Charlie Mulligan , co-founder of BrewPublik - a business that Charlie wants to become “Amazon for beer”. Brewpublik provide a premium catering service delivering craft beer to homes and offices in cities across the States. Listen as Nathan and Charlie talk expansion, investment, and how much to sell a start-up for.
Famous 5
Favorite Book? – The Goal
What CEO do you follow? — Jeff Bezos
What is your favorite online tool? — Intercom
Do you get 8 hours of sleep?— No
If you could let your 20 year old self know one thing, what would it be? —To have more confidence. I can do anything if I set my mind to it.
Time Stamped Show Notes:
01:22 – Nathan’s introduction
01:40 – Welcoming Charlie to the show
02:00 – Match over 3,000 types of craft beer to a taste profile
02:30 – BrewPublik delivers beers to your office or home
02:50 – $75 for a case of 24 bottles
03:13 – Offers one-off orders, regular subscriptions and monthly memberships
03:40 – Founded in 2014
04:02 – $275k revenue in 2015
04:15 – Delivered around 80k bottles
04:40 – Net margin of 35%
05:00 – Reinvesting capital in expansion
05:40 – Hope for $1.5-2 million revenue in 2016
06:30 – How do you decide which markets to expand into?
07:10 – Look at baseline demographics: age, income, breweries per capita
08:30 – Then look for with B2B clients
09:10 – Bootstrapped for first 6 months then had an angel investment round of $1 million
09:45 – Looking for Series A in the next 12 months
10:03 – Sees the beer industry as ripe for disruption
11:00 – Would sell the business for $100 million
15:19 – Famous Five
3 Key Points:
Have confidence in yourself. Trust your own abilities and move forward.
When you’re thinking about expansion, consider what strategy is going to give you a positive operating balance as quickly as possible.
Find a niche to disrupt. Successful start-ups exploit a need that no one else has even considered.
Resources Mentioned:
Freshbooks - The site Nathan uses to manage his invoices and accounts.
Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
Show Notes provided by Mallard Creatives