1agbusinessplans.usask.ca/files/BrewPub03/Saskatoon... · Web viewFloor plan of Saskatoon Brew Pub....

Saskatoon Brew Pub, Guy Keeler

Table of Contents

1.0 INTRODUCTION.............................................................................................................................. 51.1 OVERVIEW..................................................................................................................................... 51.2 MISSION STATEMENT...................................................................................................................... 51.3 GOALS AND OBJECTIVES................................................................................................................. 51.4 PROJECT BENEFITS........................................................................................................................ 6

2.0 POLICY............................................................................................................................................ 73.0 OPERATIONS PLAN....................................................................................................................... 7

3.1 LOCATION...................................................................................................................................... 73.2 WORK PLAN AND FLOW OF WORK...................................................................................................83.3 THE BREWING PROCESS................................................................................................................. 93.4 AVERAGE BUSINESS CYCLES........................................................................................................14

3.4.1 The Average Week..............................................................................................................143.4.2 The Average Month.............................................................................................................143.4.3 Special Considerations........................................................................................................15

3.5 CAPITAL BUDGET.......................................................................................................................... 15

4.0 HUMAN RESOURCE PLAN..........................................................................................................174.1 HUMAN RESOURCE STRATEGY......................................................................................................174.2 ORGANIZATION STRUCTURE..........................................................................................................174.3 JOB DESCRIPTIONS....................................................................................................................... 194.4 TRAINING..................................................................................................................................... 214.5 FUTURE HUMAN RESOURCES........................................................................................................22

5.0 MARKETING PLAN.......................................................................................................................225.1 MARKETING MIX........................................................................................................................... 225.2 SEGMENTATION, TARGETING AND POSITIONING..............................................................................23

5.2.1 Segmentation...................................................................................................................... 235.2.2 Targeting............................................................................................................................. 24

2.2.2.1 Industrial Workers..........................................................................................................................242.2.2.2 Young Professionals......................................................................................................................242.2.2.3 Middle Aged...................................................................................................................................242.2.2.4 Target Market Summary................................................................................................................25

5.2.3 Positioning........................................................................................................................... 255.3 SWOT ANALYSIS......................................................................................................................... 25

5.3.1 Internal Strengths and Weaknesses....................................................................................265.3.2 External Opportunities and Threats.....................................................................................27

5.4 MARKET ANALYSIS........................................................................................................................ 275.4.1 The Market..........................................................................................................................275.4.2 Competition.........................................................................................................................285.4.3 Customers........................................................................................................................... 30

5.5 MARKETING STRATEGY................................................................................................................. 315.5.1 Sales and Profit Objectives.................................................................................................315.5.2 Channels of Distribution......................................................................................................315.5.3 Pricing Policy....................................................................................................................... 315.5.4 Select Markets/Products/Service Mix..................................................................................325.5.5 Selling and Advertising........................................................................................................325.5.6 Marketing Plan Budget........................................................................................................33

6.0 FINANCIAL PLAN..........................................................................................................................336.1 SOURCES OF FUNDING................................................................................................................. 33

COMM 492.3 College of Commerce, University of Saskatchewan

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6.2 OPENING BALANCE SHEET............................................................................................................356.3 FINANCIAL SUMMARY.................................................................................................................... 356.4 ECONOMIC FORECAST..................................................................................................................366.5 SENSITIVITY ANALYSIS..................................................................................................................376.6 DIVIDENDS POLICY.......................................................................................................................386.7 UNIT COST OF PRODUCTION.........................................................................................................386.8 SUMMARY.................................................................................................................................... 40

7.0 CONCLUSION................................................................................................................................ 418.0 REFERENCES............................................................................................................................... 42APPENDIX A FINANCIAL PROJECTIONS.........................................................................................44


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List of figures

Figure 1. Floor plan of Saskatoon Brew Pub................................................................8Figure 2. The brewing process flow diagram. (Source: CDC Inc. Brewing Process from Grain to Glass,

2003)........................................................................................................................9Figure 3. Grain Mill. (Source: The Brewers’ Handbook, 2003)........................................................10Figure 4. Mash Tun. (Source: The Brewers’ Handbook, 2003).......................................................11Figure 5. Brew Kettle. (Source: The Brewers’ Handbook, 2003).....................................................11Figure 6. Heat exchanger and filtration system. (Source: Source: BrewTech Labs, Inc., 2003)........12Figure 7. Fermentation tanks. (Source: BrewTech Labs, Inc., 2003)............................................12Figure 8. Bright beer tanks. (Source: Sound Brewing Systems, 2003)............................................13Figure 9. Serving tanks. (Source: IDD Process & Packaging, Inc., 2003)..........................................13Figure 10. The organizational structure for the Saskatoon Brew Pub........................18Figure11. Pie chart showing percentage of revenue generated by each product......40


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List of Tables

Table 1. Estimated equipment costs..........................................................................15Table 2. Estimated working capital............................................................................16Table 3. Estimated building and furnishing costs.......................................................16Table 4. Estimated brewing costs of good sold..........................................................17Table 5. Estimated capital budget summary..............................................................17Table 6. Estimated wage and salary costs of employees for 5 years.........................21Table 7. Segmentation of the market.........................................................................23Table 8. The average amount of money spent on alcohol/tobacco in Calgary, Regina,

and Saskatoon. (Statistic Canada, 2003).........................................................................28Table 9. Saskatoon Brew Pub Competitors...............................................................29Table 10. Marketing Costs.........................................................................................33Table 11. Table showing the sources of financing.....................................................34Table 12. Opening balance sheet..............................................................................35Table 13. Sales Growth Forecast 2004-2013.............................................................36Table 14. Summary of net income, end of year cash flow and dividends paid when

the Saskatoon Brew Pub receives 170 customers per day.................................37Table 15. Summary of net income, end of year cash flow and dividends paid when

the Saskatoon Brew Pub receives 149 customers per day.................................37Table 16. Material cost of production of house brew..................................................38Table 17. Total cost of production of house brew......................................................39


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1.0 Introduction

1.1 Overview

The Saskatoon Brew Pub is a new business venture to be set up in Saskatoon,

Saskatchewan. The founder of this venture is local crop consultant, Guy Keeler. The

increased demand for off farm income has caused avid interest in the value added

production of a commodity readily produced on the prairies, malt barley. The

Saskatoon Brew Pub will provide a link for those interested in investing in the value

added production.

