His aha moment: Bad tonic kills good gin. So he decided to mix things up.
Twenty-two years ago Charles Rolls was a regular working stiff. He was just turning 40, and had no great successes to his name. He’d been a mining engineer, and didn’t like it. “I was the world’s worst engineer,” he recalls. He’d tried to launch an exercise bike venture. It failed. He was now stuck working as a consultant in the commodities business — and hated it. “I couldn’t bear it any more,” he says. “I was absolutely miserable. This was not what I wanted to be doing with my life.
Kicking yourself for not buying Apple AAPL, +1.13% or Netflix NFLX, +2.20% five years ago? Fevertree is up over 1,000%. A $1,000 stake would now be worth $11,000 and change. A big gamble It was a huge gamble. Rolls was newly married — usually a time when people start to think about playing it safer. Meanwhile the business he bought seemed headed for extinction. “It was very nearly dead,” he recalls of the company. “We had no money. Our marketing budget in the first year was 100,000 [British] pounds. [About $220,000 in today’s money] We were losing about 25,000 pounds [$55,000] a month.” The company, founded in 1793, was an aging relic.
“Fortunately, I knew nothing,” says Rolls. “Sometimes it’s an advantage not to know anything about a business. I had no relevant experience.” The lesson stuck with him. Following Plymouth, growing numbers of companies were experimenting with higher end and “artisanal” liquors. Yet the mixers — tonic, seltzer, ginger ale and so on — hadn’t changed. They were made by big manufacturers, whose main concern seemed to be cutting costs, so they weren’t undercut by supermarket’s “own label” mixers. In 2003 a young entrepreneur, Tim Warrilow, came to Rolls with the idea to launch a new drinks company. “He wanted to launch a gin.
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