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Information for businesses that want to consign

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Kickfurther Business Contract

Here’s how to read and understand your contract, including the terms and requirements of which you should be aware of. The contract outlines the terms of the Consignment Opportunity or “Co-Op.” Co-Op Specific Details: The contract will detail the Kickfurther fee for each Co-Op, any inspection fees initially withheld for the Co-Op, any fees that may ...

Last updated: November 14th, 2022 by Melissa Pillion

Post Funding Timeline

Congratulations on funding your Co-Op! Here’s what to expect now. Generally, the funds raised in a Co-Op will not be available until five business days after funding. If you’d like to expedite part of your funds, we offer an expedited option available for $250. If you funded against existing inventory, we must confirm that the inventory exists prior...

Last updated: February 27th, 2024 by Steve

User Stores

Each Kickfurther user that contributed to your Co-Op has their own Kickfurther User Store where they have the ability to list the items that were funded in your Co-Op for sale in their virtual storefronts. If a contributor sells one of your financed items, Kickfurther will notify you of the sale and you’ll then manage order fulfillment to the shippi...

Last updated: February 8th, 2024 by Steve

Interested in Creating a New Kickfurther Co-Op?

Please send a request to sales@kickfurther.com  You can get started on the process by creating a business account here....

Last updated: December 29th, 2020 by Melissa Pillion

How to Link your Bank Account to Dwolla

Before you’re able to send or receive funds on Kickfurther’s platform, you need to link your bank account to Dwolla.  Why do we use Dwolla?  It allows individuals to have business and buyer accounts with linked bank accounts without any issues Significantly higher transaction allowances  Is a Plaid based connection system How to link your bank accou...

Last updated: December 10th, 2021 by Kaylyn Perry

Tips to Get Funded

MM Local Foods completed a crowdfinancing opportunity already and recently successfully raised funds for a second time.  MM partners with family farmers to preserve surplus produce at the height of harvest through our two brands MM Colorado and MM Pacific Northwest. Their production model helps prevent food from going to waste and helps local farmer...

Last updated: September 8th, 2021 by Kaylyn Perry

Tech-Based Fulfillment: The Key to Growing a Successful E-Commerce Business

Successfully running an online business requires the right technology to make everything from your website to your order fulfillment process run smoothly. Before the rise of sophisticated technologies, working with a third-party logistics (3PL) provider consisted of manually sending orders before a cut-off time each day. Retailers today rely on tech...

Last updated: October 7th, 2021 by Kaylyn Perry

How to Report Your Sales to Kickfurther

Once your Co-Op has been funded on Kickfurther, you’ll need to report your sales based on the timeline of your deal.  Sales reporting is due to Kickfurther every two weeks during your sales timeline. How to Report Your Sales Login to your dashboard and go to  “manage Co-Ops”  and click  “Sales Reports” .  Based on what you’ve sold during the two-wee...

Last updated: February 8th, 2024 by Kaylyn Perry

How to Post and Update your Co-Op

How to Communicate with your Buyers Co-Op Updates:  Co-Op updates are mandatory every 30 days. Log into your Kickfurther account and click  “Post an Update”  to update every contributor of your Co-Op: Direct Replies : Hit the reply link to respond to a specific user within your Co-Op. Only the specific user will be notified of your comment via email...

Last updated: December 10th, 2021 by Kaylyn Perry

Business Post Funding Expectations

Congrats on successfully funding your Co-Op! Now what? Post a Message to your buyers: Once you fund, you should send a message to the buyers who made it possible thanking them for support and letting them know you are excited for next steps. It’s also good to make sure that you know how to use the update tool. If you’d like to offer a discount of an...

Last updated: October 29th, 2021 by Kaylyn Perry

Can my remaining supplier funds be used as a payback on my Co-Op?

Any available supplier funds that were not used towards purchasing inventory can be used towards fulfillment of your Co-Op obligation, as long as those funds are used as a final payment, including any fees incurred during the life of the Co-Op. Any questions, email contact@kickfurther.com....

Last updated: February 25th, 2022 by Kaylyn Perry

Is my Co-Op complete when I reach the target completion date?

Co-Ops reach completion after the full balance due has been submitted to Kickfurther. You can find your target completion date in your contract and within the invoice timeline This date represents the intended date of completion but a Co-Op is not complete until the total amount due is paid. The targeted completion date can differ from the actual co...

Last updated: February 25th, 2022 by Kaylyn Perry

Is there a discount if I pay back early?