The ideal growing conditions in Saskatchewan have allowed it to become the second

largest malt barley producing province in Canada. Saskatchewan produces an

average of 5.48 million metric tonnes of malt barley per year (approximately one

quarter of Canada’s malt barley production). With this large tonnage of barley being

produced it is thought to be beneficial for the barley to stay within the province and

have value added here instead of allowing the manufacturing to occur elsewhere.

1.2 Mission Statement

“To profitably produce a high quality brew to be served in a relaxing and sociable

environment. All products are made in Saskatchewan and will allow everyone to

experience the Saskatchewan way of life.”

1.3 Goals and Objectives

The goals and objectives of the Saskatoon Brew Pub are as follows:

- Provide at least 15% internal return on investment

- Establish a well known, respected name within the brewpub industry


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Short Term:

o Gain a substantial market share in the brewpub industry in Saskatoon

o Provide excellent customer service for consumers

o Produce a profit which will be used for payments on the long term debt

Long Term:

o Become a leader in the Saskatoon Brew Pub industry

o Profitable growth in percentage of clientele and demand for

the house brew

o Expand facilities for function rooms for separate parties

o Expand the menu, and to offer a larger range in meals

o To provide a return on investment in the form of dividends to

shareholders

1.4 Project Benefits

The development of the brewpub industry in Saskatchewan will bring numerous

benefits to the province:

- By the setup of a brewpub, it will add diversity to the many licensed

restaurants found in Saskatoon

- The Saskatoon Brew Pub will provide jobs for Saskatoon residents and add to

the economy.

- Allow off farm income for the farmer share holders.


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2.0 Policy

Under the SLGA’s policy, in order to have the designation of a “Brewpub” the

Saskatoon Brew Pub must:

- Only allow a maximum of 210 customers in the establishment at one time

- Purchase a liquor license under The Alcohol and Gaming Regulation Act for

approximately $500 (and a $200 application fee).

- Be licensed under The Liquor Consumption Tax Act for the sale of liquor.

- Pay Liquor Consumption Tax of 10% on the total selling price of beer, wine,

and spirits.

- Charge a minimum price of $2.25 per ounce of spirits and the same amount

for bottled or canned beer (assuming 12 ounces per container). The minimum

price for draught beer is $0.16 per ounce, and for wine the minimum price is

$0.35 per ounce. All these prices include the Liquor Consumption Tax and

GST.

3.0 Operations Plan

3.1 Location

The Saskatoon Brew pub is located on 51st Street, Saskatoon. The building is

situated in a new development site, therefore indicating that there is expansion and

development within the area. The 3000ft2 building will be leased yearly at a rate of

$42,000. Since the building is new and being leased, fewer renovation costs will

occur as much of the construction can be completed while contractors are still

working on the site. The location will be in the vicinity for a large number of

employees within the industrial area. It will also be within close proximity to

Saskatchewan Place, this will allow the Saskatoon Brew Pub to capture customers

who are going home from events held at Saskatchewan Place.


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3.2 Work Plan and Flow of Work


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Malt Storage

Washroom

s

Bar

Lounge

Kitchen

Common Cooler

Bright Beer Tanks

Office

Fermenters

60 feet

Common CoolersOffice


Figure 1. Floor plan of Saskatoon Brew Pub.

3.3 The Brewing Process


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50 feet

Fermenters


Figure 2. The brewing process flow diagram. (Source: CDC Inc. Brewing Process from Grain to Glass, 2003).

Grain Mill: The grain mill (figure 3) is used to split the husk (preferably lengthwise) to

reveal the starchy endosperm to allow for efficient extraction and the husk will act as

a filter for the wort. It is important that the grain is not milled too finely, as although

there will be a greater surface area of endosperm exposed for extraction, improper

infiltration will occur during the subsequent steps. (The Brewers’ Handbook, 2003)

Figure 3. Grain Mill. (Source: The Brewers’ Handbook, 2003)


Brew Kettle

Grain Mill

Mash Tun Heat

Exchanger

Bright Beer Tank

ServingTank

FermenterFilter

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Mash Tun: The mashing is the process that converts the starch from the milled malt

and solid adjuncts into fermentable and un-fermentable sugars to produce wort of the

desired composition. The composition of the wort will vary according to the style of

beer. Mashing involves mixing milled malt and solid adjuncts with water at a set

temperature and volume to continue the biochemical changes initiated during the

malting process. (Note: adjuncts are grains such as corn, rice, rye, oats, barley, and

wheat. They are used because they provide extract at a lower cost (a cheaper form

of carbohydrate) than is available from malted barley and because they are readily

available. By adjusting the temperature in this stage, the brew master can produce

fuller or lighter tasting beer. Higher temperatures produce a fuller tasting product,

while lower temperatures produce a lighter taste (Brewsource.com,2003). Following

the mashing process (once all the starch has been broken down) the wort (liquid

extract) is separated from the spent grain and adjuncts (solids) (figure 4). The wort

separation is important as the solid portion contains large amounts of protein, poorly

modified starch, fatty material, silicates and polyphenols (tannins). The remaining

spent grains are cleaned and recycled as cattle feed. (The Brewers’ Handbook,

2003).

.

Figure 4. Mash Tun. (Source: The Brewers’ Handbook, 2003)

Brew Kettle: From the mash tun the wort is moved back to the brew kettle where

hops are added and the wort-hop solution is boiled for approximately 1.5 hours

(figure 5). Boiling concentrates the wort, sterilizes it and captures the necessary

essence from the hops. Once the hop flavors have been extracted, the wort is


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transferred to the hot wort tank. The next step is to separate the hop debris and the

trubaceous matter (hot break) from the boiled wort before cooling. (The Brewers’

Handbook, 2003).

Figure 5. Brew Kettle. (Source: The Brewers’ Handbook, 2003)

Heat Exchanger: The clear wort is then drawn off and sent to the wort cooler

(Brewsource.com,2003). As the wort transfers through the cooler, the temperature

drops from boiling to 14 degrees Celsius (figure 6). (The Brewers’ Handbook, 2003).

Figure 6. Heat exchanger and filtration system. (Source: Source: BrewTech Labs, Inc., 2003)

Fermenter: Once cooled, living active yeast is added to the wort, it travels to the

fermentation tanks (figure 7). Fermentation is the microbiological process in which

yeast converts sugars in the wort into alcohol and carbon dioxide. Fermentation is

complete in approximately one week, and the yeast is either removed from the top of


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the brewing tank (for ale) or from the bottom (for lager). (The Brewers’ Handbook,

2003)

Figure 7. Fermentation tanks. (Source: BrewTech Labs, Inc., 2003)

Filter: Filtration is needed to remove residual yeast, other turbidity-causing materials,

and microorganisms in order to achieve colloidal and microbiological stability (figure

6). (The Brewers’ Handbook, 2003).

