Know Your Limits

What's Brewing?

By G. David Doran

For years, beer-loving Omaha, Nebraska, restaurateur Brian Magee had wanted to turn the vintage 1903 fire station in the downtown Old Market Historic District into a brewpub, but a lack of investment capital and practical knowledge kept his dream on ice.

Enter John Hickenlooper, inner-city developer and founding partner of Denver's Wynkoop Brewing Co. Hickenlooper had helped open six other brewpubs around the country, capitalizing on his successful reputation at Wynkoop for getting local investors to put up capital, bringing in expert brewmasters and chefs to train the staffs, and giving joint operators like Magee the opportunity to earn equity interest in the business as an incentive.

With Hickenlooper's help, the historic building was eventually transformed into the Upstream Brewing Co., which helped spur an economic rejuvenation in downtown Omaha. "Being associated with Hickenlooper and Wynkoop made it much easier to find local investors," says Magee. "They were also instrumental in helping us get the brewery up and running smoothly."

Hickenlooper's formula seems to be working. Sales at Wynkoop and its partner brewpubs this year will exceed $1 million, and plans are in the works for a total of 20 brewpubs to be built before 2000.

Contact Sources

AIM MailCenter, (714) 837-4151, aimcorp@earthlink.net

Bob Purvin, (800) 733-9858, http://www.aafd.org

Dairy Queen, (612) 830-0364, fax: (612) 830-0301

Kaufmann, Feiner, Yamin, Gildin & Robbins LLP, 777 Third Ave., New York, NY 10017, (212) 755-3100

Pizza Factory, 3219 Commercial Ave., Anacortes, WA 98221, (360) 293-1000, (360) 293-9030

Upstream Brewing Co., 514 S. 11th St., Omaha, NE 68102, fax: (402) 344-0451

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This article was originally published in the February 1998 print edition of Entrepreneur with the headline: Know Your Limits.

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