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Organic Micro Distillery Uses Unique Opportunity to Create Financing for Sustainable Venture
Organic Micro Distillery Uses Unique Opportunity to Create Financing for Sustainable Venture
Published 03-30-05
Submitted by Pop Sustainability
CHARLOTTETOWN, PE, CANADA - Financing a new venture can be difficult at the best of times. Finding investors is always a challenge, especially when you're located in a small rural province with a population of less than 140,000. However, if the idea is good enough, the interest will follow.
That's what Cindy Burton believes. She's the founder of Salty Dog Distillery in Prince Edward Island, Canada. The distillery will make super premium vodka from organic potatoes, maple sap, and honey, and market them under the labels Island Shine, Canadian Maple Shine, and Honey Shine. And while the distillery is built on the principles of sustainability, its primary goal is to make superb quality vodka. "Typically, investors are looking for companies with high growth potential. In our case, there is a growing demand worldwide for superb quality, innovative spirits made from organic ingredients, and the distillery is designed to answer that demand" explained Burton.
So far, so good. In a perfect world,Burton would have time to shop around the idea, find the right investors and then launch the distillery. She's done it before. She raised over $4 million for her last company, and already has several investors in the distillery. After six months of looking for investors, things were progressing normally. Unfortunately, this isn't a perfect world.
The organic farming industry on PEI is struggling and things are getting worse quickly. Many of the farmers are up against the wall trying to pay the bills, and several are now at risk of loosing everything. Others are considering getting out of organic all together. Combine that with the fact that the Island is in the midst of deciding whether or not to go GMO free, and you can see why time is of the essence. Burton realized that she couldn't afford to take a year or more to raise the money - something had to be done now. The question was what.
And then it occurred to Burton - the inaugural cases. "Everyday people ask when the vodka will be ready, when can they try it. They're excited by the idea and want to participate. And since those first cases from the distillery will be historic, we decided to give people the chance to grab a piece of history and reserve their case in advance," explained Burton.
By pre-selling the inaugural cases, the distillery would have enough money to launch immediately without having to wait for additional investors. And an immediate launch is just what the farmers need. Farms would get saved and, for the first time in years, farmers would be able to look at expanding instead of downsizing. The next step - finding out what people wanted and what they were willing to pay for.
Market research was quickly conducted and it was determined that the inaugural cases had to be special. In the end, it was decided that a limited number of cases would be made available and each one would be unique. Each case would contain twelve (12) 750 ml bottles from the original runs and would be packed in handcrafted, recreation wooden "shine" crates. Each bottle would be hand corked and sealed with wax, and then wrapped in traditional burlap, while the individual case number (i.e., 2 of 250) would be burned directly onto the case. Original case owners would also receive an engraved pewter flask commemorating the launch of the distillery, and a certificate of authenticity, just to round out the package.
"The limited edition cases were designed byIsland master woodworker Bruce Craig with the collector in mind," explained Burton. "Our goal was to create a package that would reflect our heritage and become an heirloom -- Bruce Craig's craftsmanship certainly does that, plus it has a definite "wow" effect."
Things were looking up. People loved the idea and the prototype case was a big hit. That's when the idea for the auction came along.Burton is always looking for innovative ways to create win-win partnerships, and realized an auction presented a great opportunity to do just that - a chance for other groups to benefit from this once in a lifetime event.
So, along with the "wow" effect of the cases, the company has brought together four organizations from acrossNorth America to share in the proceeds of the auction. The Mini Miracles Fund (Toronto), Pop Sustainability (New York), The US Partnership for the Decade of Education for Sustainable Development (Washington) and the PEI Humane Society (PEI) are all beneficiaries of the auction and will receive a portion of the proceeds.
Indeed,Burton has a personal connection to, or passion for, each group. "Each of these groups contributes in their own way to making the world a better, more sustainable place, and I'm honoured to be associated with them," commented Burton. Burton has been the Chair of New York based Pop Sustainability for the past three years, and over the past four years has been one of many voices calling for the UN to recognize and address the need for education surrounding sustainable development. "With regard to sustainability, if we don't truly understand the issues, we can't possibly hope to create innovative solutions. Education is the key to that understanding."
Poverty is another element thatBurton relates to. "Overtime, poverty grinds down the spirit, especially with children. It makes them feel vulnerable and weak. The Mini-Miracle Fund is a creative solution that lifts spirits back up, if only for a while." And sometimes, according to Burton, that's all we need. A little break from the struggle, and the sense that someone else cares enough to do something.
So, this Thursday, March 31, from 9am to 9pm EST on eBay, people are going to get the chance to do something. And in return, not only are they going to get something very cool, they'll know they directly contributed to making the world more sustainable.
The auction will be held on eBay (keyword: distillery auction) onThursday, March 31, 2005from9amto 9am Eastern Standard Time. Reserve bid prices will be set for the cases, however 50 cases will be set aside with a "Buy it Now" price. For more information about the auction or the Distillery, visit the Salty Dog Distillery Web Site at www.thesaltydog.ca.
Background Information
About US Partnership for the Decade of Education for Sustainable Development:
The USPDESD is a volunteer partnership of organizations in the United States dedicated to the decade and its purposes. They act as community-builders, conveners, catalysts and communicators to promote the Decade in the U.S. The partnership's member organizations come from every sector - higher education, K-12, business, non-profits, government, faith communities, and more. Their mission is to leverage the United Nations Decade (2005-2014) of Education for Sustainable Development to foster education for sustainable development in the United States. For more information, please contact Will Duggan, Co-Chair, Marketing Action Team, at wduggan@frame-works.com or visit their Web Site at www.uspartnership.org.
About Pop Sustainability:
Pop Sustainability, a 501(c)3 non-profit organization, was launched in 1998 by a group of young urban professionals with careers in the creative industries and the public sector seeking to inspire young adults to positive action. The goal of Pop is to raise awareness about sustainability through positive, action-oriented local and global campaigns. The organization seeks to utilize pop culture and the power of the media to promote positive action in young adults and empower their influential voice. Pop Sustainability is based out of New York City but has been involved in activities around the world. For more information, please contact Kimberly Heismann, Founder, Pop Sustainability at kim@popsustainability.org or visit their Web Site at www.popsustainability.org.
About The Mini-Miracle Fund:
The Mini-Miracle Fund was established to provide the small things in a Child's live that can make a big difference to their self esteem. Examples are a brownie uniform, ice skates, money for a school trip....These small items can make a significant enhancement to a child's physical and emotional well being. The fund is available across Canada and is administered by the Children's Aid Foundation. For more information about the Mini-Miracle Fund, please contact Jody Steinhauer at jodys@bargainsgroup.com.
About The PEI Humane Society:
The P.E.I. Humane Society is a not-for-profit organization. The Society serves the province of Prince Edward Island, providing care to thousands of injured, stray, homeless and abandoned animals. The work of the P.E.I. Humane Society is made possible by the generosity of supporters and volunteers. We are registered under Part II of the P.E.I. Companies Act, as a registered charitable organization, and listed with Revenue Canada as a registered charity. For more information, please contact Heather Keats at hkeats@peihumanesociety.com or visit their Web Site at http://peihumanesociety.com.
