Company: Table Tap
President: Jeff Libby
What's the story behind Table Tap?
After seeing a self service beer table while living in Argentina, I was instantly inspired to bring Pour Your Own to patrons in the US and abroad. Upon my return, I immersed myself in the beer business working for a large distributor learning the ins and outs of the beer industry. My tenure at Eagle Rock further validated the value self service beer could bring to beverage operations. After several meetings with alcohol authorities, many enhancements were applied to align the system with US laws and consumer preferences. I founded Table Tap in 2006 and launched the first ever self service beer system in the United States at Stats sports bar in downtown Atlanta. Today, Table Tap has installed over 100 systems globally, is responsible for the majority of self service beer systems in the US and its approval by alcohol authorities in almost all 50 states.
And now you're taking things from the table to the wall?
The boom in craft beer in 2009 inspired Table Tap to create what is known today as a beer wall which are communal taps that empower patrons to taste a variety of different beers "Buy the Ounce". The technology now collects valuable data regarding who pours what, when, where and how much draft beer at the point of dispense. The awareness of major data needs of breweries as well as the need to control beer waste by bars are the driving factors that have given me the passion to turn ordinary behind the bar taps into “Smart Taps”. Table Tap is now focused on executing on a strategic plan to attract the right customers, talent and capital to scale the business to new heights.
How does Table Tap work?
Table Tap provides the electronic hardware and software solution to monitor and control beverage dispensing in a responsible fashion. The Table Tap business model is designed to maximize profitability by realizing profit at the time of the sale as well as by receiving a perpetual income stream related to software licensing, support, and maintenance. We sell the equipment hardware outright; coordinate the installation of the equipment directly with our customers, then travel to install the system at each location to ensure quality control (this includes training staff on proper system operation). All Table Tap customers pay into a Monthly Subscription Fee composed of software licensing fees and remote technical support. We offer a fixed monthly fee as well as variable “penny per oz.” fees that are more performance based. Most customers opt for the fixed fee for obvious reasons.
You’ve now developed the beer wall. Are you planning on transitioning toward that and moving away from the table tap service?
While beer walls have become increasingly popular with the growth in craft beer, we do still get significant interest in our table tap solutions. Table Taps provide another outlet for patrons to fill up, they take pressure off the bartender, especially where the bar ends up being 3 deep at times. Table Tap systems tend to do well for sports bar environments the get busy on game day and other concepts that value creating more of a VIP experience at the table. Menu ordering features of our technology with the iPads on the table are also gaining traction in the market.
What's the next step for your company?
The pursuit of hoppiness! It’s all about the App and turning beer into data! We are committed to providing the most innovative and automated beverage dispensing systems to the restaurant hospitality industry by leveraging advancements in technology. At the moment, Table Tap is focused on raising capital to scale the business to roll out self-service beer in a much larger capacity. Table Tap is seeking investment to ramp up marketing/sales efforts, further evolve the technology and execute on several major sales opportunities. Watch out- self service beer is coming to a bar near you.