In March 2022, Jack Jelinek and Mikey Woolfson, co-founders and co-owners of CRANK Lite Bev Corp (Crank), were considering whether they should sell their beer (Crank Lite Lager) at the Northern Heat Rib Series (Ribfest). As an Oakville, Ontario-based brewery startup that launched during the COVID-19 pandemic, Crank had already taken on a large amount of risk, and Jelinek and Woolfson were unsure of whether they could afford to take on additional risk. However, they wished to continue growing their business to eventually get acquired by another company. Jelinek and Woolfson wanted to determine whether the Ribfest opportunity made sense from a qualitative and quantitative perspective.
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