Kickfurther Glossary

Written by Graham Vosburg

Last published at: December 10th, 2021

This is a auto-generated Article of all your definitions within the glossary.

Glossary

This is a auto-generated Article of all your definitions within the glossary.

  • Affirmative vote

    Kickfurther will periodically initiate an affirmative vote to poll users about cancellation and excluding non-voters from the weighting. The Co-op has exceeded the original estimated completion date It has been in troubled status for longer than 60 days It has gone more than than 30 days since it’s most recent payment For the Affirmative vote, an email will be sent to users directing them to vote yes or no on cancellation.

  • Buyers

    Buyers are anyone who contributes to a Co-Op and earns a profit.

  • Canceled by Vote

    If a Co-Op has been in troubled status for more than 60 days and has passed its expected completion date and has not made any payment within the last 30 days, we administer an “affirmative vote.” This vote requires that 50% of the Co-Op’s ownership votes to affirm that the Co-Op should remain active. If the vote does not reach 50% within the specified timeframe, the co-op is “Canceled by Vote.”

  • Co-Op

    A "Co-Op" is short for consignment opportunity, which is what we call the arrangement to fund inventory for a vetted brand.

  • Co-Op Overview Page

    The Co-Op overview page represents a funding opportunity for a vetted brand. To view a Co-Op’s overview page, simply click on the card of the Co-Op.

  • Co-Op profit margin

    The percentage of profit you would make on the goods you’ve funded.

  • Dwolla

    Dwolla is a payment solutions company.

  • Funds Only Co-Op

    In a funds-only Co-Op, you can only use funds you have already deposited into your account from a bank transfer. You cannot use a credit card.

  • Inventory Inspection (II

    The business self-warehouses their product and has authorized Kickfurther to send a third party to inspect inventory levels.

  • Inventory Visibility (IV

    This indicates the company has granted Kickfurter visibility into and power of attorney over their warehouse relationship.

  • Kickfurther Key

    Buyers can use a key to unlock early access to a Co-Op. When a Co-Op is first launched on Kickfurther, it launches as an Upcoming Co-Op in “preview mode” for at least 24 hours. When a Co-Op is in this phase, funding access is restricted to buyers with a Key. Buyers spend one of their Keys to unlock access to make a claim before the Co-Op opens to the public once it goes live. Co-ops can reach up to half of their funding goal in the Upcoming (preview) phase.

  • Kickfurther Store

    The Kickfurther store is where you’ll find items you have funded on consignment. They will appear once the items are available for selling according to the Co-Ops payback schedule.

  • Live Co-Op

    A live Co-Op is open for buyers to contribute funds to. Co-Ops go live at 5 pm EST/ 2 pm PST.

  • Package Price

    Kickfurther operates as an inventory funding platform, so each deal is customized to a brands specific timeline and product costs for one or more products. When the product cost is higher or the Co-Op includes multiple products in the deal, the package price will be higher per pack. This price is not set arbitrarily and is dictated entirely by the costs of the goods being funded.

  • Partially Funded Co-Op

    A Co-Op can fund up to 50% while in the upcoming phase. To be able to participate in an upcoming Co-Op, you need to use a Kickfurther key.

  • PSC (Percentage Sold for Completion

    This is the percentage of the inventory the brand needs to sell for all backers to earn back their principal and payout.

  • Purchase methods

    To participate in a Co-Op, you can use a credit card or ACH/bank transfer, unless otherwise noted.

  • Total Payout

    This represents the total raised by the Kickfurther community plus the profit margin.

  • Total Raised

    This represents the total that is being funded by the Kickfurther community.

  • Troubled status

    "Troubled status" is a flag that is triggered by missed reporting, slow sales or defaulting on payments owed, enabling the buyer cohort to vote on cancellation.

  • Upcoming Co-Op

    When a Co-Op is first launched on Kickfurther, it launches as an Upcoming Co-Op in “preview mode” for at least 24 hours. Backers can use a Kickfurther Key to participate during this phase; the first 50% of a Co-Op is available for purchase during that time. Please note, each backer can only purchase 5% of the Co-Op during its upcoming phase.