3 Monkeys looking for investors
Wendy Alexander/The Madera Tribune
Michael Tate, president of Three Monkeys Brewing, pours a sample of his Yosemite Falls IPA beer.
Through the past 10-plus years, 3 Monkeys Brewing has been doing what it could to spread its brand throughout the state, and even winning some contests along the way.
After having to close down its tasting room a few years ago, 3 Monkeys Brewing President Michael Tate is looking to build a bigger and better brewhouse in Madera — with help from the community.
“We’re looking to raise $1 million,” Tate said. “We may look for a little more to get some amazing equipment. We will have a brewhouse and tasting room. This will give us legitimacy for our distributors. They want to bring us on so bad. They want to see a bonafide brewhouse so they feel comfortable we can produce.”
Community members will now get a chance to invest in 3 Monkeys Brewing with an offering through wefunder, a crowdfunding service that connects startups with investors online.
“We felt comfortable with them and their management and expertise,” Tate said. “Everything has been filed and we’re getting ready to do this offering. We’re hoping to do this soon.”
Tate hopes to get the offering up as soon as this week.
“Our website will have a splash page (3monkeysbrewing.com). It will be posted on our social media pages,” he said.
The investment, which begins at $250, will have a 35 percent return.
“After 18 months, we have the option to pay that back with a five percent dividend to start,” Tate said. “Nobody has that. We’re a company built for the people and by the people. We’ve had our support over the years. It’s just time to expand to a full-blown brewhouse with a new tap room.
“The capital is going to be used for brew equipment and working capital for our employees. We have it written in for 6-8 months to get the brewhouse started. I have a building background so it makes it simpler for me to get around the city and officials. We have some quantities that has extra perks and some kick backs for return.”
Tate hopes to have a brewery and taproom under the same roof. In addition, they can bring in some of their non-alcoholic brands.
“We just haven’t released all of the stuff,” Tate said. “We don’t want to burn out our brand line. Our core beers are special beers, especially our Tres Vaqueros Amber Ale, which is the first Mexican-style amber in the United States in the craft beer category.
“We will have four, 30-barrel tanks so we can do more interesting stuff,” he said. “We will keep our core line running that are doing well. If something isn’t doing well, we can put another beer in its place. Our beers will be produced on-site and sent to the taproom and open to the public for tasting. We are looking at 12-14 beers. We will have some experimental tastes. We will always leave certain beers on tap, like the stouts, which are $1 million brands.”
Tate also wants to bring in food to the taphouse to just have a nice place for people to sit and enjoy their product.
“To be able to sit down at the tap room is what we want. We want them to taste our superior-quality brews we produce,” Tate said. “We want to bring in some good, high-quality food to the bar. We will have packaged products and merchandise in the tasting room.”
3 Monkeys Brewing has worked to expand its name since it poured its first beer in October, 2010.
“We are mostly local at Save Mart, Grocery Outlet, Von’s, Costco, World Market,” he said. “We have a state-wide deal with Raley’s and we can’t even reach that. We are approved for Nevada. We have a pretty good concentration. With the investments, we can hire more reps that can help sell our beer. I think our name is synonymous with good beer. We’ve gotten some good write-ups. Our name is out there.”
With a name like 3 Monkeys, it’s bound to bring the curious to their product and Tate capitalizes on that.
“A good face is very important,” he said. “That’s why we wanted to have a good brand name. We are told we have great beer. It’s good to see that we’re on the right track. We had some shows where we could build our brand.”