Why Kickstarter?
The question has been poised a number of times: why Kickstarter? Before I answer that wanted to give a quick background on what Kickstarter is.
What is Kickstarter?
Kickstarter is a website where start up companies can post their products for people to pre-order. If you pre-order a watch from Goodspeed, you only pay when the Kickstarter goal amount is met. The goal amount is set by the creator and is the amount of money they need to get the project or product funded. If the funding goal is never met, you pay nothing. Campaigns last a finite number of days, usually 30.
Why Kickstarter?
Prior to Kickstarter, companies had to gauge how many items to order from their vendor and in what color. After Kickstarter, we can offer up four colors of our watches and maybe 300 people order the black one and no one orders the silver one. This reduces the amount of money we needed to outlay, which in the end is a reduction of cost that gets passed back to the consumer.
It's a great way to launch a new brand with less capital which is why you've seen more and more microbrand watch companies using it to offer new and exciting watches.
What is Kickstarter?
Kickstarter is a website where start up companies can post their products for people to pre-order. If you pre-order a watch from Goodspeed, you only pay when the Kickstarter goal amount is met. The goal amount is set by the creator and is the amount of money they need to get the project or product funded. If the funding goal is never met, you pay nothing. Campaigns last a finite number of days, usually 30.
Why Kickstarter?
Prior to Kickstarter, companies had to gauge how many items to order from their vendor and in what color. After Kickstarter, we can offer up four colors of our watches and maybe 300 people order the black one and no one orders the silver one. This reduces the amount of money we needed to outlay, which in the end is a reduction of cost that gets passed back to the consumer.
It's a great way to launch a new brand with less capital which is why you've seen more and more microbrand watch companies using it to offer new and exciting watches.