Sly Fox Brewing is taking a bit of a different road to retail and restaurant space in Wyomissing. The Pottstown-based brewery is kicking off a crowdfunding campaign to raise awareness about as well as funding for its newest satellite pub in the Knitting Mills.
The newest Sly Fox outpost — an 8,000-square-foot pub — will be located at 801 Hill Ave. in a renovated building that was formerly a part of Vanity Fair Outlet Complex. It is expected to open in early 2019, according to John Giannopoulos, Sly Fox Brewing Co. managing partner, writes Donna Rovins in The Times Herald.
Sly Fox has kicked off a unique funding campaign in association with WeFunder, an online investment facilitator that offers contributors the opportunity for return on investment (ROI).
Giannopolous said the initiative is about building excitement in Sly Fox and expanding the company’s community. He added that the idea of crowdfunding is “modern — and younger people are interested in it.”
In return for their investment, the Sly Fox Brewing Co. will share with investors 6 percent of revenues from the Wyomissing location each quarter, until 100 percent of their principal is returned, plus an additional 50 percent.
That means, according to Giannopolous, that someone who invests $1,000 could see a return of $1,500.
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