Finalist: Business of the Year (11-30 Employees)
Dan and Adam have taken a hobby and through innovation have turned it into a business using experience and lessons from their previous careers in the IT industry. In under 3 years they have grown Moody Ales to a thriving business and member of the community. Moody Ales, along with other new businesses in the area, has complemented and enhanced the culture of Port Moody and the Rocky Point neighbourhood and the buildings that run along Murray Street. It has increased tourism and foot traffic to the area and has triggered the planning of new residential development in the surrounding areas. Along with customer education and quality of product, Dan and Adam have always had the happiness and satisfaction of employees, and engagement with the community as guiding principles. Moody Ales not only wants to succeed as a business, but they also want to see their young employees grow in their roles and spend long healthy careers with the company, possibly becoming owners and leaders in the business themselves someday. Through fiscal responsibility and strategic planning Moody Ales has been able to quickly take advantage of a growing emerging market and after only 3 years is prepared to capture a larger portion of market share than originally planned, and expand into other markets.
*Exemplary record of business sustainability, growth and prudent financial management *Uses an innovative approach to business growth and development Dan and Adam recognized a trending market for craft beer in the Tri-Cities and were able to quickly plan and execute their start-up on budget and with growth in mind from the outset. They were able to keep start-up costs down by using strategic prioritization of spending and just-in-time capital investments in equipment and tenant improvements. They put an emphasis on a solid and financially sound business plan to obtain bank financing and used innovative corporate structuring and government tax incentives to raise the portion of capital needed from investors. As a result of our lean start-up strategy Moody Ales achieved profitability in only 15 months. This has allowed us to re-invest profits from our first 3 years of operation and virtually upgrade all existing manufacturing equipment to higher efficiency and volume levels. As a result Moody Ales has tripled production and increased revenues by 275% to a projected $2.5 million in year 4.
*Excellent customer and/or employee relationships To date, our employee retention is over 90% and we are proud to say we have been able to implement an employee benefits plan in our 3rd year of business. We have hired and mentored students through their training programs and have provided ongoing employment for a majority of them. We currently employ 26 individuals, over 80% of which reside in the Tri-cities area. We regularly engage with our customers through organized events on holidays and anniversaries and through local community partnerships with sports and arts programs, government, or charitable/non-profit groups. We make a point of recognizing customer loyalty, for example, with our Guest Tap program that allows customers to brew their own small batch of beer and serve it to their friends in our tasting lounge.
Proactively contributes to the community and is established as a strong corporate citizen Dan and Adam both live in the community and feel a strong association and obligation to have Moody Ales be involved in supporting and furthering the community wherever possible. This is evident in the over 300 charitable or non-profit donations to local community groups and individuals that have been made in our first 3 years of operation. The volume of community engagement is so high that several of our employees have specific duties that involve triaging request or liaising with members of the community. Moody Ales feels a desire to support and further the community within their industry. The inception of Brewers Row, a collective of local Port Moody breweries, was largely due to their leadership and desire to show the community that collaboration exists among these local businesses. Moody Ales has taken a leadership role in several areas within the industry including sharing of workplace knowledge and education of customers. Owners and employees of Moody Ales also regularly act as mentors or consultants for other people looking to make an entry into the industry. Dan and Adam take a keen interest in helping the business community grow as a whole. Adam sits on the board of the Port Moody Economic Development Committee as well as being the treasurer and member of BC Brewers Guild Board of Directors, and Dan regularly collaborates with other local businesses to promote craft beer to the consumer. Moody Ales has played a leadership role in establishing the BC Ale Trail, an initiative that promotes travel to the Tricities and other regions of the province for the purpose of “beer tourism”. The objective is to not only increase growth of the craft beer industry in the Tricities but to also see growth in other local businesses that benefit from an increase in tourism to the area.