I’ve been asked why we are not using a crowdfunding platform such as Kickstarter and indiegogo — although I did test the waters with indiegogo in late 2018, I found that an additional £50,000 would be needed to cover the 5% fee taken by these platforms.
Realistically, in order to buy proper sorting equipment and machinery we would be looking at millions. That is why, in order to cut costs, without it effecting our overall vision I have opted for ‘hand sorting’ which relies on a custom bin made from cardboard with two slots; one for food, and one for general.
Here is a basic brakedown of where the funds will be split.
- £650,000 – will go towards a local storage unit, nothing fancy — enough for us to do the job required.
- £3,000 – Will be put into a craft center, allowing us to buy basic supplies and tools. This area will be where anything that can’t be recycled will be salvaged and repurposed.
- £1,000 – Will be spent on our automatic barcode system, which will update your account (our website) with your new point balance everytime we collect your rubbish.
- £500 – Goes towards supplying our first local drop bin, I have funds in place to secure the remaining, roughly £3,000 in total.
- £300 – Keeps us stocked with boxes, tape and bailing supplies to allow us to process and arrange collection for scrap / goods to be recycled
- £200 – To kick us off, we will pre-stock the shop with some basic items / discounts etc… as well as some donated goods. Once we get more established our store will focus more on donated goods, rather than buying things in. However for now, we need to ‘bulk’ out the store a little.
- £13,000 – Will go to our secondary project. Primarily this will pay for land and basic farming equipment. This will also be an outlet for our compost to grow seasonal fruit and vegetables which will be given to local schools / poor / food banks, and of course you guys.
- £33,000 – PayPal fee at 3.4% (+20p for every donation)
If we get over-funded – In the case we go over our fund limit, I will keep you all posted on where / what the money goes to. It is likely if we do get any extra funds it will go to either better equipment (i.e. 3D printers, containers etc…) or be used to help pay Volenteers, however if this happens I will keep you all in the loop.