Where Is MobCraft Beer From Shark Tank Today?
Small, independent breweries have made their mark on beer lovers over the past few years in the form of craft beer. These small yet delicious batches of beer are developed and manufactured by dedicated brewers, who combine proven techniques with flavorful ingredients to create products that go above and beyond the standard beer selection. Craft breweries typically generate 6 million barrels or fewer on a yearly basis and are independent, meaning that less than 25% of the brewery is owned by a larger entity in the alcohol industry.
As for sales figures, the world craft beer market was valued at $95.23 billion in 2020 and is expected to reach $210.78 billion by 2028. These numbers indicate a thriving industry, one that is reliant on the tastes and proclivities of its customers. Fans of craft beer are quite discerning, and often have extensive knowledge about brewing practices, ingredients, and other industry-related topics.
This market is also willing to pay a little more for their brews due to the quality that goes into making them. These factors led one home brewer and entrepreneur to develop an innovative method for creating craft beer recipes.
Putting the power of craft brewing into the people's hands
On "Shark Tank" Season 7, Episode 21, Henry Schwartz appeared with his business, MobCraft Beer. Schwartz explained that he's fostered an entrepreneurial spirit since his teenage years, which ultimately resulted in taking his home brewing operation out into the world. His business uses a crowd-sourcing model, which allows customers to propose new craft beer flavors. People can then "vote" on new flavors by placing pre-orders, and the beer flavor with the most pre-orders is produced.
Schwartz asked the Sharks for an investment of $400,000 in exchange for 16% of MobCraft Beer. The goal of the investment was to purchase a dedicated manufacturing facility to generate his craft brews. Upon handing out beer flights, Schwartz received mixed results from the Sharks. Some hated his beer flavors, while others heaped praise on them. However, nearly all of the Sharks went out early, with most claiming that they lacked interest in the craft beer industry.
Kevin O'Leary, however, stated that he believed in Schwartz's business model but questioned the need for a dedicated facility. Schwartz explained that his customers demand a higher level of quality control than is possible if he were to rent out space in an existing brewery. O'Leary believed Schwartz was making a mistake and was the last Shark to go out. Accordingly, MobCraft Beer left the Tank without a deal.
Sometimes, it pays to stick to your guns
Despite the many successes the "Shark Tank" investors have experienced throughout their respective careers, they don't always get it right in the pitch room. This may have been the case with MobCraft Beer, which is still thriving long after Henry Schwartz's "Shark Tank" appearance in Season 7.
The craft beer company now has taprooms in Milwaukee, Wisconsin and Denver, Colorado, along with proposed taproom locations in Waterford, Wisconsin and Woodstock, Illinois. Additionally, the company's crowdsourcing model is still alive and well, as craft beer fans are encouraged to submit their recipes to be voted on by others.
When it comes to its online presence, MobCraft Beer's Facebook and Twitter pages are updated on a regular basis. As for Schwartz, his LinkedIn profile lists him as the owner and founder of MobCraft Beer, a position he's proudly held for more than a decade.