Bright Beer Tanks: After filtration the beer will be transferred to bright beer tanks

where it is stored in bulk until needed to be moved into the serving tanks (figure 8).

(The Brewers’ Handbook, 2003).

Figure 8. Bright beer tanks. (Source: Sound Brewing Systems, 2003)

Serving Tanks: The beer is transferred into the serving tanks ready for the customer

consumption (figure 9). (The Brewers’ Handbook, 2003)


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Figure 9. Serving tanks. (Source: IDD Process & Packaging, Inc., 2003)

The brew pup will initially produce five different kinds of house brews. They will

consist of: pale ale, pilsner lager, wheat beer, cream ale, and a special house blend.

3.4 Average Business Cycles

3.4.1 The Average WeekThe business day will start at 11am until 2am the following morning, Monday through

Saturday. Sunday’s will be a slower pace; therefore, the business will only be open

until midnight. Brewing will take place whenever needed. On average, a batch of

beer a week will be needed to be made. Inventory will be stock checked during the

middle of the week (Wednesday). During the week the busiest days will be Thursday

through Saturday, and any other times promotional nights are held. From 6pm

onwards will be the busiest period during the day, as people will arrive after work for

drinks.


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3.4.2 The Average MonthThe average month for the Saskatoon Brew Pub will vary depending upon which

beers are being produced. The busiest periods will occur on promotional nights and

holidays. The brew master, head bar tender, and kitchen manager will each be in

charge of ordering their inventory needed. The office clerk will ensure that all bills are

paid on time. Since all products will be paid for upon purchase, the manager and

office clerk will not have to send out invoices. Wage based employee’s will be paid

fortnightly, whereas the salary based employees will be paid monthly with an

advance of pay halfway through the month. Monthly financial statements will be

produced and analyzed to see how well the company is doing or what improvements

need to be made.

3.4.3 Special ConsiderationsThe beer will be produced according to demand with a regular rotation of brewing.

Some beers require longer or shorter fermenting times, therefore the brew master will

have to organize a brewing schedule to ensure that there will be adequate quantities

of beer available at all times.

West Can will be the supplier for the malt and specialty malts. The food will be

supplied through a wholesale club such as Costco or Superstore wholesale. The

beer will be supplied directly through the local liquor stores.

3.5 Capital Budget


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As seen in (table 5) the capital budget, the Saskatoon Brew Pub requires

$258,000.00, this includes the working capital, equipment and building expenses.

Table 1. Estimated equipment costs.

Type of EquipmentEstimated Cost Sources

Brewing Equipment 121,475.00

Commercial Dishwasher 4,725.00 www.acemart.com

Under Counter Glass Washer 3,780.00 www.bigtray.com

Chest Freezer 970.00

Back Bar Cooler 2,375.00

Back Bar Cooler (Glass) 2,510.00

Reach-In-Freezer 3,645.00

Under Counter Refrigerator 2,050.00

Heavy Duty Range 2,170.00

Gas Griddle 700.00

Microwave 400.00

Fryer 2,805.00

Flatware 180.00

China 225.00

Glassware 1,080.00

Miscellaneous Bar/Kitchen Supplies 1,595.00

Total Cost of Equipment $150,685.00

Table 2. Estimated working capital.

Inventory 12,558.00 Tony Roma’s

Accounts Payable (13,923.00)

Cash 44,205.00


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Total Working Capital $42,840.00

Table 3. Estimated building and furnishing costs.

Building (lease) 42,000.00/year

Bar Stools (10 pair @ $240.00/pair) 2,400.00 www.galasource.com

Chairs (100 @ $54.00/each) 5,400.00

Tables/square (15 @ $165.00/each) 2,475.00

Tables/round (10 @ $165.00/each) 1,650.00

Bar ($385.00/ft * 30ft.) 11,550.00

Miscellaneous Bar Furnishings 2,000.00

Total Building Costs $64,475.00


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Table 4. Estimated brewing costs of good sold.

Malt 500L/beer 14,000.00 www.brewsource.com

Hops 500L/beer 2,400.00

Adjuncts 500L/each 2,000.00

Total Brewing Costs $18,400.00

Table 5. Estimated capital budget summary.

Equip. Costs (brewing+ restaurant) 150,685.00

Working Capital 42,840.00

Building Costs (lease + furnishings) 64,475.00

Total Capital Required $258,000.00

4.0 Human Resource Plan

4.1 Human Resource Strategy

The microbrewery strives to create a welcoming atmosphere for customers and to

help achieve this goal employees will be motivated to work as a team. All employees

will work towards a common goal ‘to make the brew pub a success’. Due to the large

number of employees working at the establishment daily staff meetings will be held

before opening so that problems can be addressed, ideas generated, and a

guarantee that communication between staff is occurring.

4.2 Organization Structure

As can be seen in figure 10 the board of directors will include five internal, and two

external directors. The five internal directors will be the producers (farmers), the two


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external directors will include Guy Keeler and a local business person with expertise

in the brew pup industry. The board of directors will include the president who is

elected by the board of directors to represent the company. The manager and brew

master both will be interviewed and selected by the board of directors. The brew

master will be working as needed (whenever beer is needed to be made). The

manager will organize the work for the additional employees including the kitchen

staff, servers, and bartenders.

Figure 10. The organizational structure for the Saskatoon Brew Pub.


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Board of Directors Internal (5), external (2)

President (1)

Facility Manger (1) Brew master (1)

Kitchen Manger (1)

Servers (5)

Head Bartender (1)

Bartenders (8)

Office Clerk (1)

Cooks (2)


4.3 Job Descriptions

Shareholders/Directors: The shareholders and external directors will hire the

facility manger and brew master. The board of directors will also aid the manager by

approving decisions which will result in the profitability of the brew pub. Shareholders

will be paid with dividends when the end of year cash flow is in excess of $50,000.

Facility Manager: The Facility Manager is one of the most important positions.

The manager will have at least 5 years experience as well as good managerial skills

to deal with the day to day running of the facility. The facility manager will be in

charge of marketing the products and hiring additional employees. Excellent

organizational skills will be required as the manager will have to oversee all aspects

of the business. The manager must be dynamic, able to generate ideas for the

business and be able to create a pleasant working environment for all employees.

