Free Beer For Life, For $1000? This Minneapolis Restaurant Knows What It's Doing
Amy Johnson and her two business partners needed $220,000 to secure a bank loan for their new small restaurant, Northbound Smokehouse & Brewpub, in Minneapolis, MN. But their potential investors could only hand over a few thousand dollars, so Johnson and her friends got to thinking: what could they give investors for that money? They decided on this: For $1,000, their investors could receive free beer for life, or for as long as the restaurant is open.
Now, the actual price of beer for life would probably be way more than $1,000 — the exact number would depend on how much each person drinks on a regular basis, the kind of beer, and so on — but this was Johnson and her business partners' dream. Who wouldn't take this deal?
Northbound has been open for almost two years now, and it's thriving. The investors don't come to the restaurant solely for the beer — often they'll bring friends with them who order food and drinks of their own. "We have an army of over 100 people who are our cheerleaders," Johnson told the National Journal.
Surely, other start-up restaurants could tap into this market, as well...
1. Pizza Shops And Chains
How about providing free pizza for life to any potential investors for a small investment, perhaps $1,000 or even $750 — depending on the price of pizzas. I advise putting a limit on the number of free pizzas per day though, like "You get one free pizza per day for life," so that you don't go out of business.
2. Coffee Shops
Everyone visits a coffee shop for some reason, whether they're actual coffee drinkers or otherwise. So, it probably wouldn't be hard to get people to invest in a new start-up coffee shop with the incentive of free drinks for life on the table.
3. Ice Cream Parlors
Come on. Who wouldn't want to have free ice cream for life? Of course, you should limit the quantity to one bowl or cone of ice cream per day, as well, but still. It's free ice cream. What kind of investor would not be down with that?
4. Hair salons
Places besides restaurants can tap into this market, too. Offer potential investors free haircuts for life, and you'll be golden.
5. Pet Shops
Offer investors free dog or cat food (or any other kind of pet food) for life, and you'll surely get more investment offers than you'll know what to do with. We all love our pets, right?