Cleveland.com
Saucy Brew Works moving ahead with Independence brewery-pub-event space
Saucy Brew Works
Building Breweries the Saucy Way
Cleveland, OH
Food & Beverage
Saucy Brew Works is an Ohio-based production brewery and brewpub based in Cleveland, Ohio. We are in the middle of a massive expansion phase that began with our Pinecrest and Columbus brewpubs opening in 2020, despite the pandemic, and our Detroit brewpub opening in March 2021. We are also set to start construction on our Independence production facility in 2021, along with getting ready for our Charlotte brewpub construction to start.
$420,438
raised
$1,025,448
previously crowdfunded
787
Investors
$113M
Valuation
$1.00
Price per Share
$100.00
Min. Investment
Units
Security Type
Equity
Offering Type
$3.97M
Offering Max
0
Days Left
This offering ended on December 23, 2021 and is no longer accepting investments.
Reasons to Invest
Saucy opened in Columbus, OH and Orange Village, OH in 2020. In March 2021, we opened another brewpub in Detroit, MI, along with having plans to continue expansion well into 2023 and beyond.
Brewery has won multiple awards for its beer (2019, 2020 and 2021) and pizza (2017, 2019, 2020 and 2021)
Veterans of crowdfunding! Join over 2,700 investors who have successfully invested in Saucy’s previous Regulation Crowdfunding offering!
WELCOME BACK TO THE SAUCY STATE OF MIND
Saucy Brew Works was born and brewed in Ohio. We are a Cleveland-based production brewery and brewpub with roots in our hometown that have spread into Central Ohio and Michigan. We are midway through a massive expansion phase that originally included three brewpubs which opened in 2020-21, and now will include an expansive production facility that will double our brewing capabilities and additional brewpubs that cross beyond our state lines.
Our brewery prides itself on creating an environment where people can feel at home. Our mission? To always do the right thing, never sacrifice quality, and always provide for those around us through innovation, education, sustainability and community enhancement.
OUR BUSINESS MODEL
We use the “pub and spoke” approach; a production facility that supplies smaller, neighborhood-oriented pubs. This is important to us for a number of reasons, and we move forward following a three-step strategy.
First. We want to win in new markets, we believe that planting roots in each neighborhood leads to better traction and awareness than simply distributing beer. In doing so, we aim to amplify the communities we serve and provide unique experiences at each brewpub. We serve a variety of offerings for our beer enthusiasts, novices, and non-beer drinkers alike. As we continue to develop deep roots through our establishments and community partnerships, we will right-size our distribution to drive home the growth within that respective market, later expanding into additional cities and states.
Second. We need to have the ability to deploy our capital efficiently. Data from the Craft Brewer's Association shows that breweries tend to be inefficient when using capital sources to drive incremental changes to brewery infrastructure, which drives up fixed overhead. The real goal of capital deployment needs to be driving top-line growth. We have shown expertise with that, having the majority of proceeds from our previous StartEngine raise go towards geographical expansion.
Third. We invest in the People and Culture. One of the tenants of this raise is to give employees the opportunities and training to continue to advance their careers and take true ownership of our brand. We know that the more we invest in our team, the more they will invest back into their company and help build the communities we call home.
OUR TRACTION
DRIVING SALES
We are the fastest growing brand over the last 52 weeks in Information Resources, Inc. (IRI) sales, which is the "industry" term for grocery store sales, in our home market of Cleveland, leaping us into the Top 5 of highest selling craft breweries that are headquartered in Cleveland. In the entire state of Ohio, we became the fourth-fastest-growing brand over the last year and, sending us into the Top 35 breweries in sales for the entire state of Ohio. We compete with the more regional players in the space today and are heading our way into national territory.
LAUNCHING NEW PRODUCTS + SERVICES
In July 2020, we opened our first Coffeehouse in Orange, Ohio. Saucy Coffee has grown to three locations including Columbus, Ohio, and Detroit, Michigan. We plan to continue the expansion of our full-service Coffeehouse as we continue into new regions and introduce our signature line of packaged Whole Bean Coffee available at all Saucy locations and local grocery stores.
