On April 25th, Our 45 day crowd funding campaign came to a close. For those of you who saw the Indiegogo website you will probably notice that we did not meet our ambitious goal of $50,000. Ambition… oh yeah! It was probably too much to ask for, however, we felt we were offering some really great perks. Alas, the campaign ended with a small amount of contributions which we are very thankful and happy to have the support.
Here is a list of some of our observations:
- Ask for no more than $5000. If we get more then great. It does looks better when the percentage of contributions is in the double digits.
- We thought that a 50% discount on kitchen rental time would be a big incentive for food businesses. I guess food businesses wanted more security to know that there will be a kitchen to use. We understand. If we build it, you will come, but not anytime sooner.
- Our only currency for the perks was kitchen time. The foodie perks were too disconnected with regards to what our main business is. Are they making food? Are they selling equipment?
- We realize that crowd funding really works when you have a sweet product to hawk. People like unique things in their hands. Kitchen time is difficult to hold on to with your fingers.
- The real success was the publicity and promotion we received for the concept. This is fairly new in Ottawa, so it took time for it to really sink in what we are really doing. More than 600 people visited the campaign website.