Every Monday, Breaking Even profiles a business, individual, non-profit or website doing something cool online. To nominate, contact Nicole.
Barkwheats is a dog biscuit company I’ve profiled before. Their latest initiative is really cool and it makes small businesses act a bit like non-profits. Barkwheats is fundraising using a website called Kickstarter for a new piece of equipment they need for their business. Here’s an interview I did with Chris about how and why Barkwheats set this up:
What made you decide to do such an ambitious fundraising campaign now?
We wanted to engage people outside of our business to be a part of something much bigger than what they alone could do. We also need to raise the money for this piece of equipment in order to grow our business and offer Barkwheats to more pet guardians around the country, and support more growers who produce a great product for us. I know both of you have non-profit experience in addition to this business you run.
Do you find people have a hard time ‘donating’ to a business versus a non-profit? I know both you and Renee are actively involved in several area non-profits.
Kickstarter is cool in the way that it’s not so much just “donating” but it’s more transactional in nature. You are kind of “buying” a product. For example, spend $25 and get some cute Folk Dog magnets that would cost the same as if you were to purchase them at a store. Spend $7500 and your dog gets to be the cover dog on our next flavor of treats! A very neat way to not only support what we’re doing, but make your dog famous.
Why did you use the Kickstarter website (versus raising all the money on your own site)? Are you nervous that you only get to keep the funds if you raise the goal of $25,000 or more?
Kickstarter has spent the time in creating a platform that people can feel comfortable with, and that a community of people already visit. We always figure if there are things that we don’t have to reinvent, then we won’t.
Am I nervous? Absolutely. The money for this moulder will go a long way in helping Barkwheats grow and with it being an all-or-nothing style campaign, we need to reach our goal in order to receive the money from our supporters.
What group has been most supportive (either financially or vocally or both)? Is it more your ‘real life’ family and friends or Twitter, Facebook, newsletter subscribers, etc. (Is what you were expecting in terms of who was going to be supportive?)
Our Facebook/Twitter fans have been extremely supportive of what we’re doing. Many are customers, and realize the value that Barkwheats has in their lives, and their dog’s lives. It most definitely was who I was expecting to be supportive. We love all of them and they love us. it’s really nice to have that kind of support system in business.
What would you say to those businesses a little hesitant about social giving (or whatever you’d call websites like Kickstarter)?
You can call it crowd funding. I would say that it’s not for everyone. it’s project oriented, so there has be a specific goal in mind for the usage of the funds, and that goal has to be something that people care about. Your business has to have a social value, too, or else it’s really difficult for people to get on board. We try hard to keep everyone in mind with our decisions (the growers, the store owners, the pet guardians, etc) and when we succeed, then everyone else in our value chain succeeds. So to those that might be hesitant about starting this type of fund raising campaign, you need to ask yourself those kinds of questions. Do you have a core value in your business to benefit those around you and an your value chain? Is this project something that others would feel compelled to participate in? And make sure you’ve got great rewards for folks participating. I think ours are tops!
To support Barkwheats in its fundraising efforts or learn more:http://www.kickstarter.com/projects/barkwheats/barkwheats-dog-biscuits-is-growing