One of the main goals of this blog is to discuss the different aspects of the digitization process that is affecting virtually all the pillars of the restaurant industry, That is why I would like to introduce a new trend that is emerging in the US and again driven by new technologies get something that a few years ago it was very difficult or impossible.
As we all know, seeking financial resources in a restaurant is always one of the most complicated processes and can be well focused on financial institutions, as well, it is now possible to have alternatives thanks to the internet and crowdfunding, maybe not to open a restaurant, but to finance an expansion, reform, purchasing machinery, etc.
speaking of crowdfunding It is nothing new, but talk about a crowdfunding platform specializing in restaurants yes it is, So I would like to introduce this project, is called Foodstart and it has been founded by Alex Sheshunoff, a company specialized in the sector web that helps achieve the necessary economic resources through collective microfinance to invest in the improvement of your restaurant.
The operation is very simple, Foodstart through the restaurant presents a business plan to finance a specific figure and are family, friends and even clients who can make through your account Amazon an input can be from 10$ a 1.000$ and in return it received a card that allows you to access a number of benefits as you can see in the picture below are varied, Special discounts for life, free meals or desserts, Tshirts, cooking workshops, caterings and even things as original as you put your name to a letter dish.
There is a detail that is very interesting and gives some credit to the whole process and that the “backers” or sponsors not initially made a cash payment, is a commitment to pay, that is to say, the restaurant only gets the money, and therefore paid by sponsors, if it collects its total financial goal.
It's an interesting idea and an alternative future to finance projects for the restaurant industry, without forgetting that not only it helps you to increase capital, also involves a process of customer acquisition and retention and even a market test on your project or idea.
To end, a real example of a restaurate, Green Sees Vegan which it was initially the typical American food truck that moved through the streets of Houston and thanks to crowdfunding and collaboration of the sponsors managed to raise 13.313$ to open his own restaurant and yes, with a handful of loyal customers from the beginning.
What do you think of crowdfunding for restaurants, You think it can be a future alternative to traditional financing?