A Salford-based business turned heads when it crowdfunded £250,000 worth of investment in just one hour. Mancunian Matters sat down with Salford Rum Company co-founder Tommy Gaughan to discuss their recent success and the exciting plans they have for the future.
The Salford Rum Company surpassed their investment target of £250,000 in one hour when they opened for investment.
Founders Tommy Gaughan, 36, and James Harrison, 37, will use the investment to scale up the Salford-based business – with plans to upgrade their Dirty Old Town Distillery just off Blackfriars Road.
In an interview with Mancunian Matters, Tommy (pictured right) said: “We want to be a true challenger brand and sit alongside some of the large brands that are owned by the big boys. And we feel we can do that with Salford Rum.
“But we just needed that extra boost and support to get us there.”
The investment facilitates an ambitious three-year plan for Salford Rum in which they aim to grow the brand to five times the size they are now.
The expansion of their distillery is at the heart of this plan – in particular the addition of a new mezzanine floor.
Currently the brand’s distilling operation and ‘Spiced Rum Experience’ share the same space – Monday to Thursday they use it for distilling and from Friday to Sunday the focus is on the experiences.
But the addition of a new mezzanine floor will allow their rum experience to move upstairs.
Tommy explained: “We’ll have a nice new bar, a dedicated area where we hope to offer some additional offerings in terms of the rum experience. And it allows us to run them in the week as well so we can start to really tap into the Manchester tourist scene.
“We currently get about 100 people a week through the doors. We expect to double that to about 200 post-investment. And then that additional floor space that we create downstairs will be dedicated to production.”
Tommy and James – schoolmates from Leigh – attribute their success in crowdsourcing this investment to a ‘cult following’ and an ‘established national footprint’.
They first introduced their product at local makers’ markets and by driving around Salford handing out bottles to people at their doorstep.
Tommy revealed: “Our greatest advantage has been our lack of industry experience because we’ve kind of just created products that we like the taste of – and then ultimately the general consumer seems to love them as well.
“It’s just about getting out there and getting liquid on people’s lips!”
The founders consulted local bars in the development of their rum’s flavour profile as well.
“After we launched we were going to bars, we started to get feedback, and then that’s what’s led the development process we’ve gone on since.
“So the dark spice rum, for example. It’s a little bit bolder, it has cloves, a bit of caramel, and it stands up really well in cola, ginger beer and cocktails.
“And that is the result of feedback we were getting from bartenders. They wanted something that was a better base to work within cocktails like the dark ‘n’ stormy and the Cuba libre.”
The depth of their brand’s connection to Salford is another one of the selling points that Tommy is proud of.
“The history of Salford is incorporated in the product in every touch point. The liquid is inspired by the spices that passed through the docks. The ceramic bottle is in keeping with the time when the docks were flowing with goods and people. And the artwork is in keeping with the time as well.”
The founders even consulted the old dock records at Salford University and were amazed at the wealth of rum that passed through Salford Docks back in the day.
Tommy added: “I think we find that’s what resonates with buyers, be them international or national retailers. We’re not just, ‘this is a rum made in Salford’. It’s got some real depth to the brand and the story.”
Their journey began in 2018 with just £5000 to produce their first 100 bottles of premium rum.
The business was valued as £2.7 million pre-valuation and their product is now stocked in thousands of outlets across the country including Selfridges, Waitrose, Co-op, Morrisons, Amazon and The Ivy as well as being listed in World Duty Free.
Tommy said: “It’s awesome to have that support and backing from people who’ve been drinking Salford Rum for five, six years now.
“But it feels like it comes with a lot of responsibility as well. We have investors that will want a return on their investment. And, if anything, I think that gives us more of an incentive to go and deliver the plan that we’ve put in place.”
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