This is a prime location for a family entertainment center with a twist. With daily average traffic counts of around 60,000, this location is the second busiest corridor in the Lynchburg area.
The microbrewery market continues to grow at a steady rate of about 4% nationally.
In Virginia, the average is 3 breweries per 100,000 people. Statewide, you have a 4:1 opening to closing rate and a very high business retention rate of 90%, compared to restaurants at 40%.
Region 2000 MSA defined as Lynchburg City and the four surrounding counties contains approximately 300,000 people and skews younger due to the large number of students at the many universities in the area.
Currently there are three microbreweries to serve the MSA, allowing for an approximate $5.5 million market opportunity at 5 miles for brewery or similar establishments (Environics Analytics).
We have yet to find an analyst to assess demand of family entertainment centers, but our own personal experience and anecdotal data from friends and family indicate a strong opportunity for this niche. A cost effective approach to combine the two opportunities seems to create a high likelihood for success.
Meet Our Owners
Owner Vince Ettare and wise wife Jodi live in the Timberlake area and Jodi is a native to the County. Jodi has deep roots in Central Virginia dating back many generations. Vince Ettare is a pharmacist by trade, is a native of Richmond, and transplanted to Lynchburg after pharmacy school with his soon to be bride. He and his wife have operated several community pharmacies in Central Virginia over the last 15 Years. Currently, they operate the region’s only specialized compounding pharmacy which is located next to the brewery.
The Ettare’s recently sold a portion of their business to a national pharmacy chain to pursue a better work-life balance. Vince has an excellent track record in business, coming from meager beginnings to successfully starting, growing, and running a $4,000,000 company in a highly competitive, some would say predatory, industry. He takes great pride in his commitment to his community and his family. His dissatisfaction with the dysfunction of the healthcare system in general and the pharmaceutical influences dominating wall street has given him renewed passion to empower himself and his neighbors. He is very excited about the dynamics with the community made possible through the JOBS Act and Equity Crowdfunding.
Many are aware of traditional crowdfunding campaigns, where you send money to support an idea that resonates with you. They usually come with some kind of reward or swag. I have participated in several of these projects over the years. In it’s most basic form, giving a friend some money to buy a video game might qualify. I mean, you’ll get to play it, so that’s a nice perk, plus you didn’t have to spend the full amount. Also, I’d like to consider the dozens of stolen CD’s of mine in college might also qualify. OK, that’s a stretch but it makes me feel better. I’ve donated very small amounts of money to breweries over the years. I received T-Shirts and beer discounts and I felt great about contributing toward the cause. I have also contributed towards “The World’s First Social Robot.” That didn’t go like we thought.