Michael Waltrip's Taproom: Racing into the Franchise World

After a successful career in the world of NASCAR, Michael Waltrip, the 2x Daytona 500 champ and current racing commentator for FOX, was ready for a whole new race. One day, in 2019, while enjoying some quality rest and relaxation with friends in wine country, inspiration struck.

"It was just three guys having a nice buttery chardonnay getting ready to play some golf,” said Waltrip. “We all looked at each other and asked ourselves: ‘Why don’t we drink more beer?’ I was never really a beer guy, but I was tired of drinking Miller Lite. What if we could brew a craft beer that wasn’t too fancy? If you know me, you know I’m not a fancy guy. I am blue collar — I love golfing and getting out on the lake. What goes better with that than a cold beer?”

And with that, Waltrip was off to the races once again.

From Racing to Brewing: The Origins of Michael Waltrip Brewery

To do their research, Waltrip and his team visited micro-breweries and pubs in Colorado, taking notes on what they liked and disliked about different beers. Out of these experiences, they developed three core beers: a Coconut IPA, a Blonde Ale and a Mexican Lager. They later added a fourth beer, the Bristol Sunshine Tangerine Ale.

Then, the COVID-19 pandemic hit. Waltrip and his team took a step back and evaluated their future. They ultimately decided to batten down the hatches, take a pit stop and focus on perfecting their menu and getting their beers into stores. 

“As my mom used to tell me: This too will pass,” said Waltrip. “I knew COVID-19 was going to be a big challenge for small businesses, but we understood that we needed to take a deep breath. We didn’t push forward and the strategy paid off — we came out on the other side with our first location open.”

In 2020, the first Michael Waltrip Brewery opened in historic Bristol, Virginia, where it brews and serves over 30 beers. Michael Waltrip Brewing Company beers are distributed in five states and available at retail stores and bars/restaurants, as well as sports venues. The flagship location also recently won the Best in Bristol award.

Last year, following the success of the Bristol location, Waltrip connected with Elevatus Brand Partners to start thinking about growth. Elevatus Brand Partners — founded by franchising industry giants Ken McAllister, former CEO of MY SALON Suite; Robert Stidham, founder and CEO of Summa Franchise Consultants; Joe Lewis, former CEO of Smoothie King; and COO Jena Henderson, former VP of Growth at Saladworks — aims to elevate emerging and midmarket franchise organizations by providing innovative leadership and improved operations and resources. With existing investments in restaurant, service and healthcare franchises, the company was excited to expand its portfolio with the addition of Michael Waltrip Taproom. 

“Michael has an incredible passion for great beer, great food and a great time, so we knew we would be able to follow that vision and use our resources to help the brand grow,” said McAllister, Co-Chairman of Elevatus. “It all starts with Michael. We really appreciate that he has invited us to partner with him, and we are confident that the Michael Waltrip Taproom can win the race and become one of the nation’s most successful sports venues.”

Now, with the backing of Elevatus, the brand is opening a new Michael Waltrip Taproom location at the Charlotte Motor Speedway in Concord, North Carolina and is entering into the world of franchising with a goal of opening 100 locations across the nation within the next five years.

“Our goal is to be a national brand,” Waltrip said. “We think our beers are worthy of being tried by people all over the country. When we met the Elevatus team, it really threw that plan into full gear.”

A Racer's Approach to Business and Franchising

Waltrip certainly isn’t the only celebrity dipping their toes into franchising recently. Bar Rescue star Jon Taffer recently launched his Taffer’s Tavern franchise, celebrity chef Bobby Flay has embarked on a new franchise brand called Bobby’s Burgers and NBA legend Shaq is currently in the midst of growing his chicken sandwich franchise Big Chicken.  

When it comes to Waltrip, he says there's no difference between how he approaches owning a brewing company and racing a car. Both require hands-on involvement, teamwork and a strong support system. 

“I couldn’t race a car if I didn’t have a sponsor’s name on the side — you have to know how to sell yourself,” said Waltrip. “In 1981, my first season, I needed $500 and free parts so I could go racing. During my first ever trip to pitch myself to a sponsor, I sat down in front of them, made a portfolio of what I was going to do and presented it, all during my lunch break at the Pepsi plant. They said yes. Being prepared, having a plan and trying to sell who you are — that has always been a part of my life.”

Images courtesy of Michael Waltrip Taproom

But as the Taproom moves into franchising, Waltrip says he recognizes the importance of staying in his lane and focusing on his strengths. That is why he leaves the franchising expertise to Elevatus, which has a leadership team boasting over 100 years of collective franchising experience.

That expertise is already apparent throughout the brand’s unique business model, which aims to keep costs down for franchisees by strictly repurposing second-generation real estate rather than requiring new construction. 

“In the spirit of NASCAR, we are all about speed-to-market for our franchisees,” said Stidham, Co-Chairman of Elevatus. “When we acquired this real estate in Charlotte, for example, it only took us about a week to convert the space into a Michael Waltrip Taproom. Time is money. We are going to be more flexible with our business model to ensure franchisees can lower their start-up costs and reach profitability faster.”

The Future of Michael Waltrip Taproom

With plans to open 100 locations across the nation within the next five years, the Michael Waltrip Taproom hopes to become a major player in the franchise industry. The partnership with Elevatus Brand Partners will provide franchisees with the support and expertise they need to succeed, Waltrip says.

As for Waltrip's personal goals, he hopes to see more Michael Waltrip Taprooms pop up across the country, and ultimately, to see people enjoying his beer with a smile on their face. As he puts it, "Nothing feels better than seeing someone you don’t know drinking one of your beers. They had a choice, and they chose my beer. That is special."

Now, as the Michael Waltrip Taproom races into the world of franchising, it carries with it the spirit of teamwork, innovation and dedication to quality that has defined Waltrip's career both on and off the racetrack. 

“A racer is only as good as their car,” Waltrip said. “You may be the best driver in the world, but if you don’t get the car right, you can’t showcase how good you really are. My favorite thing is partnering with people smarter than me. I like to surround myself with people who care — people with heart. I want to keep building the brand of Michael Waltrip Brewing, and I can’t wait to see where the future goes.”