High Alpha Innovation reposted this
🛑 ✋🏼 It's Fieldbook Studio Sprint Week and I NEED YOUR RESPONSE - yes, you reading this. Would You Use #Crowdfunding to Bring a #Franchise or Brand to Your #Community? Please comment below. Background: We’ve been exploring the idea of using crowdfunding to help individuals bring popular emerging franchise brands to their communities. Traditional financing options like bank loans or personal savings can be barriers for some aspiring franchisees, especially with new location costs often exceeding $750k 🤑 . I’m curious to know: 1️⃣ Would you or someone you know consider using crowdfunding to raise money to bring a franchise or brand to your area? Why or why not? 2️⃣ What would make crowdfunding for this purpose appealing to you as a contributor/investor? For example: A stake in profits? Community recognition? Local economic impact? 3️⃣ Are there any specific brands or franchises you wish were in your area that you’d support via crowdfunding? 4️⃣ If you’re already a franchise investor or operator, would this model have helped you get started? Or would it complement your current approach? Lastly, if you’ve seen similar models succeed (like Franshares or Wefunder campaigns), I’d love to hear your thoughts or experiences with them. Looking forward to hearing your insights and ideas!
I'd buy an existing business! Not that interested in franchises personally. For funding, I'd start with tapping into my circle before going public with a crowdfund on a website. If I found a business opportunity that made sense to have more stakeholders, then I'd consider crowdfunding. Open to learning more.
William McGuire knows a thing or two about this topic.