I am opening a Drive In theater in my hometown and require $400,000 in total startup capital. I will be seeking debt and equity investors as well as a crowdfunding campaign to secure initial funding as well as generate community interest.

From my experience, crowdfunding is hardly/if-ever effective as an actual fundraising tool for the vast majority of entrepreneurs (particularly if there are actual goods being manufactured and delivered.) But what it can be used for effectively is a tool to gauge and show interest in your business product/service. So if you can get people to participate at a certain level you can take those "pre-sales" to your potential investors and show some level of possible market validation or interest. so I'd leverage crowdfunding more for that "community interest" piece, rather than actual funds being raised.

Answered 3 years ago

Unlock Startups Unlimited

Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.

Already a member? Sign in

Copyright © 2022 LLC. All rights reserved.