If you’ve ever waited in a long line at a bar or event drink cart, you’ve probably experienced some frustration. That’s exactly what spurred the idea for PourMyBeverage, originally known as PourMyBeer.
The company uses innovative technology to solve this near-universal problem. Read about their system and the company’s journey in this week’s Small Business Spotlight.
What the Business Does
Offers beverage pouring systems.
Founder and CEO Josh Goodman told Small Business Trends, “We invented a way for customers at bars, restaurants, hotels, stadiums and golf courses to access and pay for beverages as they pour. This method of dispense is 400% more efficient than any other method of selling beverages and requires 50-70% less staff than traditional methods of selling beverages.”
Providing reliable, long-lasting solutions.
Goodman says, “We’ve never had our systems replaced, while we’ve replaces about 20% of our competitors systems they’ve sold. This is due to a more well engineered hardware and software combined with being committed to not letting our customers down.”
How the Business Got Started
After a negative experience at a traditional bar.
Goodman explains, “One night at a bar in Baltimore, it took 20 minutes to get a drink and the idea hit me, “I’m allowed to pump my own gas, why can’t I pour my own beer.” I obssessed over that for a few weeks and wrote a business plan, then I built my own prototype and taught myself to write code to allow guests to pour their own beers.”
Closing deals and growing over time.
Goodman says, “Early on, it was closing the first few deals to allow the business to even survive it’s first year. Later on, I’d say it was having our first $500k month and being able to hire more people to keep up with the growth. The most recent big win would have to be closing the deal with Coca Cola EuroPacific partners to buy 25% of our company. That partnership has opened up many more doors that wouldn’t have been opened otherwise.”
Making a large investment with a new partner.
Goodman adds, “In November of 2014, with not many options, I took one of those payday loans out that you have to pay back daily, cashed in all my remaining 401k + Dunkin stock to place a $100,000 deposit with the Austrian engineering company to make our own proprietary Self-Pour Technology. I’d never sent that much money anywhere, much less over seas. I trusted them and needed a product by April of 2015. I’d told myself if this didn’t work out, I at least went out in a blaze of glory. Thankfully it did.”
Find partners you can trust.
Goodman explains, “From 2010 to 2013 I worked with some shady business partners in Ireland. They never had my best interest in mind, but I was blinded by my excitement to pursue this path. While I learned a ton during this period, being in business with people who’s morals and values weren’t aligned is never worth it.”
How They’d Spend an Extra $100,000
Taking their concept mobile.
Goodman says, “I’d build out 2 self-pour trailers for events so we can prove how much more effective that is than expecting concert goers to wait in 20 minute lines to get a drink.”
Their specialty isn’t beer.
Goodman says, “While we built our company as PourMyBeer, the #1 selling product in the country every month through out system isn’t beer, it’s margaritas on tap. Our top location sells $60,000+/ month in Margaritas on tap.”
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