Impressions - Sports Fan Retailer - December 2015 - 27

Crowdfunding
Focus
Though the number of crowdfunding websites are growing with
each passing year, three of the
most popular are Kickstarter.com,
IndieGogo.com and GoFundMe.com.
Here's more information about
what makes them tick: (Editor's
Note: All information was current as
of press time.)
GoBQ, made of flexible, fireproof fabric, raised
more than 300% of its initial IndieGoGo
monetary goal.

conveniently carry dry goods on a cooler
without having to worry about balancing
them on top or placing them inside - a
problem experienced by many tailgaters
and outdoor enthusiasts.
"We do a lot of camping and going out
to the lake and I'm always carrying the
cooler and extra bags on top of it or going back to the car and grabbing all the
dry goods," Kendrick says. "I got sick of it
and my wife said, 'Why don't you create
something to eliminate that problem?'
So I thought, 'I'll create a bag that goes
around the cooler like a belt.'"
Instagate is everything a first-time
tailgater needs, packaged in a box - a
cost-effective alternative to purchasing
a cooler and expensive grill.
"Instagate started out when I wanted to go tailgating before a [New York]
Giants game with a few friends but didn't
have a grill, cooler, etc.," MacLean says.
"I thought about how great a turnkey
tailgating solution for fans like myself
could be - one that reduced the effort
required to prep and clean up, but didn't
break the bank."
Successful product ideas that are attractive to crowdfunding backers don't
always originate as solutions to problems. They also can be fun ideas that
hit the jackpot.
"The Beer Tie was created by me and
my wife here in the mountains of North
Carolina while we were camping," says inventor Reuben Hollifield. "We envisioned
SportsFan Retailer

it as a fun outdoors product that you can
use during parties, potlucks, tailgates,
concerts, kayaking - pretty much anything that you need [to have your] hands
free while drinking a beer. We kind of invented it as a funny thing, but after time
we realized that it was super functional.
It sells for both reasons."
DON'T FAIL TO PREPARE
Launching a crowdfunding project takes
much more time and effort than simply
thinking of a product. Thorough effort
must be directed at creating functional
prototypes and videos of the product's
effectiveness, as well as planning each additional detail of the ensuing campaign.
Most importantly, a realistic financial
goal must be set.
"If you fail to prepare, you prepare to
fail," MacLean says. "The months leading up to the crowdfunding launch are
crucial. Do your research, check out successful projects and plan the timing of
your launch carefully."
The Cooler Belt was funded at $10,570,
but Kendrick, whose background includes self-marketing, says its success
was due to diligence in that arena before his crowdfunding campaign was
launched online.
"A month or two months before I put
[the Cooler Belt] on Kickstarter, I was
telling people about it and I talked specifically with friends, friends of friends
and businesses," he says. "And I basically

Year Launched: 2009
Successfully Funded Projects:
95,991
Numbers of Backers: 9.9 million
Total Dollars Pledged: $2.1 billion
Project Categories: Art, Comics,
Crafts, Dance, Design, Fashion,
Film/Video, Games, Technology
and more

Year Launched: 2008
Monthly Site Visitors: 15 million
Campaigns Launched: More than
275,000
Active Campaigns: More than
7,000
Project Categories: Animals, Art,
Comics, Community, Food,
Gaming, Health, Music,
Photography and more

Year Launched: 2010
Amount Raised in Past Year:
$1 billion
Amount Raised Per Day:
$4 million
Project Categories: Medical,
Education, Volunteerism,
Sports/Teams and more

December 2015 27
http://www.Kickstarter.com http://www.IndieGogo.com http://www.GoFundMe.com
Impressions - Sports Fan Retailer - December 2015

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