So you have a successful crowdfunding campaign. Your product has been funded, manufactured, and shipped. The question is, now what? According to Retailbound, Inc. only one in fifty crowdfunded gadget entrepreneurs manage to get their product on the shelves of major retailers.
The team behind Retailbound wants to improve these odds. The Chicago based company has been around since 2008, describing themselves as a full-service retail marketing consulting company. Its website boasts:
Our seasoned executives bring versatile experience and expertise of retail marketing and merchandising solutions, from both sides of the retail buyer’s desk. This experience within the retail industry sets us apart as a leading retail marketing and merchandising solutions provider.
Now the company is looking to build a new platform designed to help crowd-funded gadget entrepreneurs get their products into retail stores. The company is calling this platform a “virtual incubator” where gadget entrepreneurs can learn, network, and sell.
Retailbound is currently running an Indiegogo campaign to launch the new platform. A $10,000 funding goal has been set. It’s still early, so there is no telling if the campaign will reach that.
For more on the campaign, see the group’s Indiegogo video below:
Specific details on what the platform will entail and look like are vague. Retailbound does say it will provide how-to videos that can be accessed 24/7. The goal is to help entrepreneurs learn and develop strategies to successfully sell.
Retailbound also claims the platform will help match retail-oriented gadget entrepreneurs with retailer and distributor opportunities. If the platform can deliver on this claim, it would be a helpful tool for those getting started in that market.
There are no specifics on pricing for using the platform once it’s completed. Right now it’s looking like membership will run about $50 a month. This price is assumed based on rewards perks offered with the current Indiegogo campaign. But there may also be different levels of membership with differing fees or additional services that could cost more.
Retailbound’s new project, if it gets off the ground, could hold some helpful opportunities for entrepreneurs. An online membership could be an alternative to hiring an expensive consultant and could be a solution for entrepreneurs starting out who don’t have a big budget to spend.
Retail Technology Photo via Shutterstock