By Casey Gillam – Sales Manager at CFO Plans Inc.
“Beer is proof that God loves us and wants us to be happy.” Whether Benjamin Franklin actually authored this quote or we’re just hopeful that he did, the sentiment remains that Americans have enjoyed consuming cold brews since the time this land became the United States of America. We hold this truth to be self-evident, that tasting the beer that you yourself brewed creates the desire to brew more and do it better. There are over 8,000 breweries in the United States today, and among them is Midwest Coast Brewing Company.
Operating out of Chicago, Midwest Coast incorporated their business in March 2017. Cameron Compton decided to chase a dream of opening his own brewery as he saw the demand for craft brews surge in the Chicago area. There was already plenty of competition as it felt like a new brewery was opening almost every month. Cameron would assuage his own fears with a little market research to prove the desire for more beer options was still growing. But he needed to be smart with every decision he made. He had to position himself in a way where he could produce quality results while limiting his expenses. He was in it for the long haul and needed some help to keep the ship on course.
One month before Cameron began operations in July 2019, CFO Plans onboarded as Midwest Coast Brewing’s entire back-office. At the time, there was a hefty backlog in their accounting and bookkeeping. With a team of certified accountants at the helm, they cleared up and revamped all of the financials as their first task. Once cleaned, all future books and financials were up-to-date and clean. The next task for CFO Plans was to ensure Midwest Coast was set up for success in all areas of their back-office operations. This included incorporating quality financial systems for the company. The service team introduced all options and explained the pros and cons of each. As CFO Plans partners with almost all reputed and leading financial and operational software providers, Cameron could make informed decisions with the added confidence that these recommendations have worked hundreds of times with other CFO Plans clients. Now, Midwest Coast Brewing Co. founders can focus on growth while CFO Plans runs the financial accounting, regulatory compliance, and financial reporting.
Midwest Coast has been thriving since its inception. Amidst the ongoing crisis of the COVID-19 outbreak, they have been able to keep their doors open to continue operations. They have successfully implemented online ordering for both beer and merchandise. Additionally, they invested in a new canning line to continue focusing on innovation and branding. As bars and restaurants have all but sealed their doors in 2020, Midwest Coast plots its course onward and improvises with what they have: an unyielding spirit to develop the American classic in a can, bottle, cask, and keg.