Tyrrells Entrepreneur Does it Again - with Vodka!

This has to be one of the best business studies articles published in 2010 - a great story packed full with classic business studies concepts….

The Telegraph has this excellent interview with Will Chase - the entrepreneur behind Tyrells Crisps. In it, Chase describes how he is attempting to build a second successful business, making vodka from potatoes grown on his Herefordshire farm.

I first remember Will mentioning his plans for Vodka at our Business Teacher National Conference in 2006. His presentation was fantastic and right at the end, in response to a teacher question about how he might diversify from potato chip production, Will mentioned that he was “experimenting” with vodka. We should have asked Will to bring some samples along!

The article describes how Will Chase has followed through on that initial idea. Some great business studies topics are mentioned, including:

- Reinvesting personal funds from the sale of a majority stake in Tyrrells Crisps
- Inspiration for the business idea - a trip to the USA
- Rebranding the new product to avoid confusion with / damage to Tyrrells
- Chase Distillery capacity utilisation - about 33% currently
- Significant investment in capacity - land, equioment
- Labour intensive production process - increases the break-even output
- USP - quality not price
- Pricing - 300% higher per litre than supermarked branded vodka - competing with other premium bands
- Distribution - difficult to build
- Award of world’s best vodka has really helped boost demand & distribution (power of PR)
- Exporting: 50% of revenue is to international markets, but exports will soon dominate