One local brewery group is seeking to turn some noses ‘blue’ in the upcoming weeks. The Bluenose Gopher Brewery launched it’s figuratively named ’Turn you Nose Blue” Capital Campaign recently as an effort to step into the next phase of raising funds to make the possibility of having a co-op Brewery in Granite Falls a reality.

One local brewery group is seeking to turn some  noses ‘blue’ in the upcoming weeks. The Bluenose Gopher Brewery launched it’s figuratively named ’Turn you Nose Blue” Capital Campaign recently as an effort to step into the next phase of raising funds to make the possibility of having a co-op Brewery in Granite Falls a reality.

Previously, the Bluenose Gopher Brewery had started out in the first phase of its fundraising as a co-op based entity: attracting  patron or ‘member owners.’ Member-owners make a one-time lifetime membership payment of $150.21 and are given benefits such as voting power and are considered the owners of the Brewery. As of August 4, the Brewery has 190 patron member-owners.

Now, the Brewery has turned it up a notch as they entered the second phase of fundraising which includes attracting non-patron members, whose memberships are based off of a more ‘investor ‘ styled approach. Memberships with increased distribution rights are available for investors.

In addition, the Brewery is now accepting member loans for any amounts. These loans are issued by individuals to the brewery and not banks, such as with a traditional loan. These member loans can be useful in helping to not only be used in necessary purchases but can also be important in building up positive financial repertoire for the Brewery as it would perhaps seek bank loans in the future.

According to the Brewery website, investor loans are critical in the community-based co-op style that the Brewery is grounded in. It states, “Such investment illustrates that the member values the co-op’s services and is willing to lend a sizable amount of money to the co-op, even when clearly understanding the risks involved.”

Also, those with a love for locally crafted brews are able to purchase a ‘Free Beer for Life’ package at $5,000. By donating this sum to the Brewery, the investor will receive unlimited pints of any Bluenose Gopher in-house brewed beer.

In the end, the goal in the ‘Turn your Nose Blue’ campaign is to raise $200,000 by the end of October by utilizing these large capital based methods.  With the funds raise, the hope is to use the money for expenses such as covering the rehabilitation costs to the building at 681 Prentice Street where the Brewery is planning to call home. If the goal isn’t met by the timeline, then the Brewery will have to reevaluate and scale back its goals.

 “If we aren’t building momentum or close to our goal, then we’ll re-evaluate our situation and develop an alternative plan,” explained Bluenose Board of Directors Chair Sarina Otaibi.

Those interested in turning their nose blue to help bring the Bluenose Gopher Brewery to life in Granite Falls can view the group’s financial and business plans online at www.bluenose.coop for more detailed information.

In addition, there will be a presentation of how to turn your nose ‘blue’ on August 31 at 7:00 p.m. in at the Andrew J. Volstead House. At the presentation, those interested will learn about different investment options, the business plan, and get a chance to view architectural drawings of the future brewery.

According to Otaibi, the industry is looking promising for those interested in investing. “It’s a growing industry in Minnesota, it’s still very  new and there’s still a lot of room to grow and a lot of market to capture. And I haven’t heard yet of an unsuccessful brewery I feel like anyone that invests their money into a brewery, they will  receive their return on it in the long run.”