“Is crowdfunding free money?” – Are you thinking if the money that you receive through crowdfunding will be free or not? Well, let’s discuss it in detail here.
Crowdfunding is becoming more common. Now people are aware of this option to raise funds whenever necessary. There are many success stories of crowdfunding.
In this current blog, I would like to discuss if crowdfunding money is free or not.
Is Crowdfunding Free Money?
Yes, crowdfunding is free money. But in some cases, you should pay some fees if you use any particular platform for crowdfunding.
9 Examples where Crowdfunding is Free Money
Let me share some situations and ideas where crowdfunding is free money and you don’t need to pay a fee.
1. Crowdfunding by Selling Products
If you ask people to donate old things and resell them as a thrifty store then you can raise funds. And you can tell people about the reason to get support from people.
Many people may buy the products to support your cause. So, here you are raising funds from the crowd by selling second-hand products.
And this is free money. You don’t need to pay a fee for this.
2. Offline Crowdfunding is FREE
If you choose offline crowdfunding then in many cases you don’t need to pay a fee or any charges. It’s totally free money from crowdfunding ideas.
For example, you can collect money from your community, family and friends. Share with them about the reason or about your project so that they can fund more money.
Here people will be your own people like friends, community, relatives. In this case, they don’t expect any fee from you. So, it’s a free amount that you collect.
3. Organising Competitions to Raise Funds
You can organize simple competitions for kids and raise funds from there. Then that will be free money that you get from the registration.
So, decide a reasonable price for registration and raise funds through crowdfunding. Also, during the competition ask people to contribute money to support the cause.
Here it is free money. And if you get sponsored prizes to give winners after the competition then that will also be free.
4. Raising Funds From the Crowd on YouTube
If you have a YouTube channel with more subscribers then you can raise money from the audience. Tell them the genuine reason for rating funds.
This will be free money. You can directly tell people where and how to contribute if they want to fund your project And if you do not have your own YouTube channel then you can reach out to other
YouTubers and take help. If your cause is genuine or your idea is worthy then they will ask their audience for crowdfunding. This will be free money if the YouTuber agrees to pay you the full amount without commission.
5. Organising Sunday Fun Tasks for Crowdfunding
Usually, on weekends people have fun. So, you can raise funds on weekends by organizing fun activities where people can join.
This way, your can collect funds from the crowd. This will be free money. You don’t need to pay any fee.
You can do this in public places where you can freely organize fun tasks on Sundays where more people gather together.
6. Walkathon for Crowdfunding
Walkathon is one of the best and practical ways to raise funds. You and your friends can start a walkathon to raise funds.
When you host a walkathon tell your friends to join it and also tell them to raise funds from their personal network. If you clearly mention the reason for the crowdfunding, people contribute more.
And the money raised from the walkathon from the people is free money.
7. Collecting Old Toys of Kids and Reselling to Raise Funds
You can collect either old toys or outgrown clothes of kids from people and sell them to raise funds. This needs effort but this will be free money that you get from reselling.
Many people will be ready to donate toys and outgrown clothes for kids. So, figure out how to reach out to such people and collect them. This is a combination of crowdfunding and donation.
Then while selling also you can tell the reason or about your project. This will help people to understand your motive and chances are more that they people will buy more things if they know the motive. So, this type of crowdfunding is free.
8. Give Handmade Cards to Raise Funds
You and your friends can make handmade cards like greeting cards and sell them. Just choose the places like parks or markets etc where you can distribute cards and tell people about your motive for crowdfunding.
People will contribute money by getting handmade cards. And this amount is free.
You only need to invest some time to create more handmade cards so that you can distribute more and raise more funds.
9. Host Quiz Nights and Raise Funds
Many people love attending quiz nights. You can host such quiz nights and raise funds.
You can organize a quiz night by yourself or there are some pubs that conduct quiz nights. So, you can contact such pubs and get help. Tell them that you are raising funds for a good cause.
Ask them to arrange a quiz night to help you. This will be free money if they don’t charge any fee or commission from you. So, if your purpose is worthy then the club owners may not charge any fee.
Is Crowdfunding Free Money on Online Fundraising Sites?
No, it’s not free. Almost all crowdfunding websites charge some fees. But the fee and commission vary from one website to another.
Some crowdfunding sites deduct the fees after the campaign gets over. In this case, they may charge a fee according to a percentage of money that is collected by your crowdfunding campaign or it can also be fixed charges.
Some Crowdfunding Websites Charge Upfront Fees
You need to pay a fee before starting your crowdfunding campaign. So, here crowdfunding money is not fully free as you need to pay some money as a fee or commission to the crowdfunding websites.
So, I’ve explained here different situations here to answer your question ‘Is crowdfunding free money’. Now you have to decide for yourself to choose the right crowdfunding idea to get free funds.