As bars across the world regroup and work out strategies for moving forward, Death & Co are again asking its patrons to be a fundamental part of its future.
Death & Co. which the LA Times has called “one of the most sought-out places to drink in the country” has played a pivotal role in the modern cocktail movement.
Aside from its three brick and mortar locations (New York, Denver & LA) Gin & Luck – the parent company behind the Death & Co brand, as well as the globally-recognized consulting and management firm, Proprietors LLC – is seeking to use crowdfunding to pursue cocktail-anchored international business opportunities in hospitality, retail, and media.
The SeedInvest crowdfunding opportunity is the second that the brand has raised. The first, back in 2018, became the most successful hospitality raise and the second most successful Reg CF raise ever on the SeedInvest platform.
Going forward, this new investment opportunity, classified as a Reg A+ raise, (which is akin to a mini-IPO) and is open to both accredited and non-accredited investors, in an attempt to strategically further expand the businesses.
Seeking to raise somewhere between $4-6 million, the brand is looking to provide its staff with the sort of benefits expected from non-hospitality companies, such as health insurance, wellness programs and retirement packages, as well as offer customers a chance to be part of the business growth.
“Equity crowdfunding is all about enabling customers to own a piece of their favourite company,” said Ryan Feit, CEO & Co-Founder of SeedInvest.
And for the three owners of Death & Co, Alex Day, David Kaplan & Devon Tarby, the hope is that there will not only be the love but also the belief among investors that the brand can not only expand but flourish.
With an understanding that bars need to be nimble, dynamic, and diversified, the brand is pursuing opportunities to expand its purview far beyond the typical hospitality experience.
Margins in bars have never been great but after the last year, many in hospitality are now looking at ways they can diversify. Yet for Death & Co., these divergent steams have always been part of the long-term strategy.
Some of the investment ambitions include:
- Creating new brick and mortar location opportunities
- Expanding Proprietors, LLC with more training programs and property opening consultations to be considered the go-to “best in class” in this arena, with attention to diverse staffing in all markets.
- Offering more consumer products through Death & Co’s digital marketplace, including more book titles to join Death & Co: Modern Classic Cocktails (2014); Cocktail Codex: Fundamentals, Formulas, Evolutions (2018); and the forthcoming Death & Co, Welcome Home
A Gin & Luck service industry educational platform. (“We love to teach,” says Tarby.)
- The creation of the Midnight Auteur hotel group, which seeks to build properties with themes and services that will “resonate” with the culture of the chosen home cities.
Death & Co are also looking to enter into the popular and ever-growing RTD canned cocktails space with both alcoholic and non-alcoholic drinks. In partnership with Craft Spirits Cooperative these well crafted, shelf-stable drinks will offer a taste of the in-bar experience.
Perhaps most importantly, this diversified business model will provide Death & Co. with further company stability in the event of future business interruption, such as natural disasters or future health-related shut-downs.
For more information, go to seedinvest.com