Questions

I am opening a Drive In theater in my hometown and require $400,000 in total startup capital. I will be seeking debt and equity investors as well as a crowdfunding campaign to secure initial funding as well as generate community interest.

Hi:
Congrats on getting this rolling. Hopefully you’ve already done enough market validation to determine that it’s the right time and place to open a drive-in theater in your hometown.
As for a crowdfunding campaign, as JC mentioned, it will likely be most useful to you as a “community interest” piece — a way to demonstrate likely customer support.
So specifically to your timing request, it should occur before you reach out to potential lenders or equity investors. Then when it’s successful, you can point to a likely business base and some startup capital.
Some key elements to consider:
* a robust contact list is essential before you start — start building your list of names now and really focus on those who will visit the business once it’s open
* be realistic about your fundraising goal here — a percentage of your outreach at $x per commitment
* think through some tiered premiums (4-pack, season pass, free popcorn all summer, etc.) to give people good, varied options to get in
If you wish to discuss, send me a PM through Clarity for 15 free minutes.
Thanks,
Kerby


Answered 5 years ago

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