119 - Pivoting from a Coffee Bar to a Bourbon Bar with Matt Landan of Haymarket Whiskey Bar

Bourbon Pursuit

Hobbies, Food, Leisure, Arts

4.8 • 926 Ratings

🗓️ 26 October 2017

⏱️ 62 minutes

🔗️ Recording | iTunes | RSS

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Summary

With the current climate of overpriced rare whiskey, how do you turn that into a profitable business? Matt Landan talks about pivoting his coffee shop into Haymarket Whiskey Bar, a staple of bourbon country and Top 40 whiskey bar. Show Notes: Everyone who has visited Louisville probably knows but we are going to talk about the history of the bar Do you think this is becoming a new landmark on the bourbon trail How are you appealing to the local bourbon community? You also do something unique with the price of your Van Winkles too People on the forums also thought you ruined bourbon for maybe 30 minutes last year too Talk about the new Vintage spirits law and what that means You’re keeping up with it. what’s the latest news with it and where are they? What are some potential pit falls? How do retailers or people like yourself protect themselves from frauds? What mistakes have you made trying to run a whiskey bar? What advice would you give to someone? How do feel about increased competition? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So yeah, you got one guy who will pick off a bottle twice a year for three and a half grand just to swing his dick around, but he's getting ripped off.
0:07.6	Yeah.
0:08.0	That bottle should have gone for two grand at the top.
0:10.6	I mean, as a discerning buyer, as somebody who understands the underlying business, and is not just pissing money away.
0:33.2	As the bourbon market has taken off, our guest gives some great insight that compliments,
0:39.2	but it also may contradict episode 117 that we did with Chuck Cowdery talking about the future of Bourbon.
0:44.1	It's always interesting to see how people are taking the current environment and running a business with it.
0:49.9	Our guest calls out that these unicorns are great, but as a business owner, it doesn't make a whole lot of sense because he has to make 4x on it but selling it by the poor.
0:53.4	So for any of you going to the bourbon bar business,
0:55.5	this is going to be a great learning experience for you.
0:58.2	Thank you to our Patreon supporters
0:59.5	who have been helping us with supplies with the questions
1:02.1	to all our guests recently.
1:03.9	We're glad to get the questions that you want answered
1:06.1	in front of the people with the best knowledge in the industry.
1:09.0	If you want to be a part of that,
1:10.4	please consider supporting the show.
1:12.5	NPR is doing their fall pledge campaign right now, and at this point, I think we're always
1:16.6	on a pledge drive, it seems so.
1:18.4	But seriously, your monthly donation does a lot to help to support the show and keep it
1:22.8	going.
1:23.5	Go to patreon.com.
	...

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