The facility manager will require a competitive wage to ensure that the best is being

done to make the brew pub profitable. The starting salary will be $48,000 (Salary

Expert, 2003).

Brew Master: The brew master will be employed under contract and will require a

minimum of five years experience. The brew master will be in charge of brewing all

beer, recipe making, ordering supplies, and maintaining equipment. The brew master

will be in charge of the overall quality of the product. A brew master must have good

organizational and planning skills to successfully manage the logistics-heavy brewing

process and be able to control inventory to meet the customer’s demands. The

starting salary of $55,000 will increase with inflation, the brew master receives $7000

more than the facility manager since the brew masters ability to produce the brew is

critical (Portland Brewing Company, 2003).

Bar Tenders: Bar tenders will be in charge of serving drinks to customers, dealing

with money, cashing up at the end of the day, taking orders, collecting and washing

glasses, stock checking inventory, and general housekeeping. Bar tenders will be


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part time employees arranged on shift work. They will aid with special promotions

and generate new ideas for promotional nights. A head bar tender will be required to

handle all ordering of inventory, designing rota’s, creating an inviting atmosphere for

customers and an enjoyable work environment for employees. All bartenders will

receive minimum wage, and the head bartender will receive $10.00/hour.

Kitchen Manager: Responsible for ordering inventory, managing staff kitchen and

serving staff, generating menu ideas and training all new kitchen employees. The

kitchen manager will receive $10.00/hour.

Part-time Cooks: Responsible for food preparation, cooking and general

housekeeping of the kitchen area. Cooks will have an opportunity to show initiative

along with bar tenders to generate ideas for special promotion nights as well as menu

ideas Part time cooks will receive $8.50/hour.

Servers: Servers will be responsible for taking food orders from customers, and

serving food. Servers will have an opportunity to show initiative to generate ideas for

special promotion nights along with menu ideas. Servers will work on a part time

rotational basis and receive $6.65 hour (minimum wage).

Office Clerk: The office clerk will work on a part time basis of approximately 2

days per week (8 hours/day) to organize pay checks, paying of invoices, filing etc.

The office clerk will receive a salary of $12,500.

The cleaning of the establishment will be completed by a local cleaning firm, costing $15,000 per year.


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3.3 Total Wage and Salary Costs

Table 6. Estimated wage and salary costs of employees for 5 years.

Direct Labour 2004 2006 2008 2010 2012Brew Master 55000.00 56997.82 59068.21 61213.80 63437.33TOTAL salaries 55000.00 56997.82 59068.21 61213.80 63437.33Salary benefits 4834.50 5010.11 5192.10 5380.69 5576.14 Head Bartender 20800.00 21555.54 22338.52 23149.95 23990.85Bartender 65356.20 67730.20 70190.43 72740.03 75382.24Kitchen Manager 20800.00 21555.54 22338.52 23149.95 23990.85Part time cooks 25636.00 26567.20 27532.23 28532.31 29568.72Servers 58094.40 60204.62 62391.49 64657.80 67006.43 Total Wages 190686.60 197613.10 204791.20 212230.03 219939.08Wage employee benefits 25609.21 26539.44 27503.46 28502.49 29537.82

TOTAL Direct Labour $276,130.31 $286,160.47

$296,554.96

$307,327.02

$318,490.37

Management salaries Facility Manager 48000.00 49743.55 51550.44 53422.95 55363.49Office Clerk 12500.00 12954.05 13424.59 13912.23 14417.58Total salaries 60500.00 62697.60 64975.03 67335.18 69781.07Benefits for salary employees 4979.15 5160.01 5347.44 5541.69 5742.98

TOTAL Management Salaries $ 65,479.15 $ 67,857.61

$ 70,322.47

$ 72,876.87

$ 75,524.05

Note: Salaries are increasing by 1.8% inflation, salaries are estimates from Salary Expert.com (2003) and Portland Brewing Company (2003). Benefits include: employment insurance, Canada Pension Plan, holiday pay and workers compensation.

4.4 Training

Both the facility manager and the brew master will be experienced employees and no

training will be required. The head bartender and kitchen manager will also have

experience and will be responsible for on the job training of all employees under

them. The office clerk will be experienced and have up to date skills. Optional

courses such as Bar Management/Mixology (by SIAST) could be taken at the

employee’s expense.


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4.5 Future Human Resources

In the future, the company plans to look upon expanding the business to bottling beer

and supplying it to liquor stores. If property will be available they are hoping to

expand their location to allow for conferences as well as becoming a tourist attraction.

Should any of these aspects take place additional staff will be needed.

5.0 Marketing Plan

5.1 Marketing Mix

Product: The Saskatoon Brew Pub’s main focus is to provide a superior service to its

customers, by providing both excellent food and beverages served in a relaxing

atmosphere. As the Saskatoon Brew Pub is selling a service it must be concerned

with how the brew pub presents itself to the public by means of attracting customers

and maintaining the cliental. This brew pub plans to produce a high quality beer, and

provide a friendly and hospitable environment in which everyone is welcome to come

and enjoy.

Price: The pricing for these products are regulated by government. The price will be

competitive with those of local competitors, as well as trying to give the best possible

prices for our consumers.

Promotion: This brew pub will appeal to all ages; however it will have an “off the

wall” type of atmosphere. Customers can be attracted through promotional days with

discounts on certain products. Both flyers and radio advertising will be used to

promote the Saskatoon Brew Pub. Flyers will be distributed to local business within

the industrial area, as well as at Saskatchewan Place. Radio advertising will allow a

wide range of potential customers to hear about the offers and superior services

provided. Promotional items, such as glasses or beer mugs will be available for

purchase, should customers wish to do so.


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Place: Location is one of the most important aspects within the marketing mix. If

these products and services are not easily accessible to the public then no one will

be willing to travel in order to consume them. The location of the Saskatoon Brew

Pub is one of its major weaknesses, but providing local clientele can be established

the profitability of the venture is expected to grow.

5.2 Segmentation, Targeting and Positioning

5.2.1 SegmentationTo gain the largest overall market share the market has been broken into four

different sectors. (table 7). Each segment of the market has a corresponding name,

age, needs and benefits as well as their demographics, geographics, socioeconomics

and psychographics. Each segment was broken up primarily by age, needs, and

benefits.

Table 7. Segmentation of the market.

