Ceramic artist, Joseph Sands ran out of money building his studio and retail outlet before he built his kiln, he came up with a novel way of raising the money without incurring debt. He pre-sold certificates that were redeemable for finished products at the sales events of his studio. He raised all the money he needed quickly and built up a considerable client base. It is a clever way to raise funds that can be applied to many practices with a little creative thought.
Joseph Sand: We offered certificates in increments of $50 to purchase bricks for the new kiln. This money helped us buy the supplies needed to build the kiln, and the return for the investor was that these certificates could be redeemed for their full value at the first kiln opening sale, or at any future kiln sale.
Investors were also given an invitation to a special pre-sale of pots from the first kiln opening, giving them the opportunity to view and to purchase pots before the general public. We figured that it would be a win-win situation for all involved.
The campaign lasted approximately six months and ended about two months before the first sale so that we could make sure that all investors received their certificates.
Once the investors sent us money, we printed an official certificate and mailed it to them. We kept everyone informed of our progress through email, on Facebook, and on the website. About three weeks before the first kiln opening, we mailed out a special invitation for the sale.