067: Find out what this Beer Company is Brewing Up… (Jamey Price of Grayton Beer)

Background on Jamey Price of Grayton Beer:

Jamey Price is the Founder of Grayton Beer. He hails from Vicksburg, Mississippi and graduated from the University of Mississippi with an Accounting degree. After graduation (and a stellar baseball career at Ole Miss), Mr. Price and his wife moved to Florida in 2005 to work for a software company. Searching for an opportunity to put roots in the community, Price wrote a 48-page business plan, and Grayton Beer Company was born.

The initial interest in Grayton Beer Company began more than 15 years ago, when Jamey spent a summer break from Ole Miss on Lake Tahoe. This was where he had his first sip of Sierra Nevada Pale Ale and was hooked on great-tasting beer. Fast-forward more than a decade through a career in software, a marriage, a move from Nashville to the beach, and a few babies. He and his wife, Candace, appreciate everything about life on the Florida panhandle. This, coupled with his passion for small batch beers, was the perfect recipe to start Grayton Beer Company.

Time-Stamped Show Notes:

[1:45] Originally, Jamey wanted to start local brew pubs, producing their own bread, making box lunches for the beach goers, and eventually producing their own beer.
[3:41] Before Grayton Beer, Jamey and his wife invested on real estate and buying properties.
[6:34] Jamey created Grayton Beer out of necessity. The economic downturn forced him to come up with multiple business ideas, and one of them was Grayton Beer.
[7:51] At the start of his company, Jamey used a third party brewery to help him produce his beer.
[8:21] They brewed their own beer on January 1st, 2014 and it cost him around 2.5 million dollars, which was a huge leap for his company.
[10:35] His experience with the 3rd party brewery taught him a lot when it comes to running his own brewery company.
[13:59] Jamey explains that the brewery is a full time job, and he says “I don’t clock in and clock out, I’m always clocked in.”
[15:21] It is important for Jamey to try to exceed their business plan. They know that they will have to go through failures in order to succeed. They are excited about the future because most of their expectations are being met.
[19:27] When hiring people, Jamey makes sure he knows their value system and truly understands their personality.
[22:47] The first time Jamey decided to fire one of his employees, he asked the advice of his best friend, who has a lot of experience in managing people.
[25:31] Dominating the home market and the local community was a huge factor in the success of his beer business.
[28:55] He didn’t have any problem selling his first beer. His first wholesaler was a local wholesaler, which worked successfully for both of them.
[40:05] His advice to fellow entrepreneurs is to have a solid plan and make smart decisions that could positively influence the future of the business.
[41:00] Jamey knew it was challenging to hire people from other states and get them to move to their place.
[43:40] “I’ll take every bit of advice you guys are willing to give, it helps me become a better person and a better business person.”

Fabulous 4 Questions:

📖📚 Favorite Book(s)? The Great Gatsby by Scott Fitzgerald – I read it twice a year.
🙌😎 Favorite Amazon.com purchase? My wife does the purchasing.
🌱💸 Favorite Tool that's GROWN your Business? Orchestrated Beer with SAP B1 Financials for Accounting and VIP for Wholesaler/Customer Management.
💭💡 BIGGEST Challenge keeping your Business from GROWING? Acquiring talented people to move to our area.