Lots of people dream about having their own business, but are stopped by a lack of funds. It takes money to buy equipment, renovate premises, legal fees, builders, electricians, marketing and the stock to get started. Maybe the bank will help, or a rich admirer – we wish!
Another option is Crowdfunding – where you put an investment proposition together and raise money from a lot of small investors. In this interview, Ken Burgin talks with icecream entrepreneur Scott Kilmartin of VintageIceCreamTruck.com. He’s currently funding the renovations of his icecream truck Grace – the campaign starts on 8 September 2015. Scott has spent several months building interest using social media, particularly with the Vintage Icecream Truck on Instagram. We also discussed the first plans for this in Podcast 130 on Social Media, Food Trucks and Icecream – now it’s really happening!
Crowdfunding is a great idea and it can be successful IF you prepare properly and understand how the process works. That’s what Scott explains to us in detail – how he’s going through the funding process and how it could work for your new restaurant, cafe or bar. Just recently a country town in Australia raised $600,000 through this process to rebuild their beloved pub that burnt down – anything is possible! Other small projects include the Wild Timor Coffee Flagship Cafe and the Red Robin Supper Truck.
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