As you have probably already seen, we just recently started an IndieGoGo campaign to help fund a coffee truck. Which we are obviously VERY excited about. But why would a small business ask for contributions to fund their business venture rather than apply for a loan?
Simple answer…we don’t qualify for a loan. We’ve tried, but the banks don’t like to loan money to small businesses, especially if you’re asking for less than $500k. The Pearl Cup has been funded, up to this point, 100% by the owners’ own personal money. To grow our business using crowd-source funding for the addition of a coffee truck is one way that we feel we can involve of our enthusiastic and supportive coffee community. These are the same enthusiasts that ask for our great coffee to be delivered because they can’t make it to our shop. Even some people want a mobile Pearl Cup just for the fun of it! This request for delivery service and mobility happens several times a week! The money that we are asking for will only cover a portion of the costs associated with the coffee truck. The rest will be covered by us.
The platform we chose for this campaign is Indiegogo, which is a crowd-source funding website that allows anyone to raise money for anything! Using crowd-source funding is definitely thinking outside the box, and is a great way to involve our coffee-loving community in a way that allows each contributor to say they’ve had a hand in helping a small business grow. Helping a small business in any possible way allows for more jobs in the marketplace. And that’s a good thing!
Crowd-source funding may not appeal to everyone, but there are many people looking for a way to use their money to help others fund their dream. These are the people we are appealing to and are humbly thankful for their contribution.
We would like to thank, in advance, each and every one of you that takes the time to look at our video and we greatly appreciate your contribution. If you can’t contribute, no worries! Sharing the campaign with your friends is just as important and helps get us closer to realizing this dream.