In June 2012, FSC Franchise Co., LLC acquired the rights to franchise The Brass Tap, the emerging chain best known for its more than 300 craft beers, premium wines, live music and extravagant cigars. Now, one year later, the Tampa-based franchise has caught on like wildfire -- growing from three to eight locations and signing an additional 32 franchise agreements. The Brass Tap is also venturing outside its home state of Florida after signing milestone franchise agreements in Texas, Ohio, New York, Illinois, Arizona, and Michigan.
Since its inception in 2007, The Brass Tap has generated a cult-like following throughout Florida by highlighting local craft breweries through regular promotions and tasting events and by rotating its taps recurrently. The Brass Tap's rapid growth is reflective of the booming craft beer industry as a whole, which totaled $10.2 billion in 2012, up from $8.7 billion in 2011 according to the Brewers Association.
"The Brass Tap has an incredibly unique and competitive position in the marketplace, and while the demand for craft beer bars seems to grow daily, competitors continue to be limited," says James Walker, chief development officer of The Brass Tap. "Consumers and entrepreneurs alike have responded favorably to our concept, and while we're thrilled with what our team has accomplished in the past year, we're even more excited about what's to come."
Among those things on the forefront for The Brass Tap is a major growth emphasis on development into nontraditional venues. In February 2013, The Brass Tap introduced prototype designs tailored exclusively for both airports and casinos.
Today, Jeff Martin, Gary Bailey, and Steve Slowey, the original founders of The Brass Tap, continue their involvement with the brand as shareholder, partners, and franchise owners.