MobCraft is an innovative approach to micro-brewing. Its distinguishing facet is that it is crowd-funded. Here is how it works. People submit their own beer recipes each month. The beer recipe that has the most pre-orders will be selected for production. Customers can then go to the brewery to collect their beer or have it shipped via a digital retailer.
There is no other beer that has received more crowdfunding than MobCraft. However, you should know that it was not Kickstarter that provided this funding. The money was provided via Craftfund which is an online crowdfunding site based in Wisconsin.
Wisconsin was one of the first states to adopt a crowdfunding rule that permits fund providers to become equity owners in the business that they are funding.
To get MobCraft going, 52 co-owners pooled in their cash, contributing in total up to $75,000.
These co-owners get to vote during the first 3 weeks of a month so that they can choose their beer recipe. Beers are normally ready for shipping in 4 weeks. However, it can be a bit longer in some cases. The chosen beer recipe is usually available in four packs that cost about $25.
You can choose to buy MobCraft beer anywhere in Wisconsin. MobCraft beer is also available in 2 Illinois sites.
Schwartz sought funding for his MobCraft brand from the Sharks so that the crowdfunded beer brand could increase the sites where it distributes beer.
Are They Still an Active Company?
MobCraft sales really took off following their Shark Tank appearance. Their repertoire of great craft beer recipes has also expanded tremendously. Customers are now spoilt for choice with the rich assortment of delectable flavors that they can enjoy. Following the Shark Tank episode, MobCraft has crafted a considerable niche for itself in the highly competitive beer industry.
The MobCraft founder made a bold and audacious move to turn down Shark O’Leary’s suggestion of using spare capacity on existing micro-breweries. Schwartz went ahead with the development of the new facility and has been vindicated since the venture is a resounding success.
In addition to great beer, the brand is now offering great food as well including pizza, sandwiches and so on. Their annual revenue now touches $2.5 million.
How Did the Shark Tank Pitch Go?
The Shark Tank pitch did not go according to plan. They failed to get the funding that they were looking for. However, that did not stop them from embracing success. They now earn over $2 million in revenue from their venture and have become a respectable brand in the highly crowded beer niche.
MobCraft founder Henry Schwartz walked into the Shark Tank seeking $400,000 in investment in return for a 16 percent stake in the business. Hence, he valued his brand at $2.5 million.
He explained his brand’s business model by describing the special relationship that the company maintains with its customers. Beer aficionados love the crowdfunding concept since it gives them power over which beer will be chosen next.
Next, they tried out the beers. The reactions were mixed, to say the least. While some beers were met with approval, others were met with disgust.
Although Robert Harjavec had given an enthusiastic response to the beers presented to him, he was the first one out since he wasn’t that ‘beer guy.’ Lori Greiner also dropped out for the same reason.
Daymond John bluntly told Henry that he loathed beer and hence did not want to invest. Mark Cuban said that he was content with Bud Light and was not really into craft beer so he dropped out. Kevin O’Leary dropped out for similar reasons.
Hence, no Shark invested in the scheme.
Our Review of MobCraft After their Shark Tank Appearance
If you are touring Milwaukee, you can stop over at MobCraft for a drink or two. It does seem to be a bit crowded at times – that’s because most of the beer recipes are quite good. So you might be lucky enough to savor and relish one of their better recipes. One thing that beer lovers can agree on is that this place is a great site for sours.
The ambiance here sends good vibes and is pretty nice with friendly and jovial employees. Depending on your preferences you can choose inside or outside seating.
There is a wide assortment of beer recipes to relish, so ardent beer lovers would like to come back a number of times to try out some of their top-rated and most tantalizing flavors. Of course, there is an element of luck involved since the recipes that get the vote are produced.
Beer lovers of all stripes will find something here to interest them. There is something for everyone at this beer outlet for the selection of beers here is tremendous. No matter what your taste, you are bound to find something interesting at this place.
Another great thing about this crowdfunded beer site is that they serve pizzas, mac and cheese, pretzels and other goodies with which you can have a nice hearty meal topped off by beer of course.
Hence, you can eat to your heart’s content and drink your favorite craft beer on top of that. Overall, with their crowdfunded approach towards beer selection, they are doing a great job bringing democracy to the fine art of craft beer drinking.
MobCraft Beer Pros
- Plenty of tantalizing beer recipes
- Craft beer
- Great eatery
MobCraft Beer Cons
- Available beers depend on what the mob has chosen
Who is MobCraft for?
MobCraft is for all those of the legal drinking age who would like to try out some really great craft beer.
Are There Any Alternatives?
No. There are no alternatives similar to MobCraft Beer.
Our Final Thoughts
This MobCraft review looked at the quality of craft beer that the brand has to offer and how it fared after the Shark Tank episode.