Bourbon Pursuit 183 - Big Money and Bourbon with Chuck Morton, Bourbon Venture Capitalist
Jan 10, 2019
56:20
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