Can Kickfurther Help You Grow Your Business?
Kickfurther has an innovative solution to your inventory financing needs. Instead of relying on banks to finance your inventory, Kickfurther connects you directly to consumers who finance your inventory. We will explain what Kickfurther is, how their process works, and which businesses could benefit from using Kickfurther.
What is Kickfurther?
In essence, Kickfurther is a type of crowdfunding platform. You list your business on the platform and receive funding from people who are on Kickfurther. The difference between Kickfurther and other crowdfunding platforms is the purpose.
Kickfurther's purpose is to help businesses finance their inventory needs. As companies grow, they can get stuck in a position where they have a demand for their products, but do not have the capital to purchase more inventory. For new businesses, qualifying for loans or lines of credit can be challenging. Kickfurther created a way for businesses to raise funds from their customers.
How Does the Kickfurther Process Work?
Businesses begin by creating an account on Kickfurther, like on any other crowdfunding platform. Businesses then promote their Kickfurther campaign on their social media accounts, to their customers, and interested parties.
Buyers create profiles on Kickfurther as well. Buyers that are interested in your product can do two things. First, they can purchase part of your inventory for you. Secondly, they can sell your product on their Kickfurther store. This gives your company more exposure and it can help sell your product even faster.
Once your product begins selling, either through your business or through your supporters on Kickfurther, you pay your supporters back plus some extra for their support. With Kickfurther, you choose your terms, and buyers financially support you, on the terms you set. Over 90% of campaigns get funded this way.
Is Kickfurther Right For Your Business?
Unlike other crowdfunding platforms, Kickfurther is not geared toward raising seed capital. Businesses must have at least $150,000 in annual sales to qualify. Kickfurther will ask for some financial information and will pull your business credit report to ensure you are in good standing.
Kickfurther is not intended to be used as a typical loan or line of credit. The funds raised are exclusively used to purchase more inventory for your business, so you and your supporters can sell more of your product.
Some businesses may prefer to seek funding through their bank or other financial institutions, but some want capital right away. Businesses have raised tens of thousands of dollars in a single day and hundreds of thousands of dollars in a week with Kickfurther.
If your business is growing, but you need more capital to progress to the next level, Kickfurther may be practical for your business. You don't pay anything until your product sells, and you get to choose your re-payment terms. Plus, as others sell your product, your business will get more exposure and potentially earn more customers.
Conclusion: Kickstarter Is A Viable Option For Some Businesses
Not every business will benefit from Kickfurther. If your business is new or doesn't generate $150,000 in sales, other options will be better for you. Boasting an innovative approach to inventory financing, Kickfurther is an alternative to help you expand your business. To find out more, follow our specific link to Kickfurther.
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