Cardinal Spirits plans to operate a craft distillery in Bloomington where it will produce premium and ultra-premium gin, vodka, whiskey, liqueurs and other distilled spirits. Like the recent craft/micro-brewery movement, there is significant consumer interest in craft distillers - people are thirsty for thoughtful, high-quality spirits. Cardinal will emulate the concept of a winery or brewery that reflects the tastes of the region but with distilled spirits.

A highlight of the Cardinal Spirits strategy is its plans for a tasting room and high-end retail space called the Birdhouse - a place to learn about the craft, meet the distillers and sample spirits in a meaningful way. Located in the heart of downtown Bloomington, the Birdhouse will offer guests guided distillery tours and tastings plus small food plates that are locally sourced whenever possible. Spirits will be sold by drink, bottle or case from the Birdhouse an opportunity facilitated by recent changes in state legislation. In many ways, the Birdhouse can be compared to the experience visitors have at a brewery or winery.

In addition to selling at the Birdhouse, Cardinal plans to distribute its spirits to restaurants, bars, liquor stores and other end purchasers through a liquor distributor. Crafting delicious and unique spirits is the Cardinal mission, but its team is equally focused on smart and powerful sales and marketing strategy. The founders have significant experience in operating early-stage businesses and in branding and marketing. Cardinal intends to be a pillar of the Bloomington community by providing a great craft distillery experience not only to residents but also Indiana University alumni, students and visiting parents.

Missing
Jeffrey Wuslich, President

Financial Summary

Previous Fundraise Summary

Security Type Preferred Equity
Investor Eligibility All Investors
Minimum Investment $2,500
% Offered 36.20%
Voting Rights Yes
Valuation $1,500,000

Offering Materials

You may download these documents for your own use.

Financials

Financial projections are subject to certain risks of the business and may not be achieved. Projections only contemplate projected cash flows, are unaudited and may not be formulated in accordance with US Generally Accepted Accounting Principles. Consult the investment materials for more information on business specific risks and a discussion of the key risks that may impede the achievement of the revenue forecasts presented. There is no guarantee that an investment may achieve any level of return. Review our Risks of Investing before making an investment decision.

Funding Plans & History

Pitch Deck

Pitch Deck

Team

Missing

Jeffrey Wuslich

Missing

Jason Katz

Missing

Rick Dietz

1533873362 adam smile

Adam Quirk

About Cardinal Spirits

Entity Type LLC
Social Media
Website

Headquarters

Company Updates

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Discussion

RD
Richard D

I look forward to Cardinal logo on these items for my friends to see.

almost 7 years ago
1533873461 2f1d923
Jonathan M

I agree with Richard D. I like the whiskey glasses, but would give many as gifts if they had your logo etched on them.

over 6 years ago
1 reply
1533873362 adam smile
Adam Quirk
at Cardinal Spirits
Team Member

Question: If retail is a focus, who on the team has experience in Consumer Packaged Goods (CPG)? If not, how is this expertise being sought out? [Related and mostly out of curiosity: What is the decision-making time for consumers at shelf?]

over 7 years ago
1533873362 adam smile
Adam Quirk
at Cardinal Spirits
Team Member

Retail sales at all levels are a main focus for us. Unlike other distilleries we are putting as much effort into our sales and marketing as we are into creating high quality spirits.

Adam Quirk is leading our design team. He gets assistance from a number of people:
Steven Grasse, creator of Hendrick’s Gin, Sailor Jerry, and Art in the Age spirits
Julia Rickles, designer, has helped with brand identity.
Larry Buchanan, designer, worked on some earlier branding and continues to advise from NYC.
Adam Quirk, has a large network of branding, marketing, and design experts that he can draw on from his time in NYC.
Peter Aslante, is also involved with our design. He has worked in advertising and branding for 10 plus years. He works for BBDO one of the largest advertising agencies in the world.
Vendors; including the glass bottle maker, the topper provider, and the label company all offer significant insight into design, feasibility, and compliance.

It’s also important to note that many major companies spend a lot of money and time trying to look small and authentic. There’s no substitute for being true to ourselves and our vision.

In regards to decision-time for consumers at shelf the research is all over the board. From 44 second to an odd formula that is based on the cost of the item and the value of your time. Research is also mostly focused on shopping done in a grocery store for household items.

