Legendary Spirits | Application Preview
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General Information
Business Registration Number: 84-5038695
Location: Plainfield, IL, United States
Length of Operation: 0
Number of Employees:
Annual Gross Income:
Annual Gross Expense:
Open to Loans: YES
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Funding Usage
Funding will be used to fund first year expenses: Website Development Website Maintenance (yearly) Legal Product Development Label Design Trademark Warehousing and Distribution (yearly) 110 case MOQ (product production) Marketing and Branding
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Business Plan
To grow the company, Legendary Spirits will do the following to ensure success: • Establish a robust, fresh, and informative social media presence that celebrates the bourbon culture as well as educates the consumer on historical Black legends that they may have not heard about (our specialty drinks will be named after historical Black figures) • Establish territorial call cycle that will result in frequent calls to “mom and pop” grocery and liquor stores to build relationships and business opportunities centered around the Chicagoland area (territory will grow as sales increase) • Campaign to larger grocery stores and liquor stores to incorporate contractual agreements with our brand (47 Binny’s locations in Illinois and 245 Hy-Vee locations throughout Midwest) • Advocate sponsorships for platforms such as Barstool Sports, The Score, etc… • Create brand awareness by partnering with online delivery services (i.e. Drizly) • Participate in tastings and samplings in restaurants, bars, smoke shops, liquor stores, and grocery stores throughout the Chicagoland market (will expand as the product sales grows) • Partner with groups such as the Black Bourbon Society in efforts to introduce LEGEND.37 to a broader African American customer base nationwide (35,000 followers across Instagram and Facebook) • Network by attending annual industry trade shows and conferences (Independent Spirits Expo, Beverage Alcohol Retailers Conference, American Distilling Institute Conference, etc…) • As the business grows, advertise in media publications and websites that reach our target audience According to the Distilled Spirits Council, sales of American whiskey grew 8.1 percent in 2017. Jumping from $252 million to $3.4 billion; outpacing tequila, cognac, and Irish whiskey. Also in 2017, the Distilled Spirits Council showed that the U.S. exported an additional $1.63 billion worldwide. The American whiskey category grew 5.3% in 2018, according to the Beverage Information and Insights Group, reaching 23.29 million 9-liter cases in the U.S. Drizly reports that in 2019, Nielsen data indicated total whiskey sales in the U.S. amounted to more than $5.7 billion and that straight bourbon, specifically, accounted for over $1.6 billion in revenue. “In the first quarter of 2020, sales were up 19.9 percent the week ending March 28 (compared with sales from the same week in 2019). For the 11-week period of the second quarter that ended on June 13, sales were up 37 percent from the same week the previous year.” Looking specifically at demographics, African Americans account for 40% of distilled spirits consumer dollars (Nielsen Consumer Facts 2015). As a matter of fact, a study by Gravity media group shows non-white increase of bourbon sales of 22% from 2015-2017. Nielsen also found that African Americans are the most likely demographic group to prefer spirits such as whiskey or Cognac over beer or wine. These data points are clear indications that as the popularity of bourbon increases, so does its popularity among African American consumers.
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Self Identified Competition
According to Forbes (April 2020), the top selling bourbons in the US are: 1. Bulleit 2. Maker's Mark 3. Woodford Reserve However, within the category of African American bourbons, the top competitors are: 1. Uncle Nearest 2. Brough Brothers 3. Cylk Blended Tennessee Whiskey The benefit that we have over these other brands is the fact that we currently do not occupy our own distillery and we will be sourcing our product via third party. Therefore, our profit margin will be optimized, specifically within our first 5 years. Legendary Spirits is producing is a premium straight bourbon that is named after a true legend and trailblazer of American college sports, Jack Trice. Trice was instrumental in the integration of college football as he was one of the first African Americans to play collegiate sports outside of an HBCU. He ultimately died from injuries he sustained during his first game on October 6, 1923. LEGEND.37 is a tribute to him and many other Americans who have paid the ultimate sacrifice in efforts to make America a better country for all. Following in the footsteps of Uncle Nearest, LEGEND.37 pays homage to a pioneering figure who is still the only African American to have a Division-1 football stadium named in his honor.
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