We have gathered the most frequently asked questions, so you can find all the answers that you need.
Crowdfunding is a collective cooperation of people who network and pool their money and resources together, usually via the inter¬net, to support efforts initiated by other organizations. Crowdfunding is a proven successful alternative in acquiring or investing money. It allows anyone to source funds from the biggest global funding resource. The funding resource being all the people of the world. Crowdfunding helps generate buzz, gather a loyal customer base and ardent supporters even before the launch of a business.
Crowdfunding is poised to become the next big investment trend. We have outlined the top five reasons why.
If you want to learn more about crowdfunding, we would like to invite you to read our blog post Top 10 crowdfunding tips.
If you are small to medium sized business owner or thinking to start a business crowdfunding is for you.
Crowdfunding helps to diversify your risk. Since each of your funders only donate a small amount for a reward, there is less financial burden on just a few individuals.
Furthermore, it eliminates tedious bureaucratic processes, lawyers, crazy fees, banks, venture capitalists and professional investors, to create a funding model that is convenient and reasonable.
In addition, crowdfunding allows your business to attract, include and engage future customers even before your business starts operation.
Crowdfunding is 100 % safe. There are no small hidden print in crowdfunding or legal bottlenecks.
People across the globe fund you, because they believe in your project. On TravelStarter, this gets a bit more exciting as all the rewards are travel related. Funders get to experience local, authentic and custom built rewards in the form of travel experiences. This helps create a sustainable, ethical and responsible eco-system where funders and project owners both have a win – win situation.
On TravelStarter we keep both our project owners and funders protected through several built in features. Starting with our secure platform and encrypted payment system, profile authentication and social network validation, you can crowdfund without stress.
Still have a few more questions that need answering? Scroll down below to our FAQ’s area.
TravelStarter is a new and innovative crowdfunding platform for the tourism industry. It helps small businesses raise cash while also giving tourists authentic and unique travel experiences. The site works in a similar way to other crowdfunding sites except that the rewards offered are unforgettable travel experiences like staying in an eco-B&B in the jungle, whale-watching in the Pacific Ocean and having a professional chef cook for you for a week. TravelStarter puts tourists in direct contact with the tourism projects they want to support and allows them to experience these projects first-hand.
A picture is worth a thousand words – and a video even more than that. For a great explanation of how TravelStarter works, see our clip.
When you sign up with your project you have two choices. One is fixed funding – an “all or nothing” campaign, where you only receive the funding if you reach your funding goal. This is appropriate for most projects, especially if they cannot be executed if the goal is not reached.
The other options is flexible funding, where you get the funding no matter how much you raise, however TravelStarter charges higher fees if you do not reach the goal. This option is suitable for projects that can be realized even without the entire budget.
In both cases we suggest that you set realistic and reachable goals. You can always raise more than you have planned.
TravelStarter is suitable for businesses and individuals with projects related to tourism and the travel industry. You can have an existing business that you want to expand (ex. a hostel that needs a new common room) or just an idea that you want to realize. However, in both cases, you need to have a very clear understanding of your goals and a well-developed business plan. Only a great dream is not enough. You also have to have what it takes to sell it and execute it.
Projects are posted by small business owners and individuals from around the world. Anybody can participate if they have an idea they can execute. Most of the projects are done by locals who have been working hard to shape the tourism in their region, and they need extra funding to go even further.
Projects can be funded by anyone; however, most of the rewards are targeted towards travelers. While our rewards are usually amazing perks for people who’d like to enhance their next trip, you don’t have to visit the destination to donate. Some of the rewards are not location based, or you can easily donate without asking for a reward. If you like a project, go ahead, and support it.
Some users want to take advantage of the travel rewards they can receive at their next destination, but others just feel very passionate about a certain project, and they end up supporting it without asking for a reward.
Most projects offer rewards in return for funding. Every reward has a specific price you must match with your donation in order to claim it. You are free to donate even without claiming a reward.
Each project has a funding goal to reach. The amount set as the goal is usually the amount needed for a successful fulfillment of the project.
The projects also have deadlines – the projects usually run for 30, 60, or 90 days. After the deadline is reached, donations are not possible anymore. The payouts of the raised amount depend on the type of funding
TravelStarter collects fees on all donations. For more information about the fees, see the Pricing and fees section.
The funding starts as soon as the project is submitted and approved. The revision of the project can take up to a week after the project is submitted.
Of course. You can raise as much money as you want (with a few legal and technical limitations).
We currently support only US dollars (USD).
The projects on the first page are selected by our staff based on how interesting, innovative, and attractive the projects are.
You can, as long as it meets our Guidelines.
You can easily reset your password just by clicking “forgot my password” on the site.
Every project must fit into one of the TravelStarter categories: accommodation (ex. guesthouses, hostels, hotels); hospitality (ex. restaurants, bakeries, coffee shops, travel agencies); adventure & sports; ecology & sustainability (ex. building a sustainable hotel in Greece, sustainable tours, educational project about sustainability in tourism…); and travel.
Rewards are based on unique travel souvenirs or real travel moments. Think about it – if someone wants to visit your city, they will be more than happy to support your project if you can offer them an authentic local experience.
We suggest you offer 6 to 8 rewards that are clearly distinct in price. Make them unique and interesting – look at our rewards categories to get more ideas. They will help you create experiences people cannot get anywhere else.
After the launch, the project usually can’t be changed. But if you believe the changes are necessary for the success of the campaign, you can get in touch with us, and we can help you out.
You should: — Take a closer look to our guidlines on how to create a project - Check the projects on TravelStarter site to get an idea on how to prepare your project - Make a detailed budget of your costs. Use this to set your funding goal. — Brainstorm with friends about: which rewards to offer, how to present yourself and your team, what kind of video would be the best to describe your business. — We will contact you and send some tips and tricks on how to run your campaign. Use them to make your campaign even better. — Have a plan for spreading the word about the project - Make sure you're ready before you launch the campaign. You need to understand how crowdfunding works. Running a project is a lot of fun and a lot of work.
Be honest and personal. Try to write a bit more about yourself. Explain what it is you are trying to do and why it is important. Try to present the team that is working with you (if you have one), add a detailed description of your business, budget and timeline for your campaign.
The projects can run for 30, 60, or 90 days which is also a maximum duration of the project
Before you set up the rewards, you need to take into consideration the cost to mail your backers their rewards (postage, envelopes, etc.) and set the right price for your rewards.
You will receive an email notification each tinme you get new funding.
It depends on why the project was declined. You should check our guidelines on what is not allowed on the site. If there were only minor adjustments to your project, and you update them, your project may be resubmitted.
No, there are no extra fees for your donors.
Yes – a project creator has the option to cancel funding. When funding is canceled, all pledges are immediately voided.
We currently support only US dollars (USD).
You will receive contact details from all your supporters, so you can send them a personal thank you every time they back you.
Funds are collected 5 to 7 working days after the campaign ends.
We use PayPal, proven to be one of the safest methods of payment.
Sure – you can support any of the projects as much as you like while the campaign is active.
Click “Send message” on the main project site to get in touch with the project owner.
All of your fundings are registered on your TravelStarter account.
Of course – the mobile version of your campaign on TravelStarter is accessible for everyone visiting your campaign from their phones. It's very easy for donors to complete their donations from their mobile device.