Beef ‘O’ Brady’s Acquires the Brass Tap
Beef ‘O’ Brady’s, the 214-unit franchise of family sports pubs, completed its acquisition of the Brass Tap earlier this week. The Brass Tap is a Florida-based franchise with three locations that is structured around craft beers, premium wines, and live music.
The management team at Beef ‘O’ Brady’s has an aggressive growth strategy in mind for the Brass Tap, aiming to open at least three franchised units by Q1 2013.
James Walker, chief development officer at Beef ‘O’ Brady’s, says two elements attracted executives at Beef 'O' Brady's to the Brass Tap: its category and its business model.
“We think craft beers is an exciting and growing niche, so we liked the category,” he says. “It’s a very strong business model with attractive return on investment and relatively low barrier to entry, which means it’s very franchisable.”
Walker says the demand for the Brass Tap concept has been strong, and is already generating inquiries from franchisees as far away as India.
“I think we’ve had nine people email us today alone interested in information from India,” he says. “So, the appeal of the Brass Tap I think, frankly, will be global, but the growth you’ll see quickly will be in the home market of Florida.”
Beef ‘O’ Brady’s franchisees will have an opportunity to expand their investments by opening Brass Tap locations, as well.
It helps that the Brass Tap patrons are already built-in, Walker says, as the growing cadre of craft beer enthusiasts search for new outlets to sample beer in.
“They’re exploratory in their purchase habits, and I think it’s what I would refer to as a more sophisticated clientele,” he says. “They like live music, they like craft beers, and they’re looking for something fun and exciting to do—a great customer to have.”
By Sonya Chudgar