Investing in non-alcoholic drinks

Chris Boyd is the Co-founder and CEO of Drink Monday, a company bringing delightful, alcohol-free adult beverages to consumers globally. 

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The alcohol-free industry is not a trend. It’s a movement with a mindset toward self-care, staying sharp, and living life without compromise. Drink Monday means people no longer have to choose between good health and great taste.

With Monday Gin™ and Monday Whiskey, you can drink delicious cocktails, socialize without stress, and wake up feeling fresh and hangover-free.

Chris and the Drink Monday Team believe their products can compete with alcoholic beverages. Industry data seems to back up that idea—brand growth in the alcohol-free sector has increased by 506% in the last six years. 

Join us in this episode to learn more about Drink Monday and how they managed to rank in the top 1% of Shopify sites, with a conversion rate that is twice the industry average.

The “why” of non-alcoholic spirits (Drink Monday’s origin story)

Whenever we see a product that is dramatically different from the industry standard, we always ask, “why?” What was the main driver?

The stories that inspired Drink Monday are something very familiar to the majority of alcohol consumers. Hangovers can have significant consequences for your day-to-day, and especially for your professional life.

Going to work after a night out can be a hellish experience. It’s never fun to be stuck in meetings while exhausted, dehydrated, and battling a nasty headache. 

Not everyone sees non-alcoholic adult beverages as a solution, but lots of people are starting to.

A couple of years ago, Chris found himself weighing his options during a night out. He had an important pitch meeting the next morning, so he was either going to avoid drinking or deal with the consequences. Chris did the responsible thing, but a question started to form in the back of his mind. 

What if you don’t have to sacrifice good health for good taste? 

He later shared these thoughts with a friend at the gym, who ended up becoming his co-founder. However, getting other people on board hasn’t been as easy. The search for a distillery to partner with involved a miserably long string of rejections, but Chris didn’t give up on his idea. After 80-some phone calls, he finally got a “yes” from a distillery and the co-founders began their entrepreneurial journey.

Just goes to show how important it is to persevere, even when others don’t share your vision. 

The alcohol-free drinks movement is real

The recent popularization of alcohol-free adult beverages originated in Europe, and the phenomenon seems to be crossing over to the US. 

For instance, Dry January or pledging not to drink alcohol during the first month of the year has been present in the UK for close to five years. Now the movement seems to be going mainstream, and it’s believed that approximately one in five Americans participated this year.

Chris says that the overall consumption of alcohol has been on the decline. People are drinking less than ever, and younger generations are drinking less than any other generation in history.

Chris also believes these trends are caused by the fact that people are becoming more conscious about their health. 

It seems that providing people with a healthier option at the bar or nightclub will only become more important as time goes by.

How raising on Republic has affected Chris and his business

Before setting up their Republic campaign, Chris and his partner spent an entire year pitching to angel investors and VCs. They invested a lot of time and effort trying to find people who’d be the right fit.

This is why Chris loves the transparency of crowdfunding and the amount of direct insight provided to the investors. He finds it refreshing to be completely open about all aspects of their company and what they’re trying to accomplish. It’s “a very honest approach,” as Chris calls it.

The opportunity to go back and forth with their audience and investors has provided precious insights for Chris, not just about their company but also about the alcohol-free industry in general. As more and more personal stories are shared, the team’s focus has switched from the product to the people—the drink lovers at the center of the movement.  

Drink Monday has successfully raised their goal, and they’re currently working hard to bring their vision to life. Their expansion plans sound exciting, and Chris believes they’ve just scratched the surface of what their company can do.

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This content is provided for educational purposes only by Republic. Nothing discussed should be construed as legal, tax, accounting, or investing advice. The views of the presenters may not be the views of Republic and its affiliates. Always consult with trusted professional advisors before making investments. Private investments are inherently illiquid and may result in a total loss. All rights reserved.