Hey, he's trying to cash in on his fame, just like the Kardashian girls. Don't knock it, it's the American way.
-
Hi Guest, want to participate in the discussions, keep track of read/unread posts and more? Create your free account and increase the benefits of your eGriz.com experience today!
Former Griz coach Mike Gerber fundraising for a gym
- Thread starter BWahlberg
- Start date
UMGriz75
Well-known member
After Dodd-Frank, it is almost impossible to get a bank loan for a "start up." Can't be done, unless you've got a "paid for" house or some other form of collateral.Big G said:
One of my clients was involved in an effort to acquire a large historical building, a $7 million effort after the remodeling was done. One well-known real estate adviser we had lunch with noted that it would have been cheaper to demolish the whole structure, and rebuild it from scratch to look identical to the old structure, indeed, at one-third the cost. Sooo, "we" were skeptical but our client proposed the "crowd-funding" approach, and especially for historical, environmental, or other "good" projects, showed how successful it "can" be.
I was surprised at the successful projects undertaken by that approach.
Fortunately, someone else came in with a higher offer, and so we did not pursue that option. Yes, "fortunately."
The public funding stuff isn't so much looking for investors. Its looking for donations. You "get" a perk sometimes/usually. In this case I could see it going something like you pay x amount which "gets" you the perk of having a membership for a year. Its the price of a yearly membership, but he gets starting capital and he can go to a bank and say "I already have this many members to my gym" so he doesn't have to make projections as to how many he thinks he will get. I haven't looked at this one, so I'm guessing here as to what it could be.
There is a company in Carbon County that has a fundraising campaign going. You "get" a pair of pants that they are manufacturing...for a donation what the price of the pants probably retail at. Basically they are taking pre-orders and if they don't get enough pre-orders they don't place the order. They get to get them manufactured without going to the bank for a loan.
Bomb Snow in Bozeman did one two. I "got" their anniversary magazine. They got to have the money up front to go to the printer.
People don't get deals. I have seen people set up fundraising efforts for sick people.
There is a company in Carbon County that has a fundraising campaign going. You "get" a pair of pants that they are manufacturing...for a donation what the price of the pants probably retail at. Basically they are taking pre-orders and if they don't get enough pre-orders they don't place the order. They get to get them manufactured without going to the bank for a loan.
Bomb Snow in Bozeman did one two. I "got" their anniversary magazine. They got to have the money up front to go to the printer.
People don't get deals. I have seen people set up fundraising efforts for sick people.
Allezchat said:
Pre-selling membership interests can create securities law issues, depending on how structured. The issue is whether the membership interests looks and acts more like a security, than a true club membership. This implicates athletic club membership interests, as well as country club or condo association club memberships. Allowing the membership interests to be transferable generally creates a securities law issue. Putting the membership funds in escrow and not using them until the business is ready to be used helps avoid securities issues. State securities departments sometimes look at membership interest structure. The federal securities regulators have stayed out of the area. I assume the securities laws are often violated in this area.
Generally, a donation or crowd-funding donation is not a security, because the donor does not get any equity or ownership interest in return.
MissoulaMarinerFan
Well-known member
Allezchat said:
Boom. Nailed it.
ALPHAGRIZ1
Well-known member
UMAlum said:
Its the "entitlement mindset" and lack of work ethic and vision.......that pisses me off.
You are right though nobody is forcing anyone to donate so its not really welfare........it just feels like it.
statler & waldorf
Well-known member
You get an idea for a business, you fund it. You could get a partner or two, or three. Plenty of business models out there. Still not enough money? Sell stock: Gerber, Inc. Of course, we all have Missoula roots, in one shape or form. Sit on the sidewalk and put your hand out and someone will put money in it. I think he just hasn't sold his idea in the right way. Perception.
