to their utilization, but the parameters surrounding the concept can make executing the campaigns an arduous affair. “It’s not an easy task,” noted Copperworks co-owner and vice president Jeff Kanor. “Running a campaign is like taking on another full-time job.” At the same time, Kanor noted the support that comes from courting fans of the brand and not fans of ROIs make the effort worthwhile. “We don’t have to act like a public company beholden to shareholders,” he said. “This is different. Our investors aren’t investing because of the money. They’re investing because they like what they’re doing
2024
JUST A LITTLE HELP Not all alternative financial strategies focus on massive cash infusions. In Napa, California, Legacy Barrel Services focuses on helping distilleries streamline management of their barrel assets within the distillery’s financial framework. This is done through several processes: connecting distilleries with coopers, removing barrels after usage, and helping new distilleries seeking to expedite market presence find the right sourcing partners. The services are designed to improve operational efficiency and cash flow but can also help newer distilleries get familiar with the business of the barrel. “We’re able to bring an educational perspective to our clients through our services,” explained Legacy Barrel Services’ Co-Founder, President, and Partner Ken Seymour. “We’ll never tell them what barrel to buy, but we help give them the information they need to ask the coopers the right questions. Ultimately, we want to help them navigate the field so they can make the decisions that are best for their distillery.”
NIMBLE IN NATURE Alternative financial strategies aren’t necessarily built to last. What worked when the whiskey was in the barrel may not suffice when the juice is in bottles. This is especially true if the distillery possesses ambitious plans like expanding production, market penetration into new states, and opportunities to bring new products to market. When a growth spurt is imminent, it’s wise for a distillery to take a step back and determine what financial strategies may best align with their plans as they expand. That said, the right alternative financial strategy deployed at the right time can provide the distillery with the right results. They aren’t one-size-fits-all strategies, and it may take some research and extra toil to make sure the strategy you’re considering is the strategy you truly need. Considering what can be achieved through the proper strategy, it can be worth the effort. Rich Manning is a freelance food and drink writer based in Fountain Valley, CA. He lives about 15 minutes south of Disneyland, but he hasn’t gone there in ages — he’d rather visit the nearby breweries and distilleries instead. You can check out some of his other written hackery by visiting richmanning.pressfolios.com. He can be reached at richmanning72@gmail.com. W W W . ARTISANSPIRITMAG . C O M
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