Our thoughts are the following:
We hope to convince most buyers before they enter the store to purchase our product.
We will use hang tags, informative stories, and excellent displays to sell more product.

over 7 years ago
JM
Jeff M

So, the projected return for investors in AA Preferred stock is original investment back plus subsequent share of profits on an ongoing basis? Is that share of profits returned capped (eg the same amount invested originally)? Is the AA pfd redeemed after any certain period of time or return?

over 7 years ago
JK
Jason Katz
at Cardinal Spirits
Team Member

The projected return to preferred stock investors in the slide deck is based on the projected cash flows in from the investor as well as cash flows in the form of distributions to the preferred stock holders over a 5 year period. We have structured the investment in such a way that the preferred stock holders will receive all of their investment capital back in the form of distributions before the common equity holders (founders) receive any money from the business. This is the 'preference' on the stock. After each preferred stock holder has received back their investment in full, the subsequent distributions from the company will be shared by both common and preferred equity holders based on their share of the entire equity outstanding. The amount of distributions are not capped. Our return example in the slide deck shows the first 5 years, but distributions will continue as long as the preferred equity holder owns the security and their is free cash flow availalbe to be distributed. These distributions are at the discretion of management and will be based on the free cash flow that is generated from the business less any amounts that will be reinvested in the business for capital expenditures and growth. There is no set redemption date or trigger for preferred equity holders. Please let us know if this answers your question or if you need any further clarification.

over 7 years ago
3 replies

Company Updates

Sign Up on Localstake Marketplace to see details on this business.

Discussion

RD
Richard D

I look forward to Cardinal logo on these items for my friends to see.

almost 7 years ago
1533873461 2f1d923
Jonathan M

I agree with Richard D. I like the whiskey glasses, but would give many as gifts if they had your logo etched on them.

over 6 years ago
1 reply
1533873362 adam smile
Adam Quirk
at Cardinal Spirits
Team Member

Question: If retail is a focus, who on the team has experience in Consumer Packaged Goods (CPG)? If not, how is this expertise being sought out? [Related and mostly out of curiosity: What is the decision-making time for consumers at shelf?]

over 7 years ago
1533873362 adam smile
Adam Quirk
at Cardinal Spirits
Team Member

Retail sales at all levels are a main focus for us. Unlike other distilleries we are putting as much effort into our sales and marketing as we are into creating high quality spirits.

Adam Quirk is leading our design team. He gets assistance from a number of people:
Steven Grasse, creator of Hendrick’s Gin, Sailor Jerry, and Art in the Age spirits
Julia Rickles, designer, has helped with brand identity.
Larry Buchanan, designer, worked on some earlier branding and continues to advise from NYC.
Adam Quirk, has a large network of branding, marketing, and design experts that he can draw on from his time in NYC.
Peter Aslante, is also involved with our design. He has worked in advertising and branding for 10 plus years. He works for BBDO one of the largest advertising agencies in the world.
Vendors; including the glass bottle maker, the topper provider, and the label company all offer significant insight into design, feasibility, and compliance.

It’s also important to note that many major companies spend a lot of money and time trying to look small and authentic. There’s no substitute for being true to ourselves and our vision.

In regards to decision-time for consumers at shelf the research is all over the board. From 44 second to an odd formula that is based on the cost of the item and the value of your time. Research is also mostly focused on shopping done in a grocery store for household items.

Our thoughts are the following:
We hope to convince most buyers before they enter the store to purchase our product.
We will use hang tags, informative stories, and excellent displays to sell more product.

over 7 years ago
JM
Jeff M

So, the projected return for investors in AA Preferred stock is original investment back plus subsequent share of profits on an ongoing basis? Is that share of profits returned capped (eg the same amount invested originally)? Is the AA pfd redeemed after any certain period of time or return?

over 7 years ago
JK
Jason Katz
at Cardinal Spirits
Team Member

The projected return to preferred stock investors in the slide deck is based on the projected cash flows in from the investor as well as cash flows in the form of distributions to the preferred stock holders over a 5 year period. We have structured the investment in such a way that the preferred stock holders will receive all of their investment capital back in the form of distributions before the common equity holders (founders) receive any money from the business. This is the 'preference' on the stock. After each preferred stock holder has received back their investment in full, the subsequent distributions from the company will be shared by both common and preferred equity holders based on their share of the entire equity outstanding. The amount of distributions are not capped. Our return example in the slide deck shows the first 5 years, but distributions will continue as long as the preferred equity holder owns the security and their is free cash flow availalbe to be distributed. These distributions are at the discretion of management and will be based on the free cash flow that is generated from the business less any amounts that will be reinvested in the business for capital expenditures and growth. There is no set redemption date or trigger for preferred equity holders. Please let us know if this answers your question or if you need any further clarification.

over 7 years ago
3 replies
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