Beer is made primarily from four ingredients: water, malt, hops and yeast.
But there’s one more piece that separates your hobbyist home brewer from someone who aims to go from ales to sales: money.
Jonathan Mogor, an entrepreneur and woodworker, owns the property at 74 Portland St. in Morrisville, along with his wife, Carol. They hope to open a new venture there, Soulmate Brewing Co.
First, they need investors. Taking a cue from “community supported restaurants” such as much-loved Bee’s Knees in Morrisville and Claire’s in Hardwick, the Mogors are offering up to 25 percent of the company to investors, with about 57,000 shares available for anyone who invests at least $250. Soulmate is promising a three-for-one share conversion after three years.
The investment period went live last month and of press deadline, Soulmate had just over $23,000 from 41 investors. Mogor’s investor goal is between $75,000 and $275,000. He said three “accredited investors” have already committed $75,000.
“You’ll own shares in the company, too, so as we grow, you’ll be able to share the benefits of that, too,” Mogor said at the end of April.
Soulmate’s investor site, wefunder.com/soulmate.brewing.company, features a pair of testimonials from guys named Todd urging people to invest.
Todd Roling, listed as Soulmate’s lead investor and a friend of the Mogors, wrote, “Over a year ago, Jonathan mentioned his goal of opening a brewery in the building he owns and I told him if he was looking for investors, I wanted to be the first one in. A year later, that's exactly what happened.”
The other testimonial came from across the street in the town offices, from zoning administrator Todd Thomas, listed on the investor site as “Morrisville’s government permit official.” Thomas said Soulmate will have a “baked-in customer base” in a town already known for its craft beer — Rock Art and Lost Nation breweries are standard-bearers and destinations for hopheads.
“I hope you will consider investing in Soulmate Brewing Co. and investing in burgeoning downtown Morrisville,” Thomas wrote. “I look forward to seeing you all when you come to visit!”
Investors are just the next step. Soulmate already has an eye-catching logo, with an S of a swan wrapped around an M, and artwork that bursts with sunset pinks, oranges and blues. Patrick Reid O’Brien is the artist; Mogor said he did the art for Jimmy Buffet’s Margaritaville restaurants and has worked in the White House.
There’s a website and you can already buy T-shirts, pint glasses, hats and stickers. You just can’t buy beer yet.
Home to a string of three short-lived but popular restaurants between 2015 and 2017 — Rogue Artisans Café, Niche, and Hot Tamale — Mogor’s property has been quiet since then.
There was a nasty falling out between Mogor and the last tenant, and Mogor said he wanted to change directions and do his own thing instead of rent out 74 Portland.
Thomas called the space “very handsome and inviting,” said Soulmate has all the permits it needs “to open its doors tomorrow.”