to easily support brewpubs of this size. Given these comps between patrons and its distribution, WFBC expects to see annual sales nearing $1M in the next five years.
Revenues will be primarily driven through on-site beer sales, distribution of the product throughout the region, and additional food and beverage sales in the taproom. Families will be encouraged to enjoy WFBC together. The space and layout will be designed as a family-friendly destination, complete with games and outdoor playscapes for the under-21 set.
On the cost side, labor demands have been reduced through operational efficiencies built into the business. The brewing process has been developed with a fully automated system, allowing an individual to brew a batch alone. Further, counter order service in the taproom, a permanent food truck and a contracted distributor will also ensure that labor costs are comparatively low.
The brewery has also reached a generous “lease-to-own” agreement on the brew system. The arrangement allows for a flexible first year in which WFBC will only be paying interest on the equipment.
WFBC will also have the benefit of a graduated scale on rent, keeping costs especially low in the first nine months.
Numbers have shown that the craft brewing industry sees fairly level sales throughout the year, including times when other industries hurt badly (i.e. the recession). The beer trend has slowed only slightly as 35-44 year old consumers are migrating to wine and spirits. Aware of this and committed to serving the whole community, the taproom will also serve wine and food. Discussions have started on distilling liquor in the future.
Wichita Falls Brewing Company will be located in the heart of downtown at 701 Indiana Ave, Wichita Falls, Texas 76308.
Wichita Falls is an historic and family-oriented town centrally located between Dallas-Fort Worth and Oklahoma City. An international investment in manufacturing has brought hundreds of thousands of professionals to the Texoma region. The majority of Wichita Falls locals fall squarely into the 25-54 year-old range.
WFBC will be surrounded by many other businesses with the same goal: to breathe new life into the Wichita Falls Central Business District. Major buildings are undergoing renovations with plans to add residential real estate, markets, restaurants, bars and retail locations. The city council has also appointed a downtown development committee to improve sidewalks and streets, enforce codes and determine the most efficient ways to attract other major businesses in the area.
New housing subdivisions have also been approved in recent months, continuing Wichita Falls population growth efforts and indicative of the region’s increasing popularity.
Matt has come home to Texoma to launch this new venture. He will be responsible for brewing, distribution and brewery operations. Founder of Austin’s Infamous Brewing brewery and distributor, Matt built the company from scratch to a worth of $4.5M in just five years. His beers have been featured in The New York Times and have won numerous national awards.
Russ is responsible for business planning and marketing. He earned his B.A. and Business Foundations Certificate from the University of Texas and his MBA from Trident University International. A career Air Force pilot, Russ recently co-founded the University of Texas “AFROTC Det. 825 Alumni Network Scholarship” and has so far raised over $10k in memory of a fallen comrade. He shares a desire to grow this company while transitioning to the reserves and making Texoma home.
March 20, 2018
Great news: Wichita Falls Brewery is opening March 30th! We passed our Fire Suppression Inspection, and our CO Inspection is next week. We anticipate this final inspection will go smoothly, and we can hit our early opening date. We also received some exciting press on the WFBC Mural and a look into how we’re preparing for our opening.
Our project is not only important to us as business owners, but it is an important part of the revitalization of Wichita Falls downtown. So we are incredibly grateful to the investors that have and continue to invest in our vision.
March 5, 2018
Our city of Wichita Falls is looking forward to the eminent opening of our brewpub – check out the press we received from News Channel 6. We are just one part of the Wichita Falls downtown revitalization and look forward to contributing to its growth.
Source: News Channel 6 Wichita Falls “Wichita Falls Brewery Co. close to opening its doors”, published on Mar 2, 2018 (News Channel 6 reporter Alex Achten)
February 27, 2018
We are excited to announce that Wichita Falls Brewing Company has filled out 3 out of our 4 fermenters with a Blonde Ale, an American Wheat, and an American Pale Ale! They will be followed very shortly by an American Brown Ale, IPA, and Double IPA.
Final inspections start as early as next week and our restroom construction is nearing completion.
We are now poised to open as early as mid-March with our newly hired team of beer servers and managers, all of which have extensive experience with craft beer service. Standby and stay tuned for information about soft opening dates!