Two-time Daytona 500 champion Michael Waltrip joined ‘The Big Money Show’ to discuss the success of his brewing company and their goals for expansion.
NASCAR fans are accustomed to seeing two-time Daytona 500 champion Michael Waltrip on the racetrack, but now he’s getting behind the bar.
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The racing legend launched Michael Waltrip Brewing Co. in March 2020 and is now working towards opening 100 taprooms across America over the next five years.
Michael Waltrip smiles after practice during the Camping World Superstar Racing Experience event at Stafford Motor Speedway on July 2, 2022 in Stafford, Connecticut. | Getty Images
When co-host Jackie DeAngelis from “The Big Money Show” asked about his plans to overcome the challenges posed to the food and restaurant industry by the pandemic, Waltrip said, “We just had to adapt.”
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“When COVID hit, we were in Arizona and we were unsure whether to push forward or take a step back,” Waltrip explained. “We decided to take a break and relocate to the southeast, and we opened a historic brewery in Bristol, Virginia, where we offer 20 different beers. Our brewmaster is constantly creating new and unique brews. It has been a tremendous success, so we decided to expand into Charlotte, North Carolina.”
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One additional challenge that Michael Waltrip Brewing Co. has faced is inflation and the increasing costs of goods and services. Waltrip mentioned that his brewery has not only been able to “survive” but also “thrive.”
“It’s definitely a concern, but we have managed to not only survive but also thrive through it all. I believe it will make us stronger in the long run. And we have fantastic food here in Charlotte,” Waltrip said on Thursday. “
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“We are projected to generate $1.6 million to $2 million in sales at this location over the next year. And we have only been open for a couple of months, but we are on track to achieve that. So things are going well. You have to be resilient in times like these, and I believe our team is exactly that.”
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In light of consumers’ ongoing rejection of Bud Light, co-host Brian Brenberg inquired about how Waltrip plans to take advantage of the mass market opportunity.
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“A cold beer should bring joy to everyone. It should never alienate anyone,” he explained. “What matters most to me is seeing someone I don’t know enjoying one of our beers with a smile on their face. That’s what it’s all about for me. Just having a good time.”
“We simply want to enjoy good beer and have a good time without getting involved in politics,” Waltrip concluded.