Name of Segment

Industrial Workers

Young Professionals Middle Age Oldies

Age range 19-55 23-30 31-49 50+

Needs and benefits - convenient - low price

- high quality

- high quality- nice atmosphere

- high quality-relaxing atmosphere

Geographics - work in the industrial area - all areas - residential

areas- small residential areas

Socioeconomics -lower – middle class -middle class - middle class - middle class

Psychographics - socialising- socialising- work- hard, play –hard attitude

- family orientated

- traditional- brand loyal

Demographics- some disposable income

- some disposable income-single

- some disposable income- family

- disposable income- conservative

Usage - medium-high - medium -high - medium - medium

Beer purchased- in-house ales if competitively priced

- in-house ales if competitively priced

- well known brand

- well known brand


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5.2.2 Targeting

Of the four segments three will be targeted upon, industrial workers, young

professionals and middle aged.

2.2.2.1 Industrial Workers

By targeting the industrial workers a large sector can be gained. This sector will

remain stable throughout the year as the jobs in this region are dependable. The

growth and development within the industrial area will allow for potential growth in

sales providing the workers use the brew pub. The Saskatoon brew pub will offer

competitive pricing for beer, regular beer promotions and happy hour to entice the

workers to come to the brew pub for after work drinks and meals during lunchtime.

2.2.2.2 Young Professionals

The targeting of the young professional group will allow for the completion of

targeting all people less than 30 years of age. This will be a majority of the clientele,

as these people are looking for a more mature drinking environment which meets

their needs of high quality and reasonable prices. The group of individuals will make

use of the promotional nights but come on a regular basis, such as for after work

drinks or evening snacks. This market share is sustainable and if gained will allow for

the penetration and of the loyalty of the middle aged target market.

2.2.2.3 Middle Aged

The middle aged segment will develop from the loyalty of the young professionals.

These people are likely to have children and therefore will be unlikely to be regular

customers due to these responsibilities. This group requires high quality, good

service and a pleasing atmosphere. Since this segment would have a reliable,

disposable income they would be unlikely to make use of promotional nights, and

would rather enjoy a quiet, relaxing evening


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2.2.2.4 Target Market Summary

Of all three target markets the market with the most room for growth would be the

industrial workers and young professional sectors. This sector is least influenced by

promotional nights and therefore these customers will become regular users of the

service provided and will offer the largest opportunity for growth and potential profit.

5.2.3 Positioning

These three segments will allow the Saskatoon Brew Pub to obtain an excellent

position within the brewpub industry. The Saskatoon Brew Pub should be seen as a

place which has a high quality, good value, and great tasting beer. There are

currently some competitors within Saskatoon (such as Maguires), so it is crucial that

the in-house beer produced is of high quality in order to achieve a market share.

Currently many people assume that beer produced by brewpubs is of low quality and

tastes awful; therefore the Saskatoon Brew Pub will need to prove otherwise. Many

brewpubs produce these low quality beers to be able to sell off sale. This is not the

image wanted for this company.

5.3 SWOT Analysis

The SWOT analysis (strengths, weaknesses, opportunities and threats) of the

Saskatoon Brew Pub will examine the strong qualities and challenges of the business

by considering both internal and external aspects. Strengths and weaknesses study

the internal facts, whereas opportunities and threats investigate the effect of external

forces on the business.


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5.3.1 Internal Strengths and Weaknesses

Being a new business in a highly competitive industry; means that this business must

be very strong internally to succeed in the long run.

The strengths of this brew pub are the brew master, good service, and great

atmosphere. The brew master will have a minimum of five years experience when

he/she starts, and will produce the high quality beers which will be promoted. In

regards to this service and atmosphere, the brew pub strives to be a place where

people want to come back to and have a good time. Patrons should be comfortable

and relaxed when they come, and pleased with what they have received when they

leave.

The major weaknesses include; the location, type of business, financial resources,

and the limited menu options. Since the location is on 51st Street, it is not located in

the close proximity to any residential areas; many people may choose to drink at

establishments closer to home. This location is in a heavily noised area of the city,

and most of the competition is in a more residential and quiet atmosphere.

Setting up as a brew pub also has its draw backs. There is a high turn over ratio in

the food service industry in regards to waiters/waitresses. The goal is not to have a

high turn over of employees, as this may cause problems in the service provided to

customers, and employee training would be an ongoing process.

Since there is a high turnover rate for the restaurant industry many lenders are

unwilling to loan large portions of the capital required for the initial business setup. It

is assumed that banks would only be approved to lend one third of the capital

required and the remaining capital be raised by the selling of shares.

The menu is also a draw back. The “pub style” menu will not meet the needs for

those people who want to come and have lunch and/or supper at this establishment.


27


The menu may turn away potential patrons due to the lack of diversity and choices. A

larger menu will be introduced in the subsequent years.

5.3.2 External Opportunities and Threats

The opportunities for the Saskatoon Brew Pub include the lack of competition in the

area. An advantage to location being in the North end of the city is that there are

very few pubs and/or clubs in the area, and the only genuine competitor is The Fox

and Hound.

The threats which occur include competition in the city, target market age, and set up

in Saskatchewan. Within the city, there are many places which a person can go and

have a beer or sit and just relax. As well, this brew pub will be competing against the

other brew pubs in the city (direct competition), but the business is also competing

against the night clubs, lounges, and any other activity that people could do besides

coming to the pub (indirect competition). Setting up in Saskatchewan could be either

an opportunity or a threat; however it poses as a threat in this situation. Within the

province, there are many laws that prohibit or restrain a pub from selling their own

beer off premises, as well as the different tax levels which make setting up as a

brewery very costly.

5.4 Market Analysis

5.4.1 The Market

Saskatoon’s current population is 213,607 (City of Saskatoon, 2003). Among these

people, there are 76,774 males over the age of eighteen and under the age of 65.

There are 82,366 females over the age of eighteen and under the age of 65. The

average expenditure of income per household in Saskatoon is $53,600. Of the

$53,600, the average amount of money spent on tobacco and alcohol products is

$1,436. The statistics for Regina shows that the average household expenditure of

income per household is $56,727 and the amount spend on tobacco and alcohol

products is $1,190. In Calgary, the average expenditure of income was $73,782 and


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the amount spend on tobacco and alcohol was $1,612. This shows that residents in

Saskatoon spend more on tobacco and alcohol than people in Regina and Calgary.

(Statistic Canada, 2003).

Table 8. The average amount of money spent on alcohol/tobacco in Calgary, Regina, and Saskatoon. (Statistic Canada, 2003).

City % of yearly income spend on alcoholCalgary 2.2%Regina 2.1%Saskatoon 2.6%

This brew pub will attract people in the age bracket of 19-50, where as a night club

will include a demographic age of 19-24. On average in 2003, each Canadian of

legal age consumed approximately 83 litres of alcohol, and of the 83 litres, 79% was

beer consumption. (Statistic Canada, 2003).

