Kickstarter/Crowdfunding questions.

[londonfilmmaker]

I know there's a separate Crowdfunding thread on the front page but that seems to be concentrating on previous experiences and successful fundraising rather than specific concerns.

I am planning a project which is a short horror/thriller film (35 minutes+). Budget wise, it isn't too constraining: a single location, three main actors (a handful of extras) and no other visual/specific makeup requirements. I plan on working during the actual filming phase with a crew of only 3 or 4 (it doesn't require more manpower).

I don't have a lot of 'clout' to offer investors in terms of my background. I have an education in film studies, I have worked on a few minor productions in various roles.

I have access to certain kit, however I am seriously considering renting certain bits of gear (which is ofcourse cheaper than buying it outright). This will still cost several thousands.

What I would like to know is:

1. Does Kickstarter allow crowdfunding projects that are seeking funds to rent equipment?


2. What happens if a project stalls or is dropped completely re the investments that have been made?


3. I see that most projects on Kickstarter offer DVDs, private screenings, merchandise and other things as rewards. Is this completely cost effective in relation to budgets/investments?

Duplicating several Blurays could become quite costly including postage, packing etc!

4. Are 'crowdfunders' a typically patient bunch? Considering this is to fund a project that is in pre-production, it could be a year or two to get to a point where you have a complete product!

 

[directorik]

1. Does Kickstarter allow crowdfunding projects that are seeking funds to rent equipment?

Yes. You can use the funds in any way you see fit.

2. What happens if a project stalls or is dropped completely re the investments that have been made?

http://www.kickstarter.com/help/faq/kickstarter basics#AlloFund

3. I see that most projects on Kickstarter offer DVDs, private screenings, merchandise and other things as rewards. Is this completely cost effective in relation to budgets/investments?

Not really. Getting a £10 donation and then spending £3 to
£5 on DVD's, packing, shipping isn't very cost effective.

4. Are 'crowdfunders' a typically patient bunch? Considering this is to fund a project that is in pre-production, it could be a year or two to get to a point where you have a complete product!

In general the people who actually donate will be known to
you. But those who are not known to you will want updates.
I mean, YOU would, right? If you donated £10 and then didn't
hear anything for two years how would YOU feel? I think the
key is to put yourself in the place of someone donating money.
If you have ever donated money then you already know. If
you haven't then you can understand why people don't.

Have you ever donated through Kickstarter to someone you
don't know?

 

[PaulGriffith]

1. Like Rik said, use it however. I think you're most likely to succeed by renting gear. I've seen projects wanting $100k because $80k was going to buying an EPIC and accessories for their 5 day shoot. There's no way I'm giving to that, because for $77000 less they could rent the package and start shooting.

2. You're British. Can't start a kickstarter without an American bank account I'm pretty sure. Check out indiegogo.com. You can run two types of campaigns there. Flexible funding is where you keep whatever is raised even if you don't hit the goal, the other is like kickstarter where you don't get a dime unless you get all of it. That makes many people feel better about giving. If I give you $20 expecting a DVD and you only end up raising $100 when you needed $25,000, then I'm never going to get my DVD.

3. Perks need to be smart. If you're shipping them something like a DVD, the perk needs to be about what a retail DVD would cost. Yes, spending 20% of the money they gave (say $4 out of $20) to print and ship a DVD costs money, but if they don't get a perk they might not give. What's better then, $0 or $16. It's just a cost of doing business you learn to work with. Alternatively, think of perks that everyone would want but are crazy cheap or free. If it can be emailed instead of mailed, even better!

4. Be upfront and say "this won't be ready until January 2014" or whatever. Set a realistic goal and keep updates to every 3 weeks or so so people don't forget about you.

Good luck man!