Transition Mission: Navy Sailor and Spouse use SBA to Start Brewery

Transition Mission: Navy Sailor and Spouse use SBA to Start Brewery


♪ I’m Michael Stacks, I’m the
owner of the Bold Mariner Brewing Company. I’m active duty Navy. I’ve been in the Navy
for 18 years. I’m currently on shore duty. I started the Bold Mariner
Brewing Company now to help with my transition towards retirement
within the next two years. It was always my intention after
retiring from the Navy to take my home brew hobby and passion
and turn it into a professional career. When I decided to start planning
the business, I found the SBA website and the free resources,
and there’s also a section that lets you know about the Veterans
Business Outreach Center. Luckily enough, there was one
right here in the same city that I live in, so it was easy
for me to get started. (SAGESTER) The day that Michael
walked into my office, I knew this man was on a mission. I said, “We’re going to make
this happen and we’re going to do it as a team.” Because if
you have the drive and the desire for whatever it is you
want to do, and you combine that with the resources of the SBA,
the resource partners, you’ve got a recipe for success. (CHATTLETON) As a business plan
is being prepared, we also start to look at the funding plan and
that’s when Cherylynn asked me to spend a lot more time with
Michael, focusing on how much capital he’d need to get a loan
from the bank, how much capital he’d need to be successful, and
the types of things he might want to consider for the
longer term. One of the sources Michael used,
besides getting an SBA loan, was he actually raised over $35,000
through crowd funding. (STACKS) Opening a brewery is
very capital intensive. It was critical that we were
able to get a SBA-guaranteed loan, and we had to do
a number of other things. One of the topics that they go
over in Boots to Business is bootstrapping, and when you
bootstrap a business you have to do a lot of things on your own. The build-out and the
construction in this building is where we put a lot of our sweat
equity into cleaning up this big, old warehouse and getting
it in shape for bringing in the brewing equipment. Now that the business is up and
running, I still have two years left in the Navy. I hired a brewer to help me out
with the brewing operations, and also my wife, Kerrie, knows the
business as well as I do. She’s there if, for some
reason, I were to have to go on deployment or leave the area, I
know that the company’s in good hands. (KERRIE STACKS) It’s always been
a dream for him to open a brewery; I just maybe never took
him seriously. (LAUGHS) But, having the whole family be
a part of it is huge. Without the support of your
spouse or your children going through it, you can’t do it. You just have to bear down and
do it together. And, seeing it come together
makes it all worth it. (MICHAEL STACKS) When you’re
starting your own business, you could find yourself being from
the janitor to the CEO — you’re mopping floors downstairs and
then you go upstairs and you do the books, marketing, and
you’re calling distributors, and then before you know it, it’s
opening time and you’re downstairs and your customers
start coming through the doors. So, having the support of
others, not just your family, but the experts that you can get
put in touch with those resources, you have
to have them. So, to anybody that’s in the
military starting to think about your retirement, if you are
planning to become an entrepreneur, the earlier you
start, the better. I would recommend looking at the
transition programs, going to Boots to Business. Start before you go
on terminal leave. It takes a year, two years,
three years to get a business started, so don’t wait until
your retirement party to start figuring out what you’re
going to do next. (GLASSES
CLINK) ♪

3 thoughts on “Transition Mission: Navy Sailor and Spouse use SBA to Start Brewery”

  1. I am a Gulf War I veteran. I just finished my Master's degree and started looking into this program for information regarding opening a daycare center for parents working the mid shift (3-11pm), and graveyard shifts (11-7am). We will open 7 days a week and provide all meals! I am excited about this opportunity and look forward to entrepreneurship!

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