The advent of crowdfunding has been a game changer in the world of small business. Startups of all shapes and sizes can tap into the networks of sites like Kickstarter and Indiegogo to harness the power of the Internet to reach endless potential funding.
Vancouver YPs Michael Flint and Cassidy Morgan are doing just that with their new venture, Buggsly Black Label Rain Jackets. The line of canine apparel is meticulously designed, made from high-tech, recycled fabrics, and locally produced. It will also cost $12,500 for the duo to fire up the production lines. With that in mind, they launched a Kickstarter campaign to raise the funds needed to get their business off the ground.
The idea for the jackets was born out of the frustrations Flint and Morgan had with their own dog, the product’s namesake. Buggsly, a Boston Terrier-Pug cross, was not well suited for any jackets currently on the market. Seeing an opportunity to fill a niche, they created a product that was built with a foundation of function and performance. The three-layer combination of fabrics allows water vapours to pass through, away from the body, while keeping away wind and rain. The construction has been perfected to act as a dog’s second skin, with comfort and agility in mind.
An effective crowdfunding campaign pitches both the end product as well as the business plan. The details outlined on Kickstarter also walk potential investors through the logistics of the jacket’s design, production, and distribution. A thorough assessment of risks and challenges is presented as well.
What’s in it for investors? The key to Kickstarter is that business owners maintain 100% ownership of their projects, making it an excellent platform for creative work. Rather than controlling interest, investors, or “backers,” are compensated through a scale of rewards determined by the owner. In this case, $1 will get you a personalized thank you, and a maximum pledge of $140 will get you two rain jackets once production has begun.
Flint and Morgan’s combined business experience has touched a range of industries from technology to fashion production, a combination well suited for this kind of business venture. Add in a dog-loving city with a soft spot for local business, and it likely won’t be long before you see a stylish puppy sporting a Buggsly Black Label rain jacket in your neighbourhood.
#LYNL | (Live Your Notable Life)