There is no discount for completing your payment obligation ahead of your completion date. If it is your first Co-Op on Kickfurther, by completing your payment obligation early, you have the ability to launch another Co-Op immediately. While there is no immediate discount to early repayment, completing your Co-Op early can often help move the market...

Last updated: February 25th, 2022 by Kaylyn Perry

What are my expectations now that my Co-Op is in “Goods Selling” status?

Once your Co-Op is in “goods selling” status you are required to report sales on funded products by the specified date noted on your Co-Op timeline. Based on your reported sales, an invoice is issued and you are contractually obligated to pay for these invoiced sales by the invoice due date.   Businesses are also contractually obligated to update bu...

Last updated: February 25th, 2022 by Kaylyn Perry

When is my Co-Op completed?

Your Co-Op is completed when your balance is paid in full and the amount funded has been paid back to the buyers. You’ll find your balance within the platform on your invoices tab.  If you have a question, please email contact@kickfurther.com....

Last updated: February 25th, 2022 by Kaylyn Perry

What does Goods Selling mean?

In a Kickfurther Co-Op’s timeline, the “goods selling” status occurs when the selling period of the consigned inventory begins. On Kickfurther, payment isn’t due until a business sells their consigned inventory.  We check with the business before they launch their Kickfurther Co-Op to make sure that the date listed for goods selling is realistic and...

Last updated: March 30th, 2022 by Kaylyn Perry

What does the Inventory Available status mean?

Kickfurther checks with each business’s manufacturer before their Co-Op is launched to get an estimated shipping date for the consigned inventory. We want to be sure that each Co-Op’s schedule is accurate.   Co-Ops in the “inventory available” status have provided a tracking number or bill of lading to Kickfurther as proof that their consigned inven...

Last updated: March 30th, 2022 by Kaylyn Perry

What does the Awaiting Payment status mean?

The “awaiting payment” status on Kickfurther means that a business has submitted a pending payment to their buyers.  Kickfurther will distribute the pending payment to the contributors as soon as the payment clears in our bank account....

Last updated: March 30th, 2022 by Kaylyn Perry

Introducing Kickfurther's New Invoicing System and Invoice Page

We’re thrilled to launch the new Kickfurther invoicing system and invoice page! You’ll have access to an up-to-date dashboard of your invoices and payments due, enabling you to better track the progress and status of your Co-Op. With our invoice page, you can manage, submit and view your invoices, setup automatic billing, as well as review your Co-O...

Last updated: July 27th, 2022 by Kaylyn Perry

What does In Compliance mean?

For your Co-Op to be ‘In Compliance,’ you must submit your sales reporting according to your agreed upon timeline and then payment for all invoiced sales must be submitted....

Last updated: April 18th, 2022 by Kaylyn Perry

What is On Schedule versus In Compliance?

For your Co-Op to be considered O n Schedule, the payments you have submitted after each sales reporting period must meet the original sales projections set in your Co-Op. If your payments are less than your original projections, your Co-Op would be considered off schedule. If sales are less than outlined in your Co-Op timeline but you submit paymen...

Last updated: June 1st, 2022 by Kaylyn Perry

What does Kickfurther consider revenue?

Kickfurther works with brands once they’ve reached at least $150,000 or more in trailing 12 months revenue. You do not need to be in business for 12 months, or have revenue in 12 consecutive months, but we review a snapshot of revenue across a period up to 12 months.  As we process your application, we review your account statements to calculate you...

Last updated: April 18th, 2022 by Kaylyn Perry

New Business Dashboard Guide

Welcome to your new Kickfurther Business Dashboard guide! We have compiled the feedback from our Kickfurther business customers to create a more efficient and easy to use dashboard. View your new business dashboard  here .  New Dashboard Homepage Upon logging in, you will notice a streamlined dashboard homepage with a summary of your Kickfurther Co-...

Last updated: January 23rd, 2023 by Kaylyn Perry

Can I change the timeline of my co-op if my inventory or receivables is late?

Once a co-op funds, the timeline that was set during co-op design cannot be changed.  These are the expectations set forth to your backers when your co-op went live.  If anything arises that throws off your timeline it is best to update your backers immediately so as to maintain their confidence in your co-op competing in a timely manner....

Last updated: March 14th, 2023 by Kaylyn Perry

How often do the buyers expect that I will provide an update or answer their questions?