Saucy Coffee launched, which includes:
- Signature Coffee Drinks inspired by our beer recipes
- Hot and Cold Coffee Drinks including lattes, cappuccinos, espresso and teas
- Breakfast menu
- Packaged Whole Bean Coffee; House Roast Single Origin Colombian Roast & Seasonal Roasts
BEER AWARDS
- Bronze Medal - Ohio Craft Brewer's Cup - Fruit Beer: That's My Jam, 2020
- Bronze Medal - Ohio Craft Brewer's Cup - Wheat Beer: BF Hefe, 2020
- Bronze Medal - Cleveland Oktoberfest - IPA ASAP, 2019
- Bronze Medal - Cleveland Oktoberfest - Festbier, 2019
- Bronze Medal - King of Ohio - Love You, Bye 2019
BREWPUB AWARDS
- Ohio City, Inc.: Business of the Year 2021
- Silver Spoon Awards: Best Pizza in 2017, 2019, 2020 and 2021
- Cleveland.com: Best Brewery in Cleveland, 2019
- Silver Spoon Awards: 2nd Best Brewery, 2020 and 2021, second to Great Lakes Brewing Company both years
NATIONAL SPORTS PARTNERSHIPS
- Proud Craft Beer Partner of the Cleveland Cavaliers, 2018-2023
- Proud Craft Beer Partner of the Cleveland Monsters, 2018-2023
- Craft Beer Partner of the Columbus Crew, 2018-2019
COMMUNITY OUTREACH AND DEVELOPMENT
We live by a simple mantra, give until it hurts. Saucy has focused philanthropic efforts and neighborhood initiatives including annual give-back programs, friends and family fundraising, national campaigns, and environmental safety measures.
- Cleveland's Breakthrough Schools // Supported through annual sales of seasonal beer, B.F. Hefe
- Child and Family Advocates of Cuyahoga County // Supported through sales of Casa Lager, brewed in honor of Kevin O'Boyle
- Eriesponsible // Supported through "2021 Winter Olympics" event and collaboration sales with Twin Oast Brewing Company
- Make Them Know Your Name (MTKYN) // Supported through the partnership with Denzel Ward and the sale of Return of the Warden
- Sierra Nevada's Resilience Program // Supported through the sale of the Sierra Nevada Resilience beer program
- Cleveland Clinic // Partnership with their "Meals at Work" and "Grab and Go" programs in response to COVID-19
- Cleveland Service Industry // In response to COVID-19, we launched the Cleveland Tip Jar, a virtual tip jar hosted on clevelandtips.com to assist service industry employees whose livelihood was affected by the state-wide shutdown, which helped raise over $150,000.
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WHY WE'RE BACK
GEOGRAPHICAL EXPANSION AND INCREASED PRODUCTION
Why are we back? Simple. We want to create more value for our current and potential investors by continuing our expansion into new markets and finalizing the build of our largest production facility to date in Independence, Ohio. Saucy is fully committed to the list of projects below and expects to make significant progress on each of these before the end of 2021.
- Production Facility and Beerhall - Independence, OH: This production facility has been a dream of the original ownership team since day one. Once the facility is fully operational, it will boast enough production space to compete within the US Top 50 Breweries based on BBL volume. In addition to the brewing capacity increase, the space will serve as a stunning beerhall, event center, and outdoor beer garden for all ages to enjoy. It will serve as our official headquarters, providing a place for our management team to call home. Saucy now owns the land where we will be building. The land is adjacent to Top Golf, making it a destination location for Northeast Ohio visitors. We expect to break ground in early-Summer 2021.
- Brewpub - Charlotte, NC: Our first expansion effort out of the Midwest will be in North Carolina. The Queen City will become the first location within our second phase of geographical expansion. We are in the design phase with plans to begin construction in 2021.
- Food Truck(s): We intend to launch a fleet of food and beer trucks in our local markets as the opportunity coincides with our efforts to build more service options within our communities. With this concept, we will have the ability to meet and serve locals at various parks, festivals, concert venues, and more.
