Chefs in a kitchen smiling

How to raise funds and commit clients to your business

06/05/2020

How to raise funds and commit clients to your business.

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.

➡️ Crowdfunding projects 🙌

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

There are at the moment more than 24 projects on Crowdfunder and Gofundme and to support the hospitality industry

➡️ CAMRA

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.

Register your business

➡️ How to launch a great crowdfunding campaign 🗣

Launching a crowdfunding campaign through Crowdfunder or Gofundme is easy (our recommended platforms).

  • Explain your project and your goal: keeping your business afloat and making sure your staff keep their jobs.
  • Talk and share photos of your history, your team and your customers
  • Share across your social channels and ask your team to do the same
  • If you have emails of customers, send it to them too

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.

📍 We advise you to carefully read the terms of use of the platform you will choose for your crowdfunding campaign and make sure you understand the fees applied by the platform.