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Shorts Boy Distillery

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Our first product, The Tidal Rum, is at the forefront of the rum revolution.

175%
 - 
Funded 27 Sep 2021
£150,001 target
£264,273 from 315 investors
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Business overview

Location London, United Kingdom
Social media
Website www.tidalrum.je/
Sectors Food & Beverage Mixed Digital/Non-Digital B2C
Company number 11467254
Incorporation date 17 Sep 2018
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Investment summary

Type Equity
Valuation (pre-money) £4.5M
Equity offered 5.53%
Share price £2.7
Tax relief

EIS

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Business highlights

  • Launched our first product in late summer 2019
  • Listed in 25 supermarkets locally including COOP
  • Stocked across UK incl. Daylesford & Michelin Starred Cornerstone
  • Digital audience grown to 15k+
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Key features

  • Secondary Market
  • Seedrs nominee min. £10.80 +
  • Direct investment min. £20,000.00 +
  • Pay by Bank payments not accepted
  • Idea
  • Key Information
  • Team
  • Updates
  • Investors 315
  • Discussion
  • Documents

Idea

Introduction

The Shorts Boy Distillery is a company inspired by the Tidal coastline of the Channel Islands and our first product is The Tidal Rum. The Tidal Rum is a golden-aged rum infused with Pepper Dulse seaweed foraged sustainably at low tide in Jersey, a celebration of island life and the British coast.

We have created an elevated rum experience, for drinkers of all tastes. Rum redefined as the first drink of the night, not the last. To create Tidal Rum we sampled our favourite aged island rums from around the world, and went foraging for the perfect sea botanical with Kazz, a wild food expert who forages for the top restaurants in the Channel Islands.

We discovered Pepper Dulse known as the Truffle of the Sea, a rare botanical, found only at the lowest tides and prized for its intense marine truffle flavour. Lightly oak-smoked and infused into our golden rum, it gives Tidal Rum its unique ocean salted caramel flavour.

Substantial accomplishments to date

•Created and launched The Tidal Rum – April 2019

•Stocked at the Weekender festival putting Tidal in front of 10k people over a single weekend – Aug 2019

•Supply chain across the Channel Islands and UK established – Sep 2019

•Distribution via our first key wholesaler, Nectar – March 2020

• Increasing demand led us to increase our stock orders to 10k bottles at a time - June 2020

•3,882 bottles invoiced and on consignment with a new U.K. Distributer - May 2021

• Stocked in sites across the Channel Islands and U.K including Daylesford, Cowdray Estate Farm Shop, Michelin Starred Cornerstone, Bentley's Oyster Bar, The Hunter's Moon, Maison Francois, Stanley's, and the Anglian Inns Group

Best served on the rocks or as our signature serve The Tidal Fresh Lime Soda with a dash of angostura bitters - a naturally refreshing first drink of the night that truly lets the spirit sing!

Monetisation strategy

We generate revenue through selling products to market including The Tidal Rum and affiliated merchandise which has two core routes:

1) Distribution: to reach the on-trade and off-trade market in the UK and the Channel Islands we sell directly to distribution partners. With their support and our internal sales capabilities, we have boots on the ground and are knocking on doors. We are seeing a rapid return to the market since the relaxation of Covid regulations, and believe our growth is at this stage limited by capital we can deploy.

2) Direct to the customer: we sell directly to customers on our website. Pre COVID, this accounted for just 4% of sales, and has grown rapidly over COVID to 33% of sales.

Use of proceeds

The founders of SBD intend to expand on the already strong success we've had. We intend to use the money raised to accelerate our plans across our two core routes to market described in monetisation strategy

Sales 40%: We are constrained by our current capacity and believe by investing in sales support in the UK. and Jersey we can gain many more listings

Marketing/PR 30%: To date, we haven't spent money on PR or conventional marketing (non-Facebook)

Supply chain 20%: We want capital to bulk purchase corks and bottle so we can bring down COGS

Product development 10%: We loved creating Tidal Rum and own the IP to the word Tidal across spirits in the U.K. This is a massive opportunity to creating new SKUs and increasing our revenue

Investor Perks

*limited to personal consumption and gifts

Key Information

Founding Team

Please note, Co-Founder Ben Clyde Smith is part-time on the business. The other co-founder in the business, Harry Coulthard, is full-time.

Outstanding Debt

The company has a government Bounceback loan of £50k. This has 2.5% interest, and is paid back with monthly instalments. The first year was interest free.

None of the funds raised will be used to repay this loan.

Please note that financials are based on unaudited management account.

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If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

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Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from £4,509,000

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

Pitch type

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Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

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Secondary market

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Direct investment

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Payment options

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Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

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Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

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