- Brewpub - Location TBD, Investor Choice: We will continue plans to expand outside of the Midwest, and intend to provide our investors with the opportunity to provide input on such locations. We have a few options currently on the table which include Nashville, TN, Tampa, FL, Miami, FL, and Park City, UT.
Independence Production Facility
Charlotte, NC Brewpub
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FOOD TRUCKS
Above are architectural renderings of the in-process brewpubs. As construction is in-progress, the final buildings may differ from the original renderings.
JOIN THE SAUCY POSSE
TOGETHER WE BUILD THE FOUNDATION FOR TOMORROW, BY DOING MORE OF WHAT WE LOVE TODAY.
We launched Saucy Brew Works with the idea in mind that we can build an elaborate brand alongside a vibrant community. We have seen our neighborhoods support us every step of the way, which has only inspired us to find more ways to have our community members become true brand ambassadors and contributing partners of our company.
With an incredible product, team, and support system, we believe that we have the potential materializing at a rapid rate to grow the Saucy Brew Works brand into the next craft beer typhoon. We have our core business model set, and we believe we are on a trajectory of sustainable growth. There is no room for complacency within the culture we've built, so we need you to continue pushing boundaries and driving true success.
A quote that we live by, "Even if you are on the right track, you'll get run over if you just sit there." So here we are, pushing ourselves to keep growing. Join the Saucy State of Mind and come along for the ride!
Quick Insert
In the Press
FreshWater
Let the good vibes roll: Saucy Brew Works woos investors and opens two new locations
ThisWeek Community News
Saucy brewing beer, coffee in Columbus' Harrison West
Detroit Metro Times
Saucy Brew Works expects to open Detroit location in March
19 News
Meals for Northeast Ohio’s caregivers providing a lifeline for restaurants, support for frontline workers
Cleveland Scene
Cleveland Virtual Tip Jar Created to Help Local Service Industry Workers During COVID-19 Shutdown
Offering Summary
Company | : | Saucy Brew Works, LLC |
Corporate Address | : | 2885 Detroit Ave., Cleveland, OH 44113 |
Offering Minimum | : | $10,000.00 |
Offering Maximum | : | $3,974,551.00 |
Minimum Investment Amount(per investor) | : | $100.00 |
Terms
Offering Type | : | Equity |
Security Name | : | Class C Units |
Minimum Number of Shares Offered | : | 10,000 |
Maximum Number of Shares Offered | : | 3,974,551 |
Price per Share | : | $1.00 |
Pre-Money Valuation | : | $112,731,764.00 |
*Maximum Number of Units offered subject to adjustment for bonus units. See Bonus info below.
Co-Issuance
Co-Issuer: Saucy Brew Works SE2 LLC
Address: 2885 Detroit Ave., Cleveland, OH 44113 State of Incorporation: OH
Date Incorporated: April 19, 2021
Investors will make their investments by investing in interests issued by the co-issuer, Saucy Brew Works SE2 LLC, for this offering, which is a special purpose vehicle (“SPV”).
Instead of issuing its securities directly to investors, the Company, Saucy Brew Works LLC, has decided to issue its securities to the SPV, which will then issue interests in the SPV to investors. The SPV has been formed by the Company and is a co-issuer of the securities being offered in this offering. The Company’s use of the SPV is intended to allow investors in the SPV to achieve the same economic exposure, voting power, and ability to assert rights under State and Federal law, and receive the same disclosures, as if they had invested directly in the Company. The Company’s use of the SPV will not result in any additional fees being charged to investors.
The SPV has been organized and will be operated for the sole purpose of directly acquiring, holding and disposing of the Company’s securities. As a result, an investor investing in the Company through the SPV will have the same relationship to the Company’s securities, in terms of number, denomination, type and rights, as if the investor invested directly in the Company.
