He Sells Craft Beer On Demand, $250k in 2015, $2m in 2016

Charlie Mulligan

Summary:
In Episode #259 Nathan interviews 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:

  1. Have confidence in yourself. Trust your own abilities and move forward.
  2. When you’re thinking about expansion, consider what strategy is going to give you a positive operating balance as quickly as possible.
  3. 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.