Jump-starting your food business is easy with crowdfunding. A method of raising money in small amounts from friends, family, and strangers on the Internet, crowdfunding helps to launch innovative businesses everyday. Kickstarter is a popular online crowdfunding site where entrepreneurs post videos and descriptions of their projects, offer incentives for people to give money, and raise money towards a goal.
If the project creator reaches the goal, then the donors are charged their donation. Around a million dollars is distributed every week to Kickstarter projects. 55 percent of proposed projects are approved by Kickstarter staff, 45 percent of which meet their goals.
Only nonprofits and specific businesses are allowed on the site-charities, causes, and more general projects don’t get the go-ahead. Food is one of the most popular categories on Kickstarter. From food trucks to cooking classes, small food businesses benefit from the crowdfunding strategy. Got a food-related idea that you think would work well with Kickstarter? Check out Civil Eats’ guide to Crowdfunding Culinary Creativity with Kitckstarter.
Through crowdfunding, entrepreneurs are making their dreams reality. One couple that also turned their food fantasy into a profitable business is Antonio Ramos and Caroline Mak. The founders of Brooklyn Soda Works, Ramos and Mak started selling their creative sodas in a Fort Greene flea market. Now their drinks are distributed at famous New York restaurants like Blue Hill and Danny Meyer’s new restaurant called Untitled.
The NYC pop-up What Happens When gained funding through Kickstarter. To read about that project and more check out Food Republic’s article.
If you have a smaller idea for a food product or service, check out Kickstarter. Crowdfunding could be your ticket to success.