You are contractually obligated to provide at least one monthly update if your Co-Op is not flagged and at least biweekly updates if your Co-Op is flagged. Buyers expect you to respond to their questions in a timely manner and provide regular updates. The more communication the better....

Last updated: March 14th, 2023 by Kaylyn Perry

My sales are lower than expected and/or I am not keeping up with my expected timeline.

You only owe Kickfurther for the actual sales that you make, but your Co-Op may become flagged and subject to cancellation if your actual sales are less than your expected sales for any sales period. ...

Last updated: March 14th, 2023 by Kaylyn Perry

What are the two payment statuses on the invoices page and what do they mean?

Each co-op is on a linear timeline based on projected expected sales you set up during co-op design with your Account Executive. If sales fall below expectations, payments should come in at the expected payments put forth to your backers so the co-op stays  on   schedule  (or, meeting expectations) for an on time completion.   In order to keep your ...

Last updated: March 14th, 2023 by Kaylyn Perry

How do I make a payment at any time?

Payments can be made on the platform at any time by going to your invoices tab, “due now” and using the “make payment” feature....

Last updated: March 14th, 2023 by Kaylyn Perry

How do I adjust my upcoming payment?

You can adjust your upcoming payment by going to the “upcoming payment” tab and selecting a custom payment as shown below:...

Last updated: March 14th, 2023 by Kaylyn Perry

What happens if I do not complete on my contracted completion date?

Late completion fees apply to any co-op that does not complete by their contracted completion date.  Late completion fees will begin to accrue the day AFTER the contracted completion date.  Late completion fees are outlined in section 1.4.2 of your contract.  It is important to update your backers if you know you will not complete on time to maintai...

Last updated: March 14th, 2023 by Kaylyn Perry

Are there other fees during the life of my co-op I should be aware of?

There is a $500 fee applied for each occurrence of the following: Late sales reporting Late invoice payments Failure to provide a monthly update to your backers (or twice monthly if in flagged status) All late fees are assessed upon completion of the co-op....

Last updated: March 14th, 2023 by Kaylyn Perry

What could cause my Co-Op to become flagged?

Late submission of reporting Lower than expected sales, lower than expected payments (based on the timeline you created when you designed the consignment),  Later than expected completion...

Last updated: March 14th, 2023 by Kaylyn Perry

What does Flagged Status mean?

Flagged status is a flag on the co-op that shows the co-op is off track for its linear completion and allows buyers to vote to cancel the co-op if they lose confidence in your company’s ability to successfully reach completion of the co-op....

Last updated: March 14th, 2023 by Kaylyn Perry

What happens if my Co-Op becomes flagged?

If your Co-Op becomes flagged, the users that contributed can choose to vote to terminate the consignment via a No Confidence vote. When in flagged status, it also increases the businesses burden to provide updates to the community from monthly, to every 2 weeks. A co-op in flagged status makes a business ineligible to launch any new co-ops until th...

Last updated: March 14th, 2023 by Kaylyn Perry

What else can cancel my co-op?

A co-op is subject to an Affirmative Vote upon meeting certain criteria.  The Affirmative Vote acts in the same manner as the No Confidence vote that is triggered once a co-op becomes flagged. A co-op is eligible for an Affirmative Vote if they meet the following triggers: In flagged status for more than 90 days Has gone more than 30 days since its ...

Last updated: March 14th, 2023 by Kaylyn Perry

What happens if my Co-Op is canceled?

Kickfurther will send you a Termination notice. After this notice is sent within fifteen days you are obligated to do one of the following: Provide payment in full Return of the appropriate amount of funded inventory Provide a mixture of payment and return of funded inventory....

Last updated: March 14th, 2023 by Kaylyn Perry

Post Funding Co-op Guide For Businesses

Can I change the timeline of my co-op if my inventory or receivables is late? Once a co-op funds, the timeline that was set during co-op design cannot be changed.  These are the expectations set forth to your backers when your co-op went live.  If anything arises that throws off your timeline it is best to update your backers immediately so as to ma...

Last updated: March 14th, 2023 by Kaylyn Perry

Co-Op Guide

    Become Familiar with your Kickfurther Business Dashboard    Access your Kickfurther dashboard  here . Scroll down in the “Invoices” section under  “Manage Co-Ops” in your dashboard to view your estimated Co-Op schedule.  This schedule includes your timeline for important due dates as well as your estimated completion date.   From your dashboard,...

Last updated: May 23rd, 2024 by Melissa Pillion

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