04 Apr Sites like Go Fund Me for Businesses & Entrepreneurs
Every new entrepreneur needs money to turn their ideas into a functional and sustainable business model. And crowdfunding makes it easy. It allows people across the globe to support your business and get you the startup capital you need. Though Go Fund Me leads the pack in crowdfunding platforms, it’s not always the best option for growing brands. Luckily, there are several sites like Go Fund Me you can use.
If your business promises to create physical products, Kickstarter is a great option. The platform charges a flat 5 percent hosting fee and a 3 percent + $0.20 per contribution. But the platform lets you reward people who contribute with products, discounts, and even just your thanks. You set your goal, people contribute, and if you hit the goal, you get the money. If not, contributors are refunded their contributions. It’s the most equitable among sites like Go Fund Me.
If your business involves constantly producing new content, Patreon is a great option. Campaigns last as long as you want them to and you get the money as it comes in. You will be subject to a 5 percent platform fee and a 5 percent payment processing fee for contributions. But for some, the flexibility of the platform makes it worthwhile.
If you’re looking for a way to raise money for your business without having to pay a platform fee or per-contribution fee, Fundable is a great option. This platform charges all businesses a monthly fee of $179. Like Kickstarter, it’s an all-or-nothing platform, so use it with caution. If your campaign fails, you’ll still have to pay the $179 monthly fee.
What About Go Fund Me?
At this point, you’re probably wondering “how much does Go Fund Me take out of my contributions?” The platform charges about 2.9 percent from your donations and typically a 5 percent campaign fee. It’s a great option for some businesses, but many others prefer to use other sites like Fundable.
Contact Us for More Information
If you’re looking to grow your business either with sites like Go Fund Me or are asking “how much does Go Fund Me take out from my campaign,” you’ll still need a good marketing strategy to make the most of the process. Contact us for a free quote today.