What is a good business proposition? That is a tough question to answer.
I am sure that many people thought that two old hippies were crazy when they started an ice cream company in Vermont, where summers last only a few months and the temperature can drop to near freezing in August. But those that saw promise in a high-quality, extra-creamy, frozen-fun idea have been well rewarded for their investment in Ben & Jerry’s.
InteliTap is a young Virginia company that looks to have strong growth solving the eternal bar owner’s dilemma; where are all the profits going? If the beer is too warm, the profits are literally going down the drain in the form of extra suds in the mug. A common culprit is the bartender who pours a few extra for him or herself and his or her friends. According to Dave Adams, the founder of InteliTap, it is not uncommon for a bar to have a loss rate of 20 percent on draft beer.
In a keg that holds 125 beers, that’s 25 pints at $4 a pop for recaptured revenue of $100 a keg.
This company saw a problem, and through some technological innovation is providing a solution that can show immediate results on a bar and restaurant owner’s bottom line.
We bring up this company for two reasons. Most immediately, you can share this information with your local beer slinger and hopefully help them become more profitable. At the very least, the owner may have a few more dollars to spend locally, but this could be a way for the owner to become profitable or even increase payroll.
In a more long term sense, this company illustrates that we never really know who will have the next big idea or what it will be. This is why it is important to have a system in place to foster these micro businesses in the start-up phase and have policies in place to encourage the businesses to stay local as they grow.