By Karan Bilimoria
Cobra Beer is a real company luck tale. it truly is nonetheless one of many quickest turning out to be beer manufacturers within the united kingdom, with a present turnover of £126 million at retail price. it really is exported to over forty five nations world wide, and is accessible national in additional than 6,000 indian eating places, 5,000 grocery store retailers and off-licences, and approximately 6,000 bars, golf equipment and pubs. This ebook will get to the guts of why & how Cobra has constructed into one of many world's best-loved manufacturers, and gives nice company insights for each entrepreneur who desires to carry their imaginative and prescient to life. Read more...
summary: Cobra Beer is a real enterprise luck tale. it's nonetheless one of many quickest turning out to be beer manufacturers within the united kingdom, with a present turnover of £126 million at retail price. it's exported to over forty five international locations around the globe, and is accessible national in additional than 6,000 indian eating places, 5,000 grocery store retailers and off-licences, and approximately 6,000 bars, golf equipment and pubs. This ebook will get to the guts of why & how Cobra has constructed into one of many world's best-loved manufacturers, and provides nice company insights for each entrepreneur who desires to deliver their imaginative and prescient to existence
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Extra info for Against the grain : lessons in entrepreneurship from the founder of Cobra Beer
I wanted a premium lager that combined the smoothness of real ale with the refreshing qualities of a lager, and one that 23 AGAINST THE GRAIN was about 5 per cent ABV – not the 4 per cent Pals or the 8 per cent Knockout. Then there was the issue of the brand names. Pals was too similar to the popular brand of pet food, Pal. As for Knockout, there was no chance the UK Trading Standards would allow that name to be used for a beer brand. It was a daunting prospect, but it was obvious that the only way forward was for Arjun and me to come up with a brand of our own, and for the Mysore Brewery to produce an entirely new recipe to our specifications.
Chande and Brahm are two key figures in the Cobra success story. The loan came through in December, the day before my wedding day, making the happiest day of my life that much happier; especially as I avoided giving up a third of my company. Look at the difference. We raised the £250,000 by, in effect, giving away 5 per cent, when the venture capitalist wanted 33 per cent. I have nothing against venture capitalists, but we have never used them because quite often, especially in the early days, you have to be prepared to give away a huge proportion of your equity.
Potentially this was a company-making deal for Cobra. There was just one hitch. Gandhi was in a position of power and, with a superb credit rating, expected 60 days’ credit from us. It had no intention of paying cash on delivery. Cobra, on the other hand, had no credit rating as such. Nor did we have sufficient funds to pay for a container load of beer, deliver it to Gandhi and then wait two months to get the money back. I was faced with a dilemma. Gandhi was the key to moving the business to the next level, it had finally agreed to be a distributor, yet we couldn’t fund the ongoing business on the credit terms proposed.
Against the grain : lessons in entrepreneurship from the founder of Cobra Beer by Karan Bilimoria