£26k/3months of crowdfunding management??
Discussion
Having read a little of what it actually takes to successfully run a crowdfunding campaign, I looked into crowdfunding management outfits and received a rather basic quote from a UK outfit.
£8k per month over three months +10% 'operating costs' - approx £310 per day.
I would be interested in hearing thoughts, opinions - anyone involved in crowdfunding campaign management perhaps?
£8k per month over three months +10% 'operating costs' - approx £310 per day.
I would be interested in hearing thoughts, opinions - anyone involved in crowdfunding campaign management perhaps?
Yes, that confirms my suspicions as I'm definitely *not* looking to fund anything like a £5m project! 'kin 'ell.
After getting back to them yesterday about how their fee would pay for the first set of tooling and manufacturing for launch, they even suggested I keep quiet when building their figure in to the required campaign funding level. That's how embarrassed they appear to be about their own fee!
After getting back to them yesterday about how their fee would pay for the first set of tooling and manufacturing for launch, they even suggested I keep quiet when building their figure in to the required campaign funding level. That's how embarrassed they appear to be about their own fee!
I do t think that was embarrassment, it was just them explaining how it can be so high as you're obviously just going to spank it out of the punters.
It's the same model used in the traditional penny share market which is really all this stuff is just veneered with a lot of Silicon Valley hocus pocus, or what is more traditionally referred to as turd polish.
It's the same model used in the traditional penny share market which is really all this stuff is just veneered with a lot of Silicon Valley hocus pocus, or what is more traditionally referred to as turd polish.
DonkeyApple said:
turd polish.
Yep, you've made your dislike of all things crowdfundy clear. As in, every time the topic comes up.I don't think you could incorporate £26k in addition to the required start up capital without it being flagged as a suspiciously high funding target. Personally.
ReaderScars said:
Yep, you've made your dislike of all things crowdfundy clear. As in, every time the topic comes up.
I don't think you could incorporate £26k in addition to the required start up capital without it being flagged as a suspiciously high funding target. Personally.
What's the total amount you are trying to raise? As a general principle I wouldn't accept a fee structure like the one you described that has no contingent amount based on whether they are successful or not!I don't think you could incorporate £26k in addition to the required start up capital without it being flagged as a suspiciously high funding target. Personally.
ReaderScars said:
DonkeyApple said:
turd polish.
Yep, you've made your dislike of all things crowdfundy clear. As in, every time the topic comes up.I don't think you could incorporate £26k in addition to the required start up capital without it being flagged as a suspiciously high funding target. Personally.
For example, why would you even consider fees such as these is the amount you'll be raising isn't in the hundreds of thousands? What is so terrible about your business that you have to even consider this model for the small amount that you are looking to raise?
NickCQ said:
What's the total amount you are trying to raise? As a general principle I wouldn't accept a fee structure like the one you described that has no contingent amount based on whether they are successful or not!
I completely agree about the fee structure - I was surprised when I was told the first invoice would be issued on signing of contracts.Total amount is, perhaps £25-£30k - but it could well be less if I can get tooling made in the hundreds rather than thousands. The components aren't complex.
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