What is Crowdfunding Anyway?

One of the key enablers for the Alpha Leash’s future success, is crowd funding.  But what is it, how exactly does it work and why is it so important? 

Let’s find out!

What is it?

In a nut shell crowdfunding allows a group, or a crowd :-D, of people to pre-purchase an item that is still in development.  The money from these pre-purchases then goes toward funding the final development work and capital investment needed for the item to be finished and be produced.  Which, after a lot of hard work, results in the item being delivered to the original pre-purchasers, or project backers.

The Details

Firstly, there are 2 major goals that need to be met for every campaign, a funding amount and funding time limit.  Only when both of these goals are met will a campaign be funded and the projects backers be billed for their item purchases.  This rule ensures that a project has the funding and support needed to be successful at producing the items promised.

Secondly, funding campaigns are not restricted by the type of item offered or when items are listed during a campaign.  Items can vary from unique limited editions of an item, like unique colours, and materials, to branded T-shirts and other merchandise. This variety of items allows backers to support a project for various amounts and can also keep a campaign interesting from start to finish.

What’s the big deal?

For the Alpha Leash specifically a significant amount of capital is needed to allow us to begin manufacturing.  Plastic injection molds, tools to assemble the leash, purchasing parts, leasing an assembly facility, etc. all require an initial and significant financial investment.

Also, and just as importantly, a crowdfunding campaign will help promote the Alpha Leash. The 100s of leashes sold during the crowdfunding campaign will be seen in action by 1,000s of potential customers AND the initial sales will demonstrate to retailers that the Alpha Leash is in demand and that they should stock it in their stores. :-D

Final Thoughts

The Alpha Leash’s crowdfunding campaign is one of the biggest milestones yet.  Not only from the financial investment perspective, but more importantly as proof that the invention is something that people want. 

I hope that you have found this article informative and that you explore not only the Alpha Leash but also all the other great inventions and products looking for crowd funding support.