Northern Michigan’s beverage market is thriving – world-class wines, desirable craft beers, unique sodas and teas – and now a new approach to coffee.
Venture North is helping local entrepreneur Troy Daily launch a new cold-brew coffee product known as Strongbrew Cold Brew Coffee. Specifically, a $75,000 Venture North loan is being utilized for a cold-brew coffee brewing tank system and related equipment purchased from a company located in Idaho. It includes a 250-gallon brewing tank that brews and filters the coffee into a canning line.
Daily learned about Venture North through his banker, John Gray of First Community Bank. They approached Venture North to provide an additional lending partner to provide gap financing for Daily’s expansion plans.
“He thought it was a good fit for Venture North,” Daily said. “Everything was very smooth…It worked out great for us.”
Strongbrew is among several entrepreneurial initiatives that have been pursued by Daily. He’s also the owner/operator of the Daily Blend food truck that operates at Little Fleet in downtown Traverse City, the TC Ale Trail, TC Brew Bus, Kayak Bike & Brew and other projects. His latest cold-brew coffee product targets the 24 to 35-year-old age demographic. The cold-brew process reduces the acid content level of the coffee making it less bitter, while providing an energy boost with one-and-a-half times the caffeine level of standard coffee. He’s also planning to add an almond milk version to his product line by this fall.
Daily distributes the canned coffee product to convenience stores, retail shops and grocery stores throughout the region. The operation is located within Cherry Capital Foods in Traverse City. He’s working to expand distribution of Strongbrew across the state of Michigan.