ESPN – The ready-to-serve mint julep cocktail that is poured into the glasses this weekend is made by Early Times, which has been making the official drink for the past 26 years. At retail, you can buy the cocktail for $13 for a liter, but given the quantity Churchill Downs uses, it’s safe to say they’re paying much less. Unfortunately, I don’t know how much less, so I’m forced to work with the retail numbers. To make 120,000 mint juleps, Churchill Downs says it uses 10,000 bottles of the mint julep cocktail, 60,000 pounds of ice and 1,000 pounds of mint. The track also uses spring water (most recipes call for about an ounce in each 12-ounce glass).
So here’s our total tally based on current market prices:
10,000 bottles of mint julep mix = $13,000
60,000 pounds of ice = $3,000
1,000 pounds of mint = $20,000
120,000 ounces of spring water = $6,000
So that’s $42,000 to make 120,000 mint juleps. That’s $2.86 each. Then you add the gross cost of the souvenir glass, which figures to be about $2 considering the glass itself retails for $4, and we’re done. So to recap, based on our rough calculations, the cost for the entire mint julep at the Derby is $4.86. It retails for $11. Now there are some labor costs in here, but considering we used the retail price for the mix, it’s a fair assumption they’re already baked in. At roughly $6 profit in each mint julep, Churchill Downs would clear more than $700,000 in profits off this one drink. Amazing.
Haha. Idiot. Guy can’t even do math. Must be pretty embarrassing for a dude who brags about correcting other people’s mistakes.
PS – Look Big Cat! I’m doing it! I’m doing it!
hat tip - Marauding Marauder