Good for Gerber. Pursuing the american dream; business ownership. :clap:
It's kind of what we do here...BWahlberg said:
rimrockgriz
Well-known member
Thanks for my big laugh I was looking for this a.m. :clap: ... :egriz:Ursus1 said:
In Whitefish, a new Shopko dept store booted the Bonsai Brewing project and several other business' from the Whitefish Mountain Mall. But Bonsai was ready for expansion. And thanks to a kickstarter campaign the owners could afford it after only a year in business. Now Bonsai operates out of a bigger space, on Wisconsin Ave, right on the way to Whitefish Moutnain resort.
The new location opened it's doors 1 month ago. Owner Graham Hart upgraded his business after only a year. He said it would have been impossible if his mother hadn't convinced him to turn to crowd funding websites. Sites like kickstarter, where people browse through people's ideas and business plans, and sometimes fundraisers that need extra cash to pull through. Hart says that by the time Bonsai opened for business in 2014, he had raised almost $18,000 from about 70 different backers. He had counted on only $15,000. "You do what you say you are going to do and people are happy to help out", said Hart.
Hart offered backers rewards through his kickstarter campaign. When they donated money, he promised them t-shirts and hoodies. Or access to a special pub club that offers discounts.
We are told Bonsai has seen success in it's new location. And that it all began with internet crowd funding. "It gave us the boost we needed to be successful, quickly.
Officials say crowd-funding sites are a great option for entrepreneurs who need a financial boost to put their ideas into action. Chris Parson, with the Kalispell Chamber of Commerce said, "A few have become more and more that have taken advantage of it here in the local area, and I think just gives an opportunity for someone who is starting out."
A perfect opportunity for Bonsai, a micro-brewery that credits the kindness of strangers to it's success. Reporting in Whitefish, Mattie Cohen, NBC Montana.
====================================================================================
A Whitefish resident, Robert Nox, raised over $60,000 on kickstarter to develop a portable coffee mug that he wrapped in cork. It's called, "Cortica".
Picture:
https://www.facebook.com/corkcoffeemug/photos/pb.230254820516967.-2207520000.1428010984./230255530516896/?type=1&theater" onclick="window.open(this.href);return false;
====================================================================================
Crowd-funding is a win-win for everybody involved in eyes. The person raising the money obviously wins with bringing his product or service to market. And the person that donates wins by getting something in return for their donation (usually). Plus the feel good feeling of helping out.
The new location opened it's doors 1 month ago. Owner Graham Hart upgraded his business after only a year. He said it would have been impossible if his mother hadn't convinced him to turn to crowd funding websites. Sites like kickstarter, where people browse through people's ideas and business plans, and sometimes fundraisers that need extra cash to pull through. Hart says that by the time Bonsai opened for business in 2014, he had raised almost $18,000 from about 70 different backers. He had counted on only $15,000. "You do what you say you are going to do and people are happy to help out", said Hart.
Hart offered backers rewards through his kickstarter campaign. When they donated money, he promised them t-shirts and hoodies. Or access to a special pub club that offers discounts.
We are told Bonsai has seen success in it's new location. And that it all began with internet crowd funding. "It gave us the boost we needed to be successful, quickly.
Officials say crowd-funding sites are a great option for entrepreneurs who need a financial boost to put their ideas into action. Chris Parson, with the Kalispell Chamber of Commerce said, "A few have become more and more that have taken advantage of it here in the local area, and I think just gives an opportunity for someone who is starting out."
A perfect opportunity for Bonsai, a micro-brewery that credits the kindness of strangers to it's success. Reporting in Whitefish, Mattie Cohen, NBC Montana.
====================================================================================
A Whitefish resident, Robert Nox, raised over $60,000 on kickstarter to develop a portable coffee mug that he wrapped in cork. It's called, "Cortica".
Picture:
https://www.facebook.com/corkcoffeemug/photos/pb.230254820516967.-2207520000.1428010984./230255530516896/?type=1&theater" onclick="window.open(this.href);return false;
====================================================================================
Crowd-funding is a win-win for everybody involved in eyes. The person raising the money obviously wins with bringing his product or service to market. And the person that donates wins by getting something in return for their donation (usually). Plus the feel good feeling of helping out.
