We can blame it on the improving economy. We can blame it on improved logistics and technologies. Or we can simply blame it on our need to alter our moods in one way or another. No matter to what you attribute it, craft beer and craft coffee are the hot new trends among the foodie set, and their growth is even attracting the attention of everyday Joes, if you’ll pardon the pun. New craft breweries and coffee shops are opening up in cities all over America, enticing customers to spend a little bit more for a lot more flavor. These businesses, often local, enhance the community and encourage plenty of foot traffic, and as more of these businesses look to open, commercial real estate becomes even more valuable.
Geeking Out on Beer and Coffee
Craft coffee shops and craft breweries have one important thing in common: the proprietors major on the minors, sweating the small stuff to elevate simple ingredients into a cup or glass of pure bliss. They also share a common enemy in big corporations. You’d be hard pressed to find an American who doesn’t take a cup of coffee in the morning or a pint of cold beer in the evenings. Yet the majority of these Americans will likely tell you they get their beverage of choice from one of the big corporations, companies like Starbucks or Budweiser. Most local craft shop owners, brewers of beer or coffee alike, are just as focused on building a strong local business as they are creating the best product. It’s a mission which so far has been very well received by the American public.
The Third Wave of Craft
The latest craft coffee movement has been dubbed the “Third Wave” of coffee culture. Local coffee bars often work with local roasters or even roast their own beans in house. Coffee is carefully measured, weighed, ground to exacting specifications, and then brewed just so. The price of a cup can reach as much as $7, but many find the extra cost a small price to pay for superior coffee.
Craft breweries are also exercising great care to make the best pint of suds that best represents their home turf. Experimentation is also highly regarded among craft breweries as brewers utilize herbs and other produce in their beers. The recent revival in both craft worlds has been wildly profitable, too. The American coffee market is worth an estimated $30 million, while craft beer sales now account for 15% of all beer sales in America.
Keeping It Local
Craft beer and coffee is regarded as an opportunity for the owners and their employees to passionately produce a product in which they feel immense pride. The two industries also present a wonderful opportunity for commercial real estate owners. Many of these new businesses are eying buildings in heavily populated downtown areas or older buildings with plenty of vintage charm. Demand alone makes these properties more valuable, but successful businesses can increase the value of these buildings through renovations and neighborhood revitalization projects.
If you’re looking to expand your property portfolio, craft beer and coffee look to be a strong investment which will increase in value over the years. Your local real estate advisor will be able to help you find the perfect piece of property to maximize your investment potential and get you in on this hot new local movement!