The consumption of alcohol is affected by many economic factors, especially in

Saskatchewan. If there is a year in which farming income decreases, the economy is

highly affected, primarily because Saskatchewan is a farming province. Other factors

such as demographics also affect whether alcohol will be consumed. Beer is not a

necessity of life, and therefore is a “want”. Since beer is not needed, the consumption

and purchase varies sometimes substantially from year to year. As well the

environment impacts sales of alcohol. There are higher sales in the summer months

than there are in the winter months. People tend to buy more alcohol, beer especially,

when the temperature and environment are pleasing.

5.4.2 Competition

The major competition to this brewpub will obviously be other brewpubs (table 9). In

Saskatoon there are many other brewpubs to compete with. The major ones are

Maguires, The Fox and Hound, Whiskey Jacks, The Hose and Hydrant, and Bridges

Ale House. Being located in the north end of Saskatoon, The Fox and Hound will be

major competition. Maguires will also offer considerable competition because they

offer a very high quality and large selection of house brews. The brewpubs in


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Saskatoon share the city wide market, each having a certain degree of the local

market in the area they are each located.

Table 9. Saskatoon Brew Pub Competitors.

Brew Pub Competitors Strengths WeaknessesMaguires - central location - sporadic service

- high quality product

- established cliental- good atmosphere- large brew selection- ample parking

The Fox and Hounds - established cliental - location in the strip mall

- good menu

- high quality product- good location in the city- ample parking

The Hose and Hydrant - unique atmosphere - poor parking availability

- lots of competition on Broadway

Whiskey Jack's - great atmosphere - limited seating

- have karaoke - new to brewing- large student cliental nearby

- great location* Bridges Ale House is also a competitor, but since no one in the group has been there, strengths and weaknesses cannot be established.

Due to certain liquor laws, the majority of pricing is standard in the brewpub industry.

The Saskatoon Brew Pub aims to compete with other brewpubs by offering a superior

line of brews, a location that has little competition, and ample parking. An area of

weakness for the brewpub is that other competitors can join the industry very quickly

and within a short span of time many new competitors are able to enter the industry.

In addition, the competition can easily copy ideas, products or promotions that are

successful.

A concern to the brewpub is the large amount of indirect competition. This can

include other types of drinking establishments such as restaurants, bars, nightclubs,

and lounges. In a more general sense any activity that competes for the


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entertainment dollar can be seen as competition as most customers have a limited

amount of disposable income.

5.4.3 Customers

It is difficult to estimate how many customers each day, and what they will buy.

Because alcohol consumption varies greatly to which day of the week it is, what hour

of the day, and how the economy is doing, trying to determine the customer numbers

is very hard. An estimate can be taken, that the lunch and supper hours will be the

busiest times of day, as well as on the weekends. Most people visiting this

establishment will have either a job or school to attend during the day, fewer

customers can be expected in the afternoon.

5.4.4 Target Markets

The target market easiest to penetrate will be the industrial workers, as they will be

within a close proximity of the location. The industrial workers will require fast

efficient service in a friendly welcoming atmosphere. The middle age target will be the

hardest target to infiltrate. These people know what is good, and tend to stick with

that. They are somewhat brand loyal, as well; most of them have families to support.

They monitor where their money is going more closely and take fewer risks then

those of the other segments.

5.4.5 Product/Service Features

The product is going to be produced as a high quality brew, an outstanding service

will be provided with a friendly, comfortable atmosphere. It will be a place where

people can come and enjoy the company of friends/family/coworkers and have a

good time.

This product is designed to be a craft brew, and will obviously be different from the

main stream brews like Labatt’s or Molson’s products. The plan is to create a brew


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that is pleasing to the palate as well as one that is comparable in popularity to other

high quality craft brews in the city.

5.4.6 The Opportunity

Based on the target market of young professionals, industrial workers, and middle-

aged people, the largest market opportunity lies among the industrial workers and

young professionals. Between these two target markets, the percentage of sales will

be between 65-75% of the market share.

5.5 Marketing Strategy

5.5.1 Sales and Profit Objectives

During the first year of operation the profit goal is to meet variable costs and interest

expense on any loans that are needed. It is felt that this is reasonable as it takes a

certain degree of time to develop a cliental and a reputation as providing a

consistently high quality product. This will be explained to the investors and will be

accounted for when seeking financing.

5.5.2 Channels of Distribution

The government is allowing pubs to sell in house brewed beer, or through an

attached off sale. Beer will not be sold through the liquor board or any outlet.

5.5.3 Pricing Policy

Much of the pricing policies are predetermined by various provincial liquor laws. The

minimum that can be charged for a drink (bottle beer, highball, shot, etc.) is $2.25.

The minimum price for an ounce of draft beer is $0.17. These prices set a floor for

the liquor products. The competition has the same minimum prices to contend with

so to a certain degree it eliminates pricing competition. Liquor is market-based priced


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in that the price will vary with what the market will bear. It is perceived that the

customer is paying for more than just a drink but the atmosphere of the

establishment, friends, etc.

One main feature of the pricing policy is that the brew pubs own brewed beer will be

priced at a discount to other draft beer. This will be to encourage the consumption of

the brewpubs product. Due to the fact that the brewpub has a lower cost on the beer

that it produces, it will be easier to maintain a profit on this draft. There will also be

daily specials that change and discount incentives to buy food with a drink. Over time

prices will be increased as the cliental increases.

5.5.4 Select Markets/Products/Service Mix

In the beginning, the goal is to capture a small portion of the market. This is a new

pub with untested brew, and in order to become popular this business will need to

start small and build up.

5.5.5 Selling and Advertising

Advertising will take place via both flyers and radio advertisements. Advertising

through papers is not the best idea. The demographic age will fit because not a lot of

younger people subscribe to the paper.

The discount days will be organized, where draft is sold at a discount price, or where

certain foods are on discount (like having a wing night). These specials will bring in

more people, and spread the word of this new brew pub.

Flyers could be distributed within local workplaces and Saskatchewan Place could

also prove to advertise to many people, by placing coupons on the back of tickets.

This could bring people that are not normally in the north end into the brew pub.


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5.5.6 Marketing Plan Budget

To achieve a cliental base, the name must get out into the public quickly. As

previously stated in the marketing plan, the chief forms of promotion include: radio

advertisements and flyers and handouts. The budget for marketing can be seen in

the figure below.