In order to complete necessary tax filings, the SPV is required to include information about each investor who holds an interest in the SPV, including each investor's taxpayer identification number ("TIN") (e.g., social security number or employer indentification number). To the extent they have not already done so, each investor will be required to provide their TIN within the earlier of (i) two (2) years of making their investment or (ii) twenty (20) days prior to the date of any distribution from the SPV. If an investor does not provide their TIN within this time, the SPV reserves the right to withhold from any proceeds otherise payable to the investor an amount necessary for the SPV to satisfy its tax withholding obligations as well as the SPV's reasonable estimation of any penalties that may be charged by the IRS or other relevant authority as a result of the investor's failure to provide their TIN. Investors should carefully review the terms of the SPV Subscription Agrement for additional information about tax filings.
Investment Incentives
Early Bird
First 7 days - Friends and family - 10% bonus shares
Next 7 days - 5% bonus shares
Volume Tiers
Tier 1 - $100 - 5% discount at all brewpubs + a Free Birthday Beer + 10% bonus units for repeat investors* + Investor Day invite (swag and large ticket giveaways included)
Tier 2 - $300 - 10% discount at all brewpubs
Tier 3 - $600 - $2 growler fills (limited to one per day / per investor for one calendar year from the campagin close day)
Tier 4 - $1,000 - 16oz - 4 pack of exclusive StartEngine Investor beer**|*** + 25% off online merchandise
Tier 5 - $3,500 - Quarterly Coffee Shipment***, which includes 1 bag of House Roast and 1 bag Seasonal Roast on each shipment + a Coffee Mug on the first shipment
Tier 6 - $5,000 - Saucy Brew Works LED Sign***
Tier 7 - $10,000 - 10% Bonus Units
Tier 8 - $25,000 - Invitation to Cavs game (investor + guest) with two members of management / ownership****
* Repeat investors must use the same email registered on StartEngine that was used for the original investment.
** Subject to the ability of our third-party partners to ship beer across state lines.
*** Cost of shipping will be passed on to the investor.
**** Travel and lodging expenses not included.
All perks occur when the offering is completed.
The 10% StartEngine Owners' Bonus
Saucy Brew Works, LLC will offer 10% additional bonus units for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. owner's bonus.
This means eligible StartEngine Unit holders will receive a 10% bonus for any units they purchase in this offering. For example, if you buy 100 Class C Units at $1.13/unit, you will receive and own 110 Class C units for $113. Fractional units will not be distributed, and unit bonuses will be determined by rounding down to the nearest whole unit.
This 10% Bonus is only valid during the investor’s eligibility period. Investors eligible for this bonus also will have priority if they are on a waitlist to invest and the Company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.
Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.
Irregular Use of Proceeds
Example - The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments and salary made to one's self, a friend or relative; Any expense labeled "Administration Expenses" that is not strictly for administrative purposes; Any expense labeled "Travel and Entertainment"; Any expense that is for the purposes of inter-company debt or back payments.
Show More
Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$11,154,651.00
USD
$4,722,863.00
USD
Cash And Cash Equivalents
$82,388.00
USD
$211,029.00
USD
Accounts Receivable
$91,859.00
USD
$36,485.00
USD
Short Term Debt
$1,987,532.00
USD
$560,120.00
USD
Long Term Debt
$3,566,028.00
USD
$400,044.00
USD
Revenues And Sales
$3,589,380.00
USD
$2,954,555.00
USD
Costs Of Goods Sold
$3,850,234.00
USD
$3,513,695.00
USD
Taxes Paid
$0.00
USD
$0.00
USD
Net Income
-$2,636,884.00
USD
-$2,229,880.00
USD
Risks
A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.
Updates
FINAL 4 HOURS TO INVEST! DON’T MISS YOUR CHANCE TO JOIN SBW!
29 days agoThe clock is literally ticking with only 4 hours left to invest. Do not miss your chance. This is your FINAL REMINDER to join the fastest growing brewery in Ohio as we continue to expand our distribution footprint, open brewpubs in new markets, and announce our official 2022 release calendar!
Link: https://www.saucybrewworks.com/2022-release-calendar/
Happy Holidays from Saucy Brew Works! LESS THAN 12 HOURS REMAINING!
30 days agoHappy Holidays from the jolliest bunch this side of the brewhouse. This year, we expanded our Saucy family by over 760 new members, and there’s still a few hours left for you to join in the excitement as we get ready for another year of growth, product launches and brewpub expansions. DO NOT MISS OUT!
