Crafted Taste | Cocktail Kits & Monthly Subscription
Additional Chargify recurring revenue for past 12 months is +$73,000. This revenue is not showing on the Exchange data. Crafted Taste averages $11,500 monthly revenue.
If you have any trouble connecting via the Exchange message system, please feel free to contact me directly at kat [at] craftedtaste [dot] com.
Crafted Taste is a cocktail-of-the-month club and eCommerce store selling cocktail kits throughout the United States. Started in 2013, Crafted Taste has seniority in a national niche market, a solid conversion rate and subscriber retention rate, repeat corporate and consumer buyers, and 30-45% gross profit per kit sold.
CT’s monthly subscriptions are managed with Chargify, with the data imported into Shopify via a third-party app. Since these recurring Chargify transactions are not whitelisted on Exchange, CT’s subscription revenue is not being reflected in the Exchange revenue data. For the past 12 months, CT’s recurring revenue from Chargify is an additional $73,000. Please see the attached Stripe screenshot.
CT has recurring monthly revenue from loyal customers with low churn; some active customers have been with the subscription since early 2014. As a complement to the recurring revenue, CT has a steady stream of individual kit and gift subscription sales. Popular as gifts, our sales increase during holidays and triple during Q4.
CT sells cocktail kits featuring modern and classic cocktail recipes, curated with the non-alcohol and alcohol ingredients customers need to create the cocktails at home. CT has a flexible business model that helps avoid the major difficulties of working with alcohol - by drop-shipping alcohol separately from a variety of liquor stores that are legally setup to ship to different states, CT has the flexibility to reach a large customer base without running afoul of alcohol laws.
I’ve created a new unique cocktail kit each month over the past 4 years, which I feature to our monthly subscribers and then put up for individual sale. These cocktail kits feature a variety of bar related products but the kit curation and content is wholly unique and not sold anywhere else. Along with cocktail kits for our subscription, I’ve created a variety of classic cocktail kits for holiday sales and special collaborations with cocktail bloggers. I have over 50 unique cocktail kits from CT’s product history that could be restocked for sale or revamped for future subscription kits.
While I’ve created each cocktail kit, the product creation could easily be outsourced to an industry consultant, new hire, or through bartender cocktail contests. I have bartender and industry contacts that would be able to take over this position for a new owner. CT also has bartenders all over the world tagging us on social media, in hopes that we’ll feature their cocktails in future kits. Spirit brands will also provide unique cocktail recipes and content in exchange for featuring their spirit in a kit.
CT is simple to operate, with orders either fulfilled inexpensively by the owner or outsourced to a fulfillment company so that the business can be run remotely (both of which I’ve done over the past 5 years). Included in the sale is about $7500 in non-alcohol product inventory and $6000 in branded boxes, packaging, and printed materials. See the “Inventory” section for more information.
For the life of CT, almost all marketing has been social media, word of mouth, or press mentions. I believe an owner with more knowledge and experience with marketing and advertising could turn CT into an even more profitable business very quickly.
CT was one of the first cocktail subscription businesses to launch in 2013 and has been a leader in the market ever since. CT is well liked within the industry - bartenders, vendors, brands want to work with CT and actively approach for new collaborations and projects. We’re also regularly approached about collaborations with major media pushes including movies (e.g. Murder on the Orient Express) and TV shows.
CT has had large corporate orders for businesses like Apartments dot com, Google, and Facebook in the past. There is a lot of opportunity for a new owner to target enterprise sales which have been high volume and high profit. See the “Possible Improvements” section for a detailed analysis of CT’s opportunities.
Along with unique product creation and website design/content, I’ve put in extensive work into the store and brand by developing a flexible business model, creating unique content and social media presence, and building backend fulfillment tools such as kit creation guides, fulfillment instructions, and vendor/industry lists. See the “Work Put into Store” section for more information.
In summary, Crafted Taste is a marketing-and-PR friendly business concept that’s easy to run and has very low maintenance costs. Nearly everyone that hears about CT wants to hear more and the product often sells itself. CT is regularly contacted for media pieces with no outreach effort and is sought out to participate in collaborations and special projects. With the widespread popularity of alcohol and alcohol-related products, this business is very scalable.
Why am I selling now? Due to personal health reasons, I’ve cut my alcohol consumption and I no longer have the enthusiasm for working in the alcohol industry that I once did. I think a new owner could take the solid foundation, unique product, and brand reputation to new heights and scale CT up quickly.
Price is negotiable. Purchase of inventory is negotiable.
Financials and traffic
|Subscriptions (ie. Mailchimp, apps)||
|Advertising (ie. Adwords, Facebook ads, etc.)||