Economic viability of installing a microbrewery in Belo Horizonte-MG based on the profile of craft-beer consumption in Brazil

Brazil's participation in the beer market currently stands out, due to the unpredictable and notable proportions that national production has assumed over the past two decades. The state of Minas Gerais stands out in artisanal beer production and is the second Brazilian state in the production of special labels. In this context, this paper presents the costs of installing a microbrewery, and analyzes the feasibility of implementing a microbrewery in the city of Belo Horizonte-MG based on financial indicators and the profile of craft beer consumption. We considered the costs of the beverage production process (malting, grinding, mash, boiling, fermentation, maturation, filtration, filling and shipping) and to assess the consumption profile, a survey was carried out using a questionnaire for a diverse audience  The proposed venture is profitable, considering that the beer market is booming in Brazil and the region chosen for its installation is promising. We consider all calculations related to Simple Payback, NPV and IRR, and TMA above the SELIC rate. The results were positive, with the values of 5 months of return on capital, R $ 6,326.77 and 19% (NPV and IRR, respectively). The profile of the Brazilian consumer market for craft beer is robust and includes people of both genders, different levels of education and socioeconomic classes. The study data indicate that the highest percentage of consumers is male, young people up to 35 years old, married, postgraduate students living in the Southeast.