Foodstart - How it works

 

FOR BACKERS

If you're reading this page you probably got an email or Facebook post from a friend saying that a new restuarant or brewery was opening up nearby.  Like every business, these guys need money to get started or expand.  And they see lots of benefits for getting it from friends and friends of friends than the office of a mega-bank.

Here's what to do next:

1) Review the business plan.  Does it make sense?  Do you think they have a shot at it?  If so...

2) Look at the perks they're offering and decide how much you want to put in.  It might be $10 for a long-term discount on desserts or $250 to have a menu item named after you.

3) Submit your pledge (not an actual payment since the business only gets the cash if they're funding goal is reached) using your Amazon username and password.  Yes, the same one you use to buy garden gnomes and UFO Dectectors and whatever else they sell on Amazon now.

4) Tell your friends about the cool business your backing.

5) Assuming you've told enough people about it and they reach their funding goal, you'll get an email in your inbox and a Ownership Card in the mail.  Whenever you go to the business, just present your card and redeem whatever great perks you've earned for being an early backer in the business. Cool huh?

Find a Project

 

FOR BUSINESSES

For business owners the process is really straightforward.  But you’ll need a few things to get started, including a bank account, a working phone, and a business that’s in the food-and-beverage industry. Assuming you got those covered, you simply need to

1) Upload your pitch
You might need capital to buy equipment. Or to expand to another location.  Whatever the purpose, the first step is to post the plan for your project.

2) Pick the Perks
People who are backing you need to get something in return. It might be a cash discount.  It might be a free dessert or the next available table during busy times.  Whatever combination of perks you have available, we have market research to help guide you.

3) Tell folks to check it out
Build buzz by telling people about your new project – we have the tools to help with this too.  Hopefully, they’ll tell people who will tell people who…well, you get the idea.

4) Execute
Assuming your funding goal has been met, cash will be deposited directly to your business’s bank account (less a credit card fee and 4% processing commission.)   And now, unlike your competition, you have hundreds of local people who now have an incentive to see you succeed!

Start a Project