Just A Few Hours Left To Invest In Saucy Brew Works
30 days agoWOW! We can't thank you all enough for this incredible journey we've been on. But like all good things, this Crowdfunding campaign must also come to an end.
In these final hours of our crowdfunding raise, join Saucy Brew Works as an investor, and help us celebrate another great campaign and a year of incredible growth.
Wishing you all a wonderful holiday and happy new year!
1 DAY LEFT! Tomorrow Is The Final Day To Invest In Saucy Brew Works
about 1 month agoIt's hard to believe that our second crowdfunding campaign ends TOMORROW. What a year it's been and we couldn't have done it without all of our friends, family and INVESTORS. With your help we opened three new locations between 2020-2021, and we have even more planned for the upcoming year. If you've been thinking our joining the craft beer industry with a top growing brand, this is your chance!
NEW MEMBERSHIP OPPORTUNITY: SAUCY COFFEE CLUB
about 1 month agoCoffee tastes better when it’s unlimited. The Saucy Coffee Club is our new and exclusive coffee membership program available for use at Pinecrest, Columbus, and Detroit locations. Coffee fans can join by subscribing to a 6-or 12-month membership – available in two different tiers. Each tier includes a custom 20oz Saucy Coffee Hot/Cold Tumbler which you’ll bring in to have filled. Enjoy your favorite espresso-laden Saucy Coffee drink & help us reduce plastic waste all at the same time.
Link: https://www.saucybrewworks.com/saucy-coffee-club/
Still On The Fence? Check Out The 'Reasons to Invest' on Saucy's StartEngine Page! ONLY 2 DAYS LEFT!
about 1 month agoUnrivaled growth trajectory, new Brewpub and Coffeeehouse locations leveraging our pub & spoke approach, marketing tech, increased distribution - and more! Learn it all on our StartEngine page. Don't miss out while you still have a chance. TWO DAYS LEFT TO INVEST!
It's the Final Countdown! 5 DAYS LEFT TO INVEST!
about 1 month agoJust 5 days until we wrap up our crowdfunding campaign! We cannot be more excited to have you all join the team!
Saucy Canna Works to launch in 2022
about 1 month agoIn early 2022, we will be launching a cannabis venture, Saucy Brew Works' new sister brand, Saucy Canna Works. This announcement comes on the heels of a joint venture partnership with Red Workshop to enter the cannabis market. Their expertise in the industry has led us to increased awareness, product development and retail partnerships. In collaboration with our manufacturing partner, One Love Labs LLC, we've been able to develop quality cannabis products which include vape cartridges, pre-rolls, and edibles. These assets are set to debut in Michigan in early 2022 - with plans to expand our sales in additional markets throughout the upcoming year.
This journey stems from our desire to build out our evolving and growing lifestyle brand. Our team is very excited about this launch and thrilled that we can now add cannabinoids into our product mix. Over the past four years, we have been able to continuously provide the highest quality craft beer, coffee and other creative products to our consumers, and are now able to provide that same consumer the cannabis products they are already seeking.
The #1 Fastest Growing Beer Brand in Ohio 2021, Join Our Growing Brand Today
about 1 month agoWe have seen major growth in our company and the beer industry as a whole over the past four years at Saucy Brew Works. From inception and even through a pandemic, our team has solidified Saucy's position to compete in major retail where most consumers are purchasing their beer. Over this past year in 2021, Saucy has had its highest YOY growth for beer brands in Ohio and the highest growth in the greater Cleveland market (our hometown). We're working towards another year of #1 growth trajectory in 2022, and we hope you'll come along for the ride.
Learn more about our brand, distribution and mission on our StartEngine page.
Join over 3,000 investors who have become members of the Saucy Family
about 1 month agoWe're beyond stoked to have hit 3,000+ investors between our first and second StartEngine campaigns. Thank you to all who have joined the Saucy family. If you haven't yet, there's still time!
This party closes in 8 days, don't get caught sleeping.
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