156 – The Business of Vintage Whiskey with Justin Sloane of Justin’s House of Bourbon and Larry Rice of The Silver Dollar

How are businesses able to take advantage of Kentucky’s House Bill 100 or better known as the Vintage Spirits Law? Today’s show features two opposite side of the spectrum. We have one side doing retail with Justin Sloane at Justin’s House of Bourbon in Lexington, and the other is on-premise at a restaurant with Larry Rice of the famed Silver Dollar in Louisville. Both of these places are known for having unique bourbons on the menu and we get an inside scoop into how this law has effected their business. We wrap up the show with their greatest dusty hunting stories.

Show Notes:

  • Talk about how you got into bourbon
  • It seems like many people got started with collecting Maker’s Mark. Are any of them valuable now?
  • Justin, talk about the launching point for The House of Bourbon, was the spirit law a big motivating factor?
  • Why did you think a package store would be the best way to capitalize on House Bill 100?
  • Why aren’t more liquor stores investing in this business model?
  • Larry, you saw the writing on the wall pretty early and Silver Dollar became a destination for bourbon trail people. What was the idea of having a very large whiskey catalog?
  • Where did the honky tonk aspect come from?
  • What is it about vintage or dusty whiskey that they bring to the table?
  • Talk about how you began acquiring all these bottles
  • Do you feel uneasy knowing you have all these unicorns and you won’t get to try it?
  • How are you managing inventory?
  • What’s your target market?
  • Larry, I think you’re getting locals that are just now getting into the scene but don’t know about the forums.
  • Do you find it funny that old people thought this was rot gut?
  • Do you want them to fly off the shelf?
  • Do vintage spirits have big revenue or is it just value-add?
  • Will there be an end in sight of getting hands on dusty bourbon?
  • Lets wrap it up with your best dusty hunting story

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