TWIN FALLS — Like most businesses, Magic Valley Brewing has been struggling throughout the COVID-19 pandemic. They have had shut down in person seating several times and forced to adapt to delivery and pick up since March. However, despite the hardship, they have managed to keep their doors open and are now moving onto their next venture which involves expanding into downtown Twin.
In order to successfully accomplish this move, owners Richard and Judy White are looking for investments from local area residents. The main location in Buhl opened in 2016 and Richard and Judy have been wanting to expand to Twin due to the revitalization to the area.
“We’ve actually been looking for a year or two at different locations here and there. We’ve looked at quite a few. Most of them just weren’t priced where we could make it happen,” said Richard.
Price wasn’t the only deterrent, but also trying to find the place with the right environment that would match the Buhl location and accommodate what regulars are used to. They found the right location on 125 Main Ave. West and started looking for loans from banks.
Unfortunately, it was a tough sell since the pandemic has affected all sorts of small business but perhaps bars and restaurants the hardest. Banks are not too keen at the moment to try and help start a business within the service industry.
However, that was when Richard managed to find Mainvest, an online tool which allows anyone to invest in local business. Kaylin Kulza, a Business Success Manager who is helping Magic Valley Brewing during this investment process said, “This is a chance to invest in a local business and see potential returns off of it. It also makes sure that money in local economies stays in local economies.
While money can be a potential return there are some other benefits Magic Valley Brewing has arranged. Anyone who invests $250 or more gets a Magic Valley Brewing “Pub on Main” T-Shirt. A $500 or more investment can secure a personalized “2021 Pub on Main Investor” mug. Anyone who invest $1,000 or more can receive a growler, pint glass, T-shirt and a 10% discount card which can be used at both locations until July 1st 2022.
Thus far, over $41,000 has been invested from 40 residents and there is still 60 days until the investment window closes. For other residents who may be interested in investing, there is some criteria that needs to be filled when accessing the Mainvest website.
“They do need to create a mainvest account and link a bank account. But we can also facilitate their banking information with voided checks for people that aren't as savvy with technology,” said Kulza.
For those who may be unable to invest, there is still another you can help Magic Valley Brewing try to achieve its goal.
“Investments start at a hundred bucks and go up. But even if you can’t do that, if people can just share it, you never know who might see it and say hey, I want to support local business,” said White.
There is work that still needs to be done on the downtown location but Richard and Judy White to have “Pub on Main” open by some time in March.