Table 10. Marketing Costs.

Promotion Cost

Flyers and Handouts $3500

Radio Advertisements $6500

Total Cost $10,000

6.0 Financial Plan

6.1 Sources of Funding

There will be three main sources of funding in order to start up the brew pub (table

11). These sources will consist of a bank loan in the form of a long-term loan. The

brew pub will be structured as a limited partnership, thus involving both general and

limited partners. The goal is to finance as much of the pub as possible in order for

the general partners reduce the amount of equity required. In a venture such as this,

banks are usually unwilling to finance greater than approximately one third of the

capital required unless the owners are willing to put up personal assets as security,

which the ones involved in this project are unwilling to do. The reasons for this are

the volatility and uncertainty of the industry combined with the low salvage value of

used restaurant equipment. The bank loan will be taken at an interest rate of 8.0%.

Table 11. Table showing the sources of financing.


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FINANCING SOURCE AMOUNT

Long Term Debt $80,000

General Partners $90,000

Limited Partners $88,000

TOTAL $258,000

The financing will be structured as follows: bank loan 31%, general partners 35%,

and limited partners 34%. This structure will result in the general partners owning

51% of the pub and the limited partners owning 49%. Therefore the general partners

will own the control interest in the company. There will be between 3-6 general

partners all contributing an equal portion of the $90,000 needed. Selling 44 limited

shares at $2,000 each needed will raise the remainder of the capital.


35


6.2 Opening Balance Sheet

Table 12. Opening balance sheet.

– Opening Balance SheetBrewpub

Opening Balance SheetJanuary 1st,2004

Assets:Current Assets Cash $ 84,840Total Current Assets $ 84,840

Fixed AssetsEquipment $ 173,160Total Fixed Assets $ 173,160

Total Assets $ 258,000

Liabilities:Current LiabilitiesLong-Term Debt $ 80,000Total Liabilities $ 80,000

Shareholder’s Equity:Share Capital $ 178,000Total Shareholder’s Equity $ 178,000

Total Liabilities and $ 258,000Shareholder’s Equity

6.3 Financial Summary

All financial results, analysis, and information are provided in the financial model

provided in Appendix A.

As explained earlier in the Marketing Plan, the financial goal was to break even in the

first year of operation. In the restaurant and pub industry, it is usually the first year

which is the most difficult especially for an independently owned operation that is not

a franchise. It is during this first year that a clientele must be attracted and repeat


36


business established. In the brewpub industry liquor prices are fairly uniform among

establishments. This combined with the fact that the start up costs of the brewpub is

kept quite low makes the key variable for financial success the number of customers

that can be attracted. The provided financial analysis was done taking these factors

into consideration.

6.4 Economic Forecast

All the increases in costs/expenses and price increases in the analysis where done

with assumed inflation rate of 1.8%. The growth in sales was forecast as follows:

Table 13. Sales Growth Forecast 2004-2013.

Sales Growth Forecast

Year 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

Growth 2% 2.5% 2.5% 3% 3% 3% 3% 3% 3% 3%


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6.5 Sensitivity Analysis

At the breakeven scenario in the first year the results were as follows:

Table 14. Summary of net income, end of year cash flow and dividends paid

when the Saskatoon Brew Pub receives 170 customers per day.

Year 2004 2005 2006 2007 2008

Net Income $910 $24,909 $39,080 $53,287 $69,557

End of Year Cash $100,831 $101,766 $109,849 $118,751 $130,681

Dividends Paid 0 $50,831 $51,766 $59,849 $68,751

Year 2009 2010 2011 2012 2013

Net Income $86,119 $103,161 $120,813 $138,652 $156,762

End of Year Cash $143,660 $157,728 $172,884 $188,599 $204,872

Dividends Paid $80,681 $93,660 $107,728 $122,884 $138,599

Internal Rate of Return on Equity Investment – 44%

External Rate of Return on Equity Investment – 29%

Table 15. Summary of net income, end of year cash flow and dividends paid

when the Saskatoon Brew Pub receives 149 customers per day.

Year 2004 2005 2006 2007 2008

Net Income ($66,067) ($30,193) ($11,307) $7,457 $28,869

End of Year Cash $33,685 $30,401 $39,859 $62,774 $89,985

Dividends Paid 0 0 0 0 $12,774

Year 2009 2010 2011 2012 2013

Net Income $50,561 $54,449 $62,152 $77,661 $93,864

End of Year Cash $108,094 $109,058 $114,214 $127,599 $141,964

Dividends Paid $39,985 $58,094 $59,058 $64,214 $77,599

Internal Rate of Return on Equity Investment – 15%

External Rate of Return on Equity Investment – 11%


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As shown by table 15, 149 customers per day is the lowest that the business can go.

At this level, a profit is not made until the fourth year based on the sales projections.

However, even at 149 customers per day, the IRR is 15% over the ten year period

which is the lowest acceptable rate. It should also be noted under this scenario the

year end cash never gets too low, and therefore even when a profit is not made, cash

flow should not be a problem. This excess cash allows for the business to sustain

itself through slow times or if the first few months of operation are especially slow.

6.6 Dividends Policy

The dividend policy of the company is that dividends are paid out whenever the year

end cash exceeds $50,000. The dividends are paid out at the start of the next year.

Payment is based on the percentage of equity each shareholder has in the company.

The dividend policy can change if the general partners decide to do so. Table 14 and

table 15 summarize the dividends paid over a 10 year period based on the two

scenarios.

6.7 Unit Cost of Production

For the draft that is produced in house, a unit cost of production must be known.

Table 16. Material cost of production of house brew.

Material Cost of Draft Production Cost/L Cost/oz.

Malt $0.70 $0.02

Yeast, Hops, Adjucnts $0.22 $0.01

Total $0.92 $0.03


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Table 17. Total cost of production of house brew.

Costs of Production per Pint and

Ounce of House Draft

2004

Direct Materials $8,082

Direct Labour $59,835

Total Direct Costs $67,917

Cost per Pint $3.66

Selling Price $4.00

Cost per Ounce $0.23

Selling Price $0.25

As seen in table 16 the materials cost of draft manufacture is quite low. When the

labour cost is added in, as shown in table 17, the cost of production increases

greatly. This is due to the fact that the brewpub has a full time brew master in order

to achieve a very high quality beer. This could be changed in order to lower costs by

hiring or sharing a brew master with other brewpubs, or by having the facility

manager double as the brew master. A third option would be to hire the brew master

on a part time basis after a few years. If the house draft proved to be popular,

reducing the direct labour costs would result in a great increase net income.

