Today we are giving away £1,000 to two top-notch fashion and design business ideas. Want to win? Check out the competition page to enter.
Winners will need to be raising money on Crowdfunder in February to receive the £1,000 pledge. And hey, even if you don’t win you can still crowdfund to make your great idea happen.
We’re turning our eye to the benefits of crowdfunding for design and fashion today to help you make your mark.
Designed for you
Crowdfunding is disrupting the standard business model by changing how designers and fashion entrepreneurs bring their products to the customer. It has become the ultimate crowd-tester, opening doors for creatives and product designers across the UK.
Crowdfunding has made life easier for changemakers looking to crack open the worlds of fashion and design, becoming the go-to platform to test new designs, raise funds for a product, build audiences and find new customers as well as gain social media traction, PR and marketing kudos.
What the Crowd wants, the Crowd gets
Businesses have to start from somewhere. With banks needing proof of concept and often forecasted sales, too, how do you know a product will be commercially viable without first taking it to the streets in a lengthy product-testing pitch? Savvy businesses are embracing new technology by launching crowdfunding campaigns to test their markets. If you’ve got a product and you want to do your market research, where better to start than with your Crowd?
The ability to pre-sell your product gives you ample opportunity to show future investors, lenders and banks that you’ve got a product people are hungry for. Nick Hounslow (aka ‘The Wave Maker’) gathered a team of people to crowdfund the UK’s first ever inland surfing lake. With just planning permission to his name, Nick and his team went on to pre-sell wave sessions, clothing and membership to the lake, raising over a staggering £219,000 from more than 900 supporters.
Increased product awareness
Crowdfunding is not just about fundraising. By launching a campaign and reaching out to interested networks, crowdfunders gain a loyal supporter base and customers who believe in them as well as their products. Pledgers publicly endorse a brand, raising grassroots awareness of it through their online communities.
Mute Collective raised over £8,000 to get their sustainable fashion brand off the ground on Crowdfunder. With exclusive rewards for supporters to get their hands on fresh new designs, they were able to prove that their idea was on trend and get their products into the hands of customers.
A market of new customers
Businesses can spend years, not to mention money, building a database. In contrast, successful crowdfunding campaigns quickly and inexpensively build a supportive community of customers who actively engage with a product or get behind your vision.
For example, UBREW, a craft brewing company based in the heart of London, wanted to create a place where community members could drink the beer they brew. With the premises secured, the team needed to buy equipment, so they crowdfunded £12k to make it happen. Not only that – they went on to raise another round of funding through Crowdcube, selling shares in the business to further expand their growing market. By running a rewards-based crowdfund, they were able to show that their products were worth investing in.
The world of fashion and design is changing. Crowdfunding reduces the risk for designers in the market today, providing a home for much-needed product testing, validation and fundraising in a tough financial climate. In short, crowdfunding offers a great playground for new ideas.
Tell us yours today and get in with a chance at £1,000 to make it happen.