An inner-Sydney brewery launched by Mike Meletopoulo and his father Mark last year is feeling the pressure of COVID-19 restrictions.
Turning his passion into a hobby, Mike’s beer-making skills translated naturally once the brewery had its grand opening. Yet, speaking to ABC News, the pair struggled physically and financially to get the business off the ground.
“It was probably a year and a bit of just planning, just working out whether or not it would be profitable, working out whether we could afford to do it,” Mike Meletopoulo says.
The pair invested an estimated $500 thousand into Bracket Brewing before opening the doors. Their rental agreement, which was signed late last year, is being paid in the thousands, despite their doors being shut.
To make matters worse, the Meletopoulos team was unable to access the wage subsidy due to the business having no downturn.
“Unfortunately, with this sort of venture, all the costs are upfront — you have to have everything in place,” Mark Meletopoulo says.
With Mike putting the whole house deposit into the brewery to keep it afloat, the Greek Australian is hoping his investment turns out profitable.
“It was really a very trying time, because we had to decide whether we would still commit, putting the money in, or whether we say ‘that’s it, game over,'” Mark Meletopoulo says.
“We stuck with it, to the point where people ask us why we don’t have tasting paddles and we say purely because by the time we got to opening, we couldn’t afford the glasses.”
Sourced By: ABC News
