EPISODE · Jan 10, 2019 · 56 MIN
183 - Big Money and Bourbon with Chuck Morton, Bourbon Venture Capitalist
from Bourbon Pursuit · host Bourbon Pursuit
Chuck Morton is a Bourbon Venture Capitalist with the Bourbon Bank Fund backed by Venture First. This episode compliments barrel sourcing from episode 182 on building a brand. But where do you get the funds? Is a traditional bank the way to go? Or with someone like our guest who knows how to put collateral on barrels of whiskey in return for dollars? Learn how to become a start up in the bourbon world and the common mistakes seen when looking for investors. Show Notes: The week's Above the Char with Fred Minnick talks about the need to drink responsibly What is Venture First? What is the Bourbon Bank Fund? So you're not in this to lose money? What does SPV mean? What is your ideal customer? Why come to you instead of a bank? What did people do before when they were interested in expanding? How are customers responding? Are you lending to companies with no juice that just want to create a startup? How do you approach a startup that doesn't have a proven product? What are some common mistakes that you notice when distilleries are getting started or jumping from one level to the next? Do you feel the market might be saturated or is the there room for growth in bourbon? What data are your analysts using to determine trends? How did the idea come about? Do you see a bunch of defaults on the horizon? Are you allowed to work with people outside of Kentucky? How much does the name Kentucky come into an evaluation? Do you have a bullshit meter when people come to you with a proposal? What’s the worst pitch you've heard? If someone like Dave Pickerell came in, would it be a turn on or turn off? Are you looking for people that value the whiskey over the experience? Tell us about your investments in cooperages and rickhouses. How can you compete against Buzick for rickhouse building? What kind of return is coming to the owner on an investment? Are there signs that a distillery is about to sell? Are you receiving dividends? Would you prefer a distillery that is turning a good profit or one that intends on being acquired? How much do you need to start a distillery? Learn more about your ad choices. Visit megaphone.fm/adchoices
What this episode covers
Chuck Morton is a Bourbon Venture Capitalist with the Bourbon Bank Fund backed by Venture First. This episode compliments barrel sourcing from episode 182 on building a brand. But where do you get the funds? Is a traditional bank the way to go? Or with someone like our guest who knows how to put collateral on barrels of whiskey in return for dollars? Learn how to become a start up in the bourbon world and the common mistakes seen when looking for investors. Show Notes: The week's Above the Char with Fred Minnick talks about the need to drink responsibly What is Venture First? What is the Bourbon Bank Fund? So you're not in this to lose money? What does SPV mean? What is your ideal customer? Why come to you instead of a bank? What did people do before when they were interested in expanding? How are customers responding? Are you lending to companies with no juice that just want to create a startup? How do you approach a startup that doesn't have a proven product? What are some common mistakes that you notice when distilleries are getting started or jumping from one level to the next? Do you feel the market might be saturated or is the there room for growth in bourbon? What data are your analysts using to determine trends? How did the idea come about? Do you see a bunch of defaults on the horizon? Are you allowed to work with people outside of Kentucky? How much does the name Kentucky come into an evaluation? Do you have a bullshit meter when people come to you with a proposal? What’s the worst pitch you've heard? If someone like Dave Pickerell came in, would it be a turn on or turn off? Are you looking for people that value the whiskey over the experience? Tell us about your investments in cooperages and rickhouses. How can you compete against Buzick for rickhouse building? What kind of return is coming to the owner on an investment? Are there signs that a distillery is about to sell? Are you receiving dividends? Would you prefer a distillery that is turning a good profit or one that intends on being acquired? How much do you need to start a distillery? Learn more about your ad choices. Visit megaphone.fm/adchoices
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183 - Big Money and Bourbon with Chuck Morton, Bourbon Venture Capitalist
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