3 Things You Need to Know About Crowdfunding for a Food Business

For F&B entrepreneurs, crowdfunding present a number of advantages due to the unprecedented interest and participation in food culture, both online and on the streets. Below are 3 simple things that we believe F&B entrepreneurs need to know about crowdfunding before they run or consider running one crowdfunding campaign.

 

  1. It’s more than FUNDRAISING, It’s also about MARKETING.

Crowdfunding is the BEST marketing tool! Where else can you promote yourself, get your story out there, get your product into people’s hands, get their feedback on the product, build brand ambassadors, and raise money at the same time?
For an F&B brands, crowdfunding campaign doesn’t only give you an opportunity to raise funding, it also give you a medium to engage with your community or potential expand your pool of community to include wider range of people. A well crafted crowdfunding campaign can potentially bring you more amount in media visibility than the amount raised, thus bringing more than monetary impact to the business.

 

  1. Your funders can be your influencers

Even in the age of social media, real human touch still matters when it comes to growing your food business. That doesn’t mean that as entrepreneurs, you need to knock door to door. Instead, it means that you should use a combination of social media and real human connections to get your products out to the world.

This is especially true for F&B products and businesses and that is what we called influencer marketing. Increasingly, consumers are turning into their peers for recommendation to make informed decision. They check out images, blogs, Instagram stories and videos on where their peers visited.

So as where can you find your influencers? The answer is your INVESTORS.

Imagine having your “crowd” investors to share and talk about the business that they co-own? Imagine having your group of investors to share about their experiences in the restaurant outlets? With this, they are no longer just your investors, we called them Influence Investors.

 

  1. Choose the right crowdfunding platform.

Food projects tend to get lost in the shuffle on larger crowdfunding sites. For example, 75% of food project in Kickstarter failed to reach their funding target.

While there is a growing appetite from investors toward crowdfunding, many of those funding tend to go into the area of tech. Increasingly, we begin to see a substantial funding gap in bridging F&B related projects to enthusiastic investors in the F&B industry.

Hence, we believe that a right crowdfunding platform that put its focus solely in helping food business will be able to provide a higher visibility in both the industry and the broader food community, subsequently help to increase the success rate of its campaign. This is where OC Plus seeks to help by creating a dedicated platform for the F&B community.

Through this, OC Plus wants to provide a place for foodpreneur and enthusiastic F&B investors to connect, to ensure that great F&B businesses get the chance to flourish and grow in this ever competitive industry.

For Foodpreneur, if you would like to understand more about crowdfunding on how it benefit and accelerate your business, do get in touch with us at website, fb page, instagram.