Crowdfunding Success

LocalGoat

Hey everybody, In case anybody is looking at doing a crowd funding campaign you can follow my progress. So far so good. I hired a great video company to capture what we had. I hope it works because we need it.

Local Goat Distillery @ Indiegogo

Let me know what you think. Yes I know immortalize is spelt wrong.

richard

Kudos for getting this far and trying to live your dream. Love your site and I think it will do you well. I see $400K spent so far. Is $500K the international standard ??? Would love to know how much others have spent to set up their distilling business.

grim

Buy vs Lease would have a major impact on that figure, and if you are in the buy camp, your geography.

There are plenty of places here in the US where $500k wouldn't even get you a passable commercial property.

LocalGoat

We started pretty big. I'm sure you can spend less on a smaller venture and what grim said. Lease vs. Buy. We purchased our building because it was a great deal and we did not want to make improvements on someone else's building. I'm think it would of been cheaper to build from the ground up as well instead of renovation of an old building.

grim

Yeah, you've got to really do your homework and go with what makes sense for your market and business plan. From the video you shared, that looks like a really cool property.

By the way, we don't have three-phase, and it's a headache, but we won't spend the capital to install it as it's cheaper for us to run inverters on our big motors. It's made finding decent chillers very difficult as single phase really limits options.

You planning to run an electric still?

squeakyclean

$500K??? A few percent of that...Then again I already own the property and I'm building a distillery / botteling location, not a shop and bar. Heck, I don't even have a coffee machine ;-)

grim

Nothing is cut and dry, either way. For example, our landlord sprinklered the entire building based on our request. His cost to do so was north of a full year of our rent.

DonMateo

Nice alternative approach. I have been getting my gear together by pimping my ass in the mountains of Armenia. Anyway everday is one step closer.

LocalGoat

I wish I could Pimp Myself out it would be easier and less stressful.

LocalGoat

Just an Update on our Indiegogo campaign. Its one of the most stressful things I have ever done. We have 12 hours left and have only funded 12% of our goal. Even though we will most likely not reach our over all goal we have gained a HUGE following. From the start of the campaign I had 80 likes and follows on Facebook, now we are at 1080 and counting. We have had 2 people call us about a reality TV show, and one Docu series about small business. We have reached over a million people and are meeting with the Magnolia folks soon for an interview in the magazine. Its been CRAZY. If you decide to start one of these to help your business please hit me up. Do your homework beforehand, get your website, Facebook, and crowd funding campaign to be uniform. If anybody want to check us out follow the link at the top. Thanks guys.

grim

Interesting proposition that crowdfunding might be more useful for building customer base than raising money.

Sunshine

well, I have had some discussions with people who funded and those who have the funding agencies and it all comes down to this: crowdfunding can be much more useful than any other marketing tool there is.

If the package for the customer is right, you have the chance to bind them to your business for years, since they are a part of it.