We are looking into the initiatives available to you to maintain cash flow. We’ll talk about how to keep your activity going, making sure your staff receive the money for missed tronc payments and putting yourselves in strong positions for when the time comes to re-stock.
Several hospitality businesses have launched crowdfunding to support them on websites like Crowdfunder & Gofundme. Not only will a successful campaign gain support from your loyal customers, it will also reach new customers who are looking to support local businesses and those making plans to have things to look forward to at the end of confinement.
The Ship Inn in Canary Wharf launched a few weeks ago fundraising on Crowdfunder hoping to reach £6000 by selling gift vouchers and rewards, and they did achieve their target on May 4th.
Sam’s Riverside restaurant in Hammersmith managed to reach £45,000 so far by selling vouchers and incentives to future and existing customers. They have an ambitious target of £100.000
Campaign for Real Ale have launched an app called Brew2You that will allow (from May 6th) consumers to order drinks from pubs and breweries and help them to stay afloat.
Launching a crowdfunding campaign through Crowdfunder or Gofundme is easy (our recommended platforms).
How much does it cost?
Most platforms will charge a transaction fee that varies depending on the platform. GoFundme applied a transaction fee of 2.9% + £0.25 per donation. CrowdFunder will charge 1.67% of transaction fee on what you raise + £0.25 per donation. For reward crowdfunding, the platform will apply 3% fee + the transaction fee.