However as it stands now, the house brew will be a small portion of the total revenue

(figure 11). One major advantage to having the brewpub is the ability to open an off

sale.


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Revenue Sources

39%

24%

28%

9%

Food and Non-Alcohol

Alcohol

Spirits

Alcohol (house beer)

Figure11. Pie chart showing percentage of revenue generated by each

product.

6.8 Summary

In summary, the financial plan indicates that the brewpub has the potential to be

financially viable. The success all comes back to one key variable, attracting

sufficient customers. The financing of the brewpub has taken accounted for a

potentially sluggish start, this being the reason behind the large amount of extra cash

on hand. The location, an excellent product, and adequate marketing should put the

brewpub in a position to be a success. Attracting adequate financing may be difficult

given the risk factor of the venture and the high percentage of investor equity

required. However the potential for an excellent payoff also exists. Investor patience

may be required as shown in table 15 in which the minimum number of customers for

viability prevents dividends not being paid out until the fifth year of operation. Overall,

the brewpub has a good chance for financial success given the right people can be

put into place.


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7.0 Conclusion

After completing the business plan for the Saskatoon Brew Pub it has been

concluded that the venture is feasible. The financial plan has shown that the

Saskatoon Brew Pub will have an IRR of 44% when 170 customers visit the

establishment per day. The main problems associated with the feasibility will be

ensuring that there are enough customers per day and that adequate equity is

invested. Providing that these two issues are not a problem the Saskatoon Brew Pub

appears to be an excellent addition to the Saskatoon business community.


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8.0 References

Acemart – Restaurant Supply. http://www.acemart.com/ Accessed on 5th October, 2003.

Big Tray – Restaurant Equipment and Supplies. http://www.bigtray.com/ Accessed on 5th October, 2003.

Brewsource.com. http://www.brewsource.com Accessed 2nd October, 2003.

BrewTech Labs, Inc. http://www.brewtechlabs.com. Accessed on 3rd December, 2003.

CDC Inc. – Brewing Process from Grain to Glass. http://www.cdc-brewing.com/documents/processFlowchart.html Accessed on 28th September, 2003.

City of Saskatoon. http://www.city.saskatoon.sk.ca. Accessed on 3rd December, 2003.

CrestonBC.com – A VirtualBC.com partner. http://www.crestonbc.com Accessed on 4th October, 2004.

Galasource,2003. http://www.galasource.com/ Accessed 5th October, 2003.

Government of Canada. Canada Customs and RevenueAgency.T4032PayrollDeductionsTables.http://www.ccraadrc.gc.ca/tax/business/payroll/t4032jan03/menu-e.html Accessed 7th October, 2003.

IDD Process & Packaging, Inc. www.iddeas.com. Accessed on 3rd December, 2003.

Portland Brewing Company. http://www.portlandbrew.com/admin/data_admin.html. Accessed 13th October, 2003.

SalaryExpert.com. Basic Salary Report. http://www.salaryexpert.com . Accessed 7th October2003.

Saskatchewan Institute of Applied Science and Technology . Food and Beverage Service.http://www.siast.sk.ca/siast/educationtraining/appliedcertificate/hospitalityapplied/foodandbevservice.htm Accessed 7th October, 2003.

Saskatchewan Workers Compensation Board. EmployerPremiums.https://web01.wcbsask.com/prod/rea/ClassIndex.nsf/WCBIndustry!OpenPage&Start=1&Count=1000&Expand=1 Accessed 7th October, 2003.


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http://64.4.16.250:80/cgi-bin/linkrd?_lang=EN&lah=0ca12ae834b8e49cdcd29646d6ee3a60&lat=1065654763&hm___action=https%3A%2F%2Fweb01.wcbsask.com%2Fprod%2Frea%2FClassIndex.nsf%2FWCBIndustry!OpenPage%26Start%3D1%26Count%3D1000%26Expand%3D1

http://64.4.16.250:80/cgi-bin/linkrd?_lang=EN&lah=0ca12ae834b8e49cdcd29646d6ee3a60&lat=1065654763&hm___action=https%3A%2F%2Fweb01.wcbsask.com%2Fprod%2Frea%2FClassIndex.nsf%2FWCBIndustry!OpenPage%26Start%3D1%26Count%3D1000%26Expand%3D1

http://64.4.16.250:80/cgi-bin/linkrd?_lang=EN&lah=de1041250d668fef58687b11f39fe99c&lat=1065654763&hm___action=http%3A%2F%2Fwww.siast.sk.ca%2Fsiast%2Feducationtraining%2Fappliedcertificate%2Fhospitalityapplied%2Ffoodandbevservice.htm

http://64.4.16.250:80/cgi-bin/linkrd?_lang=EN&lah=de1041250d668fef58687b11f39fe99c&lat=1065654763&hm___action=http%3A%2F%2Fwww.siast.sk.ca%2Fsiast%2Feducationtraining%2Fappliedcertificate%2Fhospitalityapplied%2Ffoodandbevservice.htm

http://64.4.16.250:80/cgi-bin/linkrd?_lang=EN&lah=3e36e6563d2c6ad67bda574c3c61f759&lat=1065654763&hm___action=http%3A%2F%2Fwww.salaryexpert.com

http://www.portlandbrew.com/admin/data_admin.html

http://www.iddeas.com/

http://www.ccraadrc.gc.ca/tax/business/payroll/t4032jan03/menu-e.html

http://www.ccraadrc.gc.ca/tax/business/payroll/t4032jan03/menu-e.html

http://www.galasource.com/

http://www.crestonbc.com/

http://www.city.saskatoon.sk.ca/

http://www.cdc-brewing.com/documents/processFlowchart.html

http://www.brewtechlabs.com/

http://www.brewsource.com/

http://www.bigtray.com/

http://www.acemart.com/


SearchEngine. http://www.olybeer.com/malthops.html Accessed on 6th October, 2003.

Sound Brewing Systems. http://www.soundbrew.com/. Accessed on 3rd December, 2003.

Statistics Canada. http://www.statcan.ca. Accessed on 3rd December, 2003.

The Brewers Handbook. http://www.beer-brewing.com/ Accessed on 3rd December, 2003.

Tony Roma’s. Personal conversation. 2003.

Westcan Malt. Talked on the phone. October 2nd, 2003


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http://www.beer-brewing.com/

http://www.statcan.ca/

http://www.soundbrew.com/

http://www.olybeer.com/malthops.html


Appendix A

Financial Projections


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