It’s good to dream big. Growing your business, achieving more: these are things every small business owner strives for.
But even the best laid plans can hit a snag and get derailed. Restaurant owner Angela Salamanca found herself in this very situation.
Salamanca had the dream to expand her Mexican restaurant, Centro. Located in Raleigh, North Carolina, the restaurant occupies a 100 year old building in the city’s downtown area.
For the past eight years, Salamanca ran her business out of the first floor, but in 2012 she decided it was time to take advantage of the second floor.
This new addition provided more space to accommodate the busy lunch rush, as well as a better area for hosting events and large gatherings. There was a second goal as well, to include a bar called Gallo Pelon.
But it wasn’t long before this new project started hitting problems. A 100 year old building has historic value but also comes with some challenges. Issues with building and fire codes soon ate up Salamanca’s budget and began pushing the project back.
With the budget exploding and no way to turn back, Salamanca decided to give crowdfunding a try. With the goal of raising the last 10 percent needed to complete the expansion, she successfully launched an Indiegogo campaign and now has the funds she needs.
Here’s a video giving an overview of the campaign:
Salamanca used some creative tricks to help her Indiegogo campaign along. She used social media such as Facebook and Instagram to promote her project and share her vision.
Creative perks helped expand the appeal of her campaign. Asking people to help fund a restaurant is a little different than buying into a product. Instead she offered tickets to events, special occasion dinners, and even shippable items like salsa and candles.
Crowdfunding is a platform that offers varied uses. As can be seen in the example of Salamanca and her restaurant Centro, it’s possible to make crowdfunding work for your situation. It’s a method that certainly won’t work for everyone. But crowdfunding could be a resource worth looking into.
Image: Centro Mexican Restaurant More in: Crowdfunding