Ryan Jaeger's annual weekend trips with his college buddies to his parents' cabin were always nearly perfect: friends, time on the water and an ample supply of adult beverages.
Five years ago, Jaeger started thinking about how to combine all of those elements into a single activity.
"We were hanging out on the lake, and saying how cool would it be if we had a movable bar in the water that we could move around, but still see the shoreline," he said. "So we said, 'How do we create a movable bar?' "
He asked a local pedal pub manufacturer to build him a floating bar with enough room for a few a friends and a beverage cooler. That company referred him to one in Oregon that had already mastered the concept.
Jaeger flew to Oregon to have a look for himself. The concept was exactly what he had in mind, so he ordered one. It's essentially a pontoon boat that is powered by two rows of riders who are seated along two inward-facing rows of pedal stations that encourage face-to-face interactions among the riders.
As the riders pedal (and, perhaps, drink), they propel a large paddle wheel at the back of the boat. The boats are steered by captains who are certified to operate a small passenger vessel, and are equipped with trough-style coolers down the center of the bar that enable riders easy access to food and drink.
Jaeger's order was among the first for the manufacturer, which now has boats in dozens of cities across the country.
Back in the Twin Cities, Jaeger saw an opportunity to sell time on the boat to small groups. So he docked the boat, which he called the Paddle Tap, on Lake Minnetonka and ran most of the tours, which include lazy tours of the channels and shoreline with stops at local bars. As the business grew, he hired local college kids to run the tours and started shopping for a banker willing to finance an expansion. Jaeger, a full-time small-business banker, pitched the idea to several lenders.