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July 17, 2013

What is Kickstarter & why are we using it?

Lots of people are already aware of kickstarter and the idea of crowd funded projects. However, it’s seems that way more people, particularly those in the UK, have never heard of this increasingly popular idea for funding your project or buying new and exciting things.

To explain Kickstarter from the sellers point of view I will use my own project as an example.
Oxblood & Co. is a fledgling business, we have very little money to put into placing bulk orders on t-shirts and a bank loan is just too risky. A successful Kickstarter project will allow us to gain a startup fund through ‘Backers’ (customers) pledging to buy our t-shirts prior to us making them. Once the project had reached its finish time, if we have met our target all the backers pay and the money is sent to us, we make the t-shirts and send them out to those who order them. If the project does not reach its funding target then no body pays and in-turn our project is not happening at this time – which would be a real shame.
Kickstarter describes this as ‘all-or-nothing’ funding, it sounds harsh but it is good for both sellers and backers in several ways; for us as sellers, in addition to gaining the necessary start-up funds we also have an opportunity to gather interest about the brand and t-shirts as well as gauging the interest in what we are doing. For backers its a chance to buy some cool t-shirts that are not available anywhere else plus help out a start-up brand, which is bound to give you a warm feeling of gratification in knowing you that you were there to help kick things off… and we would certainly know that we could not have done it without you!

Backing Kickstarter projects in a nutshell

[unordered_list style=”bullet”]
  • You are told about a project or you have found one on the Kickstarter site/app… of course it’s Oxblood & Co.
  • You like what you see and ‘Pledge’ – You are now a Backer! this might be a digital wallpaper or maybe even all 3 of our tees!
  • You spread the word, telling your all friends about the awesome t-shirt project you have just backed
  • Now…. you wait………… the projects ends.
  • THE TARGET IS MET! [unordered_list style=”bullet”]
    • Money is now taken from all Backers and handed over to Oxblood
    • If you ordered t-shirts, we will find out what design(s) and size(s) you would like.
    • A bulk order of t-shirts is placed with our screen printers
    • When ready your orders will be shipped – Happy days!
    • With the remaining t-shirts we will launch our web store
    [/unordered_list]
[unordered_list style=”bullet”]
  • The target is NOT met [unordered_list style=”bullet”]
    • No backers are charged
    • We receive no funding from kickstarter
    • We try again or look for alternatives
    [/unordered_list]

 

 
See the Oxblood & Co. project on kickstarter here

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