Slyfox launches crowdfunding campaign

Company invites investors for third location

Sly Fox Brewing Co. has launched an innovative method to raise awareness about and funding for its newest satellite pub in the Knitting Mills, an upscale mixed use complex of office, retail and restaurant space in Wyomissing.

The newest Sly Fox outpost — an 8,000-square-foot pub — will be located at 801 Hill Ave. in a renovated building that was formerly a part of Vanity Fair Outlet Complex. It is expected to open in early 2019, according to John Giannopoulos, Sly Fox Brewing Co. managing partner.

Sly Fox has kicked off a unique funding campaign in association with WeFunder, an online investment facilitator that offers contributors the opportunity for return on investment (ROI).

In an interview Friday, Giannopoulos said through WeFunder, participants can make an investment in the new Sly Fox Wyomissing location ranging from a minimum of $1,000 and up.

The goal, according to the Sly Fox WeFunder website is to raise $250,000. As of Friday afternoon, $33,501 had been invested.

“I wanted to do it because I thought it was new and different. I’m really excited and optimistic,” Giannopolous said, adding that he feels confident the idea will take off. “We’re a week into it now, and I have been talking to lots of people that wanted additional information. I expect they will jump in over the next week.”

Giannopolous added that Sly Fox Brewing Co. has funding available in the form of a loan commitment from Tompkins Vist Bank, “But this is something cool,” he added.

Giannopolous said the initiative is about building excitement in Sly Fox and expanding

the company’s community. He added that the idea of crowdfunding is “modern — and younger people are interested in it.”

In return for their investment, the Sly Fox Brewing Co. will share with investors 6 percent of revenues from the Wyomissing location each quarter, until 100 percent of their principal is returned, plus an additional 50 percent.

That means, according to Giannopolous, that someone who invests $1,000 could see a return of $1,500.

“The question is — how long does it take to get paid back,” Giannopolous said, adding that the company conservatively estimates $1.5 million in annual gross sales from the new Wyomissing location. Of that amount, 6 percent would be set aside to be divided among the investors. That figure, he said, is based on current performance at the company’s Pottstown and Phoenixville locations.

Giannopolous points out that as with any investment,

“I wanted to do it because I thought it was new and different. I’m really excited and optimistic.” — John Giannopolous, managing partner, Sly Fox Brewing Co.

there is a level of risk involved.

“We have been around for 23 years, and I feel this location will be good for us,” he said. “There is certainly risk, but we believe it to be minimized.”

Sly Fox selected WeFunder after brainstorming ways to proactively enter the highly competitive market, according to the company. In addition to ROI opportunity, contributors will receive exclusive perks and discounts at the pub, based on their level of investment.

The Sly Fox section of the WeFunder website has information about the company — its history, the Sly Fox team, a question and answer section, risks and an interview with Giannopolous.

The new Wyomissing location is the company’s first brick and mortar location in Berks, but it isn’t the company’s first foray into the county. This year marked Sly Fox’s third season affiliated with the Reading Fightins’ minor league baseball team. Sly Fox Brewing Co. is also the exclusive beer provider for Belly — Kitchen & Drinkery, a bistro at GoggleWorks in downtown Reading.

The new Sly Fox Wyomissing location does not mark the end of the company’s expansion plans according to Giannopolous. The company will be opening locations in Malvern at The Grove at Malvern (opening fall/winter 2019) and at The Highline in Pittsburgh (opening fall 2019).

For more information about Sly Fox Brewing Co.’s WeFunder campaign visit www.wefunder.com/slyfox

For more information about Sly Fox Brewing Co. visit www.slyfoxbeer.com.

DIGITAL FIRST MEDIA FILE PHOTO An artist’s rendering of the newest Sly Fox Brewing Co. location — in Wyomissing, Berks County. Sly Fox has launched a crowdfunding campaign to raise awareness about and funding for the new location.

SUBMITTED PHOTO A rendering of the new Sly Fox location that will open in Wyomissing in early 2019, on the site of the former VF Outlets. Sly Fox has launched a crowdfunding campaign to invite investors in the new location.

SUBMITTED PHOTO An artist’s rendering of the newest Sly Fox Brewing Co. location — in Wyomissing, Berks County. The company has launched a crowdfunding campaign to raise awareness about funding for the new location.

SUBMITTED PHOTO An artist’s rendering shows layout of the proposed Knitting Mills in Wyomissing, Berks County, on the site of the former VF Outlets — as well as the future location of the new Sly Fox Wyomissing. The company has launched a crowdfunding campaign to raise awareness about and funding for the new location.