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 ...
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...
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...
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...
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...
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...
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...
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...
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...
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....
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...
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...
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...
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...
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...
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...
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...
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...
Kickfurther Cancellation Policy Overview
Kickfurther’s Consignment Arrangement Kickfurther operates as a consignment arrangement, which is why we have Consignment Opportunities or “Co-Ops.” Since Kickfurther is a consignment arrangement between our community of buyers and the business, payment is only due on Kickfurther if one of the consigned items associated with the Co